To Re-Invent Accounting We Must Go Back To School

In the past weeks we’ve uncovered the “Accounting Profession Paradox” by dismantling the fact that the accounting profession would grow more than the average of all professions going towards 2026. We also did substantiate that automation has made its entry into Accounting and will likely only expand over the coming years. This then begs the question of what individuals can do to still have a successful career in the field of Finance & Accounting (if there are any jobs left)? 

Here’s how you get started re-inventing yourself 

It starts with what you study. If you take a classical finance and accounting education, you’ll likely be taught the basics but not learn how to use the basics. Of course, the basics are not what you’ll be working with either as they’re automated. That means a classic finance education won’t give you much until universities wake up and realize that the world is changing around them. So, what are some better options? 

• Data science: It’s true that a lot of analytics will be automated too yet someone needs to understand on which premises it happens. People will also be needed to make sense of what the analytics are telling us. Lastly, this area will keep developing and more people will be needed to push the boundaries. I see this as being part of Finance as in my opinion Analytics should be owned by Finance.
• Behavioral science: Agility, collaboration and complex problem solving. Those are some of the key skills you need to succeed going toward 2025. That’s because companies need all functions and individuals to pull in the same direction and do it in a fast and agile way. The future finance people have the potential to be the glue that binds all this together if we can understand what makes people work well together in combination with understanding what the numbers are telling us about current and future performance.
• International business: This might seem a bit like a classic and perhaps not something that’s associated with a career in Finance. However, to understand how business is developing you need to understand the global dynamics of growth and contraction and the forces affecting both. The earlier you can tell the signs of shifts happening at a global, regional and local level the sooner you can change the direction of the business. Business leaders are looking for people that can help them make better decisions and this input will be crucial to that end.

Granted you might not be able to do it all over and go back to school hence you’ll likely need to opt in for further educating yourself through training courses, reading, and consuming online content. There’s even a lot you can do without having to pay for it. 

Accountants are facing disruption and transformation is the only answer 

It might start with education, but it certainly doesn’t end there. More changes are bound to hit the accounting profession so rather than thinking this is a one-time change you need adopt a constant transformative mindset. You need to be on the lookout for where the world is moving and start moving with it. Now it’s automation taking away low-level jobs, next it’s AI taking over Analytics and so on. I think we’re yet to see a world where there are no human jobs left in Accounting but we need to continue to explore the topic. Next week we’ll look at how you can ride this wave as it happens and never fall off the surfboard. Are you ready for the ride?

I would love to hear your story as well about how you’re currently struggling to stay happy in your accounting career or how you’ve managed to transform yourself and find a new accounting career for yourself. One thing is that people logically understand that they need to get moving. Another is that emotionally they’re not ready but maybe your story can get them moving? Reach out to me and I will help you get your story out and help you have a successful career in Finance & Accounting. 

This is the fourth article in the series where we uncover the “Accounting Profession Paradox” and if you haven’t done so already you can read the two previously articles below. I also urge you to hit the subscribe button so you'll be notified directly when new articles are published weekly. 

What Is The Accounting Profession Paradox?

Is The Accounting Profession Really Growing?

Blip. Blop. Accounting Robot. Are You Ready?

For previous articles about robotics, accounting or finance transformation please continue to read below. You can also follow me on Twitter here.

Are You Ready For Robotics Process Automation?

Have You Met Your Robot Accountant Yet?

What Defines A Finance Master?

The CFOs Roadmap To Transforming Finance

How Finance People Can Be More Successful

The New Career Path For Finance Professionals

Do You Have A Finance Business Partner Mindset?

CFOs Are Going Virtual And Here's Why

This Is What Analytics Is All About!

Anders Liu-Lindberg is the Head of Global Finance Program Management Office at Maersk and I have more than 10 years of experience working with Finance at Maersk both in Denmark and abroad. I am also the co-founder of the Business Partnering Institute and owner of the largest group dedicated to Finance Business Partnering on LinkedIn with more than 6,000 members. My main goal at Maersk is to create a world-class finance function not least when it comes to Business Partnering. I am the co-author of the book “Skab V?rdi Som Finansiel Forretningspartner” and a long-time Finance Blogger with 23.000+ followers.