5 Business Accounting Trends to Watch this Year

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Online business accountant diplomaEver since the early days of accounting, new trends and technologies have continued to revolutionize the industry. From the first day fax machines were brought into offices, to the first time office computers were connected to the internet, a lot has changed in accounting over the years. For professionals working in business accounting, 2015 promises to bring even more improvements as cloud-based systems, mobile apps, and employee demographics change the way accounting firms operate across the country and around the world.

Read on to find out what new graduates and seasoned professionals alike can expect to see in accounting this year, and what you can do to make the most out of these new changes.

1. Accounting Firms are set to Offer Clients a Wider Range of Services

Students completing their business accountant training learn about macro and micro economics, risk analysis, and cost concepts that help them understand the story behind the numbers they work with. Not only does this extra insight make them better business accountants, but it also provides students with unique insight into the way companies function.

Companies are now increasingly turning to that expert knowledge when they make key decisions and plans for future growth. As a result, accounting practices are expected to offer consulting services to their clients on top of regular bookkeeping and taxation services.

2. The Trend Towards Transparency Will Continue

Increasingly, investors and the public are demanding transparency from both the private and public sectors. They want to know exactly where their tax dollars, investments, and donations are being sent, and how that money is being used by companies, governments, and charities.

Investors want to have a clear picture of the financial health of the companies they are investing in. And the public wants all levels of government to show more detailed financial records. Non-profits, more than any other sector, are becoming more transparent so that they can show donors exactly where their money is being used.

With the rising need for highly detailed financial statements, companies, governments, and non-profits are turning to highly trained accountants.

3. Demand for Professional Business Accountants Will Increase

There are many reasons why the demand for professional business accountants will grow in 2015. The increased role of accounting firms and demand for transparency will increase the work accountants do, but another factor will also drive up the need for new graduates.

Retiring baby boomers are opening up high level positions in accounting firms. As a result, employers are scrambling to organize succession planning and ensure that they have enough highly trained professionals to fill the void. Many companies are capable of identifying talented new employees, and beginning to train them for managerial positions early on.

4. Business Accountants will Experience More Job Flexibility

Flexibility is becoming more and more important to students and business accountants, and the industry is responding to that demand. Whether it’s by offering students flexible study options and online business accountant programs, or by letting employees set their own hours and work from home, flexibility is becoming a huge part of business accounting.

Cloud-based systems and sophisticated mobile apps are making it easier than ever for business accountants to work from home, or check their email on the go.

5. Social Media Marketing Will be Even Bigger for Business Accountants

Most accounting firms have made the move online, and now use Twitter, Facebook and LinkedIn to connect with customers and attract more clients. However, more and more business accountants are using social media for other reasons, too.

Social media allows professionals with an online business accountant diploma to listen to client needs and pay attention to what competitors are offering. By using social media as a talking AND listening tool, business accountants are responding to new trends and customer demands faster than ever before.

Are you interested in learning more by enrolling in business accountant courses? Check out our online diploma program for more information or to speak with an advisor.

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