How can you continuously learn and grow in accounting? (2024)

Projecting the next 3 years, AI will be playing a huge role on accounting. I believe starting to consider continuous learning on machine-learning and big data-related courses would give you an edge in the near future.

To stay updated and grow in your accounting career, consider pursuing advanced degrees and certifications, being informed on regulatory changes, joining professional associations, networking with peers and mentors, seeking feedback & evaluation, joining online forums & communities, and teaching and mentoring others. These strategies help you stay current, adaptable, and grow in the ever-evolving accounting field. By pursuing these strategies, you can ensure that you remain well-informed and adaptable to the ever-changing accounting standards, regulations, and technology. By embracing a mindset of lifelong learning, you can ensure that you remain well-informed and adaptable in a field that demands staying well-informed & adapting to change.

Accounting is a vast field that continues to evolve. It's important to determine your specific area of interest and focus to effectively chart your career growth. Whether it's financial accounting, cost accounting, auditing, or finance, clarifying your desired path will make it easier to navigate your professional development.Once you have identified your chosen path, you will find numerous opportunities for training, educational programs, and certifications that align with your goals. Remember, the accounting field offers a wide range of possibilities, and staying committed to continuous learning and professional development will contribute to your long-term growth and success.

Be up-to-date by participating in continuing education through industry organizations such as the Institute of Internal Auditors (IIA), the Corporate Finance Institute (CFI), Financial Executives International, etc. Practice effective time management. Learning soft skills such as communication, time management, and problem-solving is a must. Set goals, seek out opportunities, and be proactive in pursuing your ambitions.

1- Professional Certifications: Pursuing CPA, CMA, or other relevant credentials.2- Workshops and Seminars: Staying current with industry practices.3- Networking: Learning from peers through professional associations.4- Subscriptions: Keeping up-to-date with accounting journals and publications.5- Online Courses: Utilizing platforms like Coursera or edX for new skills.6- Software Proficiency: Staying adept with the latest accounting software.7- Regulatory Updates: Understanding changes in tax laws and financial regulations.8- Cross-Training: Gaining knowledge in related areas like finance or tax.

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Let me be a devil advocate here.Many courses and certifications are just another diploma on your shelf.Without practical application they are just useless.

Pursue formal education like CA, ACCA and then continuously update yourself with latest changes in accounting standards, global economic and financial issues.

Profound!While the pursuit of continuous formal education and certification is important, it is crucial to assess the genuine necessity of such certifications. Have you fully explored your existing knowledge base? Will the chosen course genuinely address your skill gap, or is it merely an attractive certificate lacking substantial value? Before venturing into additional certifications like ACCA, CFA, etc., can you articulate the tangible value that ICAN has contributed to your professional growth? In this age where are there are loads of resources out there supposedly to sharpen your knowledge, it's essential to discern between valuable learning and potential distractions. Go for it only if it add values to you!

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Certification of your knowledge and skills goes a long way in one’s professional and practical journey. Choosing the right one is paramount and help in forging your future pathway in best manner. Here one’s aptitude and passion towards a certain subject are most important factors.

We need to understand the nature of the transactions from the field. Accounting is like a language. As time goes by, the expression seems to be different.The art of articulation of the transaction nature to be fully understood by needed parties must be practical based on the principals of accounting. We cannot forget the initial purpose where accounting comes.Thus, we are keep evolving for serve better.

This is very very important! Participating in industry events, staying updated through the latest industry articles, and engaging with professional colleagues both offline and online are invaluable informal avenues to enhance your knowledge.One advise, follow at least two industry thought leaders here on LinkedIn to stay abreast of the latest developments and news within your profession.

Staying informed and continuously reading is essential to keep pace with the rapid developments in fields like economics and accounting. These areas are constantly evolving, adapting to changing conditions, incorporating new knowledge, and adjusting to updated tax laws and accounting standards across countries. While acknowledging the importance of technology and expertise, those who combine modern methods with a foundation in traditional accounting practices demonstrate a comprehensive understanding. Being well-versed in both traditional and technological approaches positions individuals not only as knowledgeable accountants but also as effective managers within a company.

One tip that works for me is to take advantage of commute time to listen to a Finance content podcast, particularly in Brazil - I found a Controller Cast (Portuguese) where good participants share their experiences and thoughts about FP&A, Controllership, etc. It's a fantastic way to make the most of your commute by gaining valuable insights into the financial landscape.

Aqui mesmo no LinkedIn possuímos diversas páginas que trazem um conteúdo super interessante e atualizado sobre as práticas contábeis. É indispensável que estejamos sempre atentos e atualizados quanto as notícias. Estar em constante atualização a respeito, principalmente, da legislação, faz com que tenhamos mais credibilidade e informações valiosas para o melhor exercício da profissão.

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Accounting is based on the fundamental concept of the continuity of life. Life is moving, so is business operating in cycles. We have to face the current challenges. For example, gas used to be 33 cents a gallon when I bought my first new car. At its height, it is $6.6 a gallon, cost 20 times more. The historical cost in measuring performance may not be adequate. We have to consider current value accounting or replacing value as an alternative to adequately measure the operating results of a business or measure the market value of a company.

When beginning your career as an entry-level accountant, you might realize that certain requirements go beyond academic qualifications and are more related to personality traits. If you find that your personality doesn't align well with the accounting environment in your current organization, it's important not to be disheartened. Consider that your personality might be a better fit elsewhere, allowing you to thrive and succeed in a different organizational setting.

I think when you start your first job as an accountant trainee, you find that there are requirements that are less academic and more personality related. You may discover that your personality does not lend itself to accounting at that organization. That’s okay. Don’t give up; your personality may fit better in another organization where you can still flourish as an accountant.

Buscar feedback e coaching na contabilidade é fundamental para o crescimento profissional, mas deve ser feito eticamente. É importante que as críticas sejam construtivas e respeitosas, promovendo um ambiente de aprendizado e suporte mútuo, sem comprometer o bem-estar e a dignidade dos indivíduos.

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Constructive feedback is invaluable for personal and professional growth. Seek out mentors and coaches who can provide guidance based on their experience. Constructive criticism is a catalyst for improvement, helping you refine your skills and navigate challenges more effectively.

Develop individual initiatives at your level to improve your delivery in time and quality. On this good basis, ask your managers to contribute to cross departments projects, like improvement of processes, implementation of tools...

One thing I have found useful by sharing my knowledge with others is that it reinforces the understanding of the concepts I have learnt and helps me articulate more clearly and precisely. It fosters networking with my peers and with other experts in the field that leads to gaining more diverse perspectives that are crucial to staying current in this dynamic environment.

Teaching is an amazing way to increase not only others but your own knowledge.It is extremely rewarding and helps to develop additional insights.

Volunteering to serve as a treasurer on small organization boards is another effective approach. This not only allows you to contribute your expertise and assist peers but also serves as a fantastic avenue for building valuable connections in your professional network.

Once certification is achieved, application of that in the field is next step and here collaboration with peers, seniors is very vital and helpful.

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Seek out opportunity to join in on internal audits. Especially if you are working in a global corporation you get to both apply your knowledge while gaining new knowledge from different type of businesses. Internal audits is a great way to broaden your network whilst both applying your knowledge and encounter new areas of accounting.

By integrating formal education, practical experience, technological proficiency, and interpersonal skills, individuals can develop a strong and ever-evolving skill set in the field of accounting.

By combining formal education, practical experience, technological prowess, and interpersonal skills, individuals can cultivate a robust and continuously evolving skill set in the field of accounting.

Building a robust professional network is crucial for staying connected with industry trends and opportunities. Attend conferences, join professional associations, and connect with peers on platforms like LinkedIn. Collaboration often leads to diverse perspectives and innovative solutions.

Networking and collaboration are important aspects of any professional's career development. But they are especially crucial in the accounting field, where staying up-to-date on the latest changes and regulations is essential. By networking with other accounting professionals, you can learn about new trends, share best practices, and get referrals for new clients or opportunities. You can also collaborate with other accountants on projects or assignments, which can help you learn new skills and develop your expertise.

Networking and collaboration are not only about building connections but also about fostering a culture of shared learning and mutual support within the accounting community. By actively participating in these activities, you contribute to your own growth and that of the broader profession.

Never confine yourself by certain self drawn boundaries, always try to diversify your learning and experience by volunteering and venturing into new areas.

In a competitive environment, one need to identify how to bring value to the business, be it filling the loose ends in terms of revenue recognition or availing legitimate input tax credits etc & maximise the returns to the stakeholders.The constant endeavour to facilitate the business growth will help to add value to the organisation as well growth to self. However an accounting professional never facilitate wrongful accounting under any pressure which can could give instant credit to the bosses but later spoil the credibility of accounting and finance professionals. So balancing the business expectations in light if realistic ethical and statutory requirements will lead to the growth of self in the long run.

Go outside your circle of competence. If you only work with the things you know, you will not learn new things. One thing I've learned is that organizations value people with a can-do attitude. Voulonteer for different projects and be an active partner, even if some of the projects might not seem so important to you. They still might be for the business.

Something that accountants working in companies (mainly large ones) should especially remember is that the job of an accountant is not exclusively inside the office, behind a screen and stacks of paper but also in all the areas of the company that concern all the accounting movements and entries. Because you need to know how to explain in detail everything if asked "what are you doing about the X issue that arose for the debit balance of customer A...?". The whole circuit and how it operates should come out spontaneously and without second thoughts. Accountats are also part of the operations department of a company! Those colleagues who practice it will understand and it is sure that they have already met success!

Formal education like CPA, ACCA, CA will surely be advantageous, informal learning methods like reading annual reports, podcasts, conferences, etc will also help