Accounting trends in the modern world

Abstract

The purpose of the article is to determine the current directions and future trends in the development of accounting. The conclusions made on the basis of research materials, surveys, reports of reputable international and professional accounting organizations. Synthesis and analysis reveal that some trends and drivers among analyzed will be more significant (such as globalization of business and the profession; spread of digital technologies; expectations of business and professional accountants) than others (such as regulation and governance) and will, in varying degrees, affect specific accounting roles, skills, knowledge. As a result of research, was determined that modern accounting professionals move from performing technical accounting functions (hard skills) to support the companies` management and play a significant role in improving the development of society. It is established that the main thing in the strategy of accounting companies` progress (both large and SMEs) and accounting specialists will be the development of the latest technologies, soft skills, professional flexibility. It is substantiated that the change of priorities will turn the challenges facing the accounting profession into its advantages.

Not Practicing What You Preach: How Is Accounting Higher Education Preparing the Future of Accounting

“…One clear implication of this conundrum is that accountants and accounting students will need to have strong transversal skills, including soft skills such as self-regulation, communication, and teamwork [11], as well as IT proficiency [12][13][14] and technological skills such as automated systems and accounting information systems (AIS), which allow for the collection, treatment, and dissemination of financial/accounting information [15] and are a more efficient and efficacious response to clients' needs, with faster and bettersupported responses [16,17].…”

What exists in academia on work stress in accounting professionals: a bibliometric analysis

“…Additionally, of the 103 studies selected and published between 2018 and 2021 it was found that accounting and its professionals, were addressed in six articles and they are: 1) Lin and Hwang ( 2021 ) presented an empirical study (quantitative approach) on how accountants manage knowledge sharing, information management and the psychological factors associated with this in the pre-pandemic and pandemic periods, concluding that information management skills and perceived image have a positive association with knowledge sharing behaviour, while reciprocity and knowledge power loss do not play a relevant role in knowledge sharing intentions; also suggest that accountants need to be increasingly resilient; 2) Feeney and Pierce ( 2018 ) empirically demonstrated (qualitative approach) that accounting is an enabler of innovation and creativity; 3) Dechawatanapaisal ( 2020 ) obtained a sample of 1137 accountants (questionnaire) to develop a model to examine whether work significantly influences career satisfaction through job integration, where the results obtained showed that the direct relationship existing between job meaning and satisfaction are measured by integration; 4) Melnyk et al ( 2020 ) identified the current and future directions in the development of accounting; 5) Faituša et al ( 2020 ) evaluated accounting outsourcing in Latvia and Lithuania (inductive and deductive method) and identified the personal, professional and social characteristics of certified accountants; 6) Mihai et al ( 2020 ) investigated how the pandemic forced accountants to make a heavy investment in their work (workload), which generated stressful situations, but with a positive balance in the relationship with the family. In short, empirical studies on work stress in accounting professionals are minute, which opens space to argue that this is a fertile topic for research and to justify the essence of this study presented here as a starting point.…”

Accountant Competence and Independence in Providing Accountancy Services to Small and Medium-Sized Entities: Evidence from a Developing Economy Perspective

“…Accounting professionals with higher abilities and experience have a more noteworthy impact on the basic leadership procedures of a business (Ramli et al, 2013;Tout et al, 2014). When it comes to determining the quality of accounting services provided to SMEs, the understanding of accounting, the skill and integrity of the accountant, as well as the independence demonstrated by the accountant are all crucial factors (Blackburn et al, 2018;Melnyk et al, 2020). The research, therefore, aimed to investigate the effects of an accountant's competence and independence on accountancy service delivery in SMEs in Ghana.…”