Cca Horizons 2025 Term Paper

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Recommended: Impact of technology on accountants

The CPA Horizons 2025 is a yearlong project initiated by the American Institute of CPAs (AICPA), to study tendencies in the accounting profession by collecting the views of 5,600 accounting experts.
1) Technology: The attribute of this theme is to recognize and influence relevant technology in harmony with core CPA competencies to provide high quality services.
The impacts on the profession:
• For improved efficiency and development of services, CPAs should continue to keep abreast and employ the technology for their advantage.
• To increase transparency and providing real-time financial information to the stakeholders, the profession must find appropriate solutions.
• CPAs should modernize and enhance their interactions with their …show more content…

The impacts on the profession:
• CPAs should keep abreast with the continuous changes in regulations and standards as well as the social, economic, technological and political trends locally and abroad.
• CPAs should foster their interpersonal skills to augment their relationships with colleagues, clients, businesses and employers.
• Real-time learning at workplace is important for CPAs as it alters the way they learn and assists them to embrace and adapt dynamic situations; rapidly and competently.
• For new CPAs the requirements should remain thorough challenging realistic and pertinent.
• New CPAs should not only focus on technical aspect of accounting but also acquire comprehensive knowledge of business and soft skills.
With the evolving educational requirements the CPAs are not only required to achieve strong technical accounting knowledge but also improve skills such as problem solving, communications, leadership and other interpersonal skills. To expand their Accounting knowledge they need to widen their business knowledge encompassing finance, economics and technology (CPA Horizon, …show more content…

• CPAs should judge the trends for outsourcing overseas and generate prospects to offer their services across the border.
• CPAs should extend the eminence and merit of their services to the global market to flourish globally
The report also points towards the fact that as the accounting profession is growing globally therefore in order to expand and thrive globally CPAs should take hold of the extraordinary opportunities that globalization offers. To sustain their roles as trusted advisers, CPAs should enlarge their indulgence in a variety of areas, including financial, political and know-how trends at home and overseas (CPA Horizon, 2011)
4) Demographic Shifts: The demographic shift will revive the prospects for the accounting profession and improve the profession’s demand and preemptive in focusing both U.S. and worldwide demographic movements.
The impacts on the profession:
• The profession should struggle to reproduce the demographic shifts of incoming accounting clients, students, trade and society.
• Programs should be offered extensively at the workplace to support women, minorities, and young

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