SHAPING THE FUTURE OF THE ACCOUNTING PROFESSION IN ACCORDANCE WITH TECHNOLOGICAL PROGRESS AND AN OVERVIEW OF THE STEM FIELD
DOI:
https://doi.org/10.56362/Rev23104017KKeywords:
paradigm shift, accounting profession, technological progress, alignment, STEM fieldAbstract
Accountants are involved in a wide range of business roles. They are expected to possess a variety of technical and non-technical skills, like IT knowledge and skills relevant to their role in providing professional services. Our review analyses the changing role of accountants due to technological trends, the changes in their skill requirements and how well they are prepared for new technology. We also focus on the impact of technological changes on accounting education at higher educational institutions. Adequate quality in the accounting profession requires a quick institutional and social response.
References
Adams, R. B., and Kirchmaier, T. (2016). Women on Boards in Finance and STEM Industries. American Economic Review, 106(5): 277-81.DOI: 10.1257/aer.p20161034.
Al Ghatrifi, M. O. M., Al Amairi, J. S. S., & Thottoli, M. M. (2023). Surfing the technology wave: An international perspective on enhancing teaching and learning in accounting. Computers and Education: Artificial Intelligence, 4, 100144.
Aldredge, M., Rogers, C., & Smith, J. (2021). The strategic transformation of accounting into a learned profession. Industry and Higher Education, 35(2), 83-88.
Amirul, S. M., Mail, R., Bakar, M. A., & Ripain, N. (2017). Information technology knowledge and skills for accounting graduates: An insight from public accounting firms. Indian Journal of Science and Technology, 10(12), 1-6.
Arquero, J. L., Fernandez-Polvillo, C. and Hassall, T. (2022). Non-technical skills and students’ overconfidence in accounting, Education + Training, 64(5), 716-733. https://doi.org/10.1108/ET-08-2021-0309.
Balicka, H. (2023). Digital technologies in the accounting information system supporting decision-making processes. Scientific Papers of Silesian University of Technology. Organization & Management/Zeszyty Naukowe Politechniki Slaskiej. Seria Organizacji I Zarzadzanie, (169).
Bandeira, A. M., Nogueira, J., Vale, J., Tavares, M. C., & Azevedo, G. (2023, June). Accounting for change: the importance of information technology in the accountants’ academic qualification. In 2023 18th Iberian Conference on Information Systems and Technologies (CISTI) (pp. 1-7). IEEE.
Chowdhury, E., Stasi, A., & Pellegrino, A. (2023). Blockchain Technology in Financial Accounting: Emerging Regulatory Issues. Review of Financial Economics, 21, 862-868.
Committee on Prospering in the Global Economy of the 21st Century: An Agenda for American Science and Technology. Rising above the Gathering Storm: Energizing and Employing America for a Brighter Economic Future. Washington, DC: National Academies Press; 2007.
Damerji, H., & Salimi, A. (2021). Mediating effect of use perceptions on technology readiness and adoption of artificial intelligence in accounting. Accounting Education, 30(2), 107–130. https://doi.org/10.1080/ 09639284.2021.1872035.
Douglas, S., & Gammie, E. (2019). An investigation into the development of non-technical skills by undergraduate accounting programmes. Accounting education, 28(3), 304- 332.
Dzuranin, A. C., Jones, J. R., & Olvera, R. M. (2018). Infusing data analytics into the accounting curriculum: A framework and insights from faculty. Journal of Accounting Education, 43, 24–39. doi: 10.1016/j.jaccedu.2018.03.00.
Fisher College of Business, https://info.fisher.osu.edu/graduate/ftmba-stem-mbaguide-typ?submissionGuid=dc6fbe19-011b-40f3-8860-65447b2bd594, pristupljeno 22.11.2023.
Fore, G. A., Feldhaus, C. R., Sorge, B. H., Agarwal, M., & Varahramyan, K. (2015). Learning at the nano-level: Accounting for complexity in the internalization of secondary STEM teacher professional development. Teaching and Teacher Education, 51, 101-112.
Freeman, M. & Wells, P. (2015). ‘“Reducing the expectation gap: using successful early career graduates to identify the skills and capabilities that count”, in Evans, E., Burritt, R. and Guthrie, J. (Eds), Future Proofing the Profession: Preparing Business Leaders and Finance Professionals for 2025, CAANZ, Sydney, pp. 67-78.
Gandolph, A. C., Akanbi, J. A., Olugbenga, D. A., & Sheriff, S. A. (2023). Disruptive Accounting Technology and Institutional Efficiency of Professional Accounting Institutes in Nigeria. International Research Journal of Innovations in Engineering and Technology, 7(7), 30-37.
Hopwood, A. G. (2019). Accounting and organisation change. In Management Control Theory (pp. 357-368). Routledge.
IAESB. (2019). Handbook of International Education Pronouncements. International Federation of Accounting.
International Education Standard 3, Initial Professional Development – Professional Skills (Revised), https://www.ifac.org/_flysystem/azure-private/publications/files/IAESB-IES-3-Professional-skills.pdf, pristupljeno 11.10.2023.
Jackson, D., & Allen, C. (2023). Technology adoption in accounting: the role of staff perceptions and organisational context. Journal of Accounting & Organizational Change, https://doi.org/10.1108/JAOC-01-2023-0007.
Jackson, D., Michelson, G., & Munir, R. (2023). Developing accountants for the future: New technology, skills, and the role of stakeholders. Accounting Education, 32(2), 150-177.
Jackson, D., Michelson, G. and Munir, R. (2022). New technology and desired skills of early career accountants. Pacific Accounting Review, 34(4), 548-568. https://doi.org/10.1108/PAR-04-2021-0045.
Lott, J. L., Gardner, S., & Powers, D. A. (2009). Doctoral Student Attrition in the Stem Fields: An Exploratory Event History Analysis. Journal of College Student Retention: Research, Theory & Practice, 11(2), 247–266. doi:10.2190/cs.11.2.e.
Malau, M. (2021, June). Analysis of the Accounting Learning Digital Disruptive in Industrial Revolution 4.0 and Society 5.0. In 2nd Annual Conference on blended learning, educational technology and Innovation (ACBLETI 2020) (pp. 276-281). Atlantis Press.
Martins, H., Cunha, T., Carvalho, A. O., Carmo, C., & Baldacci, G. (2023). Changes, Challenges, and Choices: An Approach to the Future of Accounting Education in a Turbulent World. In The Past, Present, and Future of Accountancy Education and Professions (pp. 82-102). IGI Global.
Melnyk, N., Trachova, D. Y., Kolesnikova, O., Demchuk, O., & Golub, N. (2020). Accounting trends in the modern world. Independent Journal of Management & Production, 11(9), 2403-2416.
Mitrović, A., Ognjanović, J., & Milašinović, M. (2022). Interna kontrola i računarsko okruženje. Revizor, 25(99), 65–80. https://doi.org/10.56362/Rev2299065M.
Moeller, K. (2020). Accounting for the corporate: An analytic framework for understanding corporations in education. Educational Researcher, 49(4), 232-240.
Moore, W. B., & Felo, A. (2022). The evolution of accounting technology education: Analytics to STEM. Journal of Education for Business, 97(2), 105-111.
O’Connell, B., Carnegie, G. D., Carter, A. J., De Lange, P., Hancock, P., Helliar, C., & Watty, K. (2015). Shaping the future of accounting in business education in Australia. Melbourne, Australia: CPA.
Petrović, T. M., & Lukić, R. (2020). The application of international education standards in the accounting education system in Bosnia and Herzegovina. Journal of Faculty of Economics Brcko, 14(1), 23-34 DOI:10.7251/ZREFB2014023P.
Reasons Why Accounting Should Join Other Tech Professions as a STEM field a call to congress: support U.S. employers and the next generation of financial leaders sponsored by The American Institute of Certified Public Accountants (AICPA) 04.04.2023, https://www.politico.com/sponsored-content/2023/04/seven-reasons-why-accounting-should-join-other-tech-professions-as-a-stem-field, pristupljeno 22.11.2023.
Rijal, S. (2023). Accounting Graduates’ Knowledge, Skills, and Attitude in the Industrial Age 5.0. GEMILANG: Jurnal Manajemen dan Akuntansi, 3(2), 42-60.
Septiani, R., Adawiyah, N. N., Suryani, M., & Istia, C. E. (2023). Accounting Study Program Student Readiness in Facing the World of Work in The Society 5.0 Era. ProBisnis: Jurnal Manajemen, 14(5), 145-153.
Strickland, B. AICPA backs legislation to add accounting to STEM education, Bryan Strickland, October 3, 2023.
Surianti, M. (2020). Development of accounting curriculum model based on industrial revolution approach. Research Journal of Finance & Accounting, 11(2), 116–123. https://doi.org/10.7176/rjfa/11-2-12.
Tavares, M. C., Azevedo, G., Marques, R. P., & Bastos, M. A. (2023). Challenges of education in the accounting profession in the Era 5.0: A systematic review. Cogent Business & Management, 10(2), 2220198.
Tysiac, K. (2020). A passion for quality and skill development. Journal of Accountancy, June 2020. https://www. journalofaccountancy.com/issues/2020/jun/aicpa-boardchairman-tracey-golden-cpa-cgma.ht.
Willis, V. F. (2016). A model for teaching technology: Using Excel in an accounting information systems course. Journal of Accounting Education, 36, 87–99. doi: 10.1016/j.jaccedu.2016.05.00.
Wolverton, A., Nagaoka, L., & Wolverton, M. (2023). Breaking In: Women’s Accounts of How Choices Shape STEM Careers. Taylor & Francis.
