Will breakthrough software make accountants obsolete?
Paul Allen
I'm going to major in economics and accounting and I've been thinking about this.
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Me time |
Definitely not. I'm a CPA that does tax compliance (and sort of an underling still doing the grunt work), a lot of my job is already automated but it will never totally be that way because a) laws are changing every year as are forms etc and b) CPA's are basically lawyers of the tax code, and no computer program can read, interpret and make a subjective decision based on code. Most of my job is entering information in software, which actually assembles the return. The key is knowing what to enter where, you need a person with knowledge of the law to actually input this stuff and review it. Even my "data entry" job is not easy, thats the funny part. I am constantly researching law, tax code etc for how to treat / report an item. As you get higher up in accounting more of your work shifts away from compliance (doing returns) and you get more involved in planning and structuring transactions to avoid tax, researching complex borderline tax positions, and advising clients. All of this work is more akin to being a lawyer. |
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