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Technological proficiency is a non-negotiable skill for CPAs in 2024. With the rise of fintech, blockchain, and artificial intelligence reshaping the financial landscape, CPAs need to be comfortable with emerging technologies. This skill extends to proficiency in data analytics tools, accounting software, and cybersecurity measures.
The 2022 CPA Competency Map is the current iteration of the map and describes in detail the two types of competencies — technical and enabling — which employers in public practice, industry, and government require of accounting professionals. The new Competency Map (CM 2.0) is designed to reflect the changing landscape of the accounting ...
Oct 1, 2024 · Key personal and business skills. Accounting and finance professionals need comprehensive, ever-broadening personal and business skills, including: Specific aspects of costing and revenue management. Strategic and critical thinking. Communication and storytelling. Negotiating and influencing. Change management.
- Up-to-date tax knowledge. Successful accountants stay current with tax laws and mandates, which change constantly. To best serve their clients and organizations, everyone from payroll administrators to tax accountants to financial planners should take continuing professional education (CPE) courses in federal and state taxation.
- Business acumen. The further finance professionals advance in the workplace, the more they will be asked to advise upper management, assemble company-wide reports and provide big-picture perspectives.
- Presentation prowess. CPAs must know how to present information in a clear, concise and compelling manner — especially for nontechnical audiences. The key to being a good presenter isn’t reading from a PowerPoint deck, though.
- Technical abilities. Successful CPAs are the ones who master their company’s software and systems. Developing advanced skills in Excel, the workhorse of almost all accounting and finance departments, is essential.
January 31, 2012. CPA firms provide invaluable advice to business clients but often struggle to run their own businesses effectively, particularly in the areas of pricing, billing and collections. Failure to set appropriate fees, deliver bills in a timely fashion and collect payment promptly—or even in full—cuts into a firm’s ...
Aug 21, 2023 · In this podcast episode, Nicola McLaren, CPA, CA, vice president of professional development and learning at CPABC, speaks with Vivian Tse, director of communications at CPABC, about skills CPAs need to succeed in the remainder of 2023 and beyond. Skills that CPAs need for 2023 and beyond
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Jul 14, 2021 · Here are some skills every CPA should be sure to develop: 1. Consulting. Adding consulting skills to your repertoire will help you serve your clients as their needs change. In a recent report, 79% ...
