2012 Accounting Trends

April 16, 2012 — 2,082 views  
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The modern accountant may no longer spend his time preparing financial reports and tax returns in the future - just one of the many predictions hitting the industry. The future of the profession is undergoing rapid evolution as digital technology takes over some of the more basic functions of the job.

Here are the top accounting trends coming to the industry:

1. Specialized roles. As the complexities of financial analyzing and accounting for resources across global markets become more serious, the responsibilities of the individual professional will become more specialized to meet the demand.

2. Job growth. Due to the financial crisis of the early 2000s, and the resulting increase in regulations to create a system of checks and balances, employment of accountants and auditors is expected to grow 16 percent between 2010 and 2020, according to the Bureau of Labor Statistics. Much of this growth was in the earlier half of the decade.

3. Social media integration. The accounting industry will no longer remain in the shadows as digital and social technology increasingly permeates the everyday lives of the individual. Firms will begin to attract customers in both the individual and corporate market through social media.