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#4 Accounting Firms Moving Slowly toward cloud

Accounting firms moving slowly toward cloud: As discussed in my previous post, it seems to be that accounting is slowly moving towards cloud based software. The article Accounting Firms Moving toward Cloud only further explains why. According to the article, multiple studies have shown that digital business will be the key element in accounting but only an estimated eight percent of CPA’s believe the accounting profession is ready for the future…today. Based off the information in the article, the readiness of these changes seems to be dependent on the size of the firm. Smaller firms are more likely to be the last ones to switch solely to cloud based technologies because they tend to wait until the current systems they are using fail. Bigger firms however, will more than likely be evolved to the cloud systems because they have more people directly related to IT management, meaning a bigger staff ready to learn and help with training processes, not to mention, most large firms alrea
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The State of the Profession

I According to Rosenberg, accounting and the CPA profession are going through major technological changes. Fees are continuing to increase which in turn increases consulting related matters. As it seems to be going, it is because of the lower cost of cloud based software systems which allow for clients to send their accounting matters to an accountant without needing to actually meet in person. Because of this, in 5 to 10 years it is feasible for accounting to be almost 100% dependent on cloud based software systems  and almost completely drift away from the accounting firm as it has always been known. The increases also seem to be in Audit review services and consulting services which also makes fees increase. The cloud based software lets the clients handle some of the simple processes without needing additional outside help from the actual accounting firm. There is also the fact that tax services remain flat but it is a wonder if this is more due in part to the unknown in potential
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The future of the Accounting career and education

In his IFAC, International Federation of Accountants, article "Future of Accountancy Profession: Three Major Changes and Implications for Teaching and Research,"  www.cambridge.org/core/journals/business-and-politics/article/div-classtitlestakeholder-pressures-on-corporate-climate-change-related-accountability-and-disclosures-australian-evidencediv/74215C6182B535801C3512A5824BBADD), Muhammad Azizul Islam, PhD, states that " The accounting profession will face significant changes in the next three decades, and professional organizations, their members, and educational institutions should respond." The first of these changes has to do with changing to conform to the digital age. He states that the changes are "expected to be encountered by the year 2025" (Azizul Islam). This change by itself should be impacting education today. The implication this has on future generations of graduates, from Accounting programs, is expected to be huge. The possibility that
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My topic proposal is "Will Accounting still be a needed career in 5 or 10 years?"

My topic is not something that is possible to keep localized to only Colorado or even to just the U.S. The topic of accounting and it's future is a larger issue, it's a global issue. In this day the big deal is in Cloud Accounting, which is basically virtual CFO services,  virtual bookkeeping, and other titles. When you think of visiting your accountant nowadays it is rarely that you drive to an office building and go into an office. More often now an appointment with your Accountant will be in a Zoom style virtual meeting, Skype, or via telephone. Most accountants are doing work for clients in other cities, states, and even countries from where they actually live. The source of my information is from Hubdoc Blog, "5 trends that will change accounting forever," content.hubdoc.com/hubdoc-blog/5-trends-that-will-change-accounting-forever. This article touches on the concept of automation of accounting and cloud accounting. According to columnist Hedy Trinz, "Cloud
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Good Evening This is my first test post of my blog.
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