How to Become a Digital Accountant?

In this digitalized era, fundamental changes in business models can be seen across the globe. Amongst the business models, the major evolution has occurred around verification, the collection as well as the utilization of ever-increasing volume of data in the field of Accounting and Finance. How to Become a Digital Accountant, is the most asked question.

Regarded as a paradigm shift, digital accounting is the improvised version of traditional accounting. Focus on customer-centricity, and digital accounting is an emerging field wherein you can establish your feet and have a taste of success. Are you ready to know more about this exciting field? If yes, then this block aims to guide you about how you can get started in this field.

What is Digital Accounting?

Digital accounting or also known as cloud accounting is an extensively growing subfield of accounting in which the collection, transmission, and representation of data are done via the electronic format. Through digital accounting, you can keep all your business records safe and secure online and can access them in a few clicks.

The arduous tasks like cross-checking accounts or sending invoices have become much simpler because of digital accounting. Along with this, you can easily access your entire data through any of your devices.

Advantages of Digital Accounting

Now that you are aware of what is digital accounting, do you know in how many ways does it assist an accountant? Let us have a look at some of the advantages of digital accounting-

1. Reporting and Forecasting

While drafting a report for forecasting, it is now easier to accurately deliver all the data using cloud-based accounting software. Steps like a statement of owner’s equity, matching the balance sheets, etc. have now been simplified with the use of digital accounting.

How to Become a Digital Accountant
Reporting and Forecasting

2. Budgeting and Planning

With the use of advanced financial software, you can now make quick and effective budgeting decisions for optimizing your business.

How to Become a Digital Accountant
Budgeting and Planning

3. Data Validation

Validating the data is an important aspect of an accountant’s duty, which has now been made easy via the use of accounting software. Using cloud-based accounting software, you can deliver error-free data in the least amount of time.

How to Become a Digital Accountant
Data Validation

Duties of A Digital Accountant

If you aspire to become a digital accountant, you must understand what your future duties or responsibilities will be. Let us have a look at some duties that are generally a part of a digital accountant’s job-

1. Managing data through software like Kashoo, Plooto, Sage 50cloud, etc

2. Analyzing the latest trends in the market and thus, altering the finance principles of the company

3. Cross-check the latest data entries in the accounts of a company

4. Be in constant touch of banks to enquire about the essential details.

5. Handle the vital information regarding the customers and suppliers associated with the organization.

Educational Requirements to Become a Digital Accountant

To get your career started as a digital accountant, there are certain educational requirements which are mandatory. Amongst the other courses and degrees that are considered as the toughest courses in the world, Chartered Accountancy is one of the most prestigious courses.

It comprises three separate levels. To become a CA, it is necessary to qualify all three levels of the course. Let us have a look at some of the CA subjects that you will be studying through the course.

List Of Subjects In CA:-

1. Financial reporting

2. Information technology and strategic management

3. Auditing and assurance

4. Advanced auditing and professional ethics

5. Fundamentals of accounting

6. Indirect tax laws

7. Corporate and economic laws

8. Business mathematics statistics and logical reasoning

9. Advanced auditing

10. Strategic Cost Management and performance evaluation

11. Direct tax laws and international taxation

12. Financial services and capital markets

13. Business laws and business correspondence and reporting

14. Cost accounting and financial management

15. Taxation

There is a need to have a wider and in-depth understanding of these CA subjects, before looking forward to beginning the course.

Once you have completed this level of qualification, you can go on for certification in the field of digital accounting. After obtaining your certification, you can seek career opportunities in various sectors. The major areas in which you can lookout for a leading job are:

1. Applied Finance

2. Financial Accounting and Reporting

3. Management

4. Taxation

In these sectors, there is an array of companies that are in search of digital accountants who can enhance their business projects. Mentioned below are some of the popular companies that you can’t forget after becoming a digital accountant-

1. Accounting Principals

2. eXp Realty

3. Citizens Bank

4. Intuit

5. Flagstar Bank

6. Kforce

7. JPMorgan Chase

8. Summit CPA Group

9. Robert Half International

Eleggible’s Final Words

It is always said that one must aim to establish a career in an emerging field, if you also want to do the same, then, pull up your socks and quickly get started on the path leading to educational qualifications of being a digital accountant. We hope that this article has helped you in getting an idea about how you can get your career started as a digital accountant.

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