Framework for Predicting Changes to Financial Accounting, Reporting, Auditing, and Analysis

Let's face it.  Most people don't yet grasp the transformational changes that are unfolding in financial accounting, reporting, auditing, and analysis.  To do so, you need the right combination of skills and experience. Getting that skill and experience is not an insurmountable endeavor.  You simply have to gain the skill and/or get the experience.

As Malcom Gladwell pointed out, it takes about 10,000 hours to master something.  But, "Practice does not make perfect," as is often said.  Perfect practice makes perfect.  If you practice the wrong things you could become an expert in the wrong area.

I have consolidated what I personally believe to be the important moving pieces of the puzzle into related to The Great Transmutation of financial accounting, reporting, auditing, and analysis into the document Evolution of a System - Framework for Predicting Changes to Financial Accounting, Reporting, Auditing, and Analysis.

The universal technology of accountability is transitioning to digital.  Transitions like this tend to have some winners and some losers.

Pattern recognition is a skill. Advanced pattern recognition skills can be taught, and learned. Have a look at the video below.  You should be able to see the correlation between the amassing technological advancements displayed in that video and what is very likely to happen to financial accounting, reporting, auditing, and analysis over the next 5 or 10 or 25 years.  If you have the skills, can can probably project pretty well what might change in 5, in 10, and in 25 years.  What is even more important to understand is what it takes for those changes to occur.

What is occurring is one of those once every 500 years change. If you don't understand the value of an expert system for creating financial reports or if you don't think something like that can be built, you might want to tune your pattern recognition skills.



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