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Essay / Accounting training: the future of accounting
What does the accountant of the future need to succeed? A solid education which, although based on traditional accounting practices, also prepares future accountants for the plethora of changes occurring in the accounting world. Often, most institutions responsible for training professionals do not evolve as quickly as professional practice itself (Bedford et al. 4). In all respects, accounting is growing and for the future to have competent accountants, accounting education must also grow. Major changes occurring in the world of accounting include the expansion of services and products, changing competition, increased specialization, and an increase and advancement in technology. It is up to academic institutions to find proactive ways to prepare students for such changes. Accounting education of the future will require greater breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides general knowledge of accounting as well as increased knowledge. specialization, as well as a greater and proactive focus on the use of ever-evolving accounting technologies (Bedford et al. 8). The possibility of a change in accounting standards, from US GAAP to IFRS, is also at stake. Although there is no certainty about the threat of such a change, American students should acquire at less a general and basic idea of the practices used in IFRS. The future health of the accounting profession depends, to a large extent, on the health of our students (Gormon and Hargadon 4). The reorganization of the programs would undoubtedly be difficult and apparently long, but nevertheless completely