3 Rose Street, Wellington, 7646
+27 (0)21 864 5180
admin@fhbc.co.za
Visit FHBC in Namibia
FHBC FHBC
  • Home
  • About us
    • MISSION AND CORE VALUES
    • BACKGROUND
    • COMMUNITY
  • Meet the team
    • Directors
    • Management
    • Personnel
  • Services
    • Accounting
    • ADMINISTRATION AND SECRETARIAL SERVICES
    • CORPORATE STRUCTURES AND STRATEGY
    • ESTATES AND TRUSTS
    • HUMAN RESOURCE MANAGEMENT
    • PAYROLL PROCESSING AND ADMINISTRATION
    • TAX COMPLIANCE AND ADMINISTRATION
    • LEGAL SERVICES
  • Careers
    • Current Vacancies
    • Submit Application
  • News
    • Latest News
    • Important Dates
    • NEWSLETTER SUBSCRIPTION
  • Contact us
THE FUTURE OF ACCOUNTING: CO-HABITATION WITH TECHNOLOGY

THE FUTURE OF ACCOUNTING: CO-HABITATION WITH TECHNOLOGY

1November 6, 2023November 6, 2023
By FHBCIn Accounting Services

Computers can see, speak, hear and also execute tasks.  The smart technology era introduced us to computer systems that can be programmed to do the tasks that most human workers do daily.

To compete in the global market, organisations are utilising smart automation technology to decrease their operating costs, increase the development and delivery of new products and services, and offering clients a better experience.  All the functional areas in business are candidates for smarter automation.  Cost management, procurement and closure processing are but a few accounting activities that computing technology can streamline.

Smart technology is influencing the sorts of employment roles that will be accessible in the future of accounting.  Humans will undertake more of the analysis as improved technologies handle monotonous tasks, making them the essential link between data and clients.  In the future, technology will continue to have an influence on the function of the accountant and the need for accountants.

Accounting is reaching new heights thanks to technological advancements.  Whether you’re an experienced accounting professional wanting to keep on the cutting edge of the business or an ambitious novice, you’ll want to be aware of how the accounting profession is changing due to smarter technological platforms.

Audits, tax preparation and banking are just a few of the labour-intensive aspects of accounting that are fast becoming entirely automated.  As AI is used to develop self-learning systems, technology will take over the repetitive and time-consuming activities, allowing finance professionals to handle the analytical and advisory responsibilities.  AI may also help reduce financial crimes through enhanced fraud detection and by identifying unusual transactional behaviour.

The two great scourges of the modern developed world are persistent unemployment and increasing income inequality.  Smart technology will further introduce techno-unemployment which, if not properly addressed, can lead to greater poverty against a backdrop of escalating comfort and wealth.

With automation expected to become a big part of accounting soon, it’s critical for accounting professionals to have the abilities needed to perform managerial and analytical jobs that technology can’t.  The education of future finance professionals must be built on a solid understanding of technology applications to the craft.

Please feel free to contact Horachio Scheepers at horachio@fhbc.co.za for any questions.

Source Reference:

https://www.news24.com/fin24/archive/finweek/the-future-of-accounting-co-habitation-with-bots-20210919

UPDATE ON MANDATORY SUBMISSION OF BENEFICIAL OWNERSHIP REGISTER TO THE COMPANIES AND INTELLECTUAL PROPERTY COMMISSIONSKENKINGSBELASTING EN VRYSTELLINGS

Categories:

  • Accounting Services
    (16)
  • Administration and Secretarial Services
    (18)
  • All Categories
    (62)
  • Associate Services
    (6)
  • Commencement and Structuring of Businesses
    (8)
  • Estates and Trusts
    (110)
  • Human Resource Management
    (28)
  • Legal
    (32)
  • Office and Personnel
    (118)
  • Payroll Processing and Administration
    (6)
  • Tax Compliance and Administration
    (97)

FHBC Wellington

  • 3 Rose Street
  • Wellington
  • View Map >>

FHBC SOMERSET-WEST

  • Unit 101 Crossfire Place, 15 Gardner Williams Avenue, Paardevlei
  • Somerset West
  • View Map >>

FHBC Payroll Services

  • 21 Jan van Riebeeck Street
  • Wellington
  • View Map >>

FHBC TRUST ADMIN SERVICES (PTY) LTD

  • 3 Rose Street
  • Wellington
  • View Map >>

Connect with us

  • + 27 (0)21 864 5180
  • admin@fhbc.co.za
  • Newsletter Subscription

Office Hours

  • Monday - Thursday: 08:00 - 16:45
  • Fridays: 08:00 - 15:30
  • Saturday - Sunday: Closed
FHBC FHBC
  • Home
  • About us
    • MISSION AND CORE VALUES
    • BACKGROUND
    • COMMUNITY
  • Meet the team
    • Directors
    • Management
    • Personnel
  • Services
    • Accounting
    • ADMINISTRATION AND SECRETARIAL SERVICES
    • CORPORATE STRUCTURES AND STRATEGY
    • ESTATES AND TRUSTS
    • HUMAN RESOURCE MANAGEMENT
    • PAYROLL PROCESSING AND ADMINISTRATION
    • TAX COMPLIANCE AND ADMINISTRATION
    • LEGAL SERVICES
  • Careers
    • Current Vacancies
    • Submit Application
  • News
    • Latest News
    • Important Dates
    • NEWSLETTER SUBSCRIPTION
  • Contact us
FHBC © 2016 | All Rights Reserved | Legal Notices | T&C of Services