IT Skills For The Digital Accountant..
IT Skills For The Digital Accountant..
IT Skills For The Digital Accountant..
SILICON
A.J.SILICON
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Presentation Outline
Introduction Traditional Accounting Functions Evolution of IT Usage in Accounting IFAC & Curriculum Business Applications of IT Changing Role of the Accountant Career Opportunities in IT Relevant IT/Accounting Certification Recommendations & Conclusions Questions & Comments
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Objectives
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To address IT requirements for the Accountant of today. To highlight importance of International Federation of Accountants (IFAC) and International Education Practice Statements (IEPS) To address IT training requirements, certifications and career opportunities for digital accountants.
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Introduction
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Information Age is Here IT Tools , Techniques & systems in use by all businesses individuals, corporate bodies, businesses, government and educational institutions
IT deployment
Improves efficiency Lowers costs Achieves higher productivity and ensures Optimal deployment of human and material resources. IT affects every profession and daily living. IT affects business, operations and entertainment. Accounting Practice dependent on IT Systems
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Definition of Accounting
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Accounting is the record keeping process by which property and transactions connected to a business are controlled. Generally, it is the systematic and regular recording, classifying, sorting, analyzing, and interpretation of business data to produce information for decision making
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IFACs Role
IFAC
IFAC celebrated its 30th anniversary in November, 2007 Membership -1977: 63 professional bodies today:155 members and associates in 118 countries Represents 2.5 million accountants in public practice, education, government service, industry and commerce
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IFACs Role
IFACs Mission
Establish and promote adherence to high quality professional standards
Further the international convergence of such standards Speak out on public interest issues where the professions voice is most relevant
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IFACs Role
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IFACs Role
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IFAC Standard Setting
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IFAC
Forum of Firms
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International Education Standards (IES) Prescribe the range of professional knowledge, professional skills, professional values, ethics and attitudes required; Develop an attitude of lifelong learning; Focus on learning outcomes, not inputs; Promote consistency and convergence in accounting education.
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IEPS 2.1
Titled : Information Technology for Professional Accountants. Divided into three sections Section 1 Pre-qualification IT Knowledge and Competency Requirements Section 2 Post-Qualification IT Knowledge and Competency requirements Section 3 IT Knowledge and Competence for Audit Professionals
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Business Applications of IT
Office Automation Tools Accounting Packages Modules in Accounting Packages Other Application Software
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Accounting Packages
Small & medium scale
DacEasy PeachTree QuickBooks Sage
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Insurance and e-Payment Systems Pension Administration Systems Manufacturing Systems Microfinance Systems
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Traditionally, accountants are expected to be well versed in all things business. Accountants should be seen as a valuable source of advice as IT and E-Commerce specialists
Accountants have to work fast to convince their clients and organizations that they can provide the advice they need
IT does not introduce new audit objectives.It introduces new levels of risk and forms of business records .
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Involvement in defining e-Commerce strategies, from strategic pricing to understanding the cost/benefits of each piece of IT and knowing how to hire good people. Involvement with customer resource management database, which involves leveraging data and slicing into content for different market segments.
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Digital Accountant.. Defining new structure[contd]
Act as a bridge between the worlds of technology and finance. Focus on internal processes and applications that cut across departments to link customers, suppliers, and other business partners electronically Look beyond their own walls for successful eCommerce models
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Career Opportunities in IT
Information Systems Manager Information Systems Designer Information Systems Auditor Data Centre Manager Financial Control & Strategy Manager Business Systems Consultant Internal Control/Inspection Managers IS Audit Managers E governance managers Revenue Assurance Analyst Chief Information Officer IT Security Consulting Disaster Recovery Specialist Bank Examiner/Supervision with CBN/NDIC
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Relevant IT/Accounting Certification ICAN TCI Programme Auditing Applications & Certifications Other IT Certification for Accountants
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Module 1 & 2 are Compulsory for ICAN Induction Modules 3 is not compulsory but very necessary
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Auditing Certifications
CISA CISM CISSP ITIL
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Conclusion
IT offers great benefits to any economy. As it continues to gain acceptance in Nigeria, the initial divide with the rest of the global market will be bridged. IT training has become a priority for professional development for Accountants. Organizations will seek only professionals who have relevant IT skills
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Conclusion[contd]
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Every accountant must ensure that he is IT compliant by getting HANDS-ON training on Accounting & auditing packages after undergoing training on Computer Fundamentals. It is hoped that we will ALL embrace ICAN TCI program to guarantee IT compliance as required by the Institute to ensure a rewarding career in this information age.
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A.J.SILICON
08034020754,08055272046 [email protected]
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