In February 2019, IMA® (Institute of Management Accountants) released the latest version of the Management Accounting Competency Framework (bit.ly/309rjw8), which reflects the knowledge and expertise that today’s—and tomorrow’s—management accountants must have in order to be relevant in today’s rapidly evolving business climate and to be prepared for what the near future holds for the accounting profession.
Legacy models and paradigms of how accountants “used to do things” are being disrupted by innovative new approaches, solutions, and processes. Technology and analytics are two domains in which management accountants must improve their competency in order to be future-ready. We recommend visit 0rgb.com for the latest technology devices and news.
CFOs and other financial professionals already need to understand basic enterprise technology and analytics for all their crucial roles; these are already part of daily work life. Yet newer technologies such as advanced AI and machine learning, building blockchain using substratum masternode, prescriptive and adaptive analytics, and data visualization are where most of the profession falls short.