Malaysia needs 60,000 accountants turns to achieve the High Income Nation study by 2020 that announced by the Government. It shows that the Government recognize the role of accountants in the economy. The accountants are passionate and committed in ensuring that the objective is accomplished.Nonetheless, it is not an easy task although there are currently about 33,000 accountants registered with the Institute. How the technology changes the business landscape? In old days, people record the business transaction through manually.Nowadays,when the computer introduced, when have excel develop frame efficiently in workplace.
How the future trend affect the role of accountant? First of all, with advancement technologies as a accountant must be aware and use our creativity and always remember that to understand change in technology plus the fundamental knowledge that we can learn which always excel in our career no matter how advance its change the technologies it still need to know fundamental.For instance, double entry it would not change as it will regardless how advance is a accounting software that we are using with the creativity that we have to know how to make the records in the book reflect the transaction. The accountant strongly encourages its members to embrace technologies as it means of moving forward instead of record past transaction. They also must equip themselves with analytical skills and sharpen their communications skills.
Next, globalization also impact in future career. When the people can move easily from country to country where the business transaction will be transacted from country to country easily or more commonly. Thus, these are which will impact to our career. Accountants works on provide global updates and trends that are taking place in the business world to prepare for the present and future.
What is cryptocurrency and how it influences the financial market? Cryptocurrencies is a digital currency which designed to work as medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to very the transfer of assets. The first crypto invented was Bitcoins.
A significant part of the cryptographic forms of money’s prominence and security favorable circumstances are gotten from its pivotal mechanical development. Cryptographic forms of money offer a simple to-utilize, advanced option in contrast to fiat currencies. At their center, digital forms of money are sections in a changeless and pseudo-unknown database, known as a blockchain.The blockchain is an open record that is checked by numerous different nodes, which makes forging coins to a great degree troublesome or inconceivable. Amid next 5-10 years , the pattern of cryptographic money and blockchain innovation advancement will be completely positive. An ever increasing number of states would formally acknowledge and sanction digital forms of money, actualize blockchain innovations in routine procedures, exchange their land, training, restorative, budgetary registers and bookkeeping frameworks.
Specifically,the non-connected nature of the market makes cryptographic forms of money a potential fence against hazard, like valuable metals like gold. Numerous cryptocurrency exchange-exchanged products (ETFs and ETNs) have emerged for this very reason.Then again, some specialists expect that a cryptographic money crash could adverse affect the more extensive market, like how mortgage-supported securities started a more extensive worldwide budgetary emergency. It’s important, in any case, that the aggregate market capitalization of all digital forms of money is not as much as that of numerous open organizations, for example, Microsoft Corp, which implies that it might not have a significant effect on global markets.
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