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1. What key technologies are driving changes in the accounting industry in 2024?

• blockchain

• AI and blockchain

• artificial intelligence

• cloud computing

2. What challenges is the accounting field currently facing?

• The starting salary of an accountant is usually higher than in other fields

• The change in new regulations reduces complexity in the field

• A shortage of professionals due to a decline in the number of accounting graduates

• The rise of AI, automation, and blockchain is reshaping the profession

3. Why is the 150-hour CPA requirement controversial?

• It is seen as a barrier to entry, adding costs and delaying career entry without significantly improving skill development.

• It drastically improves skill development and job performance, making new accountants highly competitive.

• It is the quickest way to obtain the CPA license, allowing students to enter the workforce earlier.

• The additional 30 credit hours always focus on advanced accounting skills, making the requirement essential.

4. How are firms addressing the talent shortage in accounting?

• Firms are not reducing salaries but increasing them to attract talent.

• Embracing remote work, not eliminating it.

• Focusing on attracting new talent, not increasing working hours for current staff.

• Using contract professionals, offering remote work options, and increasing flexibility and salaries.

5. 5. CPA stands for

6. What is the impact of ESG reporting on the accounting industry?

• Companies are increasingly seeking accountants skilled in environmental, social, and governance (ESG) reporting to meet new regulatory requirements.

• ESG reporting has made traditional financial metrics obsolete, eliminating the need for standard accounting practices.

• All accountants are now required to specialize solely in ESG metrics, regardless of their other skills.

• ESG reporting is irrelevant to financial reporting and has no impact on the accounting profession.

7. What is the overall message for accounting firms in 2024?

• should focus on traditional methods and avoid adopting new technologies to remain competitive.

• need to embrace technological innovations and adapt to structural changes to stay competitive and address the ongoing talent crisis.

• should prioritize manual processes over automation to reduce costs.

• should reduce investment in employee training since technology will handle most tasks.

8. 8.Antonym of the word "advocating":

• • Endorsing

• • Championing

• • Backing

• Denouncing

9. 9. What is the impact of ESG (Environmental, Social, and Governance) reporting on the accounting industry?

• ESG reporting does not affect the accounting profession or require any specialized skills.

• ESG reporting is only relevant for small businesses and not large corporations.

• Accountants skilled in ESG reporting are increasingly in demand to meet new regulatory requirements.

• ESG reporting has reduced the need for financial transparency in corporate reports.

10. 10. Do you like my group's presentation?

• Yes

• Yes