Increasingly, I am coming across businesses that do not have a clear understanding of the value of good accounting practices and strategic financial leadership at the onset of their business.
The accounting profession is in the midst of a quiet but seismic shift. Thanks to Lloyd Alexander for shedding light on a growing issue that too often flies under the radar.
The numbers are concerning:
- A global shortage of 3.5 million accountants by 2025
- 75% of CPAs are expected to retire within the next decade
However, this challenge is not just about filling open positions—it is about addressing how the profession is perceived.
For too long, accounting has been viewed as boring, back-office work, buried in paperwork. At the same time, business owners are increasingly seeking strategic financial guidance.
Over the past decade, the landscape has changed significantly:
- Technology has automated routine tasks
- Business owners now expect financial insight, not just recordkeeping
- Finance leaders are being invited to the strategy table more than ever before
Despite these changes, the public image of accounting has not kept pace.
As a result, an entire generation is left uncertain about whether accounting is a career path worth pursuing.
From my experience as a Fractional CFO, I have seen firsthand how the role of finance has evolved. Today’s finance leaders are:
- Translators of data into decisions
- Builders of resilient business models
- Connectors between vision and execution
This shift is not about filling roles—it is about redefining them. And it begins with how we talk about accounting:
- Not as paperwork, but as purpose
- Not just compliance, but clarity
Let’s keep the conversation going.
What do you think is needed to reshape the future of this profession?
Magda Fuentes | CEO
BluRayne Consulting, LLC
O: (203) 220-1687