Whether you knew it or not, May 6 was International Management Accounting Day, as designated by the Institute of Management Accountants (IMA). In recognition of the day, the IMA’s VP of research and policy — Raef Lawson, PhD, CMA, CSCA, CPA, CFA — speculated on the next 100 years of management accounting.
Lawson reiterates that new technologies, like artificial intelligence and robotic process automation, are punctuating the management accountant’s daily activities and creating changes no one could have imagined 100 years ago. Some wonder whether they soon may be replaced by machines — if the profession doesn’t evolve with technology.
Lawson says six domains of core knowledge, skills and abilities outline the capabilities management accountants need to remain relevant and perform their roles effectively now and in the future.