A recent article from CPA Canada, summarized here, shares why CPAs should develop coding knowledge. Read the full article on the CPA Canada website, here.
Not so long ago, coding was thought of as a skill only tech professionals needed to know. However as the role of a CPA continues to change and evolve, coding has become a beneficial skill for CPAs to possess.
The CPA Canada report, Why Should CPAs Code?, found that this trend is occurring faster than many believe. The report shared that current finance job postings now include skill requirements such as:
- the ability to promote automation using basic programming and advanced data analysis tools;
- strong knowledge of programming languages, such as VBA, Python, R and SQL, and data modelling tools;
- the ability to collect, manipulate, and interpret data to isolate key trends and summarize findings into concise and informative reports; and
- the ability to develop tools to support deep-dive analysis.
Therefore, as the role of a CPA changes, your skills and knowledge must change as well. Here are four tips to help those who are hesitant about adding coding to their skillset.
1. Embrace new tools
If you’re uneasy about jumping into the world of coding and programming, start by exploring tools that help with data analysis and visualization. Getting familiar with tools such as Tableau and PowerBI can help you dip your toes into this is new area. Once you’re comfortable with the program’s purpose and how to use it, you can help make a larger leap.
2. Take it slow and steady
Like with any new skill, taking small steps at the beginning is the best course of action. As you start coding, first try automating tasks using formulas (in Excel for example), then move onto more advanced programming languages. like Macros or VBA. To help, CPA Alberta offers a number of professional development opportunities for those to become familiar with Macros, VBA, and automating tasks.
3. Know your strengths
Although coding will not supersede the traditional expertise a CPA possess, having some knowledge in this advanced area will help you and your organization drive efficiency and use technology to your advantage. For those uncertain about their strengths and skills gaps, CPA Alberta offers career services and psychometric assessments to help you pinpoint these areas, as well as develop career maps and identify and create actionable development plans.
4. Adopt a growth mindset
As more and more tasks and processes begin to automate, CPAs should adapt to this changing environment. As mentioned, the core competencies of a CPA’s role will remain intact, but gaining some knowledge of coding will be helpful in the future. It is important to note, depending on your role and seniority, levels of coding knowledge may differ. Those in junior positions may require more coding expertise, while those in more senior roles may need less. Understanding your role and future responsibilities will dictate how much coding knowledge you should possess.
Learn more
You can read the full article on the CPA Canada website.
