| | | | | number of international students who go to |
| Today the term globalization has become more | | | | college to major in accounting in the US is |
| popular to people. The world's economy has tuned | | | | increasing. This will have both positive and |
| to a new age that trading between countries is | | | | negative impacts on accounting in the US. A large |
| easier than ever. Yet, globalization has affected | | | | number of international students will be a good |
| and really changed the world from heavy | | | | source for accounting in both the Us and |
| industrial, manufacturing, services, transportation, | | | | countries. The US will be able to take advantage |
| and education. It even affects on the accounting | | | | of international accounting students as they return |
| careers today. | | | | home and implement what they have learned. |
| In this paper I will focus on | | | | However, there will be a large number of |
| three main issues of globalization that affects on | | | | students who will stay and work in the US after |
| accounting careers in the near future. | | | | graduation. This will create an unbalance in supply |
| The role of Information technology affects on | | | | and demand in the US accounting job market. |
| accounting career | | | | With the effect of globalization, today accounting |
| International students and new immigrant | | | | students can work for the big 4 companies in |
| population | | | | Asian countries or for accounting firms in |
| Changing in International trading between countries | | | | European countries. Future accountants in these |
| The rapid growth Information system and the | | | | positions will require more traveling and additional |
| Internet not only changes the way people trading, | | | | education. Since accounting systems are still |
| but also changes accountant's roles. The | | | | different in different countries, accountants need |
| accountant's role has been expanding within | | | | to study different rules. The most important skill |
| organizations and they are becoming part of the | | | | would be understanding and communicating |
| management and decision-making team, rather | | | | efficiently in a different culture. English is still the |
| than just providers of financial information. | | | | first choice in international trading, but Spanish and |
| Corporate accountants must shift priorities from | | | | some other languages are also necessary. |
| analyzing past events to acting as strategic | | | | According to USA Today, "In an interview, Sir |
| partners, advisers and information providers. | | | | David Tweedie, chairman of the International |
| Already, accounting and finance professionals are | | | | Accounting Standards Board in London, says the |
| mining data, turning information into knowledge | | | | growth of the global economy means "we must |
| and communicating what they learn to all levels of | | | | eventually end up with a common system of |
| the organization. This is a result of having a new | | | | regulation, auditing and accounting." Change in |
| option in accounting education. Most colleges and | | | | International trading between countries is the |
| universities realize the importance of information | | | | beginning of change the accounting rules. This will |
| technology, so they have added a new track that | | | | be a big challenge for international accountants. A |
| is called Accounting Information System to their | | | | common rule for accounting might be made to |
| school program. | | | | simplify the accounting job. In addition, most of |
| Internet and information technology created a | | | | the companies in the US need to expand their |
| revolution in storing, managing, and using business | | | | market to remain competitors. When those |
| databases. Some traditional accounting job will be | | | | companies globalize, they also need to globalize |
| cut in the near future with more and more people | | | | their accounting system. A switch from GAAP |
| use accounting software for tax preparation. | | | | to IFRS will be a good solution. Currently, there |
| Additional advancements in information technology | | | | seems a hesitance in switching because the |
| further reduce the need for accountants and | | | | change from GAAP to IFRS may affect to the |
| auditors. However, Increase of applying | | | | benefit of company. This also requires a change in |
| information to accounting will create new jobs. | | | | some accounting college level courses. In |
| And those new jobs will require accountants to | | | | Future of Accounting System, Zin Lin says "It is |
| receive more education. They will be hired into | | | | clear that many of the disadvantages of IFRS are |
| positions to develop, maintain, and monitor new | | | | just short term, for example the costs of |
| systems. Because there will be larger volumes of | | | | transition; while the advantages are long term." |
| information to report and the increased | | | | For me, sooner or later, the change needs to be |
| complexity of reporting mechanisms, demand for | | | | considered to fit with International trading. |
| auditing or monitoring services by both internal | | | | Accounting careers are being affected deeply by |
| and external auditors should also increase in the | | | | globalization. Accounting in the future will require |
| future. According to Bureau of Labor Statistics, | | | | not only specific knowledge but also must change |
| "Individuals who are proficient in accounting and | | | | with the globalization. Accountants will need to be |
| auditing computer software and information | | | | well prepared in computer skills, the ability to learn |
| systems may have an advantage in getting some | | | | new softwares and new accounting rules. All |
| accounting and auditing jobs." | | | | accountants must be prepared to work in an |
| Globalization opens opportunities for international | | | | international, world-wide environment. |
| students to study in the United States. The | | | | |