Hartford Business Journal

8 Hartford Business Journal • March 9, 2020 • www.HartfordBusiness.com By Natalie Missakian Special to the Hartford Business Journal W ith automation and artificial intelligence taking over more of the routine and time-consuming work in the account- ing world these days, the role of the professional accountant is slowly shifting from number- cruncher to business advisor. As a result, accounting firms now want new hires who not only know how to balance the books, but also have the skills needed to analyze and extract meaning from the reams of data that are increasingly being com- piled by machine-learning models. "We're looking for someone who's comfortable not only working with the data, but also with understand- ing what it means and how it could be useful for a business," said Mi- chael Pelletier, partner and chief in- novation officer for West Hartford- based accounting firm blumshapiro. The most innovative firms are also looking to hire data scientist/ac- countant hybrids who can help them create new AI systems, or customize off-the-shelf software to suit their own firms' needs, he said. Colleges and universities around Connecticut have been responding by adding more technology and data analytics components to their tradi- tional accounting programs. Some, like UConn and Sacred Heart University, have begun offer- ing graduate certificate programs in accounting analytics or data analytics concentrations within their master's in accounting (MSA) programs, while others are encour- aging accounting majors to minor in business analytics or data sciences. And all of the schools interviewed by HBJ said they are also incorporat- ing aspects of emerging technologies and analytics into their undergradu- ate and graduate accounting courses. The changes come in response to feedback from employers, new accrediting standards set by Associa- tion to Advance Collegiate Schools of Business, and a recent push to test additional technology concepts on the CPA exam, school officials said. "This is not taking any accounting department by surprise," said George Plesko, director of UConn's account- ing program. "We've been seeing this trend taking place and adjusting accordingly." UConn in 2018 launched its online graduate certificate in accounting ana- lytics, a 12-credit program that helps students "operate with an analytics mind- set," according to the program's website. The certificate program covers audit, tax and financial software as well as data visualization software such as Tableau and Microsoft Power BI, and focuses on topics such as fintech, cryptocurrencies, web scrap- ing, blockchain and data modeling. UConn also offers an analytics spe- cialization within its MSA program. Building quantitative skills on top of accounting fundamentals "allows those new hires to essentially jump in and do the kinds of tasks that, years ago, it might have taken a second or third year person to do," Plesko said. That's important since many firms are now using technology like robotic process automation for data entry, report generation and other rote tasks that were once done by entry-level employees. Business meets IT Central Connecticut State Universi- ty added an optional business analyt- ics specialization to its MSA program FOCUS: ACCOUNTING Market Correction Amid shifting industry, college accounting programs add technology, data analytics courses Nelson Alino, Quinnipiac University's accounting department chair and MSA program director, is shown instructing a student. He says his school has woven technology into all accounting courses. Michael Pelletier, Partner and Chief Innovation Officer, blumshapiro PHOTO | CONTRIBUTED

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