’Why accounting?” That was the central question posed by IMA^® (Institute of Management Accountants) President and CEO Jeff Thomson, CMA, CSCA, CAE, during the third of his “Series for the Future” videos. The series examines some of the most pressing issues facing accounting in the midst of global shifts and increasing automation. You can view the recorded presentation here.

For this third installment, Jeff focused on what sparks the interest of Millennials (those aged 21-33 years) and Gen Z (those under 21). The key factors? Making a difference to society and corporate social responsibility, defined as “people, planet, and profits.” Jeff also observed how the digital wave is igniting innovative approaches to problem solving: “We’re not just thinking outside the box – we’re throwing away the box.”

Jeff then explained how the accounting profession can satisfy the demands of today’s younger professionals. He emphasized the focus on sustainability and integrated reporting, practices being adopted by more and more organizations around the world. He remarked, “Accountants are stewards of value. We’re about being a catalyst for future results that impact society. We’re not just about creating balance sheets but about identifying leading and lagging indicators through which we can provide insight and foresight.”

Jeff also discussed how technology is changing the roles and responsibilities of accountants and that moving forward, skills such as data analytics, data visualization, and even storytelling will be increasing prized.

Previous installments of Jeff’s “Series for the Future” focused on automation and globalization. You can view the January 2018 presentation here and the October 2017 presentation here.

To keep up with the latest IMA news, including information about this session and upcoming “Series for the Future” events, be sure to check IMA’s Facebook, Twitter, and LinkedIn accounts.