Expert Says Specialization Only Option for CPAs
The president and CEO of cpa.comsaid that this trend started to show about five years ago when about ten percent of accountants were considered as specialists. A recent survey shows that currently 33% of accountants consider themselves specialist.
He added that it is all about differentiating yourself in today’s world to be successful.
Mark Feinsot said that same sections of IRS codes are used by aviation sector as anyone else but its application is different to this sector. You will not be able to apply these sections properly if you don’t have knowledge of business. He further added that having previous experience in the business assists in providing better service to client.
Geoffrey Moore, business strategist, explained that it is important to be specialist to stay relevant and how the organizations are shifting towards the use of specialist.
Asgeirsson mentioned some of the growing specialist fields like dentist, not-for-profit, physicians etc.He added that good thing about these specialties is that you are not restricted to a specific area and can go global.
In the end the question is whether you really want to be a generalist maintaining and processing data without giving any business recommendations and information analysis. If this is the situation then the customers will soon switch to any software to do this job.Now this is a difficult decision for the firms to make whether to be a generalist or a specialist. If firms choose to be a generalist then they would be a numeral bookkeeper. But if they choose to be specialist, they would go for the value providers and reliable advisors.