Accounting and Finance in the Digital Age
Name of Sponsoring Organization: Elizabeth Gordon was the host of this virtual event, and Loreal Jiles was the main speaker.
Details of the activity: This virtual event occurred through a zoom meeting on September 29 from 6:00 pm to 7:00 pm. Loreal Jiles is the Vice President of Research and Thought Leadership at the Institute of Management Accountants. From today’s event, Loreal touches upon the idea of elevating your brand with digital technology. Loreal has 15 years of experience in finance, accounting, and technology in the energy industries. Loreal is a former member of IMA’s Global Board of Directors and is certified as a professional scrum master.
What you learned: From this event, I learned that technology has drastically changed. In the past, people often used typewriter machines and papers to write the data they collected. As technology evolves over the years, data analytics specialists and accounting experts often work with excel spreadsheets, laptops, calculators, and SAP Early Access to organize their databases. In current society, we have exposure to mobile devices and different types of Microsoft Office programs. More importantly, we are leaning more towards artificial intelligence and recognizing its importance. Artificial intelligence impact many businesses in a way that it increases productivity and helps accounting or data analytics specialists acquire data more efficiently.
Loreal explains the definition of Robotic Process Automation (RPA). It enables non-IT professionals to configure computer software to emulate human actions while executing business processes. Skills needed within Robotic Process are Process mapping and reengineering, internal controls, and active learning & investigative skills.
Loreal also explains machine learning. It is the practice of using algorithms to use data, learn from it and then forecast future trends for that topic. Skills needed within machine learning are data modeling and evaluation skills, probability and statistics, and advanced programming skills.
Lastly, Loreal explains data science. Data science is the concept used to tackle big data. It includes data cleansing preparation and analysis. Skills needed within data science are basic knowledge of ML & AL, Multiple analytical functions, SQL database coding, Python, SAS, and R Scala programming languages.
How the activity relates to coursework or your career goals: This activity is related to my career goals because I am interested in Web Development, Business Analytics, Cybersecurity, and IT Consulting. Data Science is a concept that aligns with my interests as it involves a basic understanding of SQL databases and other programming languages. Loreal explains the role of technology. Many businesses today focus on delivering value to their customers. They often work with technology or software such as Salesforce to help create solutions and meet their clients’ needs. Loreal also advises us to understand our foundation and core skills. This is related to my career goals as most internships or full-time positions within companies expect their employees or interns to possess a basic knowledge of programming languages. It teaches students like myself to truly understand what I am learning from my classes and be able to apply these skills within real-world applications. She also explains to practice written and verbal communication skills. This strengthens professionalism and creates a good impression of ourselves to companies. I find this meaningful as employees often maintain professionalism when working with their clients. Having good verbal communication with clients creates customer loyalty to the company. It also develops good relationships and expands networking connections to the company.