CPA – Digital Finance

A very topical new Elective

In today’s rapidly evolving digital landscape, accounting and finance professionals need to stay ahead of the opportunities and challenges presented by emerging technologies and other digital disruptors. This subject explores the complex world of digital finance and provides you with the knowledge and tools needed to apply to emerging technologies. On completion of this subject, you should be able to:

  • examine where we are today, and where we are headed in the near future, with technologies such as Artificial Intelligence, Machine Learning, Robotic Process Automation, big data, digital payments and digital currencies
  • apply your knowledge and translate complex digital finance concepts and terminology to support informed strategic decision-making around the use of key digital finance technologies in business
  • use your insights into digital finance technologies to navigate the changing technological environment in which accounting and finance professionals work
  • examine the regulatory and organisational implications of digital finance technologies and how they can be applied in a range of settings including compliance in organisational contexts.

Why Data Literacy and a Digital Mindset are important to Accountants

Data literacy skills are essential to modern business success. Josh Bersin, founder of Bersin by Deloitte and globally recognised thought leader in talent management, recruiting, and technology, noted recently in a Harvard Business Review post:

“Data literacy has become important, for almost everyone. Companies need more people with the ability to interpret data, to draw insights, and to ask the right questions in the first place.”

A digital mindset involves rethinking entire business and operating models in addition to the adoption of new technology. This does not mean that finance professionals need to become computer programmers or data scientists, but they do need a firm foundation in digital literacy.

Digital literacy requires knowing enough about the applications, benefits, costs and limitations of technologies to be able to assess their value to the organisation and support their effective implementation. A digital mindset, data literacy and effective evaluation and use of technology should be embedded in the business and drive decision making.

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