Because AI driving is already being demonstrated and tested. It may be a decade off but, seeing the nuts and bolts of accounting systems, being rid of accountants not going to happen in the next 20 years. Tbh I'd say never, simply because of the sorts of decisions that have to be taken. You might lose data processor jobs, but not actual accountants.
What would you call an average wage?
- Thread starter Sparky
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I am on minimum wage.
Give me the details, please. Tell me how I can quit my job, go on benefits and not be substantially worse off. You say it happens often. Please tell me how to do it so I can do it.
For faultless AI, requires very well written software. I've never met a programmer who can write faultless software. It's complex so it's normal to expect bugs. They'll eventually get there, but it'll take a lot of time and learning.
Soldato
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Well it seems to work on the council estate in Hull, rent paid for, 3-4 holidays a year. Kids with different last names. When I tried it when I was made redundant I got the basic amount as I was being responsible and had a mortgage. It was more a point that if you have 2 kids there is no point working if they are at nursery age and you earn less than that amount.
Your direct experience is the opposite of what you claim is true. And you still haven't told me how I can do what you claim can be done.
No, it wasn't. It was the usual "benefits pay more than working" spiel:
No mention of children or nursery school costs or anything of the kind. Nor was there any in the post you were replying to, so it wasn't a matter of it being implied by context.
Soldato
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Not sure if you're being obtuse on purpose or not. I've stated its better in some instances to not work, although certain families seem to be bred into it. It's going to be very much a case by case issue. In your case do you have a partner and if so do they work? Do you have a mortgage or rent, that seems to be the biggest factors as at the time my Mrs earn sat 30k so nowhere near minimum and we had a mortgage which meant I got the grand total of ~65 quid a week. Some people my wife dealt with had multiple holidays but yet neither of them worked. I've no idea how (or how much debt they were in) that's just what I got told. I realise that's very anecdotal.
We found that it was better my (EX) partner worked part time (tax credits) spending every spare minute with kids rather than the fad for farming them out to a nursery (why bother having them) and having a full time job,, I was on a crappy wage but I'm here and surfing tomorrow, how does that work?? My kids are a scientist and an archeologest, boom (wine is good)
Soldato
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Never said benefits pay more than working, they dont. But my expenses are very low, i basically just sit here on the PC if i am not at work. I could live on the lowest wage. But i want to save money towards my goals etc.
Good link for those that have spent the last 5-10yrs insisting the housing crisis can be solved by "move out of London then"
It is an option for many. Not everyone but many!
My point to that is more that (1) everyone needs to realise that although yes London is expensive, housing unaffordability is not unique to this city as demonstrated in the chart where London is well down in the rankings now and (2) it doesn't help the wider problem of rife landlordism, property speculation, foreign buy-to-leave investors, stupid tax breaks etc. that continue to pump up the prices well past 'normal' affordability ratios.
Rife landlords is probably the biggest issue. It sure was for me. Renting is shocking expensive. I'm not sure what it is like around the country but around Cardiff the rent to mortgage ratio is way off. Much worse than around Peterborough where I used to live.
1 bed flat, grotty, electric heating = rent 550ppm
3 bed detached house = mortgage 800ppm
To clarify. Same area. 15 percent deposit.
250 more cost waay waay more Space.
Feels broken.
Kind of shocking how so little extra a month gives you not only so much better living. But also you're obviously no longer funding a landlord
Go to Cambridge or places like that and yeah it's worse than London.
Stupid house price rises pushes up rent prices and that wage that could be fine isn't. Purely due to rent.
I’ve got a skewed perspective living in London and working in Finance. Most of my peers at work, and friends who work in other professional fields are on £80k to £140k.
This doesn’t go very far down here, as a very average 2/3 bed terrace sets you back £850k in zone 3/4.
This doesn’t go very far down here, as a very average 2/3 bed terrace sets you back £850k in zone 3/4.
It doesn't have to be faultless it just has to be as competent as a mediocre accountant
The thing is, sometimes internal facing roles can be worse because it can be harder to say no and/or the internal people have more knowledge to push back. Generally, I've found dealing with professional clients you tend to get treated with respect and you can often get support from others in the organisation compared to having to deal with things on your own. Maintaining an image can be just as prevalent internally, bearing in mind your internal relationships are likely to outlast client relationships.
dlockers
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dlockers
100%. I really agree with this. Clients have their own bothers and problems, internal staff only have more internal problems
Keep trying to tell this to my client facing other half who seems to think an internal role will be less stressful!
Using robotic and analytic process automation to tackle order to cash, record to report and purchase to pay is already here. Natural language processing in PowerBI can already write basic variance commentary as well as a poor to mediocre accountant. It's not as far off as people think. Commercial acumen, strategic business advice etc. is still relatively safe but accounting in the traditional sense is already under threat.
dlockers
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dlockers
Accounting is about decisions. AI can't take decisions.
Accounting is about the application of a standard set of rules governed by an international set of standards. A large proportion of a traditional management accounting job can be relatively easily automated. Certainly easier than AI that can drive a vehicle which has to contend with humans and their erratic behaviours. There's no erratic behaviour to accommodate in accounting software.
The strategic business advice component is where accountants need to pivot to and utilise their skills. The role of an accountant in the future won't be posting journals or calculating tax charges etc. All roles\industries evolve over time. Look at how many software engineers a car company now has to employ for their vehicles to work correctly. In accounting, you'll need more data scientists etc.
dlockers
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dlockers
Finance Operations has been outsourced for decades. AI is competing against an ROI of $40/seat/day.
The standard set of rules you mention are also interpreted rather than directly applied. That is why accountancy is a skilled role versus lesser skilled finance operation roles.
Posting a journal is certainly basic but that isn't a job for AI anyway, that is RPA. Calculating the value and where it should go? Yeah no way a black box AI is doing that.