Fast, flexible training – accountants want more innovation

Accountants now spend more resources on staying up to date and they’re banging the drums for more flexible learning options.

The accounting industry is experiencing a cracking pace of change. No wonder accountants are hard to convince to take a second to see how they meet those changes.

And the problem is big.

There’s bamboozling new tax regulations that affect compliance almost each year and new technologies disrupt the profession on top of that.


Challenges for accountants’ professional development


Stacey Price, Financial Coach and Accountant for Healthy Business Finances, told The Pulse that training and development is now her second-highest cost after paying wages.

“I want my staff to be the best they can be,” Price said. “We have a training budget each year for each staff member. We ensure we spread the content out so we can cover as many relevant topics as possible.”

But there’s simply no way every team member can attend every course or training seminar. So, according to Price, staff must specialise.

“We can’t be an expert at everything. So, we niche down to providing expert training and coaching on accounting software, business management services, ATO compliance requirements and the startup space.”

Price still finds herself spending more on staff professional development than rent, software licenses or utilities. But the real headache is in the way training is delivered.

“All our staff work remotely in four different locations,” Price said. “The sooner education and academic providers can offer genuinely flexible training, the better.”

“There are plenty of CBD-based training options you could attend in a lunch break, but when you’re based outside the CBD it becomes more difficult.”


Hunting out innovative training options


“We’ve embraced technology in all we do,” said Price, “but some of the training providers are far too old school for my liking.”

And Price isn’t alone in facing this frustration.

To help remove this headache, MYOB’s Head of Partnerships, Simon Dennis believes accountants using MYOB Accountants Enterprise or Accountants Office could try tax e-seminars to get up to speed.

“Tax e-seminars are the simplest and most effective way to learn about new tax changes without creating a huge disruption to your schedule.”

“Every year, MYOB gathers the most relevant information you need to stay on top of your compliance work, packaged and delivered via LiveChat online.”

All the updates you need are explained in the comfort of your office (or poolside, if you’re so inclined). Having booked and entered a live session, attendees can stop, pause or re-watch when they need to, so it’s flexible training.

Key tax updates for 2018:

  • Changes to country-by-country reporting
  • Capital gains tax for foreign investors
  • Reducing the company tax rate
  • Superfund changes
  • Rental travel deductions
  • New treatment of reportable fringe benefits
  • Non-resident individuals with outstanding HECS/TSL debt
  • Changes to labels D10 and 24Yy (cost of managing tax affairs and ATO interest)

“MYOB’s tax e-seminars are the best way to learn about tax changes and how they affect MYOB’s practice solutions software,” Dennis said.

“Our presenters will also be discussing the recent Federal Budget, new tools in our software, as well as hints and tips direct from MYOB Support.”

You can sign up for MYOB’s 2018 tax e-seminars today.