Accounting
Teach accounting students data visualization and analytics
Every day, executives receive spreadsheets filled with cash flow reports and income statements, but without context, these numbers remain meaningless, a squandered opportunity to guide strategy.
In this era of big data, advanced analytics, artificial intelligence, and instant communication, the opportunity — and, more and more, the duty — of the modern accountant is to transform these numbers into a story everyone understands.
At its core, “accounting” has often been equated with “bean counting” — the meticulous recording of transactions and preparation of financial statements according to established rules. However, the modern corporate world requires more than just compliance and precision. Stakeholders long for understanding. They must understand the significance of the numbers in addition to their numerical values. The pressing question is: “So what?” How do these numbers translate into better capital allocation, faster crisis pivots, and more strategic investments?
Without a skilled storyteller, accounting analytics’ ability to identify possibilities, predict trends and highlight subtle patterns is lost in spreadsheets. The most proficient accountants are able to “speak data” with the same ease as they can in the business language. Spreadsheets and ratios aren’t their only tool; they utilize them to create engaging stories that inform strategic decisions.
This change is particularly pertinent for the upcoming generation of accountants joining the industry. Corporations want individuals who can connect the dots and put those figures into context for executives, boards, investors and even frontline employees. They are not just looking for somebody who can crunch numbers. When used well, this storytelling method is a competitive advantage rather than merely an extra talent. Fostering these analytical and narrative skills can make our talent pool more flexible and creative in a world where the U.S. must continuously improve worker preparedness to maintain economic competitiveness.
Although there is an obvious need for this expertise, our educational system is still lagging behind. Teaching the fundamentals of GAAP, tax codes and auditing standards continues to be a major emphasis of the accounting program. Of course, these foundations are crucial. However, mastering them by themselves is no longer sufficient. Higher education must incorporate courses that instruct students in the proper interpretation, visualization and communication of financial data. Tools like Tableau, Power BI or code-based analysis platforms should be as familiar to future accountants as ledgers once were. This is a strategic investment in the nation’s economic health, not merely a question of freshening up curricula.
Educators can incorporate data visualization and accounting analytics into their accounting classes. In addition to asking, “How does this reconcile?” we might encourage students to question, “Why?” and “What does this mean?” This change won’t necessitate doing away with the old frameworks; rather, it will offer a new dimension by giving students the tools they need to come to insightful conclusions and communicate them effectively.
Accurately recording transactions and creating an income statement may be the main focus of traditional accounting education. Yet, what if the accountant could go one step further and, say, locate a hidden logistical cost increase as the product line grows, utilizing analytics and visualization tools? The accountant may clearly convey the following narrative when storytelling is added: “Our record sales are masking escalating shipping costs.” We can regain excellent profits if we simplify our product offers and renegotiate contracts. That is the type of story that gives confidence to the decision-making process and guides strategic choices.
Furthermore, transparency and trust are promoted via a compelling financial narrative. The capacity to properly explain what’s going on behind the scenes is crucial at a time when the public is worried about corporate accountability, intricate financial engineering and the opaque nature of some business operations. Some argue that accountants should focus on the numbers and let leadership handle the narrative, but this misses the point: Data-informed storytelling is an extension of the role of accountants to convey accurate, ethically sound information. Accountants assist the public and decision-makers in understanding the true situation when they present data in a truthful and morally sound manner. This degree of transparency not only helps us make better decisions but also enhances our markets’ reputation, which is essential to their long-term viability.
Ultimately, the “so what?” question boils down to measurable results: improved resource allocation, timely risk management and more effective strategic pivots. Let’s get past the old views in order to prepare the upcoming generation of accountants. Future accountants should be as proficient in performing variance analyses as they are in explaining them to non-experts, and they should be as at ease using data visualization software as they were with general ledgers. Numbers don’t just add up — they speak volumes in a world where global competition, rapid technological advances and more public scrutiny have transformed the landscape.
Now is the time for higher education and corporate leaders to include storytelling, data visualization and analytics into the core accounting curriculum. We prepare tomorrow’s professionals to simplify complexity, create trust and deliver better outcomes for businesses and society. It’s not about discarding away the “nuts and bolts”; it’s about using them to create a story that resonates in boardrooms, classrooms and beyond.
Aprio, a Top 25 Firm based in Atlanta, has acquired JMS Advisory Group, a firm that specializes in unclaimed property compliance and escheat process development, also based in Atlanta
Financial terms of the deal were not disclosed. Aprio ranked No. 24 on Accounting Today’s just released
JMS was founded in 2006 and helps clients mitigate risk and capitalize on opportunities through managed unclaimed property compliance. The team includes attorneys, CPAs, CFEs and others.
JMS has a wide range of clients, including enterprise companies, financial institutions, credit unions, insurance companies, hospitality and health care organizations.
“As Aprio continues its rapid growth, we are committed to expanding our services to meet the evolving needs of our clients,” said Aprio CEO Richard Kopelman in a statement Tuesday. “The addition of JMS gives us the opportunity to continue strengthening our position as a future-focused advisory firm. JMS’s focus on escheat management and asset recovery not only enhances our current capabilities but also allows us to deliver even more impactful solutions to help businesses navigate complex compliance challenges.”
JMS president and CEO James Santivanez is joining Aprio as a partner and provides guidance to clients on unclaimed property and state and local tax issues.
“We created JMS to make an impact nationally in the unclaimed property consulting industry, and I’m proud of our nearly 20-year history of helping clients mitigate risk and capitalize on opportunities resulting from accurate and properly managed unclaimed property compliance,” Santivanez said in a statement. “Joining with Aprio takes us to the next level, allowing us to build upon our success while providing even greater value to our clients. This is an exciting next step in our journey.”
JMS founder and director Sherridan Santivanez is also joining Aprio as a partner. He specializes in representing clients before state enforcement authorities and managing complex audits and voluntary disclosures for some of the world’s largest companies. She provides strategic guidance on audit preparation and navigates interactions with state and third-party auditors.
Aprio received a
The American Institute of CPAs and the National Association of State Boards of Accountancy are asking for comments on their proposal for an additional pathway to CPA licensure through
The AICPA and NASBA proposed the
The UAA changes would:
- Enable states to adopt a third licensure pathway that requires earning a baccalaureate degree with an accounting concentration, completing two years of professional experience as defined by Board rule, and passing the Uniform CPA Examination;
- Shift to an “individual-based” mobility model, which allows CPAs to practice in other states with just one license; and
- Add safe harbor language to ensure CPAs who meet existing licensure requirements preserve practice privileges.
The proposals come as several states are already moving forward with their own changes, including
The updates reflect feedback gathered during a late 2024 exposure draft period and forward-looking solutions being advanced by state CPA societies and boards of accountancy to increase flexibility for licensure candidates while maintaining the integrity of the CPA license.
The AICPA and NASBA are asking for comments on the proposed changes by May 3, 2025. They can be submitted through this
The UAA offers state legislatures and boards of accountancy a national model they can adopt in full or in part to meet the licensure needs of each jurisdiction.
The proposal would maintain the current two pathways to CPA licensure:
- Earning a post baccalaureate degree with an accounting concentration, completing one year of professional experience as defined by Board rule, and passing the CPA exam; and,
- Earning a baccalaureate degree with an accounting concentration, plus an additional 30 semester credit hours , completing one year of professional experience as defined by Board rule, and passing the CPA exam.
Small business employment held steady last month, according to payroll company Paychex, while wage growth continued below 3%
The
“Our employment data continues to show moderate job growth and wage growth below three percent,” said Paychex president and CEO John Gibson in a statement Tuesday. “The consistent long-term trend we’re seeing is a small business labor market that is resilient and stable with little job movement among workers. At the same time, small business owners are optimistic about future business conditions despite uncertainty about how to adapt to a rapidly evolving legislative and regulatory landscape.”
The Midwest remained the top region in the country for the ninth consecutive month with a jobs index level of 100.54. Seven of the 20 states analyzed gained more than one percentage point in February, led by Texas (up 2.11 percentage points).
Phoenix (101.92) increased its rate of small business job growth for the fourth month in a row in February to rank first among the largest U.S. metros.
Construction (3.29%) regained its top spot among industries in terms of hourly earnings growth in February, followed closely by “other services” (3.27%) and manufacturing (3.21%).
The pace of job growth in manufacturing gained 2.39 percentage points to 99.52 in February, the industry’s biggest one-month increase since April 2021.
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