More than half of surveyed accountants (57%) had no knowledge of coding but many of them are interested in acquiring this skill, said ACCA recently when releasing results of a survey.
According to the accountancy body, 40% of the 992 ACCA members surveyed in November 2020 are interested in learning how to code.
“Not every professional accountant may need to code, but even a basic understanding can add value to their organisations, help to differentiate themselves and open future career opportunities,” said Narayanan Vaidyanathan, ACCA’s head of business futures.
There are various levels at which you can get involved — from just a high-level awareness of what it is, to involvement as a user who can partner with specialists to more hands-on development of code itself, Vaidyanathan added.
According to ACCA, some of the benefits of coding include:
- a better understanding of the approach to data (88% of respondents), which means how it is organised, analysed, and flows through the organisation
- more informed strategic conversations on technology (88%) use and adoption due to a better understanding of what needs to happen in the background
- a valuable skillset that improves market value and career opportunities (85%)
Despite these benefits a lack of time is the most often cited barrier (84%), said ACCA.
This is not surprising as many people may not need coding immediately in their day-job, so it gets pushed back in the queue of priorities, ACCA observed.