The future of accounting is bright according to Statistics Canada, which projects a 34% increase in job openings by the year 2009. Much of this is due to the increasing complexity of corporate transactions and growth in government. Demand is especially high in the tax and health care areas.

The requirements that accountants were once expected to possess are changing drastically as companies need people who can analyze data as well as process it. Diverse skill sets are highly regarded, in addition to the financial expertise. Companies are seeking accountants and financial experts who have had a variety of experiences in various environments as job responsibilities are changing and departments are merging. From international experience to being technologically savvy, the expectations of accounting professionals has changed significantly over the last 10 years.

Communication skills are also desired as the need to have accountants who can communicate financial information to non-financial colleagues has become a necessity. It is becoming common-place to have more than one department collaborate on a project, and in those circumstances it is imperative that all parties have a functional understanding of their data.

Accountants are working on their image. On the topic Mitchell Klein, a partner of Fasman, Klein & Feldstein, a New City, N.Y., accounting firm, said "Too many people associate accountants with death, tax and bad news and question our integrity because of the big audit failures that major accounting firms have failed to catch." More accountants are making an effort to improve their relationship building and networking skills as they see the benefits it has had for both personal and professional advancement and reputation.

A recent survey found that over half of corporations which hire accountants feel that the CA, CGA designations and the CMA can be deemed important, however, there is also rising demand for persons with consulting skills or industry experience and falling demand for college graduates. There is high demand for individuals who can go beyond technical skills and display good interpersonal abilities and foreign language skills. Accountants are broadening as business globalizes and becomes more team-oriented.

An interesting option for persons interested in not spending their entire lives in the office is to become an contract accountant. There is high demand for specialized accounting temps and firms have started to hire contract employees to smooth out their staffing through seasonal cycles in the business.

Accounting and financial professionals who are willing to adapt to change, be open to new responsibilities, identify their areas for improvement and commit to new learning experiences are headed for success in the future of their careers. Becoming comfortable with the changing field is a great way to keep in step with the trends in accounting.