accounting experts debate stem designation and its implications for the accounting field.
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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
as accounting evolves into a technology-driven profession, a question looms: does accounting qualify as a stem (science, technology, engineering, and math) field? on the latest episode of accounting arc, thought leaders hosts liz mason, cpa; byron patrick, cpa.citp, cgma; and donny shimamoto, cpa.citp, cgma, tackle this provocative question.
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“stem is about applying rules-based knowledge in real-world scenarios,” explains mason, ceo of high rock accounting. “accounting fits because we apply principles and make ethical decisions just like other stem professions.”
but not everyone agrees with mason.
shimamoto, founder and managing director of intraprisetechknowlogies llc and founder and inspiration architect for the center for accounting transformation, takes a more cautious stance. “stem traditionally involves innovation at a foundational level, like creating new technology or scientific principles. most accountants are implementers, not innovators.”
patrick, ceo of verifyiq and vice president of client success at the b3 method institute®, highlights a practical dimension: “this debate isn’t just academic. federal funding for stem could help address the talent pipeline crisis in accounting.”
much of the discussion revolves around technology. mason argues that accountants increasingly act as “business engineers,” leveraging technology to automate and innovate. but shimamoto cautions, “using technology doesn’t automatically make a profession stem. otherwise, everyone from cashiers to marketers would qualify.”
patrick, meanwhile, notes how initiatives like cpa evolution push accounting closer to stem disciplines by emphasizing technology and analytics. “we’re moving toward a profession anchored in stem knowledge,” he says.
mason agrees, envisioning a future where accountants design automation and analyze complex data. “we need to integrate more stem into education to stay competitive globally.”
shimamoto urges a more balanced view. “focusing on stem shouldn’t overshadow the importance of vocational education and apprenticeship pathways,” he says. “accounting has always been learned through practice as much as theory.”
top 6 takeaways
- technology plays a pivotal role in modern accounting but doesn’t alone qualify the profession as stem.
- federal funding tied to stem designations could address talent shortages in accounting.
- stem’s historical focus was on innovation and global competitiveness.
- accounting’s evolution includes a greater emphasis on technology and analytics.
- integration of stem content into accounting education is growing but not yet widespread. for example, automation and ai are reshaping the profession’s future.
- the debate reflects larger questions about how professions define themselves.