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Abstract

The article examines the economic landscape and outlines the challenges facing the accounting profession. The study specifically explores the impact of technological development,lack of talent,and ever-evolving tax regulations. The findings underscore the imperative for practicing accountants and aspiring professionals to cultivate a specific skill set, including adaptability, effective communication and adept time management, to effectively navigate and overcome these challenges.Against the background of a dynamic economy and society, the study illuminates the evolution of accounting and the profession itself, undergoing various transformations over time.While accounting challenges can be difficult, they can also serve as a path of new opportunities,stimulating innovation, efficiency and development in accounting and finance. By tackling these challenges with determination and creativity,the accountants can turn difficulties into advantages and achieve long-term benefits. CZU: 657:004.8; JEL: M41; DOI: https://doi.org/10.53486/issc2024.35