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The pace of change in the business world means that more than ever, accountants need to master the challenges of lifelong learning and development.
How to master lifelong learning and development
06 May 2025
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9 minute read
There are many reasons why this is important. Here are just three.
First, your career and remuneration prospects may be at risk if you are not keeping up with major changes such as those thrown up by artificial intelligence. Unless you commit to ongoing learning you may be left behind and become unemployable. Second, being a continuous learner is likely to lead to a sense of accomplishment and purpose in the workplace and in your private life. In other words, you should be happier. And third, research shows that people who engage in lifelong learning may derive significant mental health benefits and reduce the risk of dementia.
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So, how can you master life-long learning and developments? Here are some tips:
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Have a learning mindset – this is the most important step. If you don’t have a mindset, that is an attitude, about the benefits of lifelong learning, you won’t make much progress. Start with keeping heathy, both physically and mentally. This should give you the energy and creativity to engage in learning. Next, foster your curiosity. Make a habit of seeking out new information and ideas that are of interest to you. And engage in regular self-refection. That is, commit to spending just a few minutes each day assessing your learning journey. Ask yourself what you enjoyed learning and how it has or will benefit you.
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Make a plan – so that not all of your learning is left to chance. Identify topics and fields of knowledge that you wish to learn about , then write down some goals, action points and a timeline. The things you wish to learn about may be related to your work as an accountant, or other topics which intrigue you. Learning can be done in many ways including by self-study or by formal class instruction in either online or real-world settings. Divide big goals into manageable steps and reflect regularly on your progress. If you need someone to nudge you occasionally and hold you accountable, then recruit a friend or a mentor to help you on your journey.
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Learn with others – for many people, learning with others can be both fun and inspiring. Having to turn up and participate in some type of learning activity with other people is also a great form of accountability. Traditionally, it has been common in workplace settings for learning and training to be done on a group basis. Many accounting practices adopt the routine of a weekly or monthly training session which everyone is expected to attend. However, increasingly, organisations are resorting to online e-training modules which staff undertake individually at their own pace. Many of these modules are deeply uninspiring and evidence suggests that the retention and use of the learned subject matter is often not clear. In addition, when learning new things which are complex or have any level of ambiguity or a need to apply judgment, most people benefit from being able to discuss the relevant issues and concepts with others as part of their learning journey.
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Teach others – one of the best ways to learn new things is to make a commitment to teach others. Say there is a new development in the accounting world which people in your organisation need to know about. If you volunteer to lead the training session you will have a strong motivation to learn as much as you can about the subject matter to make sure your session is received well. And if you do a good job, this will enhance your reputation in your organisation.
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Seek feedback – as the saying goes, feedback is the breakfast of champions. How do you know if you have actually learnt enough, or the right things about some new subject? Well, if learning has occurred in some formal setting, perhaps you have been required to submit assessments or take examinations as part of the process. In such situations, you will be provided with some clear feedback. If you are learning on your own, you will need to find some other ways to get feedback. Perhaps you could join a work-focused discussion group, a book club, or some other group activity so that you will have the opportunity to share and swap ideas and thoughts with other people.
The need for life-long learning and development is not going away anytime soon: either in your working or private life. There are many benefits to being or becoming a life-long learner. The most important step in mastering life-long learning is to adopt a learning mindset. Once you have the attitude and motivation to keep learning, you should be able to do the requisite planning and find other people who share your passion so that you can learn together.
Tony Frost, author of The Professional: A Playbook to Unleash Your Potential and Futureproof Your Success is a highly sought-after speaker, executive coach, trainer and author who helps individuals and teams thrive in the age of complexity and artificial intelligence. For more information visit www.frostleadership.com.au.
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