Wondering what skills can help you become an accountant?
The role of an accountant requires strong interpersonal skills, analytical skills, time management and the ability for critical thinking. Yes, accountants analyze financial records for clients but are more than mere number crunching. You will have to create financial strategies, comply with tax regulations, save money for the client and boost revenue in the business.
Accounting is a constantly evolving domain and so, you must be updated on the new trends. You become an expert in accounting with continuous learning and practice. Today, there are specializations in accounting courses like ACCA, CMA, Excel Accounting, Financial Accounting, Tally, VAT Training and much more.
Be it any accounting course, you have to develop several skills – soft skills and hard skills to build your expertise. If you are confused about what skills you have to develop, this blog is for you. Check out the most useful skills needed for a career in Accounting.
Must-have skills for Accounting Career
Employers today look for skilled professionals while hiring accountants. Read below the skills that can help you to advance your accounting career.
1. Analytical Skills
Accounting work requires a detail-oriented eye and the details are to be accurate. Financial records are going to be an everyday part of your life. You must develop your skills to execute and interpret financial data. Strong problem-solvers and decision-makers who can identify financial challenges in an organization are in demand.
Apart from that, creating an accounting framework and developing effective solutions are also your job role. Accountants are also supposed to possess logical skills to solve problems. You night have logical skills, but updating and gaining expertise is important.
2. Financial Skills
Handling financial data is the core job of an accountant. From dealing with Profit and Loss, Quantitative Data, Reconciliations to Tax Filing and Tax Reporting are the major roles of an accountant. Your ability to apply financial frameworks in business makes you a financial expert.
Accountants are required to assess the accounting systems, financial information, and asset evaluation. If you wish to hone your skills to become an accountant, financial skills are the first skill set that you must develop. Developing the skills to build the financial framework of an organization and their strategy is also vital to build your career.
3. Time Management
Time management is an essential skill for every professional. It can be applied with the Accounting Professionals too. Accountants must learn to efficiently manage time to organize financial data well. Also, you must remember not to waste your time by spending on the phone or unwanted emails. Manage your office hours and try replying as voicemails more.
Make sure you track your time by using a time management tool. Time management tools like Outlook or Google Calendar can be used as time management tools. Reduce your paperwork and use more accounting tools and technologies. Integrate and implement digital documents into your workflow to eliminate the risk of misplacing important paperwork. Prioritize important works, organize them and chart it for the effective workflow.
4. Spreadsheet Proficiency
If you wish to be an accountant, you must definitely possess the skills to use and maintain a spreadsheet. Spreadsheets are not mere rows and columns to enter data but there are several tools you can use for complex calculations. You can use spreadsheet formulas and tools to manage time by avoiding tedious repetitive calculations.
Custom formatting, VLOOKUP and HLOOKUP, Data Manipulation and Navigation are significant tools that you must be aware of. Apart from basic Excel skills, developing skills to use these formulas and tools will help you create accessible, clear, concise reports.
5. General Business Skills
Accountants play a larger role in organizations today in building a business. key business decisions impact the accounting and finance departments in an organization. Accountants are therefore expected to expand their business knowledge also. In addition to accounting and financial skills, general business knowledge, communication skills and customer service skills are also significant in an Accounting job role.
6. Technical Knowledge
Up-to-date technology expertise can help you in your career growth. Finance-specific software programs can help expand accounting automation.
Advanced Excel expertise, Enterprise resource planning experience and expertise in big data analysis are added technical knowledge for accountants. Also, knowledge of business intelligence software, Microsoft visual basic skills and knowledge of QuickBooks is also an asset to your skillset.
If you wish to advance your skills and technical expertise in accounting, Accounting Courses in Abu Dhabi can help you. Technical knowledge will always help you finish tedious works in less time. Your knowledge on anti-money laundering (AML), know your customer (KYC), Financial Industry Regulatory Authority (FINRA), Comprehensive Capital Analysis and Review (CCAR) and the Dodd-Frank Act will also help build your expertise.
Let’s Sum Up
Accounting job roles require a bunch of skill sets. Apart from conventional mathematical and financial skills, today accounting is more than that. Business knowledge, technical knowledge, communication skills and even leadership skills are prominent. Employers look for expert accountants who can prove their proficiency in various domains. Take your time to build these must-have skills to be a professional accountant.
