It doesn’t matter how advanced the industry becomes or how the landscape of the market changes, there are some professions that will never lose its value in the market. And one such profession is accounting.
It doesn’t matter whether you are running a business in the FMCG industry or a real estate industry, you will never be able to survive in the market without the services of an accountant. From maintaining the books to taking part in major decisions, accountants of the modern era play many different roles in an organization.
So, if you have decided to become an accountant or currently working an accountant then it becomes necessary to know which type of skills you need in order to become an ideal accountant. But do you really know which types of skills the modern accountants need in order to fulfill the demand of the different industries without any hitches?
Gone are those days when knowing only about the basic bookkeeping skill was enough to become a good accountant. The current market for accountants has evolved a lot and now accountant needs to be smart, tech-savvy and diverse in order to fulfill the growing accounting needs of a company. This is why, in this blog post, we will look at the top 8 skills that you will need to master as an accountant.
Accounting has been acting as an inseparable part of accounting from the day one. No project in a business can be started without involving an accountant in it. If tight controls and solid methods will not be applied to the numbers of a project then it will lead to disaster. This is one of the main reasons why innovation becomes a necessary skill to master for accountants. If an accountant will be innovative then he will be able to match with the pace of always evolving business and market landscape. In most of the cases, the recruiters look for accountants with fresh ideas.
In addition to being innovative, accountants also need to be adaptable as well. You should know that accountant industry is changing rapidly and this is why the role of accountant is turning more towards the advisory side as technology is automating most of the repeated process of accounting. In the current era, clients have new expectations from accountants and the need of every industry regarding accounting is becoming more diverse. So if you are planning to become an accountant then you will need to adaptable to the constant changes and act accordingly.
Information technology expertise
The modern day accountants need to be expert in general IT and accounting software, especially when the organization that you are going to work for has the know-how of these IT terms. You should know that cloud accounting is one of the latest technologies that is being used in the market. If you are used to working on desktop installed software then that won’t be enough. You will need to get used to cloud accounting solution because now most of the businesses are using cloud accounting solution. Even if your client is using the traditional method, you will need to step in and explain the benefits of cloud.
It is quite surprising that there are many accountants who forget about this skill or don’t give much value to it. There is no denial in the fact that there are some skills that offshoot of common sense, but commercial awareness is crucial skill to master for each and every type of accountant. Commercial awareness is basically the understanding of where and how your business fits in the market, how the economy is affecting the business, social and political factors that will affect it and much more. All these things come under social awareness.
Initiative is one of those key skills of accounting that is closely associated with similar types of skills like enthusiasm and understanding. Being initiative in the accounting industry means that you can work on your own and you are an independent thinker. If you will be imitative then your client with trust you with more and better tasks and in turn, this will open better opportunities of growth for you. If you are planning to become freelancing accounting in the future then being initiative will become paramount for you.
If you are looking at your future and imagining yourself working in a very big organization then you need to start working your collaboration skill. You should know that giant businesses have so much finance related task that a single accountant is never able to fulfill the needs. This is why there is a group of accountant that works in giant firm. Well, in order to work in a team as an accountant, you will need to master the art of collaboration. Whether it will be about taking care of the financial aspect of a decision or regular bookkeeping, you will have to work as a team. This is why you will need to know how to work in team and maximize your productivity.
If you will be willing to put in hard graft as an accountant then your efforts will surely be appraised in an organization. Just like any career, you will begin your journey with the lowest level and going to work all the way up to the top but this path is not going to be easy. The art of working on tight deadlines, juggle different client’s need and stay calm and positive throughout these challenges is surely something that will never come as a surprise. You will have to work towards resilience in order to become an ideal accountant otherwise you will be left behind in the race of competition.
Becoming a good accountant is surely not an easy task but if you will be able to become a good accountant then you will surely have an upper hand in the industry. You will need to work on all the skills mentioned in this blog post in order to become an ideal accountant whose role will not be confined to bookkeeping only.