Question

Research the field of accounting and you may find that there is much more to the field than maintaining records. Imagine that you are a student who will soon graduate from a bachelor of accounting program. You are preparing for a job search and would like to find out: The skills you will need to be successful in the field What the future of the industry will be like and which advancement opportunities will be available Search the web for at least 4 sources and write a 2-3 page paper summarizing your findings. Your paper should include and explain at least 5 career skills that are needed in an accountant position. Please explain 3 future trends in detail that are expected to impact the industry.

Answer 1

Here are the top 6 skills that will help you to stand out as an egg-cellent accountant. We’ve included some tips to help you start developing these skills while you’re still in school, but don’t be afraid to look for other opportunities as well!

1. Organization

Accountants are important people. They manage a lot of responsibility, which means that they generally stay pretty busy.

To be a good accountant you need to have a system to keep track of those responsibilities – such as any portfolios you manage, the transactions you handle, and any important dates and deadlines you need to meet – to ensure that you fulfill all of your duties to the best of your ability.

You can make use of tools like calendars, alphabetized folders, day planners, colour-coded post-it notes and highlighters, and apps and programs designed to help you stay highly organized and in the short- and long-term.

Being well-organized is a great way to demonstrate to your coworkers and manager that you are reliable, competent and able to get the job done. Start honing your organizational skills now and by the time you begin applying for jobs, you’ll be able to discuss your organizational skills with confidence.

2. Time management

Good time-management skills go hand-in-hand in with strong organizational capabilities.

A system for managing your workload is only effective if you also know how to budget your time. As an accountant, you’ll need to manage competing priorities and juggle myriad tasks – while completing everything on time.

The ability to work within deadlines and to continually re-prioritize your to-do list will take you far. Not only will it impress your boss, co-workers and clients, it will also help you to maintain a healthy work/life balance and keep your day-to-day productive.

Tip: Give yourself blocks of time to complete certain tasks. Got an exam coming up? Allocate four or five 2-3 hour windows to get your studying done, and make a list of what you want to accomplish during each study session.

3. Adaptability

The accounting industry is highly dynamic, so accountants who are able to adapt quickly and easily are at a distinct advantage.

In addition to being able to provide better services to their clients, adaptable individuals are more likely to learn and grow in their careers because they see each new challenge as an opportunity to learn and test their skills.

Embrace change – learn to make the most of every curveball that your work throws your way.

On a related note, it’s also great to be proactive. Although it takes a bit of extra effort to be informed about changes as they happen, it definitely pays off: it will keep you on the cutting edge of the industry, earn you the respect of your peers and ensure that others look to you when planning ahead.

Tip: Next time something unexpected happens, look for the opportunity in the situation. If you have to work with a difficult classmate at school, for example, focus on your his or her strengths and use the situation.

4. Communication

No matter where you work, what your job entails or who you work with, strong communication skills are incredibly valuable. Being able to communicate well in writing and in person will help you to get a job, work as a team with your colleagues, interact with clients and, with time, advance professionally.

Well-developed interpersonal skills will also be useful for networking. Whether you have to attend a corporate function or are simply welcoming a new coworker to the office, the ability to assert yourself when meeting new people in order to establish profitable relationships will serve you well. Never underestimate the importance of making a good first impression.

Tip: To start with, work on your smile, your handshake and your posture. Then move onto practicing communicating clearly and tactfully with family and friends, and memorize a short list of questions to ask people about themselves when you first meet them.

5. Openness

Honesty and integrity are highly valued in the accounting world.

Accountants – and the firms they work for – pride themselves on adhering to the strictest ethical standards. It’s why the public, other businesses and the government know that they can trust accountants to always look out for their best interests.

Being transparent when making decisions and giving advice has the added benefit of improving your working relationships. It will make teamwork easier and will help you to foster an environment that is respectful and collaborative.

Many accountants work on larger teams, so the importance of being trusted can’t be overstated. Get into the habit of thinking about the consequences of your actions each time you have to make a big decision.

Tip: Ask yourself the following questions: What are my reasons for coming to this decision? Who will benefit from this? Who stands to lose? What is the short- and long-term impact of this choice? Be honest with yourself about your motives for making particular choices and see what you learn.

6. Leadership

Being a good leader means knowing how to mentor and teach, and making yourself approachable and available to the people you’re responsible for. You have to balance being a role model and the person in charge while still being part of the team. It also takes confidence, patience, and the ability to delegate – traits which don’t come easily to most people.

In accounting, leadership skills also include strategic thinking and long-term planning. Many accountants provide consulting services, which means that they offer advice and business solutions to help companies improve their operations, so the ability to look ahead is key.

The top players in accounting are generally known for being visionary – for making logical decisions that also involve a bit of creativity. To be a successful accountant, you need to be able to show your clients that you’re working to improve their present and future.

1. General business knowledge

The roles of accounting and finance professionals are expanding. Given the frequent interaction with other departments, today's accounting professionals need sound decision-making, negotiation and strategic-thinking skills. It's also important to be able to see the big picture and understand how your accounting role impacts the overall organization.

2. Information technology expertise

Accounting and technology job skills can go hand in hand. The use of a number of finance-specific software programs, such as Hyperion and QuickBooks, is a given in your role. And cloud computing is becoming increasingly popular at many organizations and accounting firms.

Some other examples of in-demand accounting technology skills are:

• Advanced Excel ability
• ERP experience (e.g., SAP, Oracle)
• Expertise in data analytics, advanced modeling techniques and SQL
• Knowledge of business intelligence software (e.g., IBM Cognos)
• Microsoft Visual Basic capability

3. Communication skills

As an accountant, chances are good that you collaborate across departments and communicate with a wide array of colleagues or clients on a daily basis. The people you speak with may not be as savvy with the numbers as you are, so you need to be able to present information in an easy-to-digest manner.

On a daily basis, you could be communicating with others via email, phone conversations, in-person meetings or presentations you give. Relaying information clearly and concisely in these instances goes a long way toward supporting your credibility.

4. Leadership abilities

Accounting professionals need to be ambitious self-starters who can develop new insights and motivate and engage team members, all the while building their leadership skills. While the partners at your firm or leaders in your department are managing the business side of the organization, you may need to serve as a source of aid when colleagues need help navigating a particular program or managing their first busy-season audit.

Additionally, your managers may look to you for fresh ideas regarding how the organization can ensure continuity of service to clients, improve compliance procedures or address a host of other issues.

5. Customer service orientation

If you work in a public accounting firm, it's essential for you to be able to retain current customers and bring in new clients. If you work in corporate accounting jobs, you must meet the needs of the organization's other departments and managers. Either way, solid customer service skills are critical.

Accounting professionals can demonstrate good customer service by truly listening to the needs and concerns of your clients, whether they're internal or external. A positive attitude can also go a long way, especially when stress levels are high. And be careful not to overpromise when it comes to deadlines or deliverables.

The need for these five job skills underscores the fact that accounting roles are expanding. As you take on more responsibilities, freshen and utilize your soft skills to remain a valuable member of the accounting team.

Put your accounting skills to work

Temporary finance and accounting professionals are in demand in cities across the United States. Check out temporary job openings in your area, and see what employers are looking for in these cities: