If you want to build your career as an accountant, then there are certain technical accounting skills that you need to excel. Apart from perfecting these technical accounting skills, you will also need to stay on top of deadlines, keep up with the changing regulations, as well as manage clients. In the modern world of today, accountants need to think and go beyond number crunching and become strategic business advisors. Keep on reading to learn about the crucial technical skills for accountants that can help you build a successful career.
Top Technical Accounting Skills
Expertise in Accounting Software
In the tech savvy business world of today, it is crucial to know all the ins and outs of accounting and office software such as Excel, QuickBooks, and Google Workspace. This is one technical accounting skill that you need to master as technology keeps bringing new changes in the field of accounting.
Being Deft at Preparing and Reporting Financial Statements
This is amongst the most crucial technical accounting skills as financial statements are the bread and butter of accounting firms and business operations. You need to have in-depth knowledge on how to report and prepare financial statements if you want to be successful at your job as it will include tracking and reporting on balance sheets, creating income as well as cash flow statements.
Knowledge of Spreadsheet Software
Excel is one of the most important tools for an accountant even today. This is why, before you pursue a career in accounting, ensure that you understand how to use Excel to organise and manipulate data. In case you don’t have a deft hand at an Excel spreadsheet, take out time and practice. You can even take up an online course before you apply for accounting jobs.
Essential Soft Skills for an Accountant
Apart from technical skills for accountant, you also need to be an expert at certain soft skills. This is important because building strong professional relationships with clients, peers and colleagues is just as important as your ability to perform complex financial analyses. Moreover, these soft skills also give you an edge over other applicants in the accounting job market. These soft skills include:
Communication
Effective communication is very important in almost all business roles and accounting is no different. Apart from being sound with your numbers you are also required to meet clients, stakeholders and fellow employees and you will be required to communicate financial updates.
Time Management and Organization
You need to organise and also manage your time effectively if you want to become an accountant. During the tax season in the early part of the year, the volume of work usually increases and you will be required to juggle a lot of work including handling clients, making spreadsheets and reports. All this requires keeping a track of your time and staying aware of strict deadlines to file taxes and reports.
Critical Thinking
It is true that technical accounting skills will make you successful but this job goes way beyond numbers. You will be required to have strong critical thinking skills so that you can deal with ethical dilemmas. Moreover, you will require to report errors and take care of unbalanced spreadsheets after careful thoughts and investigations so that you can come up with the best solutions.
Problem-Solving
No matter how technologically advanced we become, an accountant needs to predict trends and make financial forecasts through his/her problem solving skills. This is why it remains as one of the most sort-after skills in accountants. You need to remember that employers do not need a robot, they are seeking creative problem solvers who can help with accounting as well as identify innovative solutions to help take their organisation forward.
Conclusion
A career in accounting can be very fulfilling for you, provided you have the right set of technical accounting skills as well as soft skills. Kickstart your journey in the field of accounting and become a CPA with AICPA at Imarticus. This CPA course can propel your career to new heights, and will also provide you access to the exclusive AICPA community.
