The accountant is a profession that has been around for centuries. With the evolution of technology, it's essential to keep up with the trends and skills required for accountants in future years. The accountant is responsible for managing budgets, processing transactions, and ensuring that all of the numbers are accurate.
An accountant’s future is bright, as long as they have the skills to keep up with the demands. The accountant's job has always been to manage money and assets for a business or individual, but accountants will face many new challenges in their future careers. For example, the future of Accountants is expected to be more tech-savvy and comfortable using more digital platforms to service clients.
One of the most critical aspects of deciding the future of an Accountant is the skillset. With the required skill set, you can build your career path, and the benefits of an accounting career are many. In this blog, you will read the skills needed for an Accountant in the future. Whether you are a beginner or someone with experience, these skills are vital for an Accounting career.
Accounting Resume Skills for Accounting Career Growth
As you have read, the accountant of tomorrow is not an accountant with a firm grasp of budgeting skills and accounting skills alone, but more. So read below to know about other skills that are relevant for your Accounting resume and career growth.
1. Problem Solving Skills
Accounting problem-solving skills are a vital requirement for many accounting positions. However, the problem-solving process in accounting is different from problem-solving in other professions because the solutions may be unique to financial and tax problems.
An accountant needs problem-solving skills to perform the basic tasks, such as adding and subtracting numbers, and more sophisticated problem-solving techniques that involve identifying patterns in data or using their knowledge of accounting principles to make decisions about tax deductions. Therefore, problem-solving skills are one mandatory skillset required in the resume of an Accountant.
2. Active Learning Skills
Active learning skills for an accountant is essential. Accountants need to learn and grow to provide the best service possible. Active learners develop higher levels of critical thinking and analytical skills than passive learners. These skills will be necessary when it comes time to find a new job or even perform your current one more effectively.
Active learners tend to be more successful in their profession because they can better comprehend complex concepts. So, the second skill set you must attain is functional learning skills.
Also Read: How Much Does It Cost To Hire An Accountant?
3. Detail-oriented Skills
Detail-oriented skills are a must for accountants. The detail-oriented person is focused and observant, which helps them to be detail-aware. The detail-oriented accountant will have the advantage in any industry because they will notice opportunities and challenges before they become problematic. These skills also help accountants save time by paying attention to detail when doing work to be completed quickly and accurately.
4. Organization Skills
Organizing skills are crucial for accountants. They do not just need to know their accounting software but also be knowledgeable in Excel and PowerPoint. These skills allow them to organize all the data they collect into tables, graphs, and charts that make it easier for people to understand how well a company is doing financially. Being organized can make an accountant's life easier and more productive. It will also help them to provide the best possible service for their clients by making it easy to locate files quickly when needed. So, having organization skills will not only let your resume stand out but make your career life easy.
Also Read: How Much Do Entry Level Accountants Make?
5. Time Management Skills
Time management skills are more critical for accountants than ever before. For many people, time is money. Accountants have a lot of responsibilities and tasks to complete each day. It can be challenging to stay on top of everything while still getting everyone’s work done on time.
To get the most out of your time as an accountant, you need time management skills that will allow you to manage your time effectively without sacrificing quality or quantity. Accountants are often time-crunched with deadlines and tight budgets; time management skills can help them stay organized, be productive, and meet their goals on time.
6. Spreadsheet Proficiency
Spreadsheet proficiency is an essential skill for any accountant. Spreadsheets are widely used in accounting and finance, so it's no wonder that many accountants consider spreadsheets to be the most powerful tool they use daily. Spreadsheets can:
- Automate complex calculations
- Analyze data with statistical techniques
- Generate charts and graphs of financial data
- Simplify tasks like creating invoices
- Create an estimate by automatically calculating unit prices and discounts
- Create budgets based on future projections of income
Spreadsheets help accountants create financial models, make calculations, analyze data and present it in various formats like charts or graphs. Therefore, spreadsheet proficiency skills are essential because they allow accountants to work more efficiently while using less time on manual tasks such as inputting formulas or carrying out mathematical operations.
7. Business Skills
The most important thing you need to be a good accountant is business skills. Without them, you will never do your job well enough and grow your career with the company that hired you. Business skills are essential for accountants because accountants work with business owners. In addition, an accountant must be proficient with business-related concepts like finance, economics, business math etc. These are the basis for understanding how companies make decisions about their operations and investments.
8. Interpersonal Skills
The profession requires interpersonal skills because accountants often work closely with clients on their projects from start to finish- this means that they must develop strong relationships with them while also being able to communicate effectively when necessary.
An accountant is an individual who advises on the management of financial and other business operations. It is not just about numbers but also about people skills. Interpersonal skills are crucial for accountants because they deal with many different stakeholders in their day-to-day job.
Also Read: Best Software For Making Tax Digital
9. Proficiency with Microsoft Office Suite
As an accountant, you must be proficient with the Microsoft Office Suite. This proficiency will help make your work more efficient and accurate. It will also give you a competitive advantage in the marketplace because many of your clients may not be familiar with the suite themselves.
The accountant is responsible for preparing financial statements, tax returns and other documents. It is crucial to know the Microsoft Office Suite to complete these tasks. In addition, the accountant needs to create spreadsheets, organize data in tables, and create graphs and charts. They need to use these programs, not just for their work to assist clients or colleagues. Proficiency with Microsoft Office Suite is essential for all accountants because it allows them to be efficient in their work environment while helping ensure that deadlines are met without sacrificing quality.
10. Critical thinking Skills
Critical thinking skills are imperative for accountants. The accountant's responsibility is to analyze and measure all aspects of a company's financial transactions, and critical thinking skills allow them to do so more effectively. As Accountants, it is essential to think critically to solve problems, make decisions, and produce quality work.
This skill set allows the accountant to read between the lines, analyze data, and ask critical questions to help them find solutions for their client's needs. Without necessary thinking skills, accountants will be unable to evaluate the accuracy of the information and make decisions within the best interest of clients.
11. Budgeting Skills
When you are an accountant, budgeting skills can be precious. This is because it is essential to know the difference between a budget and a forecast to plan for future expenses accurately. The accountant is one of the most influential components of any business. They are responsible for maintaining financial records, ensuring that all payments and receipts are accounted for, and managing cash flow. Therefore, an accountant has to be knowledgeable in budgeting skills to successfully manage their client's finances.
Accounting is one of the most critical jobs in any company. At the same time, accountants are responsible for ensuring that all the numbers make sense and work together to produce a profitable outcome. To start building your accounting career, building your skillset is the first milestone.
Mohamed Shafi is a subject matter expert in Finance & Accounting with 7 years of teaching experience in Financial accounting fundamentals and software. Apart from training experience, he has industry experience of two years as a senior accountant at GCC countries. He is well versed in Tally, Sage 50, Zoho Books and SAP FICO.His passion for teaching and training engages him to attend conferences and in exploring new areas of learning.He is now an accounting trainer at Edoxi Training Institute, Dubai.