Every year thousands of people graduate with accounting degrees. However, only a few enjoy a successful career in accountancy. Have you ever wondered what makes a good accountant? It is not just about recording transactions or creating financial statements, as a college student can easily do either of these things. So if crunching numbers isn’t the key to success, what is? Let’s discuss the qualities that make a highly skilled accountant stand among others. Fortunately, you can also develop these qualities when you step into your professional life.
Variety of Skills
It is essential to understand that accounting is not just about managing money and recording transactions. An accountant has to wear many hats and keep an eye on several things in a business for better and more responsive accounts. Therefore, it requires a multi-talented individual to enjoy a career in this field. With the evolution in technology and business around the globe, finance and accountancy have also been quite progressive towards developing the techniques and tools of the trade. According to NUVEST, it is crucial to keep learning and upskill to stay on the same page with the rest of the financial world. Obtaining qualifications like CPA can significantly improve career prospects. If you plan on furthering your expertise, you can look up CPA requirements online.
Let’s dig into the topic and see what skills are necessary:
Tech-savvy: Accounting revolves around calculators, high-end software, and new techniques to make the process easier. It is not just about math but using the latest and most efficient methods to develop relevant reports. A good accountant must be a quick learner to get used to new tools in the industry.
Accountability: A good Corporate Tax Accountant in Toronto realizes the importance of responsibility and is always open for feedback, and is ready to learn from mistakes and avoid them in the future. Accounting is fundamental to the success of a business, and significant errors or negligence can lead to disastrous consequences. Therefore, accountants usually have to double-check and verify every bit of transactional activity concerning the company.
Relevant Industrial Knowledge: A competent accountant must be aware of their company’s domain’s shifting trends and methods. Accountants who have experience working in specific industries such as automotive or healthcare are always in demand as they are likely to possess critical thinking and strategic insight in the industry that can significantly reduce costs and boost profit.
Teamwork: For a growing career in accounts, one needs to be a team player, as finance departments work together to analyze, record, and make decisions based on data to increase profits and promote efficient operations. So, a good accountant must learn to be an active part of the team and play the role of a dynamic and supportive team member.
Communication skills: It’s crucial to convey your conclusions through thought and reason. A confident individual that is responsible and can back their claims with facts and figures can proliferate within this field.
It is important to understand that apart from crunching numbers and analyzing transactions, accounting also significantly influences the decisions and outcomes of the company. Excellent communication leads to efficient interactions and effective decision-making.
Creativity: Although accounting might not come across as a field that would let you bring out your creative side, there is still much room for creative problem-solving. Your creative instincts will allow you to handle any situation much better than anyone else.
Pro-active approach: Being a keen observer, you must learn new ways to avoid mishaps, as a small error or omission in accounts can cause a cascade. If you follow a proactive approach to prevent such situations, you may stop a financial disaster even before it happens.
Time management: If you are good at budgeting and finances but take too much time to develop the results, you might need to work on your time management skills. Accounting is all about timely service and decisions. In addition, accounting requires information to be gained and presented while it is still relevant, which in today’s business world doesn’t leave you with a lot of time to mess around.
Conclusion
It is a common misconception that accountants are boring number crunchers who have to deal with extensive working hours and monotonous tasks. The new world denies this theory, and a good accountant works closely with various departments and maintains a professional and productive relationship to improve performance. Accounting is one of the professions that require demanding education and ultimate focus. However, it is important to understand that a degree in accountancy is not enough if you are not on the right track. Working with accounts can be a little dry. Still, suppose you are ready to mix things up and work under dynamic and challenging conditions. In that case, you should manage entire departments and understand the impact accountants have in no time. Being an accountant is a huge responsibility and a very rewarding career in the long run. This article should give you a basic idea of what life will be like as an accountant.
