5 Skills that an Accounting Student Must Have..!!

5 Essentials Business skills needed in Accounting

Now a days, The role of Accounting and finance professionals have been changed from what it was a few years ago. Employers are looking for skills beyond standard accounting competency. Even junior level employees are expected to do more consulting and assist in strategic thinking.

It’s true that management accountants need to know- how to balance a budget, to complete a month end report and many other financial skills of managing a business.

Few of the top skills needed these days besides the basics are as follows—

1)    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 co-worker 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.

2)    Organization: Accounting people have a lot of work to do, so they have to be organized enough to make best possible utilization of their time. Managing the workload is not easy when piles of papers have accumulated on your desk for the past few months. Organized persons always have an edge over others because they know where to find and what they’re looking for, whether it be paper or digital. So, digital filing system has to be organized in a clear and consistent manner. Also, the files must be properly backed up so that the important documents are available to your colleagues in your absence.

3)    Leadership: Leadership skills are very important for the accounting people. A leader emerges when the group is presented with a challenge and one person demonstrates the commitment and competence to make sure the team delivers. To be an effective accountant, you have to help guide people and sometimes that includes making difficult recommendations. It could even mean making tough decisions. Specially, the smaller companies need that type of assistance.

4)    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.

      5)  Use of Technology: An accountant must have the complete knowledge of latest technology and systems on which he has to work with. Also, he has to be updated enough with the upcoming latest technologies. In the age of digitalization, Online Systems and video conferencing, we need to be one step ahead of the cyber fraudsters. This means you’re continuously scanning the landscape for improved processes and accounting software and leading its implementation.