You have to think about how to receive the best bookkeeping skills that match the professional requirements and are in demand in the labor market. Students need to shape the professional skills of the future to build a successful career.
On the other hand, in order to receive future skills, it is necessary for the universities, business, media, and opinion leaders to work together effectively, providing the best material and content for students. It is necessary to visit different meet-ups and listen to speakers who advise students on how to develop communicational skills, creativity, innovativeness, and critical thinking.
These skills will become a significant competitive advantage for the students when mastering the profession of the future. So if you are officially moving into becoming an accountant, let’s review in detail what other skills you have to complement for a successful career.
1. Ability to Reduce the Company Tax
The results of a survey of directors and HR managers showed that knowledge and ability to put into practice various methods of legal tax optimization is the most demanded skill of an accountant/bookkeeper today. These skills are even excelled such professional quality as real work experience. Almost every employer (89%) not only wants but is also diligently looking for specialists at this level.
Modern accountants are required not only to know the methods but also have the ability to forecast all risks and possible negative consequences for both the company and the director. At the same time, only 40% of accountants have practical experience in tax cuts, planning, and optimization.
2. Keeping Your Bookkeeping Up-to-date
Doing computerized bookkeeping is really important even if that was in common use the long time before. You have to be up-to-date with innovations. Let’s face it, AI is going to profoundly affect the technical side of bookkeeping, audit activities in accountancy. Smaller firms will accelerate their move towards financial consultancy activities to survive. Here, such skills will become even more fundamental.
Now, some banks use AI-powered technologies to turn financial documents into digital data to improve accountants’ and bookkeepers’ productivity. And Machine Learning and Automation liberate bookkeepers to bring their true skills to the front of the relationship in setting the foundation for successful businesses.
3. Innovative Thinking with Advanced Training
Most employers need accountants-practitioners who are able to quickly adapt to dynamically changing market conditions and innovations. The cost of the candidate increases if they previously worked in the field of external or internal audit. But this factor is seen as an advantage, not a necessity.
Today employers have slightly changed the tactics of selecting candidates for financial positions. Many of them can turn a blind eye to the lack of professional experience of an accountant if they have a spark in his eyes and a desire to participate in the extra training and learn Microsoft Office skills. The advantage is also given to the specialists who have diplomas, certificates, confirming the relevance of knowledge in the areas of accounting, tax and management accounting, financial, etc.
4. The Ability to Take Key Responsibilities
You will learn the basics and get marks for written tasks which you could do with the help of others. If you’re struggling with your deadlines, just enter write my research paper for me phrase in google and you will see a lot of websites that can help you. But it’s also great if you develop the ability to analyze and evaluate the financial and economic activities of the company, take key responsibilities, calculate financial indicators, predict business development, engage in budgeting and pricing.
It’s no secret that today such functions are safely transferred to the shoulders of chief accountants.
5. Mastering Office Skills
One of the important tips for youth is to try to master the widest possible set of skills that are not evaluated by the curriculum, but which are fundamental for each profession. According to the experts in the financial field, among the important skills that will be necessary for 2020 are:
- Tech thinking and the ability to understand large amounts of data;
- Knowledge of new media, trends and bookkeeping tools;
- The ability to communicate your opinion, as well as critically evaluate and use data;
- Cross-disciplinary knowledge (ability to understand various disciplines);
- Virtual collaboration (ability to work productively in a virtual team).
Final Thoughts: Are Your Career Skills Up-to-scratch?
Besides accounting skills, it is also crucial to know how to work in a team, listen to and understand a speaker, negotiate with clients or partners, practice persuasion skills, acquiring enough confidence to show presentations, support discussions and solve problems. It is also important to be up-to-date and get new knowledge that will open up bookkeeping career opportunities.
If you get to an excellent learning environment with great opportunities, you will easily get the basics. You will be able to practice your bookkeeping skills, solve financial tasks, using MS Word & Excel, show your speaking/writing, researching, and planning skills.