Being an accountant isn’t an easy profession. Building a successful career in the accounting industry requires hard work and a certain set of base-line skills, including mathematics and attention to detail. Further, more intricate skills can only be learned and strengthened through years of experience handling different types of accounting, and being mentored by those who’ve been in the industry for some time.
Here are some key things you can learn from joining an accounting firm:
- Time Management
One of the most important skills you can learn from joining an accounting firm is good time management. At an experienced chartered accounting firm that deals with individual and business accounts, like Page Kirk LLP, you’re likely to be given different clients and tasks to manage while working to very strict deadlines. Thus, you’ll be able to learn how to manage all your tasks and priorities amidst the pressure, and in practicing how to utilise your time efficiently, you’ll quickly consolidate your time management abilities. You also need to be able to strike a balance between professional and personal life, outside of work hours.
- Communication Skills
One of the most important things to learn when it comes to accounting is communication skills. As an accountant, you’ll be dealing with many different people including owners of large clients, sole traders, and individuals. Therefore, you must be able to communicate efficiently and effectively with a variety of stakeholders. This is a skill which will naturally improve over time working in an accounting firm.
You will be able to learn from your bosses there on how they communicate with clients. As an accountant, you also need to deal with investors and give a detailed brief on the financial condition of a company. At the same time, you also need to write reports with accurate details and explanation.
- Thinking Differently
As your career progresses in an accounting firm, you’ll learn to think differently and get a better grasp of handling all sort of companies with varying accounting needs. At the same time, you’ll be able to view larger businesses in another perspective—one that’s more nuanced because of the way things are run in an accounting firm as compared to running a solo practice. This is one of the things that college won’t be able to teach you. You’ll soon learn how to think like an entrepreneur, which means learning about different business models, and integrating this knowledge into your accounting.
Being an accountant, you’re also in business with the company you’re auditing or preparing financial statements for. Through this process of working with external stakeholders, you’ll gain an agile mindset that goes beyond basics of licensure, and that is, how to think critically and be innovative when problems arise.
- Structure And Proper Documentation
Organisation and detail are critical skills you’ll develop and bring with you throughout your career as an accountant. In an accounting firm, as requirements are very strict, you’ll learn how to efficiently organise, structure, and detail important documentation to suit your company and client needs—skills that you’ll carry throughout your career.
Additionally, as an accountant in a firm, you must record and keep track of all your transactions and portfolios. Properly collating detailed records is another skill you’ll strengthen as you progress in your career.
- Knowledge Of Taxation
The laws which govern taxation are ever-changing. By joining an accounting firm, you’ll learn about the complexities of taxation and the tax laws in your country of origin. Many of these specifics aren’t taught in a school or university setting—they’re things that must be learned on the job. Moreover, an accounting firm is a great place to keep up with any taxation law changes and further your knowledge over time.
- Analytical Skills
Analytical skills are some of the most important skills you’ll gain from joining an accounting firm. In an accounting firm, you will encounter many different clients that’ll give you different scenarios and problems to solve. Working in this field will lead you to develop elite problem-solving abilities, and see you break down complex issues and make good decisions based on the information presented. This experience will help you build your reputation in the industry.
In joining an accounting firm, you’ll gain valuable skills and experience that will serve you throughout your career. Along with improving your mathematical abilities, you can learn many important things, from how to communicate effectively to specialised time management and analytical skills—all of which will help you become an outstanding accountant.