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Accountants are a fundamental part of a successful business. Having the financial side of an operation covered by an expert relieves an enormous amount of work for the non-financial workers.
To become an accountant, you can either do a relevant degree or join a graduate scheme. However, outside of professional qualifications and/or degrees, accountants need a vast array of skills - both soft and hard skills.
Hard skills are any industry-specific, knowledge-based skills that come from industry experience within the field or specialised training. Soft skills are less specialised and tangible, but are just as vital. But what are the top hard and soft skills accountants need?
A lot of accounting involves gathering information and data and presenting it to clients or managers in language they will understand. Illustrating points about finances and future prospects requires an essential level of communication.
Deadlines are a big part of accountancy, whether it’s within the business or external to it, such as tax return deadlines. Getting documents organised and finishing work on time is therefore an important soft skill.
Balancing company finances requires a level of problem-solving when working out how to make all the figures work together. This is also essential when solving financial issues to save money in the future.
Finance, tax, accounting, and legal regulations are vast and often complicated. It requires a level of creativity to apply these to the specific client or business and their needs. Furthermore, it helps when problem-solving too!
Managing client or manager needs means listening, identifying their needs, taking feedback, and providing an efficient service - in other words, customer service skills.
Accumulating financial information and drawing conclusions from it is a key part of being an accountant. Analysing this data can help financial professionals to create reports like expenses and budgets.
Despite working within finance, it greatly helps when accountants have general business knowledge. Working across departments is a key part of the job, and understanding the business needs is much easier when they can understand the business itself.
Within the world of accountancy, there can be lots of legal requirements that are essential to know. The last thing a client or business needs is legal and financial trouble! Knowing exactly how to carry out processes within the confines of financial regulations is therefore essential.
Handling payroll processes can sometimes be done by people other than accountants - such as admin staff or can even be outsourced - but they still play a large role. Balancing the figures, monitoring deductions and holidays, communicating with HMRC if needed, and gathering the necessary information from payslips - these are all key accountant responsibilities.
There is a huge range of software associated with accountancy. From payroll tools to calculation assistance, knowing their way around the most common software is massively important knowledge for accountants to have.
Accountants are hugely important parts of ensuring any business can succeed. They are highly skilled workers with a range of abilities and specialisms. Whether those skills are based in specialised knowledge or come from diverse work experience, they are fundamental to becoming a successful accountant.
We hope this blog helps as you prepare for job applications in the finance industry. At Fintech we have a number of accountancy vacancies available. These range from accounts assistant jobs to management accountant positions. If you are interested in finding out more, please visit our website or get in contact with us today!
