How can I become a good accountant?
Excellent organization. Accountants must keep up with all figures, data, and paperwork in their daily jobs. They need a system for quickly finding information they need. Accountants should be able to organize their work to maximize productivity and allow time for undisturbed research and analysis.
Killer time management skills. Today, accountants are playing an increasingly important role in contributing to strategic decision-making, so their schedules are full to the brim. They need to take care of many tasks beyond financial management and should be able to prioritize them to make the most from their time at work.
Attention to detail. These traits are obviously key in the daily reality of accountants who need to make sure that numbers work and are correct. An eye for details and due diligence for accuracy should be part of their modus operandi, not something they need to be reminded of.
Focus on the client. Being an accountant means not only dealing with numbers, but with clients as well. That’s why accountants should have a strong orientation toward meeting client requirements – they need to understand the industry, sector, and client in detail. Only this helps them to decide which accounting rules or economic measures could fit the business. An accountant’s advice is always of value and knowing their way around a sector is the best way to make it more relevant and actionable.
Creativity. That’s right – great accountants have creative minds as well. They’re the ones who practice out-of-the-box thinking to come up with fresh solutions – some client problems aren’t textbook cases and require special attention and a degree of creativity.
Commitment to the sector. Accountants should commit themselves to a particular industry and be passionate about it. This is what makes them attractive hires – companies are looking for individuals for long-term employment and stop at nothing to motivate such talented accountants to join in. That’s probably because replacing an accountant costs a lot of time and effort, seriously affecting the productivity of employees during the dreadful transition period.
Extreme trustworthiness. The kind of information accountants deal with every day is very confidential in nature. One of the most important features of great accountants is that they’re professional and never impart any knowledge to third parties. This is the ethical way to conduct an accounting business, and having a reputation for trustworthiness can only help in scoring great jobs.
Great communication skills. Needless to say, accountants must be able to communicate and collaborate with colleagues from different departments. They should also be able to communicate key insights to nonfinance staff – accountants can use various data visualizations form to aid their communication effort and ensure that their insights are properly understood. Communication is also key to developing successful relationships with clients.
Collaboration. This is something not many professionals expect. We’ve all cherished the idea of a lonesome accountant busy number-crunching in a small cubicle – but this image is completely inaccurate. In fact, accountants work in teams and provide support to different departments – that’s why they should be able to efficiently impart their expertise to clients and decision-makers. They should feel what others need to know and support the goals of the team, working with different kinds of professionals and personalities.
Flexibility. Accountants who are able to embrace challenges and effectively respond to changes in working environments make up for very valuable members of any organization. In the digital age, offices change at an accelerated pace and accountants must be able to adapt and take advantage of those alterations. A high degree of agility is also necessary for responding to regulatory changes in the industry – only then they can provide quality service.
MUST-READ ACCOUNTING BLOGS
Accountants sure love blogging. What else would you expect from a profession that attracts policy wonks, lovers of minutiae, and – let’s just say it – nerds (of the very best kind!). All over the world, there are accountants using the power of blogging to share their knowledge, expertise, and unique personalities.
FOR THE LOVE OF NUMBERS
Some have a dry sense of humor or a quirky perspective; some have the trusted tones of a much-loved mentor. Others give tough, no-nonsense real talk about financial pitfalls, or tear into controversial subjects without a bit of trepidation. But they all come from writers who love what they do and want to help you keep your finances in the black, out of trouble, and on the up-and-up.
Below, you’ll find what we believe to be 25 of the best accounting blogs. In compiling our list we looked for accounting-related blogs that are active, regularly updated throughout the year with knowledgeable, useful, well-written, and engaging content
THE ACCOUNTING ONION
An illustrious consultant, expert witness, and professor emeritus, Tom Selling maintains a well-informed blog at The Accounting Onion. Selling brings a wealth of knowledge, and a touch of wit, to financial matters both arcane and practical. Providing invaluable insight into current trends and exposing financial reporting inconsistencies, Selling is committed to “peeling away…issues one layer at a time.” Recent posts range from a detailed explanation of a costly tax loophole (“GAAP and the Federal Deficit”) to a moving tribute to a late colleague (“Walter Schuetze, 1932-2017”).
ACCOUNTING WEB
Accounting WEB is a professional organization for the 21st century accountant – an online community committed to being the world’s best source of information, skills, and ideas for the working accountant. With its finger on the pulse of modern accounting, Accounting WEB focuses on the newest technologies and concepts in the field, from software to law and ethics. Recent posts on the Accounting WEB blog include informed opinions on cloud accounting, using educational materials for marketing, and preparing clients for an audit
How to succeed in your first accounting job
The transition from studying accounting to practicing it can be an adventure: Instead of pulling all-nighters and wearing sweats, life shifts to sunrise starts and power suits.
But those challenges, along with those of studying for the CPA Exam and putting in extra-long days during busy season, come with a payoff, of course. Accounting is a rewarding career with plenty of growth opportunities. Accountants enjoy solid pay, ample advancement opportunities, and the chance to serve the broader good, so newbies have plenty of reason to hang in there
Sharpen “soft skills”: It’s easy to focus only on the academics at school and assume that skills guiding personal and professional interaction will take care of themselves. Employers say many fresh graduates who have grown up in the tech era are less prepared for the human element of a new career. As a result, students who can hold a professional conversation, offer a strong handshake, and make eye contact gain an edge in hiring and promotions
Keep learning: The degree doesn’t mean you get to retire the thinking cap. Most firms have a lengthy onboarding program to teach the company’s culture and procedures. “That’s the stuff that isn’t taught at the university level,” Henning said.
Successfully navigate busy season: Young accountants face big challenges in their first busy season. “You will work weekends and you will be exhausted. Sometimes you may feel like there aren’t enough hours in the day for work
HOW TO BECOME AN ACCOUNTANT: ACCOUNTING DEGREES & CAREERS
Becoming an accountant requires advanced education, formal certification and a firm commitment to learning the trade. Along the way, prospective accountants need to answer a number of questions: Do I possess the qualities needed to become an accountant or CPA? Can I start a successful career after four years of college or do I need to earn a master’s degree? Should I work for a large corporation or firm, or would I be better off on my own?
EARN THE RIGHT DEGREE
Although not required, most accountants attend college and earn a bachelor’s degree. However, a bachelor’s degree in accounting or a related field is considered the minimum education requirement for those who plan to become a CPA. Some states even require advanced coursework beyond the normal bachelor’s degree in subjects such as financial reporting, taxes, auditing and other non- accounting business areas. A total of 150 credit hours in accounting and related areas are commonly needed. Students interested in becoming a CPA should check the specific education requirements in their jurisdictions. Many CPAs also continue their post-secondary education and earn a master’s degree.
PICK A SPECIALTY
Virtually all accountants and CPAs specialize in one or more areas of practice. The two general areas of specialization are public accounting and corporate or business accounting. A number of sub-specializations also exist, such as environmental accounting, internal auditing, managerial accounting and taxes. Often, the specialty you select coincides with the accounting degree you earned.
DECIDE BETWEEN ACCOUNTANT AND CPA
There is a difference between an accountant and a Certified Public Accountant. Accountants (also referred to as “public accountants”) are typically individuals hired to work in the accounting departments of businesses, but lack several of the qualifications of a CPA. Accountants, for example, may not possess state certification or licensure. Accountants can perform certain limited tasks, such as the preparation of financial statements. They may also prepare tax returns if they have passed the required IRS test or received a Preparer Tax Identification Number. They may not, however, conduct audits or review financial statements.
PASS CPA EXAM
All states require CPA candidates to pass all four parts of the CPA exam. Those four parts are: Audit and Attestation; Financial Accounting and Reporting; Regulation; and Business Environment and Concepts. The CPA exam is offered during the first two months of every quarter, and typically over the course of several days. Candidates may take the test parts in any order they choose, but once they have passed one part, they must successfully complete the other three parts within 18 months. Given its degree of difficulty and breath of subject matter, most CPA test candidates enroll in private test preparation courses.
Accountant
What’s it like to be an Accountant?
Accountants help individuals and organisations manage their finances, tax credits and obligations, and give advice on compliance and record management. Accountants may choose to specialise and become Management Accountants, Taxation Accountants, Trust Accountants, Systems Accountants, Fund Accountants or Company Accountants.
Tasks and duties
Examine the income and expenditure of the individual or organisation.
Create and maintain budgets.
Prepare financial statements.
Create accounting policies in consultation with senior stakeholders and in alignment with regulatory requirements.
Prepare reports that articulate business compliance with regulatory requirements.
Undertake audits, conduct financial investigations and manage insolvency.
Provide advice about business plans, structures and accounting systems.
Establishing bank accounts, funds and trusts.
Manage cash flow.
Manage investment projects
Accountants may work in the public sector, for large or small organisations, or for individual clients. A Bachelor degree or higher is usually required to become an Accountant. Additional certification may also be needed
Accounting is generally suited to people who are good with numbers and those who are highly organised. Because Accountants have to deal with a wide range of people, it is also important to be able to connect with others and be able to communicate clearly.