« Back

Skills needed by accountants

May 26, 2022 2:35 pm

Category:

If you enjoy working with numbers and have an analytical mind you might be thinking about training to work for a Stroud Accountants such as https://www.randall-payne.co.uk/services/accountancy/stroud-accountants/. Working for an agency like this can see you supporting businesses of all sizes and from all sectors as well as giving you the opportunity to work in different areas in accountancy. After you have qualified you may decide to specialize in one area such as tax or investments or you may want to work in general accounting. There are a number of skills that an accountant needs to be successful and here are just a few of them.

Image credit

Numeracy – working with financial figures day in and day out needs you to have a good level of numeracy. These will include all the basic functions of addition, subtraction, multiplication and division as well as skills in budgeting and being able to analyse and interpret financial data. When looking to start training in accountancy you will have your numeracy levels assessed to see whether your skills and knowledge are at the required level.

Image credit

Business awareness – when you are working with businesses it is important that you understand the different ways that you can establish a business and the different accounting requirements for each of these. In the cases of sole traders for example there will be no need to file corporation tax accounts. If you are going to also work on charity accounts you will need to be aware of the financial needs from a legal perspective for these types of businesses.

Critical thinking – spending your time interpreting financial data will require you to have good levels of critical thinking. This allows you to forecast and project business financial data as well as look for discrepancies and devise solutions to any issues that may arise.

Communication – working in a customer-facing role means you need to have good communication skills. This enables you to be able to communicate with your customers as well as break down what can, in some cases, be complex information. Business owners need to be aware of their financial situation but this needs to be presented in an understandable format.

Attention to detail – there are times when you may be analysing data that does not match and you will need to have good attention to detail to be able to identify where any errors may have occurred.

« Back