Accounting plays a crucial function in any organisation. As a result, the majority of organisations need that an accountant holds a minimum Degree in Accountancy, while some large organisations demand that an accountant be a Chartered Accountant.
Accountants must possess the following skills:
- Automation
The duties of an accountant frequently include creating budgets and financial reporting. An accountant is now required to use accounting and data analytics tools in addition to being familiar with Microsoft Word and Excel. Accounting software aids in the administration of business operations and the creation of financial reports for management decision-making. Data analytics software is used by organizations to transform raw data into more useful information for business decisions. - Knowledge of accounting standards
Accountants must be knowledgeable of the Financial Reporting Standards (FRS). Accountants are expected to stay current with the annual publication of new or changed accounting standards. - Communication
Unlike before, when accountants might remain in the back office. Today’s accountants must interact with many departments that are less accustomed to accounting lingo and norms. This is necessary for the accountants to calculate budgets and turn data from charts and numbers into a narrative that is understandable to the general public. - Critical thinking
Accountants frequently run into inconsistencies and mistakes. They have the duty of solving issues. The accountants’ ability to think critically will allow them to take into account all the potential outcomes of various scenarios. - Ethics
There may be rules of professional conduct that an accountant must accept and abide by in order to perform their duties, depending on where they work. Because the financial health and position of a company affects people both inside and outside of the organisation, accountants must maintain objectivity, ethics, and honesty in their work.
