How to excel as an accountant

Attention to detail is one of the most straightforward soft skills that anyone can acquire. It can be as simple as putting “sign here” stickers next to signature boxes for clients or supervisors. It can also be reading an article in depth and spotting any oversight. In a highly demanding work environment, it is not uncommon to overlook a checkbox or miss a typographical mistake. Attention to detail is listed as the first soft skill to have because this can be applied at any stage of a project by any person regardless of their position. It is a quality-defining skill that is equally important for an intern as it is for a c-suite executive.

Time management is important because we are constantly multitasking in this digital age. It is becoming more difficult to focus on one single task when everyone is constantly bombarded by instant messages and emails from various sources. Managers no longer have the privilege like in the old days to stay in a conference room with a team to crank out reports without disruption, so learning to better manage workflow and prioritize deliverables would be a more sensible solution.

Although accountants are not a “slashies” taking on multiple careers, they often juggle between various tasks, or even multiple projects concurrently. Therefore, managing time wisely will enhance efficiency and reduce delays from time conflicts. In addition, good organization skills are also beneficial for teamwork since one has to be organized in order to collaborate and delegate.

Sense of the overall task/engagement

Having a holistic view of a work task is an integral part of performing accounting duties. It is not uncommon that junior professionals are assigned to drill down into details of one business segment or a single business account. However, do not let that situation lead to becoming pigeonholed.

Having a holistic view is important because everything in the business world is interrelated. Take auditing cash accounts for example, if there is a significant increase in cash, it is important for the auditor to find out the source of the cash. The cash could increase due to an increase in cash sales, but it could also increase due to a business loan draw down. Auditing can be more efficient if auditors have a thorough understanding of their client’s business context and mode of operation. Remember that knowledge about an engagement can come through newspaper and other public media as well as directions from seniors.

Leverage technology

For more advanced users, building macros and using other computer programs to perform routine tasks are also common industry trends. Robotic process automation and artificial intelligence will reduce repetitive non-value-added work so professionals can spend more time working on advanced topics or tasks that require professional judgements.

With the current pandemic and work-from-home arrangement, many managers value people who can host Zoom meetings or webinars seamlessly with attendees tracking report, breakout room discussions, polling questions and post-meeting follow-ups.

Communication

Good writing and presenting skills are essential to communicate results and analysis accurately to different parties such as executives, investors, and board members. Although most documentations and working papers in the accounting field are numeric by nature, standards and regulations are printed in words. Therefore, there is a need to understand, interpret and communicate these regulations with professional peers and clients.

Being multilingual is a plus in Asia-Pacific markets because there are cross-border transactions that professionals can better communicate with their business counterparts using their native languages. Clear and precise communication skills can be seen through webinars, newsletter emails, and industry update pamphlets when a new accounting guidance is released. It is also important to note the importance of thinking in the others’ shoes when communicating. For example, what would be the best approach to get executives’ attention? Executives may have limited time, they will appreciate an executive summary as opposed to a full proposal rundown.

Personal branding

The Big Four accounting firms provide comprehensive training grounds for graduates. The peer learning environment is an advantage as many graduates are hired by the Big Four firms as opposed to only a few accountants typically hired into any single company each year. The Big Four firms are suitable for those who enjoy having batchmates to go through the first few years of their careers together with.

In this era of global mobility, the Big Four firms provide opportunities in major cities around the globe. Although each firm is owned by partners of that country, the broad affiliated network and cross-country engagements allow outstanding professionals to build connections and create opportunities to work in a foreign office.

The commercial sector is a great choice for those who are interested in specific business segments or companies. As a management trainee or an accountant, professionals get to be involved in many aspects of an industry. For example, accountants in the movie industry will get to see project accounting at work along a film's lifecycle; accountants in the real estate industry will get to see long-term contracts and leasing activities; accountants in the financial industry will be familiar with securities and derivatives transactions. Accounting knowledge can be used beyond financial reporting since it provides insights to business operations.

The government and regulators need graduates with accounting knowledge. It is a good choice for those who possess accounting knowledge with a keen sense of strong governance and structured process. Many organizations such as the Securities and Futures Commission, the Mandatory Provident Fund Schemes Authority, the Hong Kong Monetary Authority, and the Internal Revenue Department will have vacancies requiring HKICPA qualifications or equivalent from time to time.

There are often various reasons to seek for advice or feedback from a third party not involved in your work duties as discussion topic could involve a change in working department or even a change in employer.