What are skills for an accountant? Accountancy skills and how to get them

Are you considering a career in accounting? Whether you’re a new graduate or someone looking for a career change, you’ll need to develop a diverse set of skills to succeed in the field. Aside from being adept with numbers and accounting software, you’ll need a range of soft skills as well.

In this article, we take you through everything you need to know about acquiring the relevant accountant skills. Learn about the specific technical abilities you need, how to get them or improve them, and how to list these skills on your resumé to make it stand out. 

What are accounting skills?

As an accountant you’ll need both hard and soft skills to excel in your career. Accounting skills include a range of technical and non-technical competencies that allow you to perform various financial tasks and responsibilities. These skills are essential for accurately recording, analysing and interpreting financial data, while ensuring compliance with relevant accounting principles and regulations. 

Accounting skills include a variety of hard skills, like:

• proficiency in using accounting software, 
• preparing financial statements, 
• conducting audits, 
• managing budgets, and 
• other technical aspects that are specific to the job. 

Accounting skills also extend to soft skills, like communication, problem solving and critical thinking, which contribute to effective decision-making and collaboration. Ultimately, the most important skills depend on the individual accounting role.

The CPA skills list details a range of categories and abilities that are relevant to a job as a Certified Practising Accountant (CPA). It also provides examples of the types of tasks you can perform to demonstrate your competence when it comes to a specific skill.

Hard skills for accounting

Hard skills, also known as technical skills, are the ones you learn through your education, training or hands-on work experience. These types of skills are usually specific to a certain job. 

When it comes to accounting, hard skills include:

• Accounting principles
• Accounting software proficiency
• Auditing
• Budgeting and forecasting
• Business valuation
• Data analysis
• Financial modelling and reporting
• Generally Accepted Accounting Principles (GAAP)
• Mathematical comprehension
• Modelling data
• Risk management
• Taxation

Keep in mind that the precise hard skills you need will differ depending on the organisation that you’re working for. 

Soft skills for accounting

Soft skills are non-technical skills or general abilities that aren’t specific to a role. Soft skills help when interacting with others, boosting your efficiency and improving your overall job performance. Although these skills aren’t specific to accounting, they complement your suite of hard skills. Whether you end up working for a big company or for yourself, they’re essential for success as an accountant.

Accountants need to demonstrate a range of soft skills, including:

• Adaptability and flexibility
• Communication
• Conflict resolution
• Creativity and innovation
• Critical thinking
• Emotional intelligence
• Interpersonal skills
• Leadership skills
• Negotiation skills
• Problem solving 
• Resilience
• Teamwork and collaboration
• Time management

How to improve your skills to be an accountant

With the above in mind, you might be wondering how to gain new accounting skills or improve your skills as an accountant. Here are just a few ways you can develop your skills:

• Complete a degree: the first step to becoming an accountant is to complete a bachelor’s degree in accounting. Throughout your degree, you’ll pick up the basic skills and knowledge required to gain an entry-level accounting position.
• Gain professional certification: once you’ve completed your undergraduate degree, you may want to consider additional certifications. Completing a Certified Practising Accountant (CPA) or Chartered Accountant (CA) program is often a requirement for many accounting positions.
• Take online classes: taking an online class is a great way to improve your accounting skills. Online education offers flexibility and accessibility. Plus, you can choose from different accounting courses depending on your learning needs.
• Read books and journals: reading books, articles and online resources is a great way to enrich your professional development. Subscribe to industry publications or newsletters to stay up to date with software developments and accounting regulations. 
• Join a professional organisation: as a member of a professional accounting body, you’ll have access to a range of learning opportunities and resources that are designed to help you further develop your practical skills and knowledge and continue on a path of professional development.
• Find a mentor: if you’re able to land a role at an accountancy firm or work within an accounting team, seeking mentorship from one of your senior colleagues can be a great way to improve your skills on the job. Workplace mentors are often able to provide immediate feedback and guidance as you develop new skills, and can help you expand your professional network.

How to list skills for accounting on a resumé

Once you have all the relevant accounting skills, you need to make sure you’re showcasing them effectively on your resumé. By highlighting your qualifications, you’re able to demonstrate to potential employers that you have the skills necessary to be able to excel in the position.

If you’re in the market for a new job, it’s essential to have a strong skills section on your resumé. You should include both hard and soft skills, so that potential employers know that you’re both technically competent and able to collaborate with others. It can be worth creating a dedicated skills section on your resumé featuring a bullet-pointed list that places the most relevant and important skills at the top. In your work experience section, you should include concise examples of your achievements or responsibilities that demonstrate your proficiency in the abilities listed in the skills section. 

Although it might be tempting to list every one of your skills on your resumé, it’s best to avoid overloading it with irrelevant details. Instead, carefully read the job description and focus on the skills specifically mentioned. Be sure to update your resumé as you gain new skills or certifications and tailor it for every job application. 

Becoming an accountant requires specific technical knowledge complemented by a range of soft skills. The exact set of skills you need depends on your chosen area of accounting, though software proficiency, basic numerical skills and financial knowledge are essential across the board. A degree or diploma in accounting is a strong foundation for your career, while further certificates and training will contribute to your ongoing professional development and set you up for a successful and fulfilling career. 

FAQs

What are the essential skills needed to become an accountant?

To become a successful accountant, you need to have a range of hard and soft skills. Here are just a few of the skills that you’ll need:

• Financial knowledge
• Analytical skills
• Attention to detail
• Mathematical proficiency
• Organisational skills
• Written and verbal communication skills
• Ethical judgement
• Problem solving
• Technical proficiency
• Time management
• Interpersonal skills

What software programs should I learn to enhance my accounting skills?

There are a number of different accounting software programs that you should familiarise yourself with to help improve your accounting skills, including:

• FreshBooks
• MYOB
• NetSuite
• QuickBooks
• Sage Intacct
• Wiise
• Xero
• Zoho Books

Accounting software helps to streamline processes, improve accuracy and increase efficiency in accounting work. Keep in mind that certain industries, job roles and organisations use specific software, so it’s wise to make sure your skills are relevant to the particular job you want. By mastering different accounting software packages, you’ll be better placed to progress your career.

What certifications should I pursue to enhance my skills in accounting?

There are several different accounting certifications you can pursue after completing your bachelor’s degree. The most common certifications in Australia are the Certified Practising Accountant (CPA) and the Chartered Accountant (CA). While both of these qualifications focus on accounting, they cover slightly different content, which could make one certification better suited to your career goals. 

In general, CPAs focus on a broader scope of accounting and business management, while CAs tend to have more of a focus on the technical aspects of accounting and a more in-depth understanding of complex taxation matters. 

How can I stay aware of changes in accounting technology and software tools that can enhance my skills?

To stay current with updates in accounting technology and software, consider subscribing to industry publications or joining a professional accounting body. Other strategies for staying informed include attending industry events/conferences and participating in online forums and communities. Online courses are another way to keep your skills and knowledge relevant.