Accounting Finance Employment

By: EconomyWatch   Date: 25 September 2009

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Over 20,000 people join public accounting firms at the entry level every year. These positions open for fresh business graduates, several of whom may have completed their internships in the accounting field. The basic skills required for gaining accounting finance employment are:

  • Major in college
  • Good grades
  • Good communication skills

Apart from these basic skills, there are several other key skills required to progress in the accounting finance field.

Accounting Finance Employment: Skills and Talent Required

The key skills and talents required in an individual seeking employment in accounting finance jobs are:

  • Team Orientation: In the accounting finance field, you usually start as a junior in a team responsible for preparing financial statements or auditing an important account. It is, thus, critical for you to enjoy working as a team player.
  • Innovative Bent of Mind: The accounting field has been witnessing continuous technological and intellectual innovation over the past few decades. Firms are implementing new electronic systems for submitting and preparing financial statements. The methods of tracking costs have improved with the introduction of techniques such as activity-based costing.
  • Making contacts: It is critical to develop a strong network of business contacts in consulting. New business development becomes part of your job. As your classmates rise in their respective business areas, it is important to stay in touch with them as they may become your future customers.
  • People skills: The best accountants can rise high in an organization to positions such as CFOs in listed companies and partner in a public accounting firm. Relationship building with clients and colleagues is critical to rise to these positions.

Accounting offers immense career opportunities. The accounting field can broadly be divided into three areas:

  • Auditing
  • Financial/tax
  • Management accounting

The skills required in these areas are:

Audit Accounting
Tax & Financial
Management Accounting
People skills
Medium
Medium
Medium
Sales skills
Medium
Medium
Low
Communication skills
Medium
Medium
High
Analytical skills
High
Very High
High
Ability to synthesize
Medium
Low
High
Creative ability
Low
Medium
Medium
Initiative
Medium
Medium
Medium
Computer skills
High
High
Very High
Work hours
40-70/week
40-70/week
40-50/week

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