It takes the right combination of both hard and soft skills to succeed in finance or accounting job. Check out the following list of technical skills that employers in this industry want to see when they hire a suitable candidate.
- Understanding of Generally Accepted Accounting Principles (GAAP)
Generally Accepted Accounting Principles(GAAP)entails the set of standards that govern the practice of accounting worldly. They’re structured to standardize accounting practices across all business organizations to ensure that a company’s financial statements are verified.
- Advanced level proficiency in Microsoft Excel
Knowing Microsoft Excel a basic job requirement, as accounting or finance professionals are required to work in Excel on a daily basis. This may also include the use of spreadsheets, which is essential to be able to read and analyze the data.
- Business intelligence software experience
Accounting and finance professionals play a crucial role in guiding the financial direction of the organization. This calls for the ability to make accurate predictions about the future nature of sales, inventory, and labor. You can also employ this to make recommendations to the board of directors or c-suite.
- Knowledge of QuickBooks
QuickBooks is one of the most commonly used accounting software among small businesses, with the online version boasting some millions of users. The software offers a suite of special features that are useful for growing financial organizations, by expense tracking, invoicing, and payroll.
- Tax preparation software handling
There’s an entire division of the accounting and finance industry that is dedicated to tax. Through this course, you become an eligible candidate to work in this field. Go ahead and utilize your deep knowledge of the software that your organization may need for tax preparation.
- Proficiency in preparing financial statements
Financial statements are an integral aspect of an organization’s business activities and economic position. These statements must be clear and easy to understand as they’re used by most entities, including employees, shareholders, potential investors, and financial institutions.
- Data management or data query abilities
The amount of raw data in the world is growing, and that includes the financial data of organizations. One of the most relevant technical accounting skills to handle the exponentially increasing raw data is the ability to help a company manage and utilize the data to its advantage. One essential data query skills, that comes in the form of the data query language is SQL (structured query language). It’s a programming language used to gather the information you need to manage large volumes of data.
- Conducting independent research
No matter the strength of your finance skills, you’re bound to run into situations where you can’t find a solution. This is whythe ability to conduct independent researchis required for all accounting and finance jobs.
The above-mentioned skills are essential for every accounting aspirant who wants study Bachelor of Arts in accounting and finance programme. Explore part-time accounting courses in Singapore, and grab the opportunity to brush up on the highly sought-after skills in the financial market.