Different Ways to Advance Your Accounting Career



Feb 29, 2020 by Mohsin Raza

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#ReadingIsFundamental

Accountants are far ahead from record-keeping tasks. They can add value more than this in the field of accounting. Record keeping tasks are just for data entry operators. But unfortunately, due to unemployment in our economy, commerce graduates are ready to do record-keeping jobs while they could serve much more than this and even industries hire them for financial transactions recording jobs.

So, in order to advance your accounting career, you must go for professional accounting certifications like Chartered Accountancy (CA), Cost & Management Accountancy (CMA), and Chartered Certified Accountancy (ACCA), etc. These professional accounting certifications are fabricated with enormous expertise to deal with all functions of businesses excluding nothing. I would like to mention few of them: Auditing, Company Laws, Tax Laws, Corporate Reporting, Financial Management, Professional Accounting, Management Accounting, Costing, Business Management, Business Development, Analytics and much more than these because when we say Business Management, it counts everything related to business management and its all functions like Administration, Operations, HRM, Marketing, Strategic Management and so no. So, if you want to go noisily in this field, you must go for one of them.

As innovation is one of the important factors that help organizations to make growth rapidly. Therefore, ERP systems are the need for organizations in today’s time. As a result, organizations are looking for more data entry jobs instead of hiring of commerce graduates for Accounting tasks. So here, Commerce graduates including those who are looking to do their graduation in commerce must go for professional certifications in accountancy in order to lead from the front.

While you would have been busy doing your professional certification in accountancy, you must have to work on the following points in order to make you better and better.

1. Communication Skills:

It is one of the most important skills. Even you have a great idea about anything and/or have the best expertise, if you cannot communicate in the best possible way, these are useless. Communication skill helps you to make others understand how you would perform any given tasks and what would be the outcome. So, work on your communication skills so that you could speak amazingly and make understand others what exactly your way to perceive things and achieve things.

2. Interpretation Skills:

This is something very amazing skill. Although people have degrees in commerce and working in the same domain for so long, but they lack while interpreting the financial performance of organizations. So, having good knowledge of finance & accountancy and relating this good knowledge with numbers mentioned in financial reports is far different. You must have an expert mind that is being trained in such a way to see numbers to produce brief analysis for business to make crucial decisions for the betterment of business organizations and its growth. So, try to train your mind in such a way by doing different practices like reviewing financial statements of different organizations and try to comment on them based on your review.

3. Error Management:

More than one individual is employed in organizations to work for it in order to achieve collective organizational goals. So, lots of individuals are working together and therefore, probability of doing errors is more or less high. You must be that one individual who has a problem-solving attitude with an extendable sight to highlight the errors and provide a quick solution that must be the best appropriate solution for that error. “The things we fear most in organizations – fluctuations, disturbances, imbalances – are the primary sources of creativity.” (Margaret J. Wheatley). Most employees don’t speak about mistakes they got to know about just because of the fear they have inside them. While after a few days, the same blunders come up in front of them and then they have to face those blunders even they are not responsible for them. So must speak about errors even you are not responsible for it and also provide its best-suited solution. It shows how much responsibility factor you have for the organization and in long run, it will have an impact.

4. Knowledge of Different Industries:

You must have to study about different industries. Industries are all unique and their processes are also different. So, you should have a sound knowledge of different industries and their processes because you don’t know once you would qualify in professional certification, you would be working for what industry? So, keeping knowledge of various industries is important to have a competitive advantage over other professions’ candidates.

5. New Technological Developments:

As I have mentioned above about ERP Systems, technology is taking competition to the next level and therefore, its importance is very high. Globally, SAP is the number one ERP Solution for business organizations to keep its information management process efficient, accurate and secure. For SAP configuration, your role is very vital to design reports for the system so that system could produce those reports with the help of information data located in its database. Reports are very important because a good comprehensive report helps in the decision-making process and only an expert could design good comprehensive reports. Business Intelligence is another tool for board of directors and departmental heads to keep on eye on the live performance of an overall business and specific departments’ performance as well as an individual’s performances. So, its also important to have sound knowledge about this tool in order to be efficient in your daily tasks, to have good control over operations and to achievement of your sort-term targets by deadlines.

6. Networking Skills:

Good contacts establish a strong network and the strong network could help you in terms of having different suggestions and recommendations about your job as well as business dealings so that you could make your decision with the best analysis of situations and the upcoming pros and cons after making that decision. I know it takes effort to strengthen your network but it is important for you and the society as well. Because we all are about to act and/or react to something. So why not it could be done inappropriate way and for the same purpose for which you are putting your efforts to get success. So, I must say it is good and important to have networking skills for more betterment.

Certifications, degrees and even the best skills’ sets are not just enough to advance your career in any field. You must have to work on your personality and the outcomes of personal grooming would be the most important tool which would help you to act in a best possible way in situations and you could make a good impact on people around you and this would help you to excel your career by fulfilling the responsibilities.

 

Written by

Sajid Kapadia - TSB Education

Syed Moeed Ahmed

I am a CMA finalist with a good understanding of ICMAP psychology. I also have three years of industrial experience of working as an accountant and SAP Functional Consultant. I always try to be a factor that brings change for betterment. I have served the construction industry, textile industry and consulting industry. Currently, I am working with TSB Education as a course designer. I like to read and be inspired by the writers, I like to write my thoughts based on the situations I have faced in life, situations I observe in people’s lives and the topics that are required to be promoted so that people could aware of the discussion. My aim is to spread information rightly with a good approach to make a positive impact on so many lives. So, hope for the best, try your best and forget about the outcome.

Course Designer
TSB Education

Linkedin Profile:

https://www.linkedin.com/in/moeedahmed3816069/

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