Five Skills for the Modern Accountant

Accounting skills are no longer limited to columns of credits and debits; modern accountants are expected to take part in company leadership, manage complex technologies, and deliver accurate financial reporting on a monthly—if not daily—basis. To keep pace with modern business, accounting professionals must add nontechnical accounting skills to their tool bags.

1. Technological Ability: One of the most important modern accounting skills is the ability to integrate technology into your processes. Accountants must be able to work with cloud computing solutions, new software, and analytical programs. Some companies are moving to mobile computing solutions, and others are leveraging enterprise-wide software solutions, all of which impact the work done in the accounting department. A comfort level with computers, the ability to learn new programs quickly, and a basic understand of data security will help today's accounting professionals remain relevant in the workplace.
    
2. Leadership: Finance professionals should seek opportunities to develop management and leadership skills. Small businesses trying to maintain regulatory compliance without driving up the bottom line are likely to look for leaders with accounting skills. CPAs and other financial professionals who are looking for work outside of corporate environments may be able to find jobs in management accounting and leadership for family-owned businesses.
    
3. Regulatory Knowledge: This is one of the most valuable accounting skills in today's market. New graduates who start with a firm like PricewaterhouseCoopers and can demonstrate an understanding of accounting audit, compliance, or analytical processes can move into smaller firms with ease.
    
4. Project Management and Risk Assessment: Not only are these valuable assets for any organization—especially in a financial department—but they are also skills that could create versatility in your career. Project management and strategic planning is a growing trend across all industries, and an employee who can think creatively, implement new plans, and mind the budget is always appreciated.
    
5. Communication: Accounting professionals are no longer relegated to sterile offices or separate floors. Some companies integrate finance and analytical staff throughout the organization, so it's important to develop communication skills. Financial experts who can present complex information in easy-to-understand written or oral communications are a rare resource courted by many businesses. Develop your soft skills by volunteering for team projects, asking for opportunities to give presentations, and listening to honest feedback with the purpose of improving your communication.

For modern finance professionals, accounting skills are no longer only about the numbers. Although your employer will expect accurate financial reports and data-backed analyses, you'll also need critical thinking, leadership, communication, computer, and regulatory skills to remain competitive. Accounting students can round out skills sets by taking non-major classes. Existing professionals should seek opportunities to expand accounting skills through mentorship programs or by stepping outside of their comfort zones with work projects.

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