If you are preparing for a job in accounting, and don’t know what kind of skills the recruiters are looking for in an ideal candidate, then you have come to the right place.
Read this article to understand what are some of the accounting resume skills you will need to impress your employers.
Let us find out then.
What do you mean by Accounting Resume Skills?
Accounting skills include your ability to understand and analyze financial transactions, generating financial reports, and forecasting budgets. They also include a basic understanding of the mathematical principles of accounting and analyzing data with the current and applicable regulations and standards.
Some Accounting Resume Skills
You must understand that impressive accounting skills include both hard skills and soft skills. While hard skills include the specific abilities you must have to perform accounting tasks, soft skills are more generic and are not directly related to accounting. However, soft skills are the basic skills you must possess to interact and communicate properly with your colleagues. Hence, striking a balance between the two is extremely crucial.
These are some of the top accounting skills you can list on your resume to impress your employers.
Understanding of Financial Reporting Standards
You must have a basic understanding of financial reporting, like the GAAP or International Financial Reporting Standards to read, understand, and prepare financial statements. Accountants are also required to be aware of the correct principles and procedures to ensure everything is being done legally and consistently.
Ability to Forecast Budgets
Accountants also are responsible for creating budgets for specific departments in a company. They are required to analyze the previous year’s data and forecast budgets for the next one. Your skill to forecast budgets will show your understanding of financial practices and demonstrate your ability to keep the budget on track.
Understanding of Tax Statements
Whether you are applying for the position of a tax accountant or not, your tax understanding skill will never go unnoticed. If you are up-to-date with the current tax laws and know how this will impact individuals and businesses, then you must list that in your resume.
Knowledge of General Business
Accountants are sometimes required to work outside the financial industry. Therefore, it is always an advantage to have generic business knowledge. Also, having fundamental business knowledge will let you work in any industry or organization you want. So, do not hesitate to list your business degree or any related course you have done.
Data analysis is the skill to derive something meaningful from raw data. Accountants are required to create and verify reports and budgets based on business expenses and revenue. That is why data analysis is a necessary skill for every accountant.
Accountants also need software skills like creating and managing spreadsheets to maintain accounts and generate financial statements. With advancing technology, staying up-to-date with the latest accounting applications will give you an edge over other applicants.
Additionally, accountants must possess effective communication skills. Accountants need to convey the information while presenting tax reports, budget proposals, or other financial statements. Listing your communication skills will let the recruiters know you can work well in a team.
Critical thinking is a necessary skill for everyone in the working industry. It is the ability to analyze something from all possible angles before you make a final call. Accountants need to solve problems regularly, and having the ability to analyze the subject effectively, will help you reach the best possible answer. Critical thinking is a great skill to list for impressing your employers.
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