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Tips for Growing Your Career in Accounting

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The field of accounting drives a business organization. Finance is the backbone of a company’s monetary operations and the pillar of its permanent profitability. So, with a degree in accounting, you increase your chances of gaining high-level positions in an organization. This career seems attractive because of work stability, schedule flexibility, and job satisfaction. The skills you acquire during your tenure as an accountant can help you transition to another work field. This unique industry – projected to grow rapidly this decade – doesn’t lack certain challenges. Therefore, you should follow the below-mentioned suggestions to ensure a flourishing career in finance:

1. Soft Skills

You can’t excel in your career with just hard skills no matter which field you choose. The financial sector requires you to possess the necessary soft skills[1] to survive this competitive profession. These soft skills help you become a better-functioning professional in accounting. A successful employee must be a team-player with time-management and decision-making abilities. He/she needs to be an effective communicator, endowed with public-dealing skills. These qualities will launch your career and help you gain expertise in finance. Your promotion chances are scarce without these skills since you won’t get noticed by your manager very much.

2. Mentorship

It would be best if you had veterans of this field for financial counseling. Mentorship permits you to understand the ups and downs of accounting while becoming capable of better understanding your career choices. Remember that mentorship is a long-term commitment. It requires your diligent determination and insatiable investment to survive. As a result, not only you’ll see an improvement in your social skills, but also an increase in your general know-how. Mentorship allows you to learn from your seniors’ experience. Job shadowing is temporary mentorship where you tag along with a superior and watch him/her do your dream job. It is how you are acquiring secondhand experience in finance.

3. Education

The process of learning is everlasting and should carry on permanently. Continued education helps you overcome your weaknesses and gather more information to grow in your field. Multiple benefits of masters in taxation make these attorneys an indispensable asset for a business organization. Companies require individuals with a command over tax law, making LLM a practical choice for prospective students. So, always avail fresh learning opportunities provided to you. It doesn’t if you’re employed or still searching for a job; your training shouldn’t stop. That’s how you can deliver on time and perform better than expected in your career.

4. Networking

Creating associations before you enter the field of finance is vital to surviving in this industry. These meaningful connections help you advance in your career and gain useful insights into accounting. Networking establishes your status as a financial professional by providing you significant business relationships. Your reputation precedes your financial expertise in this sector. That’s why you need your pre-established networks for business and not the other way around.

5. Write

Get yourself published to gain respect among your peers and authority among colleagues since you’ve acquired a good position in your career. Now, it’s time to benefit the world with your knowledge and expertise. Blogging can also assist you in curbing competition and rising above your rivals in the industry. Part-time or freelance penmanship will also polish your soft skills since a good accountant must be well-versed in textual expression. You can establish your different blogging website. Or you can write for well-known journals and magazines. Doubtlessly, Getting your article to appear in Harvard Business Review or Bloomberg Businessweek is a big deal!

6. CPA

When is it time for your CPA exam? There are different opinions on this matter. But if you’re academically prepared, we recommend you take this test as soon as possible! This credential can jump-start your career and help you launch a financial vocation from scratch. As per NASBA, CPA isn’t just about gaining career security or job satisfaction. It’s about prestige and respect.

Moreover, you can earn 10-15% more in finance with a CPA license. Please don’t underestimate the contribution of education since you’ll need it to pass this exam. While a bachelor’s degree in accounting is the least requirement, a higher degree brightens your chances to become a CPA.

7. Technology

In the end, never lose sight of the current technological trends if you wish to survive the field of finance. Keeping up with the latest developments in your industry makes you a better accountant. Gaining a CPA license isn’t enough if you’re not complying with the CPE requirements. These continuing professional education requirements will improve your job skills, retaining your status as a valuable employee. So, besides writing, continue reading about the financial gossip in reputable journals. Ensure that you’re familiar with tech tools and software programs such as Excel, Oracle, and Cognos. This familiarity will allow you to stay abreast with the evolving world of finance.

Conclusion

A career in accounting and finance can be a lucrative opportunity if you’re looking for a work transition. There’s always a high demand for financial experts. A legal background can elevate your chances to excel in this industry. Finance professionals create economic strategies to ensure businesses stay profitable with optimal performance.

https://hbr.org/2014/07/the-skills-leaders-need-at-every-level