Accounting Professionals: Skills & Responsibilities

As an accounting professional, you possess a versatile skillset that can be applied across various industry sectors. This allows you to tailor your career to your specific career goals and areas of interest. According to the U.S. Bureau of Labor Statistics, the demand for accounting professionals is expected to grow by six percent between 2023 and 2033, which indicates a stable career outlook for many years ahead*.

What is an Accounting Professional?

The role of an accounting professional can vary depending on the specific area of focus. However, regardless of specialization, accounting professionals are financial experts who work with individuals, businesses, or firms to analyze and maintain their financial records.

When determining the area of specialization to pursue, there are many different paths, including:

Public Accountant: As a public accountant, you work with accounting firms or independently, providing various services, including auditing, consultation, and tax preparation.
Bookkeeper: Also known as an accounting clerk, a bookkeeper assists businesses with keeping accurate financial records. They are responsible for helping companies understand their finances, tracking transactions, reconciling accounts, and managing their profits or losses.
Management Accountant: This accounting professional focuses on internal financial management, such as budgeting, cost analysis, and forecasting future expenses to provide valuable insights for decision-making.
Financial Analyst: As a financial analyst, you would prepare reports from economic data and advise businesses on financial strategies. You typically see this type of accounting professional in large-scale organizations or financial-related industries.
Accounting Manager: An accounting manager is responsible for a team of accountants who usually prepare financial statements, budgets, or reports for an organization.
Chief Financial Officer (CFO): With expanded expertise as an accounting professional, you could have the opportunity to step into a senior executive position as a CFO. In this role, you would oversee a company’s financial operations, including risk management, reporting to stakeholders, and financial planning.
Environmental Accountant: This accounting professional tracks and reports environmental costs and ensures an organization follows environmental regulations and laws.

What are the main job duties of an accounting professional?

The job duties of an accounting professional can vary depending on the type of accounting; however, there are some daily responsibilities related to any accounting professional. These responsibilities include:

Account Reviews: As an accounting professional, you will often review accounts within a defined period, such as every month, quarterly, or yearly. These reviews typically help accountants reconcile changes, determine and categorize expenses, prepare reports, and ensure consistency across a business.
Documentation: Accounting professionals document tax filings, profits and loss statements, and expenditure records. Maintaining this proper documentation helps a business determine if there are any financial discrepancies, create reports, and conduct risk assessments.
Financial Advice: Due to your in-depth knowledge of economic situations, accounting professionals often provide valuable financial advice. This allows individuals and businesses to make informed decisions about budgeting, investments, and managing expenses.
Financial Regulations: Accounting professionals understand financial regulations and procedures, which can ensure that all economic activities comply with relevant laws and industry standards.

What skills do you need to be an accounting professional?

Every individual career has its unique skills, and as an accounting professional, it is recommended you have the following skills:

Technical Knowledge: This skill set is classified as one’s ability to understand technical requirements and processes. As an accounting professional, technical knowledge is essential because it helps you look for and identify patterns, streamline an organization’s financial processes, and prepare financial documents accurately.
Communication: A key to being a successful accounting professional is the ability to powerfully communicate, both verbal and written, to help other professionals, staff, stakeholders, and clients understand. With such strong communication skills, you can work effectively with teams to collaborate and ensure all parties are on the same page.
Time Management: Effective time management is a key skill set for handling the multiple responsibilities of an accounting professional. The ability to prioritize tasks and meet deadlines demonstrates your capability to manage multiple projects efficiently while staying organized.
Attention to Detail: An accounting professional’s sharp skillset includes the ability to maintain strong attention to detail. This is vital for catching small details or changes. By remaining observant, you can identify trends, flag irregularities, and ensure the accuracy of financial documents.
Understand Software: Accounting professionals utilize various software programs daily to complete their daily tasks. These programs can assist with report management, financial projections, or budgeting. Mastering these software programs enhances efficiency and ensures that financial tasks are completed accurately, improving overall organizational productivity.

How can accounting courses or classes help you become an accounting professional?

To be an accounting professional, you must obtain a relevant degree through a program like the Manhattan School of Computer Technology. Their 60-week** comprehensive accounting program will prepare you with the necessary tools, knowledge, and skills to begin a career as an accounting professional. Their course curriculum covers essential topics, including manual accounting I, II, & III, Microsoft Word, payroll accounting, computerized accounting with Microsoft Excel, QuickBooks & Peachtree, and income tax procedures.

A standout feature of MSCT’s accounting courses is practical hands-on experience gained through a 300-hour internship in a real business environment. This opportunity helps you build confidence and acquire the skills needed to excel as an accounting professional. Additionally, MSCT’s accounting courses offer flexibility with class schedules, including morning, afternoon, or evening options to accommodate your lifestyle needs to pursue an education.

Are you ready to begin a career as an accounting professional?

A career as an accounting professional can take many different paths, depending on your area of interest and goals. Whether you’re drawn to bookkeeping, tax, auditing, or financial analysis, accounting programs like the one MCST offers can help you get your career on the right track. Take the following steps toward your future and enroll in an accounting program today to set the foundation for a successful professional accounting career.

Resources/Additional Information:

**https://manhattanschool.edu/programs/comprehensive-accounting-computer-operations/**

**Program length when completed in normal time.