- Critical thinking skills are the ability to read accounting principles and apply them to financial transactions that occur from business operations. Many accounting principles deal with the broad, technical nature of financial transactions; accountants must interpret the principle and properly record the transaction into the company's general ledger. FASB relies on accountants to use their professional judgment when applying the standards and principles of Generally Accepted Accounting Principles (GAAP).
- Most accountants learn basic accounting skills by earning an accounting degree through a college or university. Understanding the nature of debits and credits and how financial information flows through the general ledger accounts are important skills for accountants. An accounting education also teaches individuals about anticipating the changes in the business world and how new financial situations create learning opportunities for accountants.
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Computer competency is a very important part of an accountant's technical ability. All companies use some form of a computerized accounting system, such as QuickBooks, Peachtree, or JD Edwards. These systems use a variety of computer functions to properly record financial information and create financial statements.
Spreadsheets are another important part of computerized accounting systems. Many times account reconciliations or other reports are created using spreadsheets from financial information. -
Leadership skills are a technical skill that can be learned by most accountants. Leadership is an important trait for accountants; many accountants provide financial analysis for all types of business decisions. Understanding how to lead others is a great tool when providing information to management and directing them to make a wise financial decision.
Public accountants may lead other accountants during an audit; properly understanding the leadership role for auditors is essential to providing input on company audits. -
Accountants prepare and report financial information for outside investors and stakeholders regarding the fiscal health of a company. High ethical standards are imperative for accountants, and must be taught through education and experienced accountants. Strong internal controls also help accountants learn ethical behavior by limiting their exposure to multiple accounting functions.
Review courses and continuing professional education seminars teach accountants how to maintain high ethical standards and lead by example in the workplace.
