The responsibility for new accountants entering the workforce is immense. There are no entry-level jobs in accounting anymore – get ready to hit the ground running. Data entry is a thing of the past. People entering into the accounting industry are expected to take on higher level responsibility than ever before. But this doesn’t mean more work or more pay. The slog work is just automated for you, which allows you to do more of the more enjoyable, high-value work. Yay! You will get better experience right out of the gate… so long as you were paying attention in your classes. Otherwise, it’ll be a painful learning curve as you get your knowledge up to speed quickly. From what we have learned in having to hire new accountants, our advice is the following:
Be Prepared to Be on Top of Your Learning
In order to stay up to date on everything that is going on you want to be sure you are up to date on your GAAP, IFRS and ASPE standards which is common for any position. If you are wanting to get into a tech accountant position then you need to make sure that you are familiar with the tools that are currently available and staying on track with all the new tech that is coming out. Bloomberg released an article in 2017, “ Is Your Job About To Disappear?: QuickTake”, that looked into the chances of your position being computerized. The chance of an accountant’s position becoming computerized is 94%, whereas a Financial Analyst is only 23%.
A 94% computerization chance for accountants enforces the fact that keeping up with technology is the way of the future.The great thing that technology also provides us with is the choice to pick the brains of other professionals. There are countless events, online communities, discussion forums, and helpful specialists out there ready to share from their well of knowledge.
Unless you try to do something beyond what you have already mastered, you will never grow. – Ronald E. Osborn
You Need to be Willing to Work as a Team
Especially with businesses set up like ours there is no room for competition. In a traditional accounting business environment the goal would be to work your way to the top to achieve success. However, working in a small business environment with competition can be toxic. Competition doesn’t get you very far nowadays. Accounting roles, regardless of the size of the business are more complex and require more collaboration: so be a team player – it will get you farther in your career than competitiveness
You Need Well Developed People Skills
As mentioned before in the 5 trends that will change accountants forever, accountants need to be prepared to be more client facing. Part of our CFO + Bookkeeping service is to provide our clients with Financial Planning and Analysis. The CFO Services includes a sit down meeting once a month with the accountant and client to discuss different aspects of the business, how to overcome challenges and how to meet goals that are set. We find that our clients really see the value in the time that we spend with them helping them to solve their challenges and crush their goals.
Accounting Jobs – Vancouver, Toronto
If you’re an accountant looking to work for an innovative Accounting firm in Vancouver or Accounting firm in Toronto, please check our job opening using the button on our about us page.