6 Ways to Step Up Your Career in Finance and Accounting

There are many reasons why people have a career in Finance and Accounting, but primarily it’s because the skills you learn from the field would always be in demand. Basically, every business needs someone to do accounting or handle the company’s finances. So if you’re eyeing to improve your career, there are some things you can do to help yourself get in a better position to have opportunities come your way.

1. Be a CPA

Having an Accounting course is a good start in your career, but becoming a CPA will put you in a better position early on. This will also give you the opportunity to try your skills in public accounting or take a finance role in a big organization. To be a CPA is an arduous undertaking task, which is why you’ll gain respect from your peers in the field, as well as impressed employers. Long term, CPAs have a greater potential of landing a position of authority later on as opposed to not getting certified. You will also enjoy better benefits and security, along with having the chance to work with talented professionals and take on a highly-specialized job.

2. Get With The Times

There has been an increased rise in finance automation in a lot of back-office tasks. Technical advancements have paved the way for accountants and financial experts to maximize accounting systems such as SAP, Oracle, and MS Dynamics. You will need to learn to enhance your Excel reporting skills and learn Business Intelligence tools to help you handle and sift through a lot of data. Analysis is the bread and butter of somebody in Accounting. Technology is there to facilitate and help with the tasks, but it still needs somebody with the skills to perform lateral thinking, provide a sound analysis, come up with a personalized solution to problems, and make insightful recommendations on improvements. The best way to showcase your skills is to bank on KPI-driven results.

3. Continuous Learning – Getting an MBA

Getting an MBA can help prepare for bigger roles in an organization. Employers value them in business leadership as their education gives them a better business perspective either in finance or accounting, which helps them in their role. The knowledge in the course will supplement your accounting skills, which will give you a position for better opportunities. While on the job, especially in the early years, do not settle for doing the same things without doing something to learn new things.

4. Focus On Communication

One of the most important things to get ahead in your career is the ability to communicate effectively. Communication skills are important to explain accounting or financial jargon. The days of staying in a cubicle are gone, the role will now require you to help clients understand industry language and translate institutional knowledge into sound recommendations they can fathom. Your communication skills are important in building interpersonal relationships. Companies benefit greatly when clients and customers know they can trust and have established a good relationship with them. Those who aspire to excel in their careers must know how to drive customer satisfaction and build rapport.

5. Establish Your Network

Networking has been proven to be an effective way to get the job that you want. Make sure you maintain a good relationship and continue to expand your network so you’ll have someone to turn to for advice, guidance, or ideas over time. Having an extensive network can help you land a job that would otherwise be difficult to get. There are also some jobs that are not publicly posted and are only available through referrals.

6. Learn Management and Business Acumen

Managing a team is not something accountants are known for, but if you’re looking into improving your career, you might want to gain the ability to handle a team. This will show your employers that you’re capable of a leadership position, and they’ll keep that in mind. You will also have to get the bigger picture. This means that in the course of your career, try to see things from a higher perspective and spot trends that will commercially affect the market and the business as a whole. Having this interest and knowledge will typically put candidates in a better position.

Your success must come from a conscious effort to improve yourself every day. Technical knowledge and skills are important, but you will need to cover your bases with other things that pertain to stepping up the ladder. Take a long-term view and create a plan with short-term milestones to get you near your objective, that, and a “bit,” hard work couldn’t hurt.