The primary role of every accountant is to handle money, calculate expenses and income and create financial strategies for the improvement of the business. However, with the advancement of technology, manual calculations have taken a back seat. Little or no time is left for annually reconciling accounts, matching transactions and finding flaws within the financial statements. A lot of accounting software has been introduced lately, meaning the work of an accountant has been reduced.
Most of the accountants in Hertfordshire need to secure their job as accountants by gaining extensive knowledge and developing skills that will match the technological changes.
What are the skills required for an accountant to be up to date with technology?
Good analytical skills
Previously, companies used to be satisfied with historical data analysis for financial tracking; however, now they expect predictive data as well. Today’s accountants must have sufficient analytical skills to produce predictive analysis for the business.
In the era of technology, accountants must think outside the box. An exceptional accountant is generally required to exhibit good creative skills, which can help the company solve complex financial and non-financial problems in efficient ways.
Ability to maintain relationships
Previously, stereotypically an accountant was required to be seated at the back office and did not need to interact with anyone in the business. Now, an accountant must interact with all areas of the business to gain a rounded picture and be able to present up to date information. Accountants may also need to present data to the clients directly.
Financial advisory skills
Since software has become part of the process; the majority of the calculation work is being done automatically. It can be rightly claimed that the introduction of software has reduced the majority of the work of an accountant. Software is a robot and can accurately give calculations, however, an accountant will always be required to analyse and interpret the results and help the business with future decision-making.
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