Tips that made accomplished finance professionals what they are today.
Youngsters have always been keen on building a career in accounting. One of the primary reasons is that the accounting industry will never fade away, and your skills will still be in demand.
However, just opting for an accounting career doesn’t make you successful. Real success comes with hard work and professional experience. Young and aspiring CPAs should try to identify their strengths, learn from their seniors, and incorporate all their learnings into their skillset.
Below are top success tips that’ll help young CPAs build a successful accounting career.
1. Get Out of Your Comfort Zone
As a young CPA, you should look for opportunities within your comfort; instead, it is time to explore new things that help you learn. Taking up a challenge is the best way to gain knowledge, expand your skillset, and show your seniors that you do not shy away from uncomfortable situations.
Give your best to handle responsibilities more than your current position demands. This way, you’ll be recognized for your efforts and will make your growth faster. Even if you fail during certain challenging situations, learn from it, use its experience in the future, and grow more.
2. Find a Mentor
Choosing a mentor is a crucial step towards your success. Your mentor guides you in your work-related queries as he/she would have faced the same problems. Having someone to help you during the times you need it the most can do wonders for your career and avoid a mistake that could derail it.
Do not restrict yourself to one mentor if you feel that you can gain knowledge from multiple people. For instance, one may guide you in making the right career decisions while the other may help you gain domain knowledge and technical expertise.
3. Keep Up With The Technological Advancements
Passing the CPA exam is not enough to build a sustainable career in accounting. You also need to keep yourself updated with the technological advancements in your field and learn them. This will give you a significant advantage in the long-term – Excel has become an integral part of the accounting industry.
There have been other recent technological advancements, such as artificial intelligence, machine learning, and cloud computing. For instance, firms have now started using cloud computing to host accounting applications such as QuickBooks and access them via the cloud. You should be well aware of these advancements.
4. Develop Soft Skills
CPAs play with numbers and are excellent in financial planning and giving business advice to their customers. However, expertise in the finance domain is not enough. They also need to interact with their seniors and clients.
Soft skills go a long way in helping accountants and CPAs grow more. These are interpersonal skills that help CPAs become a team player and show leadership qualities. These include communication, decision-making, time-management, and the like.
5. Gain Knowledge of Multiple Job Profiles
CPAs and accountants handle multiple job profiles – financial reporting, bookkeeping, auditing, and more. Thus, it is necessary to gain experience in multiple fields during the first five years of your accounting career. This is absolutely necessary for a long-term accounting career.
Ask your manager to change your job profile at least once after two years so that you have the confidence to handle multiple roles. Handling numerous roles for three years will always be more beneficial than working on the same profile for five years.
To Sum It Up
A successful accounting career is determined by a mix of technical expertise and soft skills. You have to make regular efforts to gain more knowledge and handle multiple roles. Also, keep yourself updated with the latest and upcoming trends of the industry.
Did we miss any point? Please mention in the comments below.