Financial accounting and financial accounting advisory services play a pivotal role in helping businesses manage their finances. To meet the challenges of modern-day accounting, these financial services professionals often take on a role equivalent to a CFO. As the role of an accountant is a highly responsible position, it is essential to find the best accountant for your business. Here are some of the characteristics which are beneficial for accountants and will enable them to provide excellent accounting services to their clients:

Accountants are increasingly involved in providing businesses with information in an advisory capacity. The financial information that is interpreted and reported by the accountant is then used by the company to inform critical decision-making processes. Having a good head for business and clear understanding of business models is invaluable when delivering advice to clients that will be used as a basis for business-critical decision-making.

Many people think of accounting as purely numbers on a spreadsheet. There is much more to accounting than updating accounts. An accountant needs a high level of attention to detail to report figures accurately and be able to interpret the information effectively. Inaccurately recording figures at any stage of the reporting process or misinterpreting them could lead to the information becoming wildly inaccurate and causing future issues created by skewed results.

Maintaining honesty and integrity at all times is essential when working as an accountant. The role of an accountant puts them in a highly responsible position and requires them to be trusted with a vast amount of information. Taking care of a company’s accounts sometimes means accountants can access the business’s bank accounts, so a high degree of trust is put into the accountant by the business. The financial information that accountants are privy to is also often highly sensitive. Treating this sensitive data with great care and using it only in the manner authorised is vital to prevent any breaches in integrity.

Understanding the importance of client confidentiality and acting ethically and honestly every day is a crucial part of an accountants role. This need for honesty and integrity extends to the need for care when discussing client information and ensuring that information is only discussed with those that are authorised.

While accounting is focused on numbers, there is a definite need for strong communication skills too. This is because a critical part of an accountant’s job is to deliver information to stakeholders. Producing financial reports and then presenting them to the organisation is something that accountants will need to do on a pretty regular basis. 

The accountant will need to deliver the data clearly and concisely while also being able to explain the figures where necessary. At times, the data will need to be presented to stakeholders that may not have a great deal of accounting knowledge and may struggle to understand the data. Therefore, the ability to explain complicated accounting terminology and data in an easy to understand format is an essential part of the job. 

Time management is a key skill required throughout many careers, and accountants are no exception. Having excellent time management skills is vital for accountants as there will be many occasions when tasks need to be completed to meet a specific deadline. It is essential for accountants to have their client’s accounts prepared and ready to file to meet tax deadlines; otherwise, this could result in severe penalties for the business. So, effectively managing and updating the client’s accounts throughout the financial year is a key task that must be completed on time. 

Time management is more than just a skill needed at the end of the financial year. Each month and each quarter, accountants have financial reports that need to be produced and getting these completed on time is essential.

Are you searching for an accountant with the skills and knowledge needed to take the best care of your accounts? Our team will be happy to help.