Spring means graduation time, and as secondary school graduates pour out of high schools across the country looking towards their futures, they may be wondering, ‘what next?’
We’re admittedly partial, but a career in accounting is an excellent option, especially for students with an aptitude for numerical and analytical skills. Accountants, like our skilled team at MMT Chartered Professional Accountants, offer a wide range of services to clients, giving newcomers to the industry an opportunity to focus on areas of interest and expertise.
Spring means graduation time, and as secondary school graduates pour out of high schools across the country looking towards their futures, they may be wondering, ‘what next?’
We’re admittedly partial, but a career in accounting is an excellent option, especially for students with an aptitude for numerical and analytical skills. Accountants, like our skilled team at MMT Chartered Professional Accountants, offer a wide range of services to clients, giving newcomers to the industry an opportunity to focus on areas of interest and expertise.
If you’re thinking about choosing a career path in accounting, we have some advice to help you get started. Here are a just a few of the skills we appreciate in our fellow accountants:
Strong number sense
While this isn’t the only skill that accountants need to develop, it’s certainly an important one. Accountants are relied on to help businesses and individuals make important financial decisions, and this requires being able to collect, track, correct, and analyze finances. Without solid numerical and analytical skills, succeeding as an accountant will be difficult.
Attention to detail
When it comes to accounting, accuracy is key. Accounting errors aren’t just inconvenient; they can lead to legal and financial penalties and harm the reputation of the individual or organization. You’ll need to pay close attention to the details.
Problem-solving skills
Accountants often have the role of identifying and solving complex financial problems, so the ability to analyze information and generate solutions is essential.
Ethical behaviour and professional standards
As trusted advisors, accountants must adhere to high ethical standards and conduct themselves in a professional manner. It’s also necessary to keep up with changing regulations and laws related to taxes and financial reporting. A strong awareness of compliance issues is important.
Time management
Have you ever seen an accountant during tax season? Yes, this is definitely one of our busiest and most stressful seasons. But accountants frequently work under tight timelines and often juggle multiple projects at once. It’s definitely helpful if you have excellent time management (and multi-tasking!) skills.
Interpersonal and communications skills
While this certainly isn’t unique to our field, accountants do require excellent interpersonal skills, since you’ll want to build positive relationships with your clients, colleagues, and auditors. Communicating effectively, both verbally and in writing, is essential.
Do you think you have what it takes to excel at a career in accounting? If you read through this list of skills and training to be an accountant sounds like a good fit for you, we encourage you to explore educational options available in your area. Accounting is a rewarding career that is often overlooked by secondary school graduates.
Job stability and opportunities for advancement, often combined with a high level of responsibility, offer considerable job satisfaction. There is always a demand for accounting services, meaning good earning potential, and the flexibility to work in a variety of roles and settings where accountants are needed.
If you’ve recently graduated from high school, congratulations! This could be the first step in your future career as an accountant. In addition to a high school diploma, accountants in Canada are required to obtain a bachelor’s degree from a recognized university before going on to complete the Chartered Professional Accountant Professional Education Program (PEP). Ideally, your undergraduate degree would be something like a Bachelor of Business and Accounting. If you studied a different subject area, you’re still eligible to become an accountant, but some additional preparatory courses may be required.
The PEP, which is offered by the Chartered Professional Accountants of Canada, consists of six modules that cover the core competencies of accounting and business. It supports development in the areas of financial reporting, strategy and governance, management accounting, audit and assurance, finance, and taxation.
Additionally, you’ll choose electives to complement the PEP core modules. These will allow you to explore your area of career interest, like assurance, performance management, tax, or finance.
Upon completion of these modules, all candidates must take the Common Final Exam. If you’re interested in learning about this specific training, you can read more about it on the CPA Canada website.
Accountants also learn through on-the-job training. Relevant work experience can be gained through employment, and will contribute to your readiness to obtain a CPA designation. Apply to the provincial or territorial CPA body where you reside or plan to work to gain this credential.
Graduating from high school is both exciting and scary, but the opportunities that await are endless. Critical and analytical thinkers are encouraged to consider a challenging career in accounting. You’ll have the opportunity to become a trusted advisor and play a vital role in ensuring the financial health and success of individuals and organizations. There are opportunities to work in accounting firms, corporations, government agencies, and even non-profit organizations, providing you with varied career paths to achieve your objectives.
If you’re asking yourself what’s next, maybe this advice all adds up to reveal a dream future career for you in accounting!
