How to thrive in accounting

What skills and abilities should graduates have in order to thrive in the challenging world of accounting today? Chew Siew Suan, HR Director of PricewaterhouseCoopers (PwC) tells us more.

Accounting is a challenging field for the new graduate. As technology grows and changes the way businesses are run, and new fields of specialisation emerge, you will find yourself in a vibrant work environment where you need to learn fast and perform on the job. Accountants are no longer number crunchers and bookkeepers - they are trusted business advisers whose advice plays an important part in management decision-making.

While you will put to use the theories and standards you learn during your studies in your work as an accountant, there will be many things that you won't be prepared for, simply because new procedures and regulations are being put in place every day. Technology is so accessible to everyone, that even the neighbourhood convenience store is able to install a management or financial system to help them run their business. Therefore, as an accountant, you will need to stay on top of new technology and software, knowing what is available and how to use these resources in your work to increase efficiency.

Important skills

Clients want an accountant who can give sound advice, interpret and analyse figures, predict future trends and help in business decisions. The evolving business world also throws up unique problems, which require minds that are able to come up with unique solutions.

'To succeed in this profession, graduates should be creative in solving problems, they should be able to think on their feet and at the same time they need to pay attention to detail. To do well in our fast changing and highly regulated environment, they need to keep abreast of new developments and be dynamic and forward-looking,' says Chew Siew Suan, HR Director of PricewaterhouseCoopers (PwC).

Of course, clients don't just want ably skilled accountants, they want people who are also personable - people they can connect with and trust.

With such demands, accounting firms look for more than just good grades when picking their new employees. 'While it is important that you have a good academic background and have been consistently performing above average, we look for graduates who work well in teams and this will be reflected in your extra-curricular activities such as participation in sports, societies or volunteer work,' clarifies Chew, adding that they also want to see leadership qualities 'because we need people who can lead teams and act responsibly.' In addition, interpersonal and communication skills are equally important.

Proficiency in English

Where communication skills are concerned, this includes having a good command of English, considered the language of business locally and internationally. In fact, English proficiency is one of the current problems plaguing the local accounting field. Standards need to be improved especially when dealing with top tier clients. 'We look for graduates who are able to converse well with our clients and express themselves with clarity and confidence.' Confidence, claims Chew, is another factor that many new graduates need to improve on.

In order to overcome these shortcomings, she advises students to read more and practise using the language on a daily basis. It's hard work, but as she says, 'There's no magic solution to improving your command of English.' She feels that it is usually natural that proficiency in the English language will help boost the confidence of the new accountant. 'The key point is to make a conscious effort to improve on it now while you're still studying,' she reiterates.

The challenges

Chew reveals that based on feedback received from various parties, today's graduates are less resilient in facing challenging situations. 'You need to be tough,' she says. 'In a professional services organisation such as ours, entry-level graduates will go through a steep learning curve and they need to have strong determination and drive to brave through these situations,' Chew adds.

However, she wishes to dispel the myth that big accounting firms prefer those who have studied overseas. She assures that contrary to popular belief, there isn't a preference for foreign graduates over local ones. As long as the selection criteria are met, the candidates will be considered.

Getting in

For entry-level positions, you usually need to have an accounting or finance background or a professional accounting qualification. However, accounting firms will also normally welcome graduates with double majors or double degrees in accounting and IT/IS.

Before applying for a job and entering the job market, Chew warns today's accounting graduates that they will find themselves in a highly competitive environment. 'It's important for you to show that you are an all-rounder and convince prospective employers that you have what they are looking for. In short, you need to stand out from the crowd,' emphasises.

If you are considering joining the big 4 accounting firms after graduation, be prepared for even bigger challenges and constant tight deadlines. But perseverance will see you through this first step of your career and a keen interest in your work will keep you going.

Her advice to accounting graduates on choosing their first job: 'We often meet graduates who can't really decide on their first job. Start your research early, talk to relevant people about your options, consult people in the profession, read-up about your potential employers and the services they provide so that you can make informed decisions.'

Finally, she advises graduates to 'be positive. Employers like people who demonstrate perseverance and a good attitude. Be honest in assessing your own shortcomings and take steps to improve and overcome them.' Wise words - heed them.

© GTI Specialist Publishers. Reproduced with permission.