Becoming competitive in the field of accounting requires a strong knowledge base and continual development of your skills. Since tax laws and financial strategies are ever-changing, a keen awareness of current amendments in tax codes will help you save your clients some money, making you a valuable commodity. Specializing in a particular accounting field, such as real estate, corporate taxation, or auditing, often helps you become a highly sought-after professional.
1) Study for your Certified Public Accountant (CPA) license. This is one of the best ways to stay competitive in the accounting field. According to the American Institute of CPAs, you must complete 150 semester hours of education in accounting or a related field to be eligible to take the CPA exam. You can either meet those coursework requirements at the undergraduate level or get a bachelor's degree in accounting and take additional graduate-level courses. According to the site, 40 states have adopted the 150-hour requirement, and the remaining states are working to establish the same criteria.
2) Build the fundamentals. Developing your accounting skills requires a strong understanding of how individual and corporate taxation works. Since it's your job to look for ways to save clients money, a keen understanding of accounting principles will help you stay competitive. Invest time learning new accounting software programs, comparing financial strategies, and preparing individual and corporate tax returns. With an experienced understanding of real estate tax laws, business deductions, and auditing regulations, you'll stand out as an accounting guru.
3) Find a mentor using your professional, personal, or educational contacts. Never underestimate the importance of learning the ropes from someone who's already mastered and honed their skills. Choose a mentor who has experience in your particular field of accounting and has years of experience under her belt. Don't rule out someone who's had setbacks or difficult experiences because it's just as important to learn what not to do as it is to learn what to do. A mentor offers insightful tips that you might not have otherwise considered and provides valuable feedback. Tax laws are complicated. A mentor can help you fold back the layers to uncover the big picture.
4) Network and stay on top of the most recent developments in the field of accounting. Tax laws continually change and morph into new laws, so it's important to stay current on tax announcements and publications. What might apply to this year's tax return wasn't even a viable option last year. Your awareness of revised tax codes and new auditing guidelines can help you stand out from other accountants in the same field. Read professional and trade journals, both in print and online, to stay abreast of new developments and regulations in accounting.
5) Specialize in a specific area of accounting. For example, government reforms intended to ward off corporate corruption have increased demand for specialties such as internal audit and forensic accounting. In addition, baby boomers are nearing retirement age, so the need for qualified accountants and financial experts to serve senior citizens is on the rise.
6) Brand yourself in the market. To stay competitive in the workplace, you must gain credible exposure. Submit articles to accounting magazines or online publications that deal with accounting topics you are especially proficient in. Sign up to speak at accounting conferences to discuss these same topics. Public awareness gets your name out there, which can help attract new business. This is especially important if you're a self-employed accountant and want to stay competitive with larger firms.
If you need any assistance in preparing your resume or you need more specific interview guidelines that best suit your personal requirements to have a breakthrough in the Canadian job market reach out to Gettrainedgethired.com to book a free 30-Minute career counseling meeting. At Gettrainedgethired.com we provide you with the necessary training to learn practical skills to become an accountant. Our training is based on practical real-life cases. After the training, we work on your resume and try to place you in accounting firms through our network. You will also get access to like-minded individuals who are looking for jobs through our WhatsApp group. Please feel free to contact us at [email protected]. Or call us at 647-870-6986
Disclaimer: The information provided on this page is intended to provide general information. The information does not consider your situation and is not intended to be used without consultation from professionals. Salman Rundhawa and Gettrainedgethired.com will not be held liable for any problems that arise from the usage of the information provided on this page.