Tips for Enhancing Your Accounting Skills
Hello everyone! As a recent graduate (Class of 2023, age 25), I didn’t excel academically (with a 2.88 GPA) and only had one banking internship during my studies. Because of this, I recognize that my foundational knowledge and résumé aren’t as robust as I’d like.
About a year ago, I landed a junior Accounting role at a sizable nonprofit organization. Interestingly, I’m currently the second longest-tenured member of our four-person department, which includes the COO, CFO, and an Accounting Manager. My tasks primarily involve light Accounts Payable and Receivable, basic bank reconciliations, ensuring compliance with card receipts, retrieving information for audits, and various other administrative duties.
While my supervisors have given me positive feedback, I sometimes feel out of my depth. In our meetings, we discuss more advanced accounting concepts and responsibilities, and I struggle to keep up due to my limited background in the field and my slow learning pace. My team is aware of this, and I often find myself excluded from higher-level projects, likely because it would take too much time to bring me up to speed.
I recognize that I’m currently in a position where expectations are relatively low, which is certainly a comfort, but I am eager to improve.
Since I have access to our financial records (including QuickBooks Online, budget details, and bank accounts), I’m keen to take the initiative. I maintain good rapport with my team and ask questions regularly, but before I seek additional responsibilities, I would appreciate any advice on how I can enhance my knowledge and skills independently. Thank you!
One response
It’s great to hear that you’re eager to improve your Accounting skills and further your career! Here are some tips that may help you strengthen your Accounting knowledge and confidence:
Online Courses and Certifications: Consider enrolling in online courses that focus on foundational Accounting principles. Websites like Coursera, edX, or Udemy offer courses in financial accounting, managerial accounting, and corporate finance. Certifications like the CPA (Certified Public Accountant) or CMA (Certified Management Accountant) can also enhance your credentials and knowledge.
Textbooks and Study Guides: Purchase or borrow accounting textbooks that cover the basics. Books like “Financial Accounting” by Jerry J. Weygandt, or “Accounting Principles” by Kimmel can help solidify your understanding. Look for study guides or resources that focus on problem-solving, as this will help you grasp the concepts better.
Networking and Mentorship: Continue building your relationship with your superiors and seek mentorship. They can provide insights into higher-level concepts and may be willing to mentor you one-on-one. You might also consider reaching out to other professionals in the field, either through LinkedIn or professional accounting organizations.
Hands-On Practice: Since you have access to your organization’s financials, try to take on small projects or create reports to analyze financial data. Practicing with real data can enhance your skills and give you practical experience.
Join a Study Group: If there are other accounting professionals or students in your area, consider forming a study group. Collaborating with peers can provide different perspectives and help clarify concepts you find challenging.
Stay Updated with Accounting Standards: Familiarize yourself with the latest accounting standards (GAAP, IFRS) and regulations that impact your organization. This will help you understand the context of discussions in your meetings.
Utilize Accounting Software: Become proficient in QuickBooks Online (or whatever software your organization uses) by exploring tutorials or guides. Familiarity with the software will make you more efficient and help you understand the financial processes.
Ask Specific Questions: When participating in meetings, take notes and ask specific questions about concepts you don’t understand. This shows your initiative and can help clarify points of confusion.
Set Learning Goals: Define specific skills or knowledge areas you want to improve and create a timeline for learning them. This could be as simple as mastering reconciliations or understanding budgeting processes.
Be Patient and Persistent: Remember that learning takes time, and it’s commendable that you’re taking steps to improve. Celebrate your progress, no matter how small, and keep pushing yourself to learn more.
By taking a proactive approach to learning and leveraging the resources available to you, you’ll build a stronger foundation in accounting and become more confident in your role. Good luck!