What are accounting skills?

Accountants require both hard and soft skills to succeed in their role. Hard skills refer to specific job-related knowledge, while soft skills encompass personal attributes not directly related to the position. When hiring an accountant, consider candidates with strong time management, attention to detail, organizational skills and effective interpersonal skills.

Accountants acquire the majority of their hard skills through education. However, some soft skills are developed through experience. To become an accountant, individuals attend an accredited college or university and earn a degree in accounting.

Some accountants may pursue additional skills through graduate school or take the Certified Public Accountant (CPA) exam. CPAs are required to maintain continuing professional education (CPE) credits to keep their license active.

“As an employer, I always look beyond just certifications. A great accountant can help identify patterns, guide financial strategy and protect the business from costly missteps. Their role isn’t just about crunching numbers. It’s about being a financial partner who helps your business grow sustainably.”

—Ashlee Malet, MBA in accounting

Key accounting skills

When hiring an accountant, employers consider candidates with a mix of accounting-specific skills as well as general hard skills and soft skills.

Here are some specific skills to keep in mind when hiring:

Accounting-specific skills

Accountants require several skills that are specific to the field of accounting and the type of business they work for. The specific accounting skills required for any given position depend on the company’s needs, such as:

• Performing audits
• Reconciling accounts
• Applying accounting principles
• Managing accounts payable (AP) and accounts receivable (AR)
• Creating, generating and analyzing aging reports and budgets
• Calculating taxes or interest
• Understanding and following tax laws
• Forecasting

Hard skills for accountants

Hard skills are directly related to the job and can be learned either on the job or through accounting-specific experience. Examples of accounting-specific hard skills could include:

• Competency with numbers
• Corporate finance
• General business knowledge
• Research
• Management
• Data entry
• Data analysis
• Problem solving and critical thinking
• Knowledge of Generally Accepted Accounting Principles (GAAP) and financial reporting standards
• Computer and accounting software proficiency, such as QuickBooks, Xero, Oracle NetSuite or SAP

Soft skills for accountants

Soft skills typically focus more on an employee’s interactions with others. Key skills might include:

• Clear written and verbal communication
• Attention to detail
• Confidentiality
• Strong time management
• Accuracy
• Organization
• Planning skills
• Active listening
• Ability to self-motivate
• Analytical thinking
• Flexibility and adaptability
• Teamwork
• Ethical conduct

Key accounting duties, roles and responsibilities

Accountants are responsible for managing and evaluating a variety of financial information. The specific roles, responsibilities and duties of an accountant can vary depending on the industry in which they work, the size of the company and the type of accounting they’re performing.

Here are some of the most common duties and responsibilities of an accountant:

• Prepare and manage tax returns
• Prepare financial documents, such as income statements and balance sheets
• Work with auditors both within and outside the company to ensure legal compliance
• Make sure all bookkeeping is accurate and adheres to state and federal law
• Create budgets or advise the company on creating budgets
• Properly store and manage financial data
• Regularly review bookkeeping for accuracy
• Review and update accounting processes and procedures as needed
• Make financial recommendations
• Manage or work on an accounting team
• Maintain confidential and secure storage of important financial information
• Create financial forecasts
• Communicate with clients and in-house collaborators

Types of accountants

Accountants can work in a variety of settings. The skills an accountant needs to perform their job well can depend on the type of accounting the role requires. Here are the most common types of accountants and the environments in which they work:

• Public: Public accountants work for an accounting firm and take on clients, which can be individuals or companies.
• Private: Private accountants work in-house for a single company or corporation.
• Fiduciary: Fiduciary accountants work for a trust or estate.
• Governmental: Governmental accountants work for government agencies, such as the Internal Revenue Service. They can work for government organizations on every level, including local, state and federal.
• Forensic: Forensic accountants prepare financial information for litigation.
• Management: Management accountants collaborate with senior executives to inform business decisions and support budgeting.

Accountants vs. certified public accountants

When hiring an accountant, it’s important to decide whether you need an accountant or a CPA. Here are the key differences between the two roles:

• Accountants are trained professionals who handle a company’s financial information. They may work in-house for a company or for an accounting firm that takes on outside clients. The roles of accountants often include financial analysis, ensuring the company handles its finances legally and managing tax forms and documents properly.
• Certified Public Accountants, or CPAs, are a type of accountant, but not all accountants are CPAs. This designation requires the person to meet stringent educational licensing requirements. It also requires an exam. While not every business requires a CPA, you may need one if your company is required to conduct a financial statement audit or file reports with the Securities and Exchange Commission (SEC).

How to hire an accountant

If you decide to hire an accountant for your company, the following steps can be helpful:

1. Establishing your hiring budget and how much you can offer in terms of compensation and benefits.
2. Identify any company-specific accounting needs to help narrow down what key skills your accountant needs to perform their duties effectively.
3. Choose the type of accountant you want to hire, based on your budget and business needs. For example, if your budget is too small for a CPA, you can consider a regular accountant.
4. List your desired criteria for the ideal candidate, including preferred education, certifications, skills and experience.
5. Create a detailed job description for the vacancy.
6. Post the job listing and promote it across multiple channels to attract applicants.
7. Review applications to identify which candidates have the skills and experience you are looking for.
8. Prepare standard accounting interview questions that allow you to evaluate accounting skills.
9. Evaluate how well each interviewee matches your preferred qualifications to narrow down your choices.

FAQs about accounting skills

Which accounting skills are important to look for on an applicant’s resume?

The specific skills you’re looking for depend primarily on the accountant duties you need the candidate to fulfill. Accounting applicants may list their skills in several ways on their resumes. Some applicants may list their skills as bullet points in a dedicated skills section of their resume, while others might list them in the work experience section or describe them in the objective.

Prioritize skills such as math fluency, excellent communication, attention to detail, organization and leadership. If your company has specific accounting needs, look for candidates with experience in those areas.

What are management accounting skills?

Management accounting involves working with a team of high-level executives to make business decisions, often regarding investments. In addition to the core math and analysis skills necessary for all accountants, management accountants also require skills in communication, creating presentations and public speaking.

How can an employer support their accountant’s skill development?

Accountants can gain accounting skills through formal education and experience. If your accountant is a CPA, they could earn a degree in a specialized area of accounting that would benefit your business.

CPAs are required to complete continuing education, which can enhance their skills or allow them to explore specific accounting topics. Short-term professional development opportunities can also develop your accountant’s skill set without the time and financial constraints of traditional schooling.

What is technical accounting?

Technical accounting involves performing basic accounting practices under the supervision of a senior accountant. Technical accountants are often new to the profession and beginning to hone their accounting skills. Many technical accountants go on to hold senior accountant positions. Technical accountants work in a variety of work settings.