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Developing Key Finance Skills for a Successful Career in Accounting and Finance

Meta Description: Learn the most important financial skills you need to succeed in your career in accounting and finance



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Just as a cake appears dull and unappealing without a luscious layer of icing, a resume lacks allure without the essential skill set that employers seek to fill a position. When applying for a finance position, including relevant financial skills on your resume is crucial. Each role in the finance industry demands specific skill sets, necessitating the customization of your resume. By incorporating both hard and soft skills into your resume, you can distinguish yourself from other candidates vying for the same position. This article delves into the definition of finance skills and provides insights into the various skill categories to consider when crafting your resume.

Defining finance skills

Finance skills are technical and soft skills essential for professionals in the finance industry, such as accountants, financial analysts, CFOs, underwriters, and finance managers. While specific skill requirements vary by profession, certain skills are universally necessary. These skills play a vital role in maintaining financial practices and ensuring business stability.

Common positions that necessitate financial skills on a resume include:

  • Accountants
  • CFOs
  • Underwriters
  • Financial analysts
  • Finance managers

Although each role demands different skills and experience levels, there are key skills that employers generally seek.

What are the important finance skills that you need to include in your resume?

  • · Accounting skills

Accounting positions require skills to record transactions, maintain records, and follow regulations. Common roles include accounting manager, business analyst, and general accountant. These skills are relevant to non-financial positions with accounting duties.

Why do you need accounting skills?

If you are a fresher, employers do not ask for proficiency in accounting rather you should be able to read and understand financial documents such as:

Ø Cash flow and income statements

Ø Balance sheets

Ø Annual reports

Employers value accounting skills due to their importance in tracking company performance, leading to competitive salaries. Research reveals that finance professionals with accounting skills can earn a median salary of USD 80,320.

  • · Decision-making skills

Decision-making is vital for aspiring leaders to succeed in their careers in accounting and finance. Understanding an organization’s goals, initiatives, and mission is important for business leaders, but finance plays a crucial role in positioning a company for success. Finance knowledge is beneficial for managers in any department.

| Click here to read more about CIMA® Career

Why do you need decision-making skills?

Evaluating the financial effect of a project is a common responsibility that is achieved by calculating its return on investment (ROI). Data-driven financial decision-making provides a clear framework for company leadership and enhances the elusive skill of intuition. Including finance expertise on your resume is invaluable.

  • · Analytical-thinking skills

Business leaders need expertise in analyzing and utilizing data, while employers need team members who can create financial statements. The process of studying important financial records to better understand a company’s performance is known as financial statement analysis. Analyzing financial statements and ratios helps evaluate a company’s performance. Key ratios include the current ratio (short-term payment ability), quick ratio (liquidity for short-term obligations), and debt-to-equity ratio (financial efficiency). These metrics provide valuable insights for informed decision-making.

Why do you need analytical thinking skills?

Analytical thinking has rapidly emerged as a sought-after skill in the finance job market. Many leading employers working for Fortune 500 companies prominently feature finance job listings that specifically emphasize the need for strong analytical thinking abilities.

  • · Management skills

Management skills in finance refer to the ability and competency necessary for effectively overseeing financial operations and making strategic decisions within an organization.

Why do you need management skills?

Employers in the finance sector consistently seek candidates with management skills and experience, as in other industries. These skills are essential for effectively overseeing personnel and managing the complex components of a company’s capital structure and reporting procedures. It’s important to note that these skills are not limited to mid and high-level managers alone. Top jobs requiring these skills are:

  • Financial managers
  • Financial and investment analysts
  • Financial risk specialists
  • General managers
  • Operations managers

| Read more on risk management in banks

  • · Communication skills

Effective communication is frequently disregarded, even though accounting and analysis skills are universally acknowledged as being essential for financial professionals.

Why do you need communication skills?

Strong communication skills are oral and written skills, including the ability to communicate financial information in meetings and create clear and succinct documents. Additionally, clear explanations of financial jargon are necessary for effective communication, which calls for financial literacy and a firm grasp of financial ideas and statements. Companies frequently give preference to applicants who can effectively translate sophisticated industry jargon to a wider audience because stakeholders and clients frequently come from non-financial backgrounds.

How can you develop finance skills?

It is clear that financial skills play a very important role for professionals seeking to work in the industry as well as for those who are looking forward to catapulting their accounting and finance careers. The best way to develop these contemporary skills is by earning accounting and finance certifications. These certifications will empower individuals by equipping them with the essential knowledge and skills required to excel in their respective fields. This comprehensive expertise not only amplifies their earning potential but also elevates their credibility and professionalism.

Final thoughts

Customizing your resume with both technical and soft skills sets you apart from other candidates and enhances your chances of success in the accounting and finance field. Develop and showcase these skills through finance certifications to unlock higher earning potential and establish yourself as a credible expert in your field.

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