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In the accounting profession, there’s a wide gap when it comes to having practical and hands-on experience, and this gap is increasing daily. To excel as an accountant, there’s a high level of knowledge that is required. If you lack this knowledge, it becomes challenging especially if you are a chartered accountant without a paid job. The most common challenges can also arise during interviews. Here, you’re expected to have good and practical knowledge in different areas of accounting. Also, with the high unemployment rate in the country, it has become difficult to close these gaps. And, most times, even when you get the job, there is little or no exposure to open certain areas of accounting. As a chartered accountant with years of experience, here are some things that can help accountants in such challenging situations: 1.) Management can ensure that they rotate staff within the department to enable them to work in different roles. This will greatly increase their exposure on the job. 2.) Training should be done at least once or twice a year to help staff focus on areas that need improvement. This will greatly impact on performance of the staff. 3.) The world has gone global, everything we need is online. Every knowledge we seek is online. Before you get to areas that will need a one-on-one mentorship make the moves with seasoned consultants, and put in the effort. 4.) Engage in personal development activities. Write out areas you need to gain knowledge on every year. 5.) Belong to communities where you can learn from others. More like a peer-to-peer community. 6.) Be ready to part with your funds when you seek knowledge, not everything can be gotten for free. Some knowledge you seek must be paid for. Seek someone to walk you through that path. It’s easier to have someone walk through that path with you because it might take a longer time for you to get there alone. One of the things I want to achieve in the long term is helping accounting professionals to bridge that knowledge gap. I have loads of experiences that can’t be fully written today, both good and bad. I understand it can be difficult at times because of these high expectations. But again, we must do all we can to manage the challenges to improve ourselves. I have created a community where I share my knowledge of accounting topics to help other accountants grow in their careers and add value to their organisation. Check the comment section and click on the link if you will be interested in joining. #bridgingthegap #CFO #Accountants #financialanalyst #dataanalyst

For far too long, the accounting sector has grappled with a significant brain drain to the allure of the finance industry. Fresh graduates often found themselves torn between pursuing careers in banking or opting for roles in audit firms. And let's face it, the substantial disparity in starting salaries made the decision quite clear for many. But today, I'm thrilled to share a game-changing update that signals a shift in this trend. According to recent reports from Business Times, industry giants like Deloitte and KPMG Singapore are stepping up to the plate by increasing starting salaries for certain accounting roles. This move not only acknowledges the invaluable talent pool within the accounting sector but also underscores the importance of retaining and attracting top-tier professionals. It's a testament to the industry's commitment to fostering growth, innovation, and excellence. As someone deeply passionate about the accounting field, I wholeheartedly welcome this change. It not only levels the playing field but also reaffirms the significance of accounting roles in driving business success. With enhanced starting salaries, fresh graduates now have a more compelling reason to explore the exciting opportunities that the accounting industry has to offer. To all aspiring accountants out there, this is your moment! Embrace the journey, seize the opportunities, and let's collectively shape the future of the accounting profession. #AccountingIndustry #CareerGrowth #ProfessionalDevelopment #FutureOfWork #BusinessNews https://lnkd.in/gJWY5Xgf

Curious about a career in accounting but uncertain about which qualification suits you best? Our blog post breaks down each accounting qualification. https://loom.ly/Hn3pf8A Find our current vacancies here: https://loom.ly/g7GSHRY #AccountingCareer #Qualifications #Guide #CareerPath

[💻 Graduate Program] Do you want your junior accountants to be as equipped and ready for the workplace as possible? Want to support their success so they can become great accountants?   Our Superstar Graduate Program can help! ➡️  http://bit.ly/3Xln8dI    Led by senior accountant and industry expert, Allyson Pannier, let your graduates hit the ground running in their new career with a comprehensive, carefully designed program to support their learning.   After completing our 11 modules that cover both soft skills and accounting processes and theories, your junior accountants will have the tools they need for workplace readiness. Modules that will be covered in the program include:  ✔️ Module 1: What is a Superstar Graduate? ✔️ Module 2: Personal Organisation and Effectiveness ✔️ Module 3: How an Accounting Practice Works ✔️ Module 4: Accounting Theory Basics ✔️ Module 5: All About Structures ✔️ Module 6: Workpapers ✔️ Module 7: We need to talk about the Balance Sheet (because it’s really important) ✔️ Module 8: Now Let’s Talk About The Profit & Loss ✔️ Module 9: How to Analyse and Add Value to Accounts ✔️ Module 10: Excel Basics ✔️ Module 11: That's a Wrap!   Invest in your graduates from day one and register them for a program that will transform their professional development and create a superstar employee ⭐ Find out more or get the program here ➡️ http://bit.ly/3Xln8dI #AdvisersDigest #accountants #PeterJohnson #graduates #earlycareerprofessionals #accountingfundamentals #selfmotivatedteam #clientservice #workpapers #balancesheet #profitandloss #excel

[💻 Graduate Program] Do you want your junior accountants to be as equipped and ready for the workplace as possible? Want to support their success so they can become great accountants? Our Superstar Graduate Program can help! ➡️  http://bit.ly/3Xln8dI    Led by senior accountant and industry expert, Allyson Pannier, let your graduates hit the ground running in their new career with a comprehensive, carefully designed program to support their learning.   After completing our 11 modules that cover both soft skills and accounting processes and theories, your junior accountants will have the tools they need for workplace readiness. Modules that will be covered in the program include:  ✔️ Module 1: What is a Superstar Graduate? ✔️ Module 2: Personal Organisation and Effectiveness ✔️ Module 3: How an Accounting Practice Works ✔️ Module 4: Accounting Theory Basics ✔️ Module 5: All About Structures ✔️ Module 6: Workpapers ✔️ Module 7: We need to talk about the Balance Sheet (because it’s really important) ✔️ Module 8: Now Let’s Talk About The Profit & Loss ✔️ Module 9: How to Analyse and Add Value to Accounts ✔️ Module 10: Excel Basics ✔️ Module 11: That's a Wrap!   Invest in your graduates from day one and register them for a program that will transform their professional development and create a superstar employee ⭐ Find out more or get the program here ➡️ http://bit.ly/3Xln8dI #AdvisersDigest #accountants #PeterJohnson #graduates #earlycareerprofessionals #accountingfundamentals #selfmotivatedteam #clientservice #workpapers #balancesheet #profitandloss #excel

Curious about a career in accounting but uncertain about which qualification suits you best? Our blog post breaks down each accounting qualification. https://loom.ly/Hn3pf8A Find our current vacancies here: https://loom.ly/g7GSHRY #AccountingCareer #Qualifications #Guide #CareerPath

A number of my friends have been asking how one becomes an accomplished accountant. It demands unwavering dedication, resilience, and an unyielding commitment to lifelong learning. The below has helped craft my accountancy journey. I hope it motivates you to embrace this noble career. 1. Lay the Foundation: - Pursue a degree in accounting or a related discipline from a reputable institution, ensuring a solid educational grounding. - Immerse yourself in courses encompassing the core tenets of accounting, finance, taxation, and business law to establish a robust knowledge base. - Consider augmenting your credentials with coveted certifications such as CPA (Certified Public Accountant) or ACCA (Association of Chartered Certified Accountants) to bolster your expertise. 2. Gain Practical Insights: - Seek out internships or entry-level roles at esteemed accounting firms, corporations, or governmental entities to gain invaluable practical experience. - Translate theoretical knowledge into tangible skills by tackling real-world scenarios, honing your abilities in financial analysis, auditing, and tax preparation. - Embrace challenging assignments and projects as opportunities for growth, showcasing your aptitude and eagerness to expand your repertoire. 3. Master Technical Proficiency: - Familiarize yourself with cutting-edge accounting software platforms such as QuickBooks, Excel, and SAP to streamline your workflow and enhance efficiency. - Stay abreast of evolving industry trends, regulatory frameworks, and accounting standards to ensure meticulous compliance and precision in financial reporting. - Actively participate in workshops, seminars, and webinars to refine your technical acumen, remaining at the vanguard of innovation and expertise. 4. Cultivate Soft Skills: - Cultivate polished communication skills to articulate intricate financial concepts cogently and persuasively to clients, colleagues, and stakeholders. - Foster adept interpersonal abilities, fostering collaborative relationships and fostering a cohesive team environment conducive to productivity and success. - Prioritize adaptability and emotional intelligence, navigating complex professional landscapes with grace and resilience. #acccounting #lestconnect

Check out our latest blog post that provides essential strategies and considerations to help new graduates excel in their accounting careers; covering topics such as education, networking, gaining practical experience, continuous learning, and setting career goals. 👉 https://lnkd.in/edtZcr7d #accounting #careeraftercollege #postcollege

Malaysia is also currently facing a tremendous shortage of accountants. Graduates would rather work in the accountancy sector overseas where the pay is higher. Or work in other sectors where the work-life balance is supposedly better. As a practitioner with an audit practice, I have noticed over the past five years that there is less and less interest from Gen Z’ers to train as an accountant. Add to this phenomenon the proposed increase in the Audit Exemption threshold, there will be a significant reduction in training positions within audit and accounting firms. A decline in new entrants plus less available jobs for entrants means that it is quite likely that Malaysia would face a skills gap that would take many years to overcome.

Hey Fb.Here are some benefits of practical account experience or hands-on experience for graduate accountants as they start searching for jobs: 1. Skill development: Practical account experience allows graduates to enhance their skills and apply theoretical knowledge in real-world scenarios. They get hands-on experience in various accounting tasks such as preparing financial statements, analyzing data, and managing accounts, which strengthens their technical competencies. 2. Industry exposure: Practical experience provides graduates with valuable industry exposure. They get to work with professionals in the field, understand the dynamics of the industry, and learn about current accounting practices and regulations. This exposure helps them align their skills with industry expectations and stay updated with the latest trends. 3. Problem-solving abilities: Through practical account experience, graduates are exposed to various challenges and problems faced in the accounting field. This helps them develop critical thinking and problem-solving skills, enabling them to navigate complex financial situations and make informed decisions. 4. Networking opportunities: While gaining practical experience, graduates have the opportunity to build professional networks. They can connect with experienced professionals, mentors, and potential employers. Networking can open doors to job opportunities, recommendations, and valuable advice from industry experts. 5. Demonstrates initiative: Having practical account experience on their resume showcases that graduates have taken the initiative to gain real-world exposure and practical skills. Employers value candidates who have gone beyond theoretical knowledge and have shown motivation to apply their learning in practical settings. 6. Improved job prospects: Graduates with practical account experience have a competitive edge in the job market. Employers often prioritize candidates with hands-on experience, as it demonstrates their ability to handle job responsibilities efficiently and reduces the need for extensive training. 7. Soft skills development: Practical account experience also offers opportunities for graduates to enhance their soft skills such as communication, teamwork, time management, and problem-solving. These skills are highly valued in the workplace and help graduates excel in their careers. By providing practical account experience and focusing on soft skills development, SirCharles Online School can significantly enhance the employability of graduates and equip them with the necessary skills to succeed in the accounting field. Please note that the availability of vacancies may vary, so it is recommended for graduates to check the availability and apply promptly.