Career success in accounting depends upon qualities that go beyond technical expertise, and the further you advance in the profession, the more important these qualities become. What exactly are these other qualities—the qualities that, when combined with technical competence, differentiate successful accountants from the accountants struggling to hold their own in the middle levels?
Motivation, dedication to the profession, clear thinking, a sense of responsibility to the people you work with or for, integrity, good judgment—these and others are crucial qualities for accountants seeking success. But having these qualities is not enough. You have to be able to demonstrate these qualities day after day on your job.
BE A TEAM PLAYER
Accounting firms or any corporations (of any size) put a high premium on company loyalty. The easiest and the most important way is to support your company policies. But there are other, subtler things that can demonstrate loyalty and pride: little things like being punctual and putting in a full day's work; being willing, when the need arises to work extra hours; and being pleasant and courteous to all the people you work with, from the receptionist to the head of the firm.
By the same token, you need to develop good working relationships with the people who work both for you and with you. It is important to treat everyone you come into contact with in your job, with respect—and this goes for the entry-level people in your firm as well.
One of the most difficult things about being a team player, not only in accounting, but in any job is getting along with a boss who may not be the easiest person to deal with. It is part of your job responsibility not only to get along with your supervisors, but to make their lives easier. One way to do this is to make up your mind to do more than follow orders. In other words, do your best to anticipate your boss's needs. You should know, for instance, the communication style your boss prefers: whether he or she likes you to spell things out in detail or simply give the rough outline of a project. You should be able to sense when your boss is under pressure and pitch in to ease the pressure. You should also know as much as you can about the person your boss reports to and the kinds of pressure this person puts on your boss. The better you can understand these stresses, the better you will be able to anticipate them. Whatever you can do to make your boss's life easier and to make your boss look better will generally enhance your own career progress.
The last aspect of being a team player is giving your company your undivided attention and best effort.
MOONLIGHTING: YES OR NO?
The same principle applies to moonlighting. For many, the temptation to pick up extra money on the side doing tax work, write-ups, and consulting is understandable, but many public accounting firms prohibit their employees from moonlighting as accountants and frown on moonlighting in general.
If you decide to moonlight, two words of caution: first, do not keep it from your company and, second, do not under any circumstances link the name of your employer to your private practice.
Giving all your attention to the job you currently hold does not always pay big dividends, but that is the risk you accept when you join an organization.
SEE THE TOTALITY OF YOUR JOB
The major problem accountants run into, is the inability to see past the numbers and relate these numbers to overall business. The only way to achieve the correct perspective is to broaden your business and intellectual horizons in any way you can. You should be educating yourself.
If you are in public accounting, you should make it your business to learn as much as you can about each client you work with: not just how much money it earns, but the history of the company, the products it sells, and the people who run the company. As a management accountant, you should be thoroughly familiar not only with your own company, but with the industry of which it is a part. What is more, even though the continuing education requirements are not as formalized as they are in public accounting, you should still continue to educate yourself in the state of the art.
KNOW WHERE THE POWER IS
Accounting is probably a little less political than other areas of business, but to say that as an accountant you do not have to concern yourself with company politics would be naive.
In some cases, you may find that getting ahead in your firm will be tied to your ability to emulate the style of top management. One of the best ways of gaining recognition is to take on those jobs that no one else wants to do—providing that you are doing them for the right person and it is the right kind of job.
Another way to gain recognition is to anticipate your firm's needs, which you can do by analyzing where your firm's weaknesses lie and by making it your business to develop strengths in these areas.
LEARN HOW TO MANAGE YOUR TIME
Time is in short supply for accountants, and few skills you develop in your professional career will have more bearing on your progress than your ability to manage your time efficiently.
Most successful accountants have their individual systems of managing their time. A written agenda can do wonders. The agenda should list all the tasks that you need to attend to that day, ranked according to priority. Not all of these tasks are going to be equally appealing, but try to resist the temptation of postponing the unpleasant ones.
Apart from planning your day in advance, you have to make sure that you have allotted enough time to handle each of the tasks you have set down. If it looks as if there is too much work for you to handle, do not be afraid to admit that you cannot handle the workload.
Finally, it is strongly recommended that you maintain a time log for at least one week. Record what you are working on and how long it is taking to do each phase of the task. Once you have completed a time log for at least five days, you are ready to evaluate how efficiently you have been managing your time.
Beyond this self-audit, there are specific steps you can follow to help manage your time more efficiently:
1. Establish and regularly reformulate priorities: This is a basic principle of time management, but it is a principle that is overlooked more often than most people realize. Choose whichever "system" of indicating priorities you wish, but make sure you refer to that list two or three times a day so that you can make any adjustments that may have become necessary in the course of the day.
2. Control the phone: Whenever you are involved in any task that requires sustained concentration, discipline yourself to answer those calls that require your immediate attention. To keep the phone under control, either have your secretary hold all calls or go someplace where the phone will not ring.
3. Keep your work area organized: Get into the habit of straightening your desk two or three times a day. You would be amazed at how much time you will save by not having to look for papers and documents hidden somewhere under the mass of other papers and documents.
ASKING FOR A RAISE
When it comes to asking for a raise, accountants like other business professionals, are not especially comfortable with the idea of asking their companies for more money. Here are some of the points to keep in mind when you decide to seek a raise:
1. Prepare a strong case: Before going into any salary discussion, make sure you have prepared a case that argues strongly for your raise request. The case should be built around your accomplishments in the company and not your personal financial needs.
2. Know what you are worth: Knowing how much the competition—and your own company—pays accountants with experience, ability, and seniority similar to yours should give you a rough idea of how much you are worth to your company and serve as the basis of your negotiations.
3. Know when to ask: The best time to seek a salary increase is shortly after you have successfully completed an important project that has benefited the company. The worst time to seek a salary increase, on the other hand, is when the company is going through a difficult time.
4. Be flexible: You should always go into a salary discussion with two figures in mind: (1) what you'd like, and (2) what you will settle for. Regardless of how justified you feel your request to be, never hand down an ultimatum.
HANDLING STRESS
Stress is inherent in most occupations and accounting is certainly no exception. Nearly everything accountants do embodies a deadline of one kind or another: from a corporate client, from the government, from a supervisor.
Stress, in small degrees, can make you a better accountant. However, too much stress can lead to burnout. In order to prevent burnout, make sure you are structuring tasks efficiently and allowing yourself adequate rest on a daily basis and on a larger scale, take breaks/vacations as needed.
KEEPING A PERSONNEL FILE
Whatever your specialty, keep your own personnel file. The file should highlight your accomplishments. Such a file will serve you when the time comes for a salary review— you are in a position to present a strong case on your behalf. The file also becomes invaluable should you decide to leave the firm. Your resume will be much easier to put together and you will have strong and complete facts to present to potential employers.
FINAL THOUGHTS
Doing your job well is not enough to assure you of rapid progress in your firm. Equally important is making sure that management perceives you as a valuable member of the company.
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