Do You Need to be Good at Math to Work in Accounting

A career in accounting offers the prospect of good earning potential, job stability, and plenty of job opportunities because it’s relevant to almost every industry. However, if (like most people) math isn’t exactly your favorite thing, you might think that you don’t have what it takes to succeed in this occupation.

The truth is that there’s more to working in accounting than math. You won’t need to do complex calculus, and software tools mean that there’s little manual number crunching. In this article, we’ll look at the skills you actually need to work in the modern accounting field and how studying at ICT will prepare you for an accounting career.

Is There More to Accounting Than Math?

While numbers play an integral part in accounting jobs, the work extends beyond mere calculations. A regular day often involves tasks like examining records, reviewing financial statements, and ensuring compliance with regulations.

The work also often involves interpreting, explaining, and simplifying complex financial data for clients and the public. While having competent math skills is important, it’s far from the only thing that matters.

Must-Have Skills for a Successful Accounting Career

Most accounting jobs focus on making financial data clearly make sense for clients and to the public. This means accountants need a set of skills beyond just working with numbers in an abstract way. Some of the important skills for a modern accounting professional include:

• Time management
• Critical thinking
• Data analysis
• Attention to detail
• Understanding tax law

 

Mastering these skills paves a path to rewarding accounting jobs. They work together to help accountants offer a high level of service. The good news is that programs exist to teach these skills thoroughly. Interactive College of Technology (ICT) is one such institution where you can prepare to enter the accounting field. ICT offers a shorter-term diploma program in accounting or a more comprehensive, 2-year Associate of Science Degree program. 

Different Types of Accounting Jobs

Getting an education in accounting can open up a wide variety of opportunities. Some of the specific roles you may fill in an account career include:

• Financial analysts – Involve deciphering financial data and forecasting the economic future of businesses.
• Financial advisors – Work with people to plan for their financial future, including investments, estate planning, and taxes.
• Budget analysts – Have a critical eye for managing organizational spending and help keep finances on track according to plans and goals.
• Auditors – Are tasked with examining financial statements. Auditors ensure accuracy and compliance with laws.
• Consultants – offer their expertise on specific financial matters, often providing strategic advice for business improvement.
• Internal auditors – Work tirelessly to prevent fraud and inefficiency, by carrying out a thorough review of an organization’s internal financial processes.

Do You Need a Four-Year Degree to Work in Accounting?

It’s not necessary to have a bachelor’s degree to begin working in the accounting field. The accounting diploma program at ICT offers hands-on training in accounting principles, office automation and business applications, and professional accounting software like QuickBooks Pro and Sage Accounting. Our accounting associate degree program covers all of those topics, plus cost accounting, federal tax procedures, and principles of entrepreneurship. Enroll in ICT’s Accounting and Professional Business Applications program today and start building a foundation for your future career. Contact us for more information.

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