They say what goes up must come down.
And for accountants looking for new job opportunities, it all boils down to this…
The higher you aim, the more important it becomes to justify your place in that elevated position. And that day of reckoning is most likely to arrive during a job interview.
We’ve noticed an increasing trend in the industry lately: more and more candidates are entering interviews without fully grasping the fundamentals of the role.
As surprising as it might sound, even those at the Semi Senior level are sometimes caught off guard by basic technical questions that they should’ve covered in their recent training.
The result?
Awkward answers, stalled careers and missed opportunities that could’ve been easily avoided.
So, if you’re an accountant who’s looking for a pay rise and to climb the career ladder, here’s the technical skills that you need and why firms demand them.
Bluffing it won’t cut it
The days of “blagging it” during an interview are over.
Hiring managers can spot it almost immediately.
Instead, it’s essential that accountants actively seeking new job opportunities do their homework and ensure they know the fundamentals of the role they’re applying for.
If you’re going for a bigger job, promotion or pay rise, you need to know your stuff. And one of the only ways you can demonstrate that knowledge is to brush up on your technical skills.
Firms across public practice are digging deeper into candidates’ knowledge and expertise, asking more technical questions to ensure they’re getting the right person for the job.
Hiring managers aren’t just looking for someone who can talk the talk; they want someone who can walk the walk. That means you need to be prepared to dive into the nitty-gritty details of your experience, whether it’s complex financial statements, the latest tax regulations, or advanced software skills.
If you can’t demonstrate your technical competence, why should they trust you with a bigger role or a higher salary? It’s a valid question and something that candidates should constantly remind themselves of when preparing for an interview.
If you’re hoping to progress in your career, you need to be honest with yourself about your areas of weakness. We all have them, and that’s okay—what’s not is ignoring them.
Before your next interview, take the time to review the technical aspects of the job you’re aiming for.
Whether it’s polishing your awareness of GAAP principles, mastering new software, or revisiting taxation rules, make sure you’re well-positioned to tackle whatever questions come your way.
Are you considering a career move within public practice? Here’s why you should move to a smaller firm.
From Semi Senior to Senior – climbing the ladder
Okay, Semi Seniors, we’ll cut you a bit of slack.
Accountants at the beginning of their practice career won’t have as much interview experience as a Partner, Manager or even a Senior.
While that may be the reason why a lot of Semi Seniors aren’t prepared for technical questions, it’s not an excuse.
So, to help you prepare for that next big interview and ensure you’re ready to impress, here’s a list of essential technical skills that you should be able to demonstrate confidently:
Advanced Microsoft Office Proficiency
Excel isn’t just for basic data entry. You need to be skilled in complex formulas, pivot tables, VLOOKUPs, HLOOKUPs, and data analysis tools.
Employers expect you to use the full Microsoft Office suite as a powerful analytical tool, not just a spreadsheet.
Financial Statement Analysis
Understanding financial statements—income statements, balance sheets, and cash flow statements—is fundamental.
You should be able to analyse these documents, identify key trends, and provide insights based on the data.
GAAP and IFRS Knowledge
Depending on where you’re applying, a deep understanding of Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) is crucial.
These frameworks guide financial reporting, and being well-versed in them is essential.
Taxation Knowledge
This includes understanding current tax laws, regulations, and how they apply to various entities.
Being able to navigate tax planning, compliance, and strategies is a significant advantage.
Auditing Skills
Whether you’re aiming for a role in audit or not, having a solid understanding of auditing processes, including internal controls and risk management, is important.
This knowledge shows you can assess and improve the financial integrity of an organisation.
Accounting Software Proficiency
Be familiar with industry-standard software like QuickBooks, Sage, SAP, or Oracle.
Being proficient in these tools shows you can efficiently manage financial data and reporting processes.
Data Analysis and Visualization
The ability to analyse large datasets and present findings in a clear, visual format (using tools like Power BI or Tableau) is increasingly valuable.
Employers are looking for accountants who can turn numbers into actionable insights.
Budgeting and Forecasting
Understanding how to create, manage, and adjust budgets is key.
You should also be able to forecast financial performance, considering various factors that could impact results.
Problem-Solving and Critical Thinking
Beyond just crunching numbers, you need to demonstrate strong problem-solving skills.
Whether it’s identifying a discrepancy in the books or optimising financial processes, critical thinking is essential.
Some general tips:
- Self-Assessment: Identify areas where you’re weakest and focus your study efforts there
- Practical Application: Use real-world scenarios to apply your knowledge, whether through practice cases or simulations
- Stay Updated: Keep up with the latest trends, regulations, and software in the accounting field
- Mock Interviews: Practice answering technical questions with a colleague or mentor to build confidence
“The market is shifting, and so are the expectations of employers. Don’t let a lack of preparation be the reason you miss out on the job you want, the promotion you’ve earned, or the pay rise you deserve. Make a commitment to yourself to stay ahead of the curve. In public practice’s competitive job market, you need to know your stuff to grow your worth. ” – Garry Howling, Managing Director of Public Practice Recruitment Ltd
And remember, your career trajectory is in your hands. Don’t let a technical question be the thing that brings it crashing down.
Are you an accountant looking for a new role within public practice? Need help preparing for interview to help you secure the best opportunities out there?
Here at Public Practice Recruitment Ltd, we work closely with candidates across the UK to help them find the right role for them. Our exclusive market knowledge means we can spot trends within the sector and advise our candidates on best interview practices.
Ready to accelerate your job search?
Get in touch with our team today!
