Accounting offers strong career potential, but success depends on the skills you build early on.
Key Takeaways:
- Accounting is one of the most in-demand careers in the Philippines, with JobStreet reporting that it accounts for 12% of total job listings this year.
Aspiring accountants need strong analytical, technical, and soft skills to thrive in today’s digital and competitive field. - OEd’s BS Accountancy program builds essential, job-ready competencies through flexible and technology-driven learning.
Choosing a college course is more than an academic decision. It shapes the opportunities you can access in the future and the kind of stability you can build for yourself and your family.
For many students, accounting stands out for its strong career potential across industries in the Philippines and abroad. As you explore this path, it helps to understand the core skills of an accountant, especially if you want to thrive in the field and stand out in a competitive job market.
If you are planning to take a Bachelor of Science in Accountancy, this guide will walk you through what it takes to build the essential skills and prepare for real workplace demands.
Why Accountant Competencies Matter
Accounting is one of the most in-demand careers in the Philippines. Every business and government office depends on accountants to manage funds, ensure compliance, and guide financial decisions. This makes the profession not just important, but stable and respected.
Data from JobStreet by Seek revealed that accounting was the most in-demand job specialization in the country this year, accounting for about 12% of total listings on one of the Philippines’ employment platforms.
Accountants today are expected to be analytical thinkers, problem solvers, and strong communicators, not just number crunchers.
This shift shows why mastering key competencies is important. Understanding the skills of an accountant can help students prepare early and succeed in internships, job applications, and future licensure exams.
What Skills Do You Need as an Accountant
You need a combination of core, technical, and soft skills to help accounting professionals grow across industries. Below are the key competencies you should focus on:
Core Skills of an Accountant
1. Analytical Thinking
Accountants must analyze large amounts of financial data and identify patterns, risks, and solutions. Harvard reported that analytical thinking is one of the most essential competencies for future finance professionals.
Through OEd’s Bachelor of Science in Accountancy, students strengthen their ability to review financial statements, interpret data, and provide insights that help businesses make informed decisions.
2. Attention to Detail
Accounting work often involves reviewing transactions, preparing reports, and tracking expenses. A small error can lead to significant financial discrepancies. Training yourself to be precise and thorough will boost your credibility in the field and is one of the most valued skills of an accountant.
3. Ethical Judgment
Accountants handle sensitive financial information. Strong ethical standards ensure integrity and transparency, especially in auditing and compliance. Ethical judgment is consistently identified as a key competency by global accounting bodies.
Technical Skills for Accountants
Technical abilities are crucial if you want to build an impressive resume. Employers look for applicants who know how to use modern tools and apply advanced financial concepts.
1. Knowledge of Accounting Systems
Proficiency in tools such as QuickBooks, SAP, and Microsoft Excel enables accountants to work efficiently. The increasing adoption of digital systems makes technology one of the must-have technical skills for accountant roles.
OEd’s flexible learning environment helps students learn at their own pace, especially those balancing school with work or family responsibilities.
2. Financial Reporting and Auditing
Understanding Philippine Financial Reporting Standards (PFRS), auditing principles, and tax regulations is part of the foundation of accountancy. These skills prepare students for diverse roles in private companies, government, and financial institutions.
3. Data Literacy
As more companies adopt digital tools, accountants who can interpret data and use analytics software gain a competitive edge. This is one of the technical skills for accounting students that will matter more in the coming years, especially as the job market becomes more tech-driven.
Soft Skills That Strengthen Your Accountant Skills Resume
While technical skills matter, soft skills help accountants communicate effectively and work well with different teams. These skills are often what help new graduates secure internships or entry-level accounting roles.
1. Communication Skills
Accountants regularly explain financial concepts to people who may not be familiar with accounting. The ability to break down information concisely is important when presenting reports or working with clients.
2. Time Management
Accounting roles often involve deadlines, especially during tax season or audit periods. Learning how to plan your tasks and manage your schedule will help you stay productive and less stressed.
3. Problem Solving
Accountants must identify issues such as budget discrepancies, compliance risks, and operational inefficiencies. Strong problem-solving skills allow you to recommend solutions and help organizations work more effectively.
Other Important Skills of an Accountant
Beyond the core and soft skills, there are additional competencies that can help you stand out. These also help answer the question of what the skills of an accountant are that can set you apart in a competitive work environment:
1. Adaptability
The accounting field continues to evolve with new technologies, regulations, and industry demands. Students who learn to adapt quickly will stay relevant throughout their careers.
2. Collaboration
Though accounting may seem like a solo job, many tasks require working with managers, auditors, and other departments. Collaborative skills make you a more effective team member and ensure smoother workflows.
3. Strategic Thinking
Many modern accountants now contribute to business planning and long-term financial strategies. This competency is highly valued in senior positions, including those of controller, finance manager, and chief financial officer.
Tips to Strengthen Your Accounting Skills
Whether you are an incoming college student or a working professional planning a career change to accounting, you can build these skills through consistent effort and the right academic program. Here are a few tips:
- Practice Regularly: The more you work on financial statements, exercises, and case studies, the easier it becomes. OEd’s flexible learning setup is designed to help students practice independently while receiving guidance from instructors.
- Take Advantage of Technology: Explore accounting software early so you can include these competencies in your accountant skills resume. Many online university courses encourage students to familiarize themselves with tools used in real workplaces.
- Seek Feedback: Whether through professors, mentors, or peers, feedback helps identify areas you can improve. This is especially helpful for developing communication and analytical skills.
- Continue Learning: The best accountants commit to ongoing learning. Through online university courses, you can explore specializations and certifications that strengthen your expertise and enhance your job prospects.
Build Your Accounting Career at OEd
Accounting is a stable and rewarding profession with opportunities in corporate, government, and global industries. With consistent practice and the right academic foundation, you can become a confident and competent accounting professional.
Before choosing your course, it may help to explore why studying accountancy remains a strong path for Filipino students today.
If you dream of becoming an accountant or want to change careers to accounting, OEd offers flexible education that lets you study at your own pace and earn a degree no matter where you are.
Start building your future today. Enroll in OEd and gain the essential skills to empower your career in accounting.
Frequently Asked Questions (FAQs) About Essential Skills of an Accountant
1. What subjects will I take in a Bachelor of Science in Accountancy program?
Most BSA programs include financial accounting, auditing, taxation, cost accounting, business law, management advisory services, and accounting information systems. These subjects build both technical knowledge and analytical thinking.
2. Do I need to be naturally good at math to succeed in accountancy?
You don’t need advanced math skills; basic arithmetic and logical thinking are enough. Accounting focuses more on analysis, accuracy, and understanding financial systems rather than solving complex equations.
3. What career opportunities can I pursue after graduating with a BSA?
Graduates can explore roles such as auditor, tax associate, financial analyst, management accountant, accounting assistant, payroll specialist, and eventually leadership roles like finance manager or CFO.
4. Can I take accounting even if I’m working or managing family responsibilities?
Yes. Many universities like OEd offer flexible programs that let you study at your own pace. This setup is ideal for working professionals, parents, or individuals transitioning to a new career.