Accounting, or accounts management is a key function of almost every business. While it is not always easy, it is an exciting job. A bookkeeper, accountant, or accounts assistant can manage accounts for a small firm. On the other hand, large companies have finance departments with many employees, such as accountants, financial managers, etc. Reports generated by different streams of accounting (cost accounting, managerial accounting, etc.) are invaluable in assisting management in making decisions about business operations.
Accounting involves measuring, analysing, and distributing financial and other data about a business or corporation by the accountant or accounts assistant. Financial statements summarise the financial position, operations, and cash flow of a large company over a period of time. These statements are concise, consolidated, and based on thousands of separate financial transactions. As a result, every professional accounting designation results from years of research, rigorous examinations, and at least a few years of practical accounting experience, along with an elaborate accountancy course. You also need rigorous training in accounting.
In this article, we’re going to cover the two most important aspects of accounting from a business viewpoint:
1. Upskilling is a way for an accountant to develop their existing abilities in order to move up in their career. For example, a financial analyst may be able to gain new SQL skills to be better able to access data from databases.
2. Reskilling is a process in which an employee is taught new skills to help them move into a new role within the company, for example an accountant doing soft skills courses, as they are becoming increasingly crucial for people in accounting to develop their accounting careers.
Check our blog on “How to Improve your Accounting skills or Account Ability?”
The terms “upskilling” and “reskilling” are often used interchangeably; however, there are significant distinctions between the two. Upskilling allows accountants to develop their professional skills and advance their careers through the acquisition of skills. On the other hand, reskilling is a career transition that typically involves the acquisition of new skills outside of the existing ones.
The benefits of reskilling and upskilling –
Well, one is versatility. The other is specialisation. You will need both if you want to be successful in your accounting career or any field of your choice. In fact, almost all business leaders expect their employees to learn new skills on the job, same is the case with accountancy too. The reskilling and upskilling can be achieved through various courses of Guardian Training.
Check out our courses on accounting training
Upskilling & reskilling also help the accountant to become more agile. This means that they will be able to react faster to external changes because they know how to use the right skills for the job, or else they will eventually hit a point where they can’t function properly and give optimum results.
On the company or business side, there should be a career path at your company. People don’t just stay in their jobs forever. They learn with the organization and same is the case with accounting too so the need for reskilling and upskilling courses in accountancy increases even more.
We strive to provide ready-to-learn, scalable courses that are essential to being able to upskill and reskill yourself and your employees in accounting in order to become a more agile, valuable, and future-proof business.Needless to say, accountancy is a valuable subject for learning and a good career option but choosing the right course among the many accounting courses in London is the real challenge. Feel free to book an appointment with our professional and experienced accountants.
