Good Communication and Leadership Skills †MyAssignmenthelp.com

Question: Discuss about the Good Communication and Leadership Skills. Answer: Introduction: After studying the unit, one thing that comes to my mind whenever I think of accounting profession is that it play a vital role in the success of any organisation. Now a days accountants have become a very important factor in maintaining the overall performance of the business. Having accounting knowledge will open a lot of job opportunities for the students. The profession includes making of final accounts, ledgers, journals and trial balance. It also comprises of converting the business data into a useful information for the creditors, investors, management and others. Apart from all this, being an accountant and having specialised knowledge of accounts, one can also opt for teaching profession that is teaching accounts to college students as an accounting professor (Bebbington, et al. 2014). Now, not only one or two contextual factors affect the accounting profession, but a variety of factors can affect it and that are economy, accounting regulations, development of technology, politics, globalization trend, ethics followed by accountants and the market forces such as demand and supply. There are several factors in internal and external environment which also affects the profession. The Australian accounting companies should flow the standards set by AASB, ASIC and IFRS. It will help in maintaining the uniformity in recording and presenting the financial statements (AICPA, 2017). As an accountant, I look forward to interact with the top management to provide them the information about the true financial position of the company. It includes directors and senior managers. Also I would like to communicate with the auditors, fellow employees, officers who works in legal department, investors and creditors to give them the information about the evaluated financial data. Expectations in regard with interacting people has not changed dramatically but now while conducting a business I would like to talk with clients because many accounting task are been done on the basis of particular clients and according to their requirements. My contribution to the community, as an accountant will be providing them the correct and accurate information related to the financial position and performance of the company so that users of this data can make appropriate decisions regarding the company. Providing relevant financial data brings transparency in the whole process. The role of an accountant has become technically demanding such as compliance with industry standards, adopting the international standards of accounting and so on. I have learnt from the unit that having leadership quality is also a part of accounting and now accountant can give more emphasis on developing their analytical skills, instead of spending their time on doing the task such as data entry and creating final accounts. I also came to know about that possessing soft skills are also very much required for the accountant (IAFC, 2013) Clients and fellow employee expect me to work in an ethical manner and with pure honesty. They can expect from me to provide them a brief, relevant and accurate financial information which will enable them to make decisions more efficiently and effectively. Moreover, as an accountant I may expected to work according to the client requirements, in a very proficient manner and have possessed some technical and analytical skills. After studying this unit, I came to know that as an accountant managing time and maintaining a good work life balance can be a very demanding skill. Understanding the skills used in making outstanding presentations can be one of the expectations of clients and employees (CPA Australia, 2017). The crux of the role of accountant is to provide authentic and accurate information to the users. Apart from all this, I think accountants should possess good communication and leadership skills. They should have knowledge about the organization and should be able to manage their tasks properly. Now a days, as per ACCA the role of accountant require technical skills and being specialised enough to comply with government legislations and international financial reporting standards. An accountant should also be capable of adopting the new technologies and amendments in the law related to accounting (ACCA, 2015). As l learnt from the unit, there are number of issues faced by accountants. One of the major issue is establishing trust in the organization. Accountant depend upon the information provided by the top management and that can be manipulated also. So it become necessary for an accountants to establish a trustworthy relationship between them and management of the company. Another issues are maintaining balance in the work life, complying with the international standards, ethical issues, adopting new technologies, controlling fraud. Accountants can also face issues related to their specific field. For example, the one who are specialised in taxation has to keep themselves updated with the changes in the law or tax rates (Macve, 2015). References AICPA. (2017).Emerging Issues Impacting Today's Accountants. [Online] Available at: https://www.aicpa.org/interestareas/youngcpanetwork/resources/professionalissues/pages/emerging_issues.aspx [Accessed 2 Nov. 2017]. ACCA. (2015).THE PROFESSIONAL SKILLS YOU NEED. [Online] Available at: https://www.accaglobal.com/in/en/student/sa/professional-skills/professional-skills.html [Accessed 2 Nov. 2017]. Bebbington, J., Unerman, J. and O'Dwyer, B. eds., 2014.Sustainability accounting and accountability. Routledge. CPA Australia. (2017).SKILLS LIST. [Online] Available at: https://www.cpaaustralia.com.au/cpa-program/cpa-program-candidates/your-experience/skills-list [Accessed 3 Nov. 2017]. IAFC. (2013).Roles and Importance of Professional Accountants in Business. [Online] Available at: https://www.ifac.org/news-events/2013-10/roles-and-importance-professional-accountants-business [Accessed 3 Nov. 2017]. Macve, R., 2015.A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, or Threat? Routledge.