Business Skills: Communication, Accounting, and Management Techniques

This report provides a comprehensive overview of essential business skills crucial for organizational success. It delves into the significance of communication skills, highlighting their role in effective information transfer and relationship building. The report then explores analytical and problem-solving skills, emphasizing their importance in data interpretation and decision-making processes. Furthermore, it examines accounting principles and their application in financial management and tax optimization. The report also outlines various methods to improve these business skills, including focused attention, effective communication strategies, and the development of efficient systems. The conclusion underscores the importance of these skills for achieving competitive advantages and organizational objectives. The report references various books and journals to support its findings.

ACADEMIC
SKILLS FOR
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Communication Skills ................................................................................................................1
Analytical or problem solving skills...........................................................................................2
Accounting Principles ................................................................................................................3
Methods of improving business skills.........................................................................................4
.........................................................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCE ..................................................................................................................................7

INTRODUCTION
An economic system or business organisation is the place where goods and services are
exchanged in terms of money and any other benefits. Every business organisation is focused on
achieving organisational goals and objectives in order to reaching at higher position at market
place. Business skills are describes as the capacity or ability which are gathered by deliberate,
sustained and systematic efforts smoothly and effectively carry out all business activities with
complexities or various job functions including technical, interpersonal and cognitive skills 1.
This report contents the study about various skills that are required for improving performance
of any business. It is required for an individual to having essential command in various academic
skills in order to managing all business activities in right direction.
Thesis Statement
Business skills are beneficial for individual because it helps in enhancing employees
skills in management, accounting, communication and financial decision for the better
development of organisation.
MAIN BODY
Business skills are most important aspect of business firm, every business organisation is
focused on hiring well skilled and educated people in their firm just for enhancing business
performance at market place. Some skills are describes as under:
Communication Skills
It is necessary for organisation to implement best and effective communication channel
among various departments of firm in respect of efficient transformation of data and information
to departments, colleagues and customers who are related with similar organisation.
Communication might be done through face to face conversation, over phone call and via e-mail.
Communication can be considered as the ability to communicate effectively to colleagues,
supervisor and staff members 2. Being more confident and able to communicated effectively at
1 Forney, Kristine. Enjoyment of Music: Shorter Version–. WW Norton & Co., 2016.
2 Management 39 (2014): 157-164.Merrell, Kenneth W., and Gretchen Gimpel. Social
skills of children and adolescents: Conceptualization, assessment, treatment.
Psychology Press, 2014.
1

any place is the most essential skills of all life. It can be determined as a process of transferring
data and information from place place to another through any media or source. It may be through
applying printed or digital media like books, email, magazines and websites, these are part of
written communication channel, using voice, this can be considered as vocally channel 3.
Visually in which logos, maps and charts are used for interpreting thoughts and ideas. Non
verbally it is the most important part of communication, it involves body language, tone of voice,
gesture and attitude.
For example: for providing presentation on financial aspects, accountant needs to have
good communication skills, to making understand each people about their terms and values.
Good communication is necessary in each working area because this helps in providing a better
understanding of human thoughts and ideas.
Analytical or problem solving skills
This skill is required in each sector of business, it is key skill which employer seeks in
their job applicant because problems are unwanted and these can arises any time any where, so
every individual needs to have problem solving skills in order to resolving the issues and
conflicts. It is required for accountant to have the skills of reading, comparing and interpreting
data and figures 4. It explains through including various aspects such as visualizing,
conceptualize, articulate and resolving uncomplicated and complex situations through creating
an effective decision that are sensible and able to provide important data and information.
For example: An accountant of company might work on their financial activities and
minimizing a clients tax liability through managing financial resources. Accountant needs to
have the ability to analyse the issue and resolve them by making a significant decision which are
beneficial for organisation and its growth.
3 Radesky, Jenny S., Jayna Schumacher, and Barry Zuckerman. "Mobile and interactive
media use by young children: the good, the bad, and the unknown." Pediatrics 135, no.
1 (2015): 1-3.
4 Gbegi, D. O., and J. F. Adebisi. "Forensic accounting skills and techniques in fraud
investigation in the Nigerian public sector." Mediterranean Journal of Social Sciences
5, no. 3 (2014): 243.
2

Accounting Principles
Accounting discipline can be describes as the process of identifying, evaluating, and
communicating economic data and information to to provide significant direction to make
decision. Accounting is most wider term in every business organisation, this plays most
significant role in all business activities that aware essentially held in firm. This can be describes
as inspecting and managing financial records of an individual or an organisation in order to
analysing their actual position 5. There are so many jobs and opportunities are including
accounting, accountant, comptroller, auditor, accounting clerk and book keepers. Accounting
skills are applied in various sectors in respect of providing proper direction to whole business
activities, some are describes as under:
Financial accounting: Accounting skills are very much essential in financial sectors for
managing all financial resources in business. An effective knowledge about all accounting terms
helps in generating an effective result through which organisation can implement their business
activities in right direction. An accountant needs to have effective communication, analytical,
detailed orientation and information technological skills for managing business activities in
proper and right direction. An accountant should more presenting at work place because it is
required for them to present all financial detail through presentation to each department of firm.
Every organisation focused on hiring best skilled people in their firm, so that firm can attain
competitive advantage at market place.
Tax management: It is very much essential term in every business organisation to
manage tax because it is required for firm to manage tax in firm. Reduction in tax helps in
generating high range of profit for company 6. Every business firm appoint an well skilled
accountant to reduces tax rates and remove obstacles from firm in order to getting more benefits
and growth.
5 Bhasin, Madan Lal. "Contribution of Forensic Accounting to Corporate Governance: An
Exploratory Study of an Asian Country." (2015).
6 Dicke, Theresa, Jill Elling, Annett Schmeck, and Detlev Leutner. "Reducing reality
shock: The effects of classroom management skills training on beginning teachers."
Teaching and Teacher Education 48 (2015): 1-12.
3

Detailed oriented: Various terms of accounting, is all about paying significant attention
on small details. It is necessary for accounting professionals to analyse and interpret all data
which are important for business and its activities. For example: In a finance sector such as
banks, insurance firms, investment funds and real estates. These type of organisations needs to
have a proper management of financial terms in order to providing actual report. An organisation
is focused on recruiting well skilled and educated people who are having significant knowledge
about computers and various financial terms in order to maintaining business condition at market
place and generating profit and revenue.
Methods of improving business skills
Communication is a significant aspect in every individual in their normal life and career.
Advancement in digital media can helps in improving the business skills which are important for
organisational as well as humans own performance, there are so many skills which are essential
for improving business skills:
Give your undivided attention: It is required for higher authority and manager to give
proper attention to each individual who are available in any conference or meeting 7. Take time
to listen is an essential aspect in which are used by people for improving their communication
skills, so in a business meeting lots of people are there and miscommunication can be arises , for
resolving these kind of issues person needs to take proper time for listen different through and
ideas.
Inform and inspire: As a manager of firm, it is necessary for firm to set their goals and
objectives in order to carry out business activities for attaining cited goals and objectives. It is
the responsibility of firm to conduct all business acclivities in such manner through which goals
and objective can be achieved in proper manner.
Talk to your team: For improving organisational performance it is required for manager
or leader to establish an effective communication channel in order to providing better
communication for their employees. It is important for people who wants to become manager of
7 Blackwood, Jaime, Jonathan P. Duff, Alberto Nettel-Aguirre, Dennis Djogovic, and
Chloe Joynt. "Does teaching crisis resource management skills improve resuscitation
performance in pediatric residents?." Pediatric Critical Care Medicine 15, no. 4 (2014):
e168-e174.
4

any organisation, they needs to have some management skills which are essential for carry out all
business activities in a right direction.
Develop system: Each organisation use various system for managing record of their all
financial terms. It is important for company to develop all system that are used by firm because
this helps in generating high range of profit for their own.
Take advantage of unused channels: Every organisation is focused on applying various
tools and techniques for improving their marketing condition through providing proper and
accurate report of firm. As per the change in marker scenario organisation needs to make
significant changes in their accounting methods for improving the overall performance of
company. It is the responsibility of higher authority to resolve the issues and conflicts which are
arises at work place through making an effective decision on various aspects that are available
for the particular situation 8.
Apply best problem solving practices: It is necessary for accountant to use various
practices for improving personal as well as professional performance of an individual. The best
and effective method helps in reducing workload of financial department of firm and improving
cycle time, accuracy, responses time, data quality and employees morale.
8 Ruetzler, Tanya, William Baker, Dennis Reynolds, Jim Taylor, and Brian Allen.
"Perceptions of technical skills required for successful management in the hospitality
industry—An exploratory study using conjoint analysis." International Journal of
Hospitality.
5

CONCLUSION
From the above project reports it has been concluded that accounting skills and
managements skills are one of the important aspects of any business concern. These are
necessary to manage the financial statements of the company in order to gain competitive
advantages over the other company's. It covers objectives and various importance which are
helpful in taking necessary decision for the management of long term goals. Accounting skills
and management skills are used under this report, which are used in the firm in order to gain
competitive advantages over the other rivals. Under this report, this also used in order to attain
the company's pre-set objectives in a most effective manner.
6

REFERENCE
Books and Journals
Forney, Kristine. Enjoyment of Music: Shorter Version–. WW Norton & Co., 2016.
Merrell, Kenneth W., and Gretchen Gimpel. Social skills of children and adolescents:
Conceptualization, assessment, treatment. Psychology Press, 2014.
Radesky, Jenny S., Jayna Schumacher, and Barry Zuckerman. "Mobile and interactive media use
by young children: the good, the bad, and the unknown." Pediatrics 135, no. 1 (2015):
1-3.
De Haan, A.K., Elbers, E. and Leseman, P.P., 2014. Teacher-and child-managed academic
activities in preschool and kindergarten and their influence on children's gains in
emergent academic skills. Journal of Research in Childhood Education, 28(1), pp.43-
58.
Gbegi, D. O., and J. F. Adebisi. "Forensic accounting skills and techniques in fraud investigation
in the Nigerian public sector." Mediterranean Journal of Social Sciences 5, no. 3
(2014): 243.
Bhasin, Madan Lal. "Contribution of Forensic Accounting to Corporate Governance: An
Exploratory Study of an Asian Country." (2015).
Dicke, Theresa, Jill Elling, Annett Schmeck, and Detlev Leutner. "Reducing reality shock: The
effects of classroom management skills training on beginning teachers." Teaching and
Teacher Education 48 (2015): 1-12.
Blackwood, Jaime, Jonathan P. Duff, Alberto Nettel-Aguirre, Dennis Djogovic, and Chloe Joynt.
"Does teaching crisis resource management skills improve resuscitation performance in
pediatric residents?." Pediatric Critical Care Medicine 15, no. 4 (2014): e168-e174.
Ruetzler, Tanya, William Baker, Dennis Reynolds, Jim Taylor, and Brian Allen. "Perceptions of
technical skills required for successful management in the hospitality industry—An
exploratory study using conjoint analysis." International Journal of Hospitality
Management 39 (2014): 157-164.
7