Required Skills for Trainee Accountant and Job Interview Preparation

This report discusses the required skills for a trainee accountant, including rapid and accurate calculation, understanding of taxations and financial methodologies, balance sheet understanding, team working, and proficiency in IT. It also provides tips for job interview preparation. The report covers the elements of a staff meeting, such as diversity in product placement, creative advertisement approaches, new approaches of selling products, and improvised budgetary. It explains the stages of team formation, including forming, storming, norming, performing, and adjourning. Additionally, it discusses the advantages of using spreadsheets for analysis and the main purpose of using visual aids to present data. The report emphasizes the importance of effective communication in the workplace and explores different types of communication channels. It also highlights the role of informal communication and provides recommendations for improving organizational communication and work productivity.

Professional Development
Report
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Task 1:.............................................................................................................................................3
Required skills for trainee accountant.........................................................................................3
Main points for the preparation of the job interview...................................................................4
Task 2:.............................................................................................................................................4
Elements of the staff meeting......................................................................................................4
Stages to encounter when new team is being formed..................................................................5
Task 3:.............................................................................................................................................6
Advantages of using spreadsheet for analysis.............................................................................6
Main purpose of using visual aids to present data.......................................................................6
Task 4:.............................................................................................................................................7
Importance of effective communication......................................................................................7
Types of communication channels-.............................................................................................7
Role of informal communication.................................................................................................7
Recommendations........................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCE..................................................................................................................................9
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INTRODUCTION
Finance & accounting is the field of accounting which is related to the accounting concerned
with the overall summery, analysis and reporting of the financial transactions related to the
business. Global Mall shopping centre is the commercial outlet which tends to provide various
products to the customers. Evaluation in the required skills which are essential for the accounting
is being done within the report and with that analysis on the proper approaches for the job
interview is also being analysed within the report. Study on the various organizational agendas is
being done within the report. With that evaluation on the appropriate steps which are being taken
to improve the overall work productivity is also be done within the report. Study upon the
effectiveness of the spreadsheet within organizational activities is being analysed and with this
role of proper communication in terms of achieving organizational activities is also be done
within the report.
MAIN BODY
Task 1:
Required skills for trainee accountant
Accountant is the organizational employee which is responsible for managing the finance based
organizational activities like accurate calculation of financial charges, revenue collection,
taxation and many more (Alnafea, 2020). Following are the factors which have to evaluate by the
individuals in terms of applying for the trainee job.
1. Rapid and accurate calculation of financial amounts, it is highly important skill for
an accountant trainee because it has to perform several financial activities like
evaluation of revenue collection and profit in context to cost price and selling price.
2. Proper understanding about the taxations and financial methodologies, is also an
important factor for the corporation due to the fact that proper pricing is being set
such that low cost to customer is being established while high return of investment
is also being achieved.
3. Balance sheet understanding, as being an finance job profile trainee it is highly
important the individual is having a proper understanding about the various job
profiles. This is important because it has to properly manage all the financial
records and often have to develop budget as well.
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4. Team working, is an important factor for trainee accountant because it has to take
commands from the higher authority and also since the company is having various
departments. Therefore overall revenue collection has to be integrated to identify
overall growth.
5. Proficiency in IT, is necessary because computers are being used to properly and
accurately document the financial growth, therefore because of which proper
understanding of the IT field is also important for the trainee.
Main points for the preparation of the job interview
Proper understanding about the core concepts- As being an accountant trainee individual has to
ensure that it is being it is having a proper understanding about the core concepts of the financial
performance of the corporation. With this approach it can be evaluated that proper understanding
about the core concept is highly important for the corporation because through this approach
candidate can assure interviewer that minimum training has to be provided to the candidate and
because of which is highly efficient (Asonitou and Hassall, 2019).
Proper communication skills- Proper communication skills is important for the individual
because as being an trainee accountant it has to proper establish a proper bidirectional
communication with customers and consultant team members. Also with a proper
communication skill interviewer can also be influenced that candidate is able to fulfil
organizational requirement.
Expected question sets- There are several basic question sets which can be prepared by the
candidate, through this can be ensure that it is being able to achieve the highest possible marking,
by which the chances of selection within the company can be improved.
Task 2:
Elements of the staff meeting
Agenda is the overall requirements on which the overall set of activities have to be
performed, by which desired target can be achieved. As being an trainee accountant, following
are the different elements of staff meeting.
1. Diversity in product placement by which premium pricing can be set, is the approach
which has to be implemented within the shopping centre because through this approach
overall revenue collection can be improved.
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2. Creative advertisement approach to attract new customers by which overall
organizational sales can be increased. This is also an approach which the shopping centre
has to implement because due to threat of substitute has drastically being increased. Thus
several price reduction and creative advertisement approaches have to be implemented.
3. New approach of selling products, in the present time of COVID-19 customers is
changing the ways of buying goods and services. Therefore, because of which various
other approaches also have to be implemented, by the corporation like switching to the
online platforms and various other approaches as well.
4. Organizational improvised budgetary, has to be improvised as per changing
organizational requirements. This is important because a separate computerised
infrastructure has to be installed within the company by which proper monitoring of the
services can be accomplished. With this automation within the fund calculation approach
can be accomplished and also with which time consumptions within the process can also
be improved.
Stages to encounter when new team is being formed
Organizational teams are being developed for the achievement of a specific target and team
members are being selected on the bases of their individualistic property. There are several
stages which a team often has to encounter in terms of achieving its targets and following are the
stages.
Forming, is the stage in which the organizational team is being formed within the shopping
centre, since this is the initial stage therefore because of which the team members are unaware of
each other’s working pattern (Bishop, 2019).
Storming, is the most critical stage in which conflicts within the team often arises because, team
members are facing issues like differences in work pattern and work productivity.
Norming, this stage arises after storming in team members are aware of each other’s work
productivity and are able to implement improvisation within their operations.
Performing, is the stage in which all the team members are being able to implement
collaborative efforts for the achievement of the desired work productivity. This also becomes
important due to the fact that in this stage high work productivity is being achieved.
Adjourning, is the final stage in which the team is been able to accomplish its desired target and
the team is being dissolved, until the next project or new members are being integrated.
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Task 3:
Advantages of using spreadsheet for analysis
Spreadsheet is often being used within corporations for the performance of numeric and
financial capitals. Following the different advantages for the utilization of spreadsheet in
numeric calculations;
Minimum training required- Spreadsheet is easy to understand and therefore because of which
minimum training has to be provided by the company to its employees in terms of efficiently
utilizing the various associated tools (Sugeng and Suryani, 2020).
Easy to understand- Basic financial terminologies are being used within the spreadsheet and
therefore because of which it is easy to understand and therefore because of which it is widely
being used within companies like the shopping centre.
Easy to share- The use of spreadsheet also empowers the users to share the achieved result to
the external sources and therefore because of which inter-departmental communication is often
efficiently analysed.
Streamlines calculations- With simple use of terminologies, spreadsheet is also having various
calculations tools as well. Through this accurate calculation is also being achieved by which
overall time consumption can be reduced.
Multiple user access- One of the prime advantages which are being associated with the
spreadsheet is that it allow multiple users to simultaneously collaborate their working. This is an
effective approach because with this approach collaborate working can be accomplished.
Main purpose of using visual aids to present data
Visual graphical approaches are being used within the companies because of the fact that it is
simple to understand in terms of overall prime factors which have been contributed within the
operation. Also since companies often tend to evaluate its financial performance on various
performance grounds for an fixed interval of time. Therefore by using graphical approach overall
company’s performance can be converted from the numeric form to the linear graphic approach.
With which minor variation and the factors associated with this can be identified. This is an
effective approach because of the fact that overall time consumption within the process of
calculation is being reduced (Douglas and Gammie, 2019).
With that visual aids are also being used the company because of the fact that this allows
corporations to closely monitor the variations which are happening. With which the overall
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effectiveness of the strategy can be identified, by which future working strategies are being
developed. With this approach company tend to ensure that it is being able to take suitable steps
by which organizational expenditures are being reduced. For the purpose of providing its
services to the corporation by which overall high efforts can be made through which overall high
work productivity can be accomplished while maintaining an efficient economic growth.
Task 4:
Importance of effective communication
Effective communication is highly important for the departments in order to perform the
accounting practices. This is significant because company has to ensure that it is being able to
take appropriate steps by which desired high level of work productivity is being accomplished
while minimizing the expenditures. Therefore communication is often being established to
identify the appropriate financial budget requirements to perform daily, therefore once the
requirements of finding is being identified then appropriate steps are being taken to improve the
overall work productivity (Jiang and Alexakis, 2017). Also the finance departments has to
guarantee that company is having sufficient budget to perform its operations while maintain
economic growth.
Types of communication channels-
There are various methods by which internal communication can be established to achieve a
proper bidirectional communication to identify requirements. Some of the widely being used
internal communication platforms are emails, Intranet, project management tools and internal
podcasts. Intranet is the private local network which is being created by using World Wide Web
software. Project management tools is also an inter-departmental communication platform which
is often being used because of the fact that daily progress can be recorded. Internal podcasts are
being used to share the overall requirement of the institute which the employees have to achieve
and therefore because of which have to implement appropriate steps accordingly (Liu and Ren,
2017).
Role of informal communication
Informal communication is the type of bidirectional communication which is often being
established among employees, for the purpose of information sharing. This is highly effective
approach because a proper guidance of the overall requirements is being showcase by the
corporation to the employees. Through which it tend to ensure that it is being able to take
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appropriate steps by which overall work productivity is being increased. Also this becomes
significant for the corporation due to the fact that it has to guarantee that employees are being
able to identify the organizational requirement. With which it can ensure that employees are
being able to take the appropriate steps by which desired target can be achieved within minimum
expenditures.
Recommendations
It is being recommend to the institute that it is being able to take the steps by which a positive
brand image is being developed. With this it can also be recommended organizational culture has
to be developed such that it empower employees to establish a proper communication. With
which it can ensure that employees are being able to collaborate their working process with
appropriate communication (Sahd and Rudman, 2020). Through which desired high level of
work productivity is being accomplished and also with that appropriate steps are being taken
while to integrate innovative approach within the daily operations, with which chances of target
achievement can be increased.
CONCLUSION
From the evaluation it can be concluded that organizations has to evaluate its
organizational working, through which it can ensure that it is being able to take the best approach
by which overall work productivity can be improved. Also with this it can also be evaluated that
corporation has to guarantee that employee that employees are being able to take the approaches
by which desired work productivity is being improved.
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REFERENCE
Alnafea, F.S.M., 2020. Earnings Management in Light of the Shift to International Financial
Reporting Standards (IFRS): An Exploratory Study on Saudi Corporations. Global
Journal of Management And Business Research.
Asonitou, S. and Hassall, T., 2019. Which skills and competences to develop in accountants in a
country in crisis?. The International Journal of Management Education. 17(3).
p.100308.
Bishop, W.A., 2019. The development of management accounting skills in situations where
practical exposure is limited: The perceptions of training officers in South Africa. South
African Journal of Higher Education. 33(4). pp.20-43.
Douglas, S. and Gammie, E., 2019. An investigation into the development of non-technical skills
by undergraduate accounting programmes. Accounting education. 28(3). pp.304-332.
Jiang, L. and Alexakis, G., 2017. Comparing students' and managers' perceptions of essential
entry-level management competencies in the hospitality industry: An empirical
study. Journal of hospitality, leisure, sport & tourism education. 20. pp.32-46.
Liu, G. and Ren, H., 2017. Ethical team leadership and trainee auditors’ likelihood of reporting
client’s irregularities. Journal of Financial Crime.
Sahd, L.M. and Rudman, R., 2020. Trainee accountants' perceptions on the usefulness of case
studies as an assessment tool in developing and assessing professional skills: a national
perspective. Southern African Journal of Accountability and Auditing Research. 22(1).
pp.1-14.
Sugeng, B. and Suryani, A.W., 2020. Enhancing the learning performance of passive learners in
a financial management class using problem-based learning. Journal of University
Teaching & Learning Practice. 17(1). p.5.
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