UNCMACAccountingSkillsChecklist

THE SKILLS YOU'LL NEED (and how you'll use them when you're an accountant) Take a look at our accounting skills checklist below. Some of these skills you may already have. Others, you may need to acquire or strengthen. The UNC Master of Accounting Program will give you the opportunity to learn and strengthen all of these skills, taking you from student to professional. "HARD" SKILLS"SOFT" SKILLS THE SKILLS......AND HOW YOU'LL USE THEM!HAVE IT?Strategic business insightA client is considering "reshoring" its• How macro economic trendsmanufacturing, moving factories fromafect individual companies overseas locations back to the United• Awareness of U.S. and States. You are asked to help assess theinternational business pros and cons of that scenario.conditions • How technology is changing common business practices Tax Companies will seek out help your help•How to fle taxes in fling their tax returns and ensuring • Tax minimization strategiesthey pay what they're required to, but• Filing taxes in multiple no more. They often need your helpstates or even countries fling returns in multiple states and even• Managing IRS audits multiple countries.Audit You'll review company fnancial state-•Reviewing accounting ments and accounting systems to make systems and processessure they comply with fnancial ac-• Understanding GAAP rules counting standards. You may also helpand regulatory requirements businesses when they want to review• Spot checking for errors, their internal operations to make sureomissions and even illegal they're running optimally.activity Cost accountingFiguring out how much a product or•Collect and analyze dataservice actually costs can be moreabout operations complicated than it frst appears. As a• Allocate costs based on cost accountant you'll help companiesaccounting principles fgure out what things truly cost — key• Understand the implications knowledge for any business. of diferent costing methods • Present fndings clearly and succinctly to executives THE SKILLS......AND HOW YOU'LL USE THEM! HAVE IT? Afnity for problem A client has asked you to evaluate the solving and numbers cost impact of consolidating factories located in several states to one large location. You'll have to consider numer- ous factors: tax diferences, changes in transportation costs, real estate impli- cations, labor, raw materials cost and more. You'll need to be comfortable with numbers and adept at breaking down a big problem into manageable chunks. Leadership skills When leading a team of accountants on a project, like an audit or preparing corporate tax returns, you'll need to organize who does what and ensure everyone's working together toward the overall goal. Work ethic Maybe you're under pressure to get an especially complex tax fling done on time. Maybe it's a big corporate audit. Whatever the case, there will be times when you have to work longer hours. Do you have what it takes? Communication and You've just fnished up big audit. Now presentation skills you've got to present the results, in detail, to the CFO and CEO. Are you ready to deliver a clear, professional presentation to the big client?