Getting Your First Job in Accounting/Finance – A Step-by-Step Guide
Beginning your career in accounting or finance can seem like a daunting task fresh out of college. Thousands of graduates pass out every year – in B.Com, BBA, M.Com, finance diplomas – so the competition is fierce. But the good news is that demand for qualified accounting and finance professionals is growing nationally in India. Whether it’s a GST filing, book-keeping, taxation, MIS reporting and financial analysis– companies are constantly on the lookout for candidates who are job-ready with hands-on preparation. Landing your first job is infinitely easier when you understand what employers are looking for and how to lay a foundation. This manual makes recent graduates feel confident about their first job by providing a structure for their job search and the workplace.
Understanding What Employers Really Want
Employers hiring new grads don’t typically anticipate much depth of experience. Instead, they seek fundamentals when it comes to knowledge, a willingness to learn and some elementary understanding of the tools used in banking. Again, companies hire those candidates who know basic concepts like journal entries, ledgers, trial balance, GST, TDS and income tax basics including financial statements. In addition to theory, practice is even more pertinent. Employers value new hires who can familiarize themselves with accounting software, author simple reports, arrange financial data and process business transactions accurately. Communication, problem-solving and attention to detail — soft skills like these do also make a difference in interviews.
Build Your Knowledge on the Basics of Accounting
Every graduate should have a grounding in accounting and finance before attempting to apply for jobs. That requires a return to major college-level ideas, and the way they play out in real life. A lot of companies have questions on journal entries, depreciation, reconciliation and GST “They are also asking questions on TDS rates and some basic accounts analysis. A good command over basics leads to confidence which is going to make you perform much better in Interviews. A solid base makes it easier to pick up on-the-job training more quickly.
Acquire Knowledge of the Accounting Software Used by Companies
The roles that require the specialization you’re pursuing are no longer just about having theoretical knowledge. Employers want you to be comfortable with tools that make work more efficient, And let’s face it, more accurate. There are now roles in bookkeeping, GST or auditing and finance operations that require you to know how to use software. Candidates with proficiency in learning tools like TallyPrime, Zoho Books, QuickBooks Online, BUSY and Excel have a big edge over the rest. TallyPrime is still the number one requirement in small business and SME sector but Excel’s importance is everywhere for Data organisation, MIS reporting, analysis and reconcillation. Those who take the time to learn these tools gain better job prospects, higher salaries and quicker promotions.
Build Practical Experience Through Internships
A brief internship can be enough to dramatically increase your odds of landing a full-time accounting job. During internships, you’ll learn about commercial transactions, how to file a GST return, bookkeeping and client communication will also be a part of the internship program where you will prepare financial statements. They also help you learn workplace culture and professionalism. Many employers also bring trainees in as permanent employees. Paid or unpaid, internships provide you with professional experience that can strengthen your résumé and make for more successful interviews.
Develop a Ready-to-Use Resume That Showcases Your Skills
A good resume paves the way for your job search. Instead of static descriptions of your academic history, the resumé should include evidence of why you are talented and responsibilities you have taken on outside class. Discuss the accounting software you have used, any hands-on training you received, college projects that included finance oriented tasks and real-world simulations where you grappled with the discipline’s basics. Keep the resume clean, clear and focused on employable skills. Structured resume gives recruiters the assurance that you can manage duties from day one.
Realistically Expect and Prepare for Interviews
Accounting interviews are a major challenge and students struggle quite a bit, because they know it’s going to be practical as well (it takes out both - knowledge as well as presence of mind). You might be required to explain journal entries, create a trial balance, discuss the components of GST, define income tax legislation – or even show how basic Excel formulas work. Interviewers also look to see how well you can think logically, solve simple problems and express yourself clearly. The more you prepare with common questions and answering accounting specific scenarios the better you will perform. It is also important to remain calm, be firm with you answers and to show that you’re eager to learn. Employers also value the attitude rather than just rote learning.
Get into Entry-Level Jobs for the Real Experience
Your first job, it doesn’t have to be perfect. The most important thing is to lose yourself on the job. While other lower jobs in accounting such as accounts assistant, junior accountant, GST trainee, finance executive or even audit assistant get you to learn the basics of professional accounting. These roles impart knowledge of how businesses function, how financial data moves around and how compliance processes work. You can get your nose in the door and a few months (6-12) later, move to higher pay or specialized jobs within tax, finance, MIS reporting/analysis, or corporate accounting.
Gain Confidence with Real Life Accounting Task Practice
Wippet186 After all, when you do real world tasks so often, you become more confident. Practice creating fake invoices, ledger entries and sample balance sheets; reconcile faux bank statements and PowerPoint your way through excel reporting. The better you get, the more second nature you become at answering questions and doing well in interviews. It also allows you to learn business transactions and explains the shortcuts you need in order to work effectively when hired.
Continue Learning and Improving Your Skills
The accounting and finance space constantly evolves with new GST laws, tech updates and automation software. You’re never behind for long with all that learning. Taking short-term courses on GST, TDS filing, advanced Excel, TallyPrime or financial modelling helps you stay relevant and updated. Employers prefer candidates who take initiative in learning and enhancing themselves.
Your pathway to a career starts with that very important first step
The first (or even the second) job in accounting or finance can seem like a tough nut to crack, but with appropriate planning it will be within arm’s reach for any graduate. Knowing what you employer wants, understanding rudiment concepts in accounting, get acquainted with important software used by accountants getting first hand experience through completing an internship and presenting a strong resume will lead to your success. Once you begin working, practical exposure will quickly boost your confidence as well as skills. It can start at an entry-level position, and the potential for growth in accounting and finance is limitless if you remain dedicated, pragmatic and open-minded to learning.
