Staff1 here: what are some key accounting concepts & technical skills to apply/know

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Control C + Control V is all you need to know

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I’d say more than technical accounting knowledge you should freshen up on excel skills. Pivot tables, Vlookups, Matches, and Sumifs are some of the most used ones in my experience

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In all seriousness - as a new staffer I encourage over documentation. If your senior/manager wants to cut it down, they can, but when they come to you with review notes a week or 2 later (and sometimes even a month or 2 later depending on the type of client/efficiency of the review process) it’s definitely nice to have information in your work paper to help remind you of what you did.

Also - don’t just assume you know everything. I can promise you that you don’t. The seniors/managers/partners don’t even know everything. So go into each job with a positive attitude and willingness to learn.

Be flexible. No 2 seniors are the same. Some like to answer questions all at once at the end of the day and some like you to ask questions as you’re going. Some like to start work at 0730 and some start at 0900. Just know that the first couple of years require the most flexibility from you. Once you start in charging, your ability to be autonomous increases exponentially

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In all seriousness though, I have barely needed to tap in to my accounting education. I audit reconciliations and controls and don’t go anywhere near financial statements. It sucks

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SALY

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EY1 - I’m in financials all day every day and still feel like I’ve barely needed to tap into my accounting education. Seems like you don’t reeeally need those skills until upper senior/manager

At your level, just live in your audit approach guides! Right now, you’re expected to learn how to audit according to your firm’s methods. You’ll really impress your seniors and managers if you can say, “Well, I looked in our internal control guide and ...” Leave the technical accounting concepts for a year or two down the road. You should be getting some technical accounting experience by the time you’re a Senior 1 or 2.

Debits on the left and credits on the right

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