Talking the (right) talk
During your training you will have learned a range of financial management and accounting terms and phrases.
However, if you feel the need to reinforce your terminology knowledge, there are a range of online resources available from ACCA, plus a variety of free online resources, that can help boost your grasps of the key terminology required at work.
LinkedIn is a great resource to check over, while many large and mid-size accounting firm websites can also be helpful in this regard.
There are also a raft of books that you can research, such as The Ultimate Guide to Business Jargon (Volume 1): Clarity on Management Terms in 100 Words Each.
Likewise, your recruitment company will be able to point you towards resources that will help you secure a firm grasp of new and familiar terms.
However, for specific terms used by your colleagues and managers within your workplace and sector, it is essential to keep alert.
Skills
‘Strong communication skills underpin a successful career in accountancy for several reasons,’ says Lorraine Twist, director at Hays specialising in accountancy and finance.
‘Many of the day-to-day responsibilities of an accountant involve communicating with clients and internal stakeholders about their finances, which entails presenting information in an accessible way, actively listening, understanding, empathising, problem-solving, and providing clear and valuable advice.
‘If you are just starting out your career in accountancy, it is a good idea to join calls and listen in for a while while your colleagues do the talking, to hear what terms and phrases they use. Soon enough, through observation, practice and experience, a confident vocabulary will come naturally to you.’
Get ACCA Careers working for you...
Search hundreds of roles from all over the world on ACCA Careers
Sign up for a job alert tailored to your desired location and role
One solution is to pick a mentor at work, who will not only be a constant reminder of where you want to be and what you need to do to get there, but they will likely communicate in a way that you will want to follow – including a firm grip of terminology and buzzwords.
Pick someone who can communicate clearly and confidently, but also has a firm grasp of the key in-house terminology to help you grow your own bank of knowledge.
Comfortable
Once you feel comfortable with your company jargon, don’t forget the importance of establishing and maintaining good client relationships. Formed on a basis of communication and honesty, these relationships determine the character and reputation of your firm.
In order to have these conversations, it is necessary to communicate in a confident fashion, but avoid using too much jargon or overcomplicated language in order to be able to assist with the everyday concerns of your clients.
Hannah Szymanski, market director finance and accounting at Robert Half, adds: ‘Communication skills are in high demand at the moment. Indeed, our 2024 Salary Guide listed this as one of the top five attributes that finance and accounting managers are looking for this year.
‘Demonstrating that you are a good communicator – both verbally and in written format – will not only boost your development prospects within your current firm, but also with any potential new employers as well.
‘It is not just how you communicate that is important though, but also how you adapt this skill for differing audiences. As we all know, how you communicate with the rest of your finance team will differ to how you speak to the CEO.
‘Ensure you are able to articulate core messages in different ways to really elevate your reputation with current and future employers.’
Author: Alex Miller, writer
More information
This article was first published in Student Accountant in May 2024 | Get the SA app now