4 Skills Accountants Need in The Manufacturing Industry

A career in accounting means you get to work in a variety of business sectors, including the manufacturing world. Most of your accounting skills are transferable between industries, but each sector sometimes requires abilities specific to that business domain. The manufacturing industry is one example where accountants need a few capabilities beyond the typical skill set.

Let’s take a closer look at some of the specific skills you’ll need when working as an accountant for a manufacturing company. Leverage this information to be better prepared for these kinds of opportunities.

An Understanding of The Big Picture

Accounting in manufacturing tends to be more complex than other business sectors, with large supply chains and other unique considerations coming into play. Because of this, accountants in this space need the vision to understand the big picture when determining important calculations, like ROI. “Sometimes, the investment return may not be crystallized in terms of money, but you have to look at the whole picture for the whole company,” says Chow Kam Wing, a CPA for a manufacturing company.

Deep Knowledge of the Manufacturing Sector

The finances of a manufacturing company offer its own set of unique challenges for the accountant, especially when it comes to standards. In many cases, accounting standards apply differently in this business sector. Strong working knowledge of these standards within the context of manufacturing is a must.

Familiarity With ERP Applications

Manufacturing companies depend on ERP application suites, like SAP, to help manage all aspects of their operations. Accountants in this sector need to boast deep familiarity with ERP software, especially the modules related to the supply chain and capital expenditures. Consider earning a certification in this area if you want to apply for a position with a manufacturer.

Strong Written and Verbal Communication Skills

Manufacturing organizations tend to have multiple business stakeholders. Accountants in this area are generally tasked with communicating with these groups in both written and verbal form. Therefore, superior communication skills in both forms are essential for accountants working in this sector.

Additionally, note that these stakeholders range from unionized shop workers on the plant floor to the executive team. Being able to clearly explain how the latest accounting numbers relate to these disparate groups is essential. In the end, building relationships using your communication skills helps you succeed when working in this sector.

If you need help taking your financial career to a higher level, speak with the knowledgeable recruiters at Venteon. As one of the top accounting staffing agencies in Michigan, we know the companies looking for talented professionals. Click to contact us today!



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