ACCA Sets Out 7 Attributes To Success In Modern Business

ACCA Sets Out Magnificent 7 Attributes To Success In Modern BusinessAn optimum blend of skills, experience and intelligence is now needed by professional accountants, finds an in-depth global research project from ACCA (the Association of Chartered Certified Accountants). Speaking at the launch of the report, Helen Brand OBE, ACCA’s chief executive said, “The accountant’s role has been revolutionized over the past decade, with finance professionals becoming leaders, trusted expert counsel and key strategic advisers to organizations whether in the public or private sectors.”

To define what the 2016 finance professional must look like, ACCA sets out 7 attributes – a mix of technical knowledge, skills and abilities formed with interpersonal behaviors and qualities.

1-Technical and ethical competencies (TEQ):

The skills and abilities to perform activities consistently to a defined standard. Often based on a professional qualification.

2-Intelligence (IQ):

The ability to acquire and use knowledge: thinking, reasoning and solving problems.

3-Creativity (CQ):

The ability to use existing knowledge in a new situation, to make connections, explore potential outcomes, and generate new ideas.

4-Digital quotient (DQ):

The awareness and application of existing and emerging digital technologies, capabilities, practices, strategies and culture.

5-Emotional intelligence (EQ):

The ability to identify your own emotions and those of others, harness and apply them to tasks, and regulate and manage them.

6-Vision (VQ):

The ability to predict future trends accurately by extrapolating existing trends and facts, and filling the gaps by thinking innovatively.

7-Experience (XQ):

The ability and skills to understand customer expectations meet desired outcomes and create value.

ACCA sets out 7 attributes which show strengths the way ahead. They are the means by which accountants use their technical knowledge, skills and abilities blended with the interpersonal behaviors and qualities to put them to use.

According to  Helen Brand, “Everyone has their own strengths and weaknesses. The key is to recognize where you excel and where you need to work to build your competency through the continuous professional development which professional accountants already know so well.”

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