There’s a view that the accounting professional is purely engaged in rigid compliance tasks with zero room for creativity. As CPA puts it, traditional accounting and finance firms are seen as bureaucratic with a methodical approach conducive to compliance-based work, and this in perceived as a roadblock to creativity.

Accounting isn’t exempt from the professional advantages of creative thinking and hiring creative people. Creative thinking accounting opportunities can greatly benefit the day-to-day operations for accounting firms.

The importance of soft skills for accountants

There has been a rise in the importance of soft skills for successful accountants, particularly in the recruitment process, where crucial skills amongst the best-in class talent are assessed. So, what are soft skills in the workplace and why are they important?

According to Linkedin, “Soft skills are the essential interpersonal skills that make or break our ability to get things done. We think of them as foundational and every professional should be working to build them.”

While experience and hard skills for accountants like understanding the basics of cloud-based practice management software and the ability to interpret data management and analytics insights remain vital, attaining and nurturing soft skills for accountants should be a function of every modern practice.

Want to learn about other specialised skills every modern accountant should be equipped with, such as strong accounting communication skills? Read our article, communication skills for accountants.

As accounting grows its reliance on artificial intelligence, accountants will find it important to consider the basic accounting skills you need to thrive. Accountants can check out our article on this topic: How to future-proof your accounting career from AI.

Why is creative thinking important in accounting?

Creativity is one of these soft skills which is intrinsic to developing innovative solutions to problems.

According to the World Economic Forum, creativity is one of the top five skills that will be needed to thrive in the world of work by 2025. Additionally, in a global trends report in 2019, LinkedIn identified creativity as the most in-demand soft skill (regardless of industry), with 92 per cent of the thousands of job recruiters interviewed agreeing that soft skills are just as, if not more important than hard skills.

Creative thinking requires an openness to innovation, the capability to formulate fresh solutions, and is linked to analytical skills, communication skills and time management skills.

When the nuts and bolts of accounting standards are put to the side, accountants who are natural creative thinkers can help to solve problems with clients, connect ideas and visualise inventive creative solutions to their business’s challenges.

What are the effects of creative thinking for accounting practices?

Creative accountants

Creativity in accounting is considered a soft skill, which is fast becoming one of the most sought-after attributes when hiring the best accountants. This remains true even when an accountant considers the persistent focus on relevant hard skills.

As we gradually see the day-to-day work of accountants move away from data entry and compliance toward business advisory services, technical accounting skills, such as creating thinking, are becoming increasingly prized. This is especially true when hiring an accountant.

During the process of recruiting of an accountant, it’s wise to look past the hard skill base and find creative attributes as well. This has become particularly important as we see software and automation gradually chip away at the work of an accountant, leaving skills like creativity has become a key differentiator.

Creative business advisory services

The crux behind creative accounting lies in an accountant's ability to create meaningful connections.

When an accountant investigates the work behind providing advisory services, it’s truly a creative problem-solving endeavour.

Accountants need to be creative problem solvers who can think flexibly when providing business advisory services by:

• Advising businesses on new business models;

• New ways to save capital;

• Inventive growth strategies;

• Identify opportunities from financial statements and financial reporting;

• Better ways to streamline cashflow;

• Entering new markets;

• New ways of doing business.

Creative accounting practice owners and direction

Not only does creativity come into play when it comes to client work for accounting professionals, it can also have a positive impact on how accounting firms operate. Accounting firm owners can utilise creative thinking to form new ways to work within their businesses and plan the future direction of a practice.

Creative thinking for accountants can help:

• Leverage accounting communication skills to find new ways to communicate with one another internally,

• Envision fresh marketing ideas, and

• Positively impact the strategic direction of your firm.

If you don’t hire and nurture accountants with creative abilities, these important aspects of running a practice will inevitably suffer.

What is an example of creative thinking in accounting?

Are there ways you can nurture creativity and innovation in your accounting practice? Absolutely!

To create a working environment that encourages creative thinking skills, consider adopting the following creative ideas:

Create a workplace environment where brainstorming is encouraged

Creativity often arises when an open accounting team environment combines with shared space and input.

This can mean regular sessions with a whiteboard to foster creative problem solving.

Instead of siloing accountant client work, brainstorming together as a team can help unlock new approaches.

Diversity of talent is another key ingredient in fostering creative thinking in accounting practices

When you build an accounting team that has a strong level of diversity when it comes to their technical knowledge, experience, backgrounds, age, and gender, you create a natural business environment where different opinions stimulate new creative directions and thinking.

Inviting suggestions and feedback will help develop creative accountants

Many times, an accountant may have a fantastic idea for the trajectory of the practice, a new way to work on tasks or a method for assisting clients.

However, you may never know about it as it’s much easier for that accountant to stay silent if your team doesn't have a frictionless method of gaining feedback.

A stimulating physical environment will naturally stoke creativity in accounting

Creating an ideal accounting office environment with greenery, evocative colours, art, and open spaces, as this will help creative thinking skills to blossom.

Encouraging exercise, team activities and social downtime also help to boost collaborative creative thinking 

By prioritising social and recreational activities in your accountant team culture, then conversations, stimulation and new perspectives can form.

Do your research about thinking creatively in accounting practices

Endless educational resources exist, online or coached, to teach accountants the value of creative thinking and new creative solutions you need in your practice.

Accountants: remember that you can invest time upskilling your creative thinking and other skills as part of your yearly continuous professional development (CPD) points. Learn more about CPD points for your accounting business in our article: the best free CPD resources for accountants.

The future of creativity for accountants

While accounting automation, new accounting software and artificial intelligence (AI) will all continue to transform the core work of accounting practices, the benefits of creative thinking in accounting are irreplaceable.

Put creative thinking in your accounting practice for future success, when you download our eBook, How to future proof your practice.

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With cloud-based accounting practice management software, you can streamline processes by completing tasks and jobs faster, so you have time to concentrate on creative solutions within your accounting firm.