How COVID-19 has impacted the young CAs, and how can they take advantage of this current time? - Accounts NextGen

How COVID-19 has impacted the young CAs, and how can they take advantage of this current time?

How COVID-19 has impacted the young CAs, and how can they take advantage of this current time?

The Novel Corona Virus has changed the working style across the globe, with the world going virtual. What seemed unrealistic earlier has now become an integral part of our life with the spread of COVID-19. Across the world, with some limitations and a bunch of advantages, every business and every profession is learning to overcome the deadly emotional and fiscal outcomes of the pandemic. For young Chartered Accountants (CAs), the outbreak of the deadly virus has created uncertainty and dilemma about their future.

COVID-19 outspread will be remembered for generations for the commencement of new working styles by facilitating businesses on virtual platforms, pay cuts, work from home trends, and rising unemployment with a large number of people going jobless. Just like other professions, CAs in New Zealand and Australia are also facing the outcomes of economic crunches due to the Corona Virus. They have been the victim of uncertainty about their future too.

Psychology professor Paula Brough requested that the young CAs be prepared for worse conditions, which could be a reduction in working hours or losing a job with the economy getting weak. Losing a job would amount to more significant difficulties of managing households, releasing expenses, payment of insurance premiums, or home installment or rent.

It is, therefore, vital for young professionals to maintain their physical strength. Taking a break is advisable, and so is seeking someone for support.

Working on soft skills

With the businesses facing hold up or multiple issues for their profitable survival, it is considered to be an excellent time for the novice or young CAs to inculcate soft skills which would aid them to combat the uncertain world.

Communication with the client is vital.

It is immensely crucial for young CAs to have strong communication with their clients and not rely on others. With the outburst of COVID-19, we shouldn’t expect them to be experts or technically proficient. CA’s are expected to work on their interpersonal skills. Communication from both ends is important and more significant to develop understanding and reliability between the two.

With everything on the internet, clients can have easy access to all information, but an advisor is always needed for expert and sound advice. Your communication skill should have an impact on being remembered and understood by the client. Your words should encourage clients to react and act. The bespoke response is requested to clients in their verbal style as one key won’t fit in all locks. New technology should be used to make the client understand like video calling or conferencing in place of traditional phone calls.

Adapt the new trends and be tech-savvy

The young and new CAs should be versed with the latest technology trends and be tech-savvy as much as possible. Being a CA, you should be creative, forward-thinking, and do planning to be ahead of time with new technology as it eases the work with newly added and improved features. So, go and check the most exceptional software company and its ideal pricing proposal. Know what tools are being used for screen sharing or video recording.

Every year, thousands of technological tools are introduced. Use the best one for an appropriate time to know it entirely before you suggest them to your client.

 Virtual association with like-minded people

Owing designation of CA is like icing on the top and imparts excellent benefits as you get to associate with the people having a similar mindset, approach, and knowledge. It facilitates you to connect with the folks belonging to the same industry and get acquainted with other chartered accountants.

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