Well usually it's mostly keeping up to date with changes to the law, which can usually be downloaded as summaries from the major accounting bodies where you live, i.e. ICAA, CPA, IPA. You will also have to be able to tailor advice to individual circumstances which becomes easier as you memorise more facts.
In the classroom:
Mostly applying 'rote learned' knowledge and repeating content which are vital to gaining high GPA scores. However, even with high marks, you can fail as an actual accountant if you cannot communicate. Working with journals and ledgers are compulsory in the classroom, but once you start work, you usually only input once and the software enters the data many times into the correct journals without repetition.
Hmm... I would try to gain experience as soon as possible in a public practice setting even if you hate it. Usually it will be much more difficult to gain an internship or gain entry to a graduate program if you have no experience whatsoever and aren't exactly a top communicator.
Also, consider whether you will be able to repay any student loans if you are required to.
To me, it felt like the classroom is nothing like work-life. So I left.