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Magical Accuracy is by far the most important stat for a Sorcerer, and much of the player community would say the same for
Spiritmasters. Although it is the second-most preferred stat, no amount of Magic Boost will make up for a high percentage of spell resists and Magical Accuracy is the only way to increase your chances of landing that emergency Curse of Roots or Sleep. Ten points of Magic Boost is equal to approximately .8% increase in spell damage. Finally, additional MP increases your mana pool, allowing you to stay in the fight for a longer period. Mana treatments and Robe of Earth, combined with a good sized mana pool, will help to minimize down time.
Concentration is another stat that you may see on gear and weapons from time to time, and there is no description of this attribute or its effect in-game. What Concentration does is help to avoid cast interruption due to incoming damage. While it is at least marginally helpful when found, most casting classes should not be coming under fire and you will not find enough of it to be able to effectively stack. When you see Concentration on your gear, say thank you, and then forget it.