Accountant

"Behind every good businessman is a great accountant" to ensure an organization's financial records are accurate and appropriate taxes are paid on time. An Accountant provides the information needed by investors and business owners to evaluate how a company is doing. And "accountants do it all without losing their balance."

What do Accountants do?

An Accountant would typically need to:

1. Document financial transactions by entering account information; prepare payrolls by verifying documentation and requesting disbursements
2. Assist audits and maintain accounting controls by preparing and recommending policies and procedures
3. Prepare and review budgets, revenue, expenses, and invoices to resolve and reconcile accounting discrepancies
4. Analyze revenue and expenditure trends; recommend appropriate budget levels, and ensure expenditure control
5. Prepare profit & loss statements and monthly closing & cost accounting reports while supervising the company's automated financial systems
6. Secure financial information by completing database backups; maintain financial security by following internal controls
7. Explain financial matters to staff, vendors, and clients while complying with government financial requirements
8. Maintain customer confidence and protect operations by keeping financial information confidential

Most Accountants work in offices, but some work from home. They complete much of their work alone but may sometimes work in teams with other Accountants. They may travel to their clients' places of business. The dress code would be business casual unless directed otherwise.

Prior legal knowledge, especially concerning taxation, may be beneficial to prospective Accountants. Many colleges help students gain practical experience through summer or part-time internships with Public Accounting or business firms.

Graduate Accountants must complete three years of relevant work experience supervised by an employer approved by the qualification provider. Your employer may allow for many years of Public Accounting experience to substitute for a college degree.

A bachelor's degree in Accounting, business, or economics is advantageous as these can provide a faster route to the necessary qualification with a professional accounting body. Some employers prefer to hire applicants who have a master's degree, either in Accounting or in business administration, with an Accounting concentration.

Every Accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Other Accountants choose to become a CPA to enhance their job prospects or gain clients. Typically employers pay the costs associated with the CPA exam.

Other certifications, which employers are increasingly requesting, include the following: Certified information systems auditor (CISA), Chartered financial analyst (CFA), Certified management accountant (CMA), Certified internal auditor (CIA), Chartered global management accountant (CGMA), Certified payroll professional (CPP). Proficiency in Software Applications such as QuickBooks and Microsoft Dynamics GP will prove advantageous to forward-looking Accountants.

Entry-level Accountants who excel may become Supervisors, Managers, or Partners. Some may open a public accounting firm; other Accountants may transfer to Executive positions in management accounting or internal auditing in private firms.

The prospects are good for entry-level positions. There is intense competition for jobs with the most prestigious accounting and business firms. Applicants who have earned professional recognition and an MBA with a concentration in Accounting have the best job prospects.

Accountants maintain professional and technical knowledge by attending educational workshops, reviewing professional publications, and establishing personal networks. You have to be a member of professional societies to maintain chartered status.

Earning an MBA will facilitate promotion to Senior Financial Analyst positions and administrative roles. Many Accountants specialize in assurance services, risk management, or healthcare, depending on the particular organization that they work for.

The Path to a Chartered Status Qualification as a Chartered Accountant takes at least three years and can be demanding. Study for exams takes place alongside full-time employment. Graduate Accountants should carefully consider the package offered in their training contract.

While working toward chartered status, provisions for training and study leave play an important role in job satisfaction, as well as salary and the atmosphere of the firm where you work. Qualification is dependent on the fulfillment of these training objectives, professional exams, and a professional ethics assessment. A Rare Feature There are four main types of Accountants: Public Accountants, Management Accountants, Government Accountants, and Auditors - Internal, External or Information Technology. Accountants enjoy a degree of cross-over potential that is usually not visible in other professions. They can transition from one type to another throughout their careers.

The field of Accounting isn't narrow-nor is it boring. Professional Accountants do everything from interpreting cutting-edge tax law to exposing tax evaders, cheats, and would-be Bernie Madoffs. As an Accountant, you can be confident that your work will involve creative problem solving, dynamic critical thinking, and endless growth opportunities.