Accountant : Accountant Job Description And Information
By: Hando Kroon Thursday May 17 2012
Map: Home | Accountant - Date Submitted: 2011-06-12 23:06:51 - Views: 918
Accountants do more than just prepare tax returns or offer tax advice. Accountants also prepare financial statements and assist with long term financial planning for both individuals and businesses.
Accountant is responsible for applying accounting principles and procedures to analyze financial information, prepare accurate and timely financial reports and statements and ensure appropriate accounting control procedures.
Accountant role covers these aspects of finance work:
1. Continuous management of financial systems and budgets.
2. Advising on tax and treasury issues undertaking financial audits.
3. Providing financial advice.
4. Communicating with business and providing financial information and advice.
5. Reviewing the company's systems and analysing risk.
6. Advising clients on tax planning and current laws and legislations to enable them to minimise their tax liability.
7. Advising on tax issues associated with activities such as business acquisitions and mergers.
8. Maintaining accounting records and preparing accounts and management information for small businesses.
9. Advising clients on business transactions, such as mergers and acquisitions.
10. Advising clients on areas of business improvement, or dealing with insolvency.
11. Detecting and preventing fraud.
12. Managing junior colleagues.
13. Liaising with internal and external auditors and dealing with any financial irregularities as they arise.
14. Producing reports and recommendations following internal audits or public-sector audits.
15. Preparing financial statements including monthly and annual accounts.
16. Preparing financial management reports, including financial Planning and forecasting.
17. Negotiating terms with suppliers.
Key Areas for Accounting Careers
Audit: Audit is at the core of accounting work. Accounting auditing careers involve checking accounting ledgers and financial statements within businesses, public and not-for-profit organizations. Being increasingly computerized, this work can rely on random sampling methods. This provides a solid foundation to future specialist work, as it really enables you to understand how an organization makes money.
Budget Analysis: A budget analyst develops and manages an organization's financial plans. Many jobs exist in government and private industry. You will require strong quantitative skills for this work, along with good people skills, because you will be involved in negotiations.
Financial Accounting: Financial accountants draw information from the general ledgers to prepare financial statements. They also take part in the business's important financial decisions involving mergers and acquisitions, employee benefits planning and long-term financial projections. This work can very from week to week, so needs a combined understanding of accounting and finance.
Management Accounting: Management accountants work in companies and contribute to decisions about capital budgeting and business analysis. Major activities include cost analysis, contracts analysis, and participation in efforts to control expenses. Management accountants are now major contributors to business decisions, working alongside marketing and financial managers to develop new business.
Tax: Tax accountants prepare corporate and personal income tax statements. They also prepare strategies for deferring taxes, when to expense items, how to approach a merger or acquisition, etc. You need to have a thorough understanding of economics and the tax code. Many large firms now also look for legal knowledge.
Different Types of Accountants
Bookkeeper
Bookkeepers as the As the name implies, manages a company's books and is an entry-level position in accounting. Good bookkeepers are a very valuable asset to any accounting team, as the basis of all financial reporting systems rests upon their data contribution. Bookkeepers record transactions from sources such as invoices and checks and keep an official track of company spending so when it comes to filing accounts there is an accurate trail of all the outgoings
General Accountant
In general, an accountant performs vital functions to businesses, as well as individuals, of all types by offering a very wide array of business and accounting services. General accountants, they make accruals and adjustments. Full Charge bookkeepers can do the whole accounting process, through final financial statements. Accountants can take the basic information and then add all of the numerical information and formulas and adjust it to final status. In large businesses and companies, accountants may specialize in one area, such as payroll or accounts payable.
Controller
This is the main head of an accounting department. Controller is an elaborate word for Chief Accountant. Also known as a comptroller or controller supervises cash flow within an organization. While a comptroller typically audits government accounts, a controller is an accountant in a public or private corporation.
Certified Public Accountant (CPA)
CPAs can attest to the validity of financial information. This means that they can audit financial statements and report on whether the statements are accurate or not. Certified Public Accountant(CPAs) are licensed by law.
Chief Financial Officer (CFO)
The CFO is head of several finance-related departments within a large business or a company. A CFO is often the department executive who supervises the financial management team, including collections, inventory, sales and employee expenses, etc. If a company has an internal auditing staff, this department would also report back to the CFO. The CFO receives independent opinions from several subordinates regarding the company's accounting operations.
Forensic Accountant
Forensic accountants investigate issues involving white-collar crimes such as fraud, embezzlement and contract disputes, and money laundering. These accountants combine accounting expertise with knowledge of law, and may work with police or appear as expert witnesses at court trial.
In most corporations there are two different accounting departments one is for the Accounts Receivables while the other department is for the Accounts Payable.
Main Responsibilities Accounts Receivables:
1. The Accountant is responsible for receiving payments.
2. The Accountant is responsible for invoicing the debtors.
3. The Accountant is responsible to inform the person who does the collecting when a client is behind in their account.
4. The Accountant is responsible for posting them to the appropriate account.
5. The Accountant in Accounts Receivables must make financial reports.
6. The Accountant in Accounts Receivables is in charge of monthly analysis for the department heads.
Main Responsibilities Accounts Payables:
1. The Accountant in Accounts Payables receives invoices from the vendors.
2. The Accountant in Accounts Payables keeps financial records concerning the vendors that the company owes.
3. The Accountant in Accounts Payables makes monthly reports to appropriate executives in order to keep the departments within budgets.
4. The Accountant must make sure that the projects are not going over budget.
Accounting Qualifications
In order to work as an Accountant you are expected to have a degree or equivalent from an accredited college. Although it's not essential but a degree will get you exemptions from some of the exams. The first part is to choose which accounting body you wish to study towards and what type of accountant you want to be. You need to have knowledge of accepted accounting practices and principles in the profession as an Accountant.
The Accountant needs to have knowledge of economic principles. The Accountant needs knowledge of auditing practices and principles. The Accountant must have full knowledge of applicable laws, codes and regulations. The Accountant must have knowledge and experience of related computer applications.
Many major corporations require that their Accountants have at least three years experience in the management of financial systems and budgets, financial reporting, financial data analysis, auditing, taxation and providing financial advice before you can be promoted as the department head. They will hire you as an intern or just after graduation to work on certain aspects in the department working as an Accountant.
　
In UK there are three main accounting bodies - The Institute of Chartered Accountants in England and Wales (ICAEW), the Chartered Institute of Management Accountants (CIMA) and Chartered Association of Certified Accountants (ACCA).
Getting An Accounting Position
Many Accountants get their first position by becoming an intern while still in college. The corporation will hire interns at a lower scale of pay but giving you the experience and credit that you need to becomes a licensed CPA. After graduation most companies will normally keep you on in your position letting you work your way up to a more favourable spot as an Accountant earning a much higher salary. Some Accountants use their intern experience to apply for a position in a different company getting a much higher salary.
Accounting Jobs Pay Scale
The average salary of an accountant in the United Kingdom is around 35.000 pounds. Accountant salary can depend on factors such as the pay scale of the company, calcifications received and previous experience.
In US According to the Bureau of Labor Statistics, most accountants made between $45.650 and $77,600 a year in 2009. The lowest-paid accountants earned less than $35.000 while the highest-paid earned $98,600 a year.
If you are good with numbers and you are interested in accounting, why not to become an accountant. Get more at the: Career Advice Forum.
Business owners, whether they are involved in small businesses or big ones need to prepare their accounts for auditing and taxes The process can be elaborate, complex and time consuming and taking professional help is advised. Viewed: 359 Times. Read More ...
This is a great time to find a career as a professional accountant. If you have graduated from college and are looking for an accounting job, there are few things you can do to narrow down your search.
Viewed: 367 Times. Read More ...
Before making some high and lofty plunge into a career you know nothing about you might want to consider a few things and make sure your desire to be an accountant is strong enough to pull you through the commitment that's needed.
Viewed: 377 Times. Read More ...
Accountants have a promising job outlook as the accounting profession continues to grow. Able to specialize in a variety of areas, accountants can really follow their passion in life.There are a lot of different careers in the accountancy field. Viewed: 380 Times. Read More ...
There is no denying that the work of an accountant is no child’s play It is not everybody’s cup of tea to deal with financial resources, profits, balance sheets, accounts, ledgers, like a whiz and assess the profits and loss of a company. Viewed: 386 Times. Read More ...
Are you interested in becoming an eBay seller? If you are, you are definitely not alone, as eBay has become a relatively quick and easy way to make money online. Viewed: 193 Times. Read More ...
Are you an eBay PowerSeller? If you are, you likely already know the importance of having pictures in your eBay listings. In this article I will show you how to save money by getting free pictures to all of your listings. Viewed: 194 Times. Read More ...
Are you an eBay seller? If you are looking for ways to make money from home, there is a good chance that you may be. When it comes to working from home or making money from home, one of the first places that people turn to is eBay. Viewed: 196 Times. Read More ...
Today, there are hundreds of journalism schools, colleges and universities that offer various programs that are related to a journalism career. For you not to waste time studying in a school that won't really help you once you have finished, it is best to be meticulous in choosing the right school before you finally enter it.
Viewed: 200 Times. Read More ...
If you are an eBay PowerSeller, you will have to do business with eBay buyers. As traditional retailers do, you may also have a problem with some customers. Viewed: 206 Times. Read More ...
Accountant
Print
![[Valid RSS feed]](http://www.howtobecome.info/articles/images/blackrsslarge.png "XML Feed For RSS")
