Accountant, Certified Public

2 virtual internships

Description

Accountancy is a profession which quite literally runs the whole world of business and commerce and underpins any form of monetary transaction. Because all financial transactions need to be accounted or and reported, the profession takes many forms. Moreover it is an occupation which is almost recession proof. The four main types of accountants are:

Public accountants: Their clients include corporations, governments and individuals. They fulfill a broad range of accounting, auditing, tax and consulting duties.

Management accountants: Also called cost, managerial, corporate or private accountants. They record and analyze the financial information of the clients they work for, and provide it for internal use by managers, not the public.

Government accountants: Maintain and examine records of government agencies, audit private businesses and individuals whose activities are subject to government regulations or taxations.

Internal auditors: They check for risk management of an organization or businesses' funds. They then identify ways to improve the process for finding and eliminating waste and fraud.

Tasks:

Prepare, examine, and analyze accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting and other tax requirements.
Analyze business operations, trends, costs, revenues, financial commitments, and obligations, to project future revenues and expenses or to provide advice.
Report to management regarding the finances of establishment.
Establish tables of accounts, and assign entries to proper accounts.
Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
Advise management about issues such as resource utilization, tax strategies, and the assumptions underlying budget forecasts.
Advise clients in areas such as compensation, employee health care benefits, the design of accounting and data processing systems, and long-range tax and estate plans.

Key skills for accountant:

Creativity
Integrity
Interpersonal, negotiation and communication skills
Self-motivation
The ability to work as part of a team
Good IT skills
Analytical ability
Numerical skills
Excellent commercial sense and interest in business.

Average salary (2013):

The United Kingdom: £27,430 per year
The United States of America: $58,000 per year
Australia: AU$52,855 per year

Qualifications and training required:

Accountants must have a bachelor's degree in accounting or a similar field. Additionally, you will need certification to increase your value, such as becoming a Certified Public Accountant (CPA). Accounting clerks need only a high school diploma, as much of their training is on-the-job. However, employers prefer people with college or associate's degrees or proven math and accounting skills.