Accountants help manage, summarize, organize and interpret financial information for individuals and business so that they can record transactions properly and comply with laws. This article discusses the accountant’s job description and expected salary as well as primary duties, basic requirements and some FAQs.
Accountant Job Description
Accountants prepare appropriate records (or ensure that such records are prepared) and prepare appropriate analysis of financial statements, monitoring tax governance, and integrating such financial information with business strategy. This includes working in a corporate environment, in government agencies, non-profit organizations, and in public accounting firms. An accountant is detail-oriented, fairly astute at financial thinking, and is adept at various accounting applications.
However, accountants can also opt for more specific areas such as auditing, taxation, management accounting, or even forensic accounting, and the participants should possess various noted attributes. Regardless of specialization, one must be accurate, compliant and ensure confidentiality on all financial aspects.
Resume Description for This Job
As an accountant, in your resume, highlight areas in finance, analysis, and accounting software usage. Below is an example of an accountant resume description:
“Results-oriented professional with the focus on cost control, tax compliance, and financial statement preparation with an experience of [X years] in [X tasks related to accounting]. Advanced knowledge in [name a concrete program here e.g. QuickBooks, Excel or SAP] and competent in working with financial statistics to provide and evaluate business-related recommendations. Excellent communicator and organized person with a core focus on repetition and classification of tenor and finance operations within the scope of trust, confidentiality and the economy of time.”
Feel free to adjust software names or details to better match your experience!
Salary
The accountant salary will depend on the working years and the education acquired, industries and geography. Let us have a look at the average salary ranges:
- Entry-level Accountant: $50,000 – $60,000 annually
- Mid-level Accountant (3-5 years): $60,000 – $75,000 annually
- Experienced Accountant (5+ years with CPA’s certification): $75,000 – $95,000 annually
- Senior Accountant or Managerial level: $95,000 – $120,000+ annually
Accountants working in finance areas, technology, and healthcare as well as working in metropolitan regions will have salaries in the upper ranges.
Accountants who are qualified as Certified Public Accountants (CPAs) also tend to earn more than other accountants because of their skills and knowledge.
Accountants’ Responsibilities
An accountant’s core functions are dealing with finances of the company, directing business into financially sound choices. He has the following key duties:
- Preparation of Financial Statements: Producing balance sheets, income statements, cash-flow statements and other reports that summarize the results of financial activities.
- Payroll and Other Expenses Management: Making sure that employees are paid correctly and in time, and also controlling the business costs.
- Budgeting and Forecasting: Participating in the budgetary process and making budgetary projections based on data analyses for formulation of policies.
- Preparation and Filing of Taxes: Submitting tax returns, complying with various state and federal laws, being informed about current tax regulations.
- Auditing and reconciliation: Analyzing and adjusting accounts, assuring reporting accuracy as well as the detection of existing or potential errors.
- Financial analysis: Evaluating the financial performance of the business by trends and areas that would seem cost-effective and making management decisions.
- Record-keeping and compliance: Managing fact documents in a manner consistent with the requirements of the law and records to be produced during an audit.
Qualifications
The key requirements for becoming an accountant are education, operation of technical skills, and certification. The essential ones are:
- Education: It is evident that a bachelor’s degree in accounting, finance, or a related field is generally required. In some cases, especially in public accounting, a master’s degree may be necessary.
- Certification: The majority of accountants aim for a CPA license, achieved by passing the CPA exam and obtaining any necessary state-defined requirements. Depending on their specialization, some may achieve other certifications such as CMA or CFA which may be advantageous.
- Technical Skills: Necessary skills include experience with accounting software such as QuickBooks, SAP, Microsoft Excel, and tax preparation software.
- Attention to Detail and Analytical Skills: Accuracy is important for accountants who are responsible for the financial records, along with the interpretation of data where strong analytical skills come in handy.
- Communication Skills: A major role of accountants is to convey relevant financial information to people across the company or its clients or upper management which requires good oral and written communication skills.
FAQs
Q1: Do all accountants need to have CPR certification?
Not all roles of an accountant require a CPA certification. Nonetheless, a CPA can be beneficial in terms of job prospects and earning potential in a variety of fields, particularly those in public accounting and audits.
Q2: What distinct features set apart accountant form a bookkeeper?
Bookkeepers are generally concerned with the recording of transactions on a day to day and ensuring that papers and documentation have been kept correctly while accountants do analysis of different financial perspectives, offers, reports preparation, tax processing and others.
Q3: Are there any tasks in accountancy in which a person could work from home?
Yes, almost all accounting work can be done off-site because of the state of the art developments in cloud accounting software. However, some companies might still prefer employees to work from the office for reasons like meeting the rest of the team, or performing complex tasks.
Q4: What fields are associated with accounting that one may pursue?
In a typical working environment, accountants can further specialize into other open areas such as financial analysis, auditing, tax advising and management accounting. Senior roles include finance manager, controller, and chief financial officer (CFO).
Conclusion
To sum up, it can be stated that accountants are charged with the responsibilities of undertaking the management of and interpretation of financial information and data relevant to running the business and maintaining relevant laws. Having a good business sense, analytical ability and attention to detail, accountants assist organizations at all levels in managing and meeting their financial goals.