Accounting is the practice of maintaining the financial transactions of an organization in proper format. There are certain universally accepted standards, procedures and practices applicable for accounting, conferring to which accountants prepare the accounting statements. This is a responsible task of maintaining accurate financial details and compute proper amounts of profits or losses for the organization. If you are one of those seeking jobs in this interesting field, here is some career advice for accounting jobs.
Career Scope
Accounting and finance has wide scope in future. This is one field, which will always be in demand, as the demand for this field is not depended on any current technology, trend, needs or fever. Accounting profile has relevance in every industry as maintaining financial aspects accurately are a necessity everywhere.
Qualifications
Certain qualifications are common in accounting jobs. Moreover, some of the qualifications are mandatory to gain the authority to perform duties. One can gain Diploma, Degree, Masters or Professional Certifications in any of the following fields
- Accounting and Taxation
- Financial Management
- Certified Public Accountant
- Chartered Management Accountant
- Cost And Works Accountant
- Audit Procedures
Job Fields
There are different job fields within accounting profile that job aspirants can choose. Each job profile varies in its responsibilities, requirements and scope. Job seekers can select any one field to specialize, depending on their interests.
- Tax Consultant
They handle the taxation aspect of accounting. They help their clients compute the right amount of payable tax. They assist in submitting documents and discharging duties towards the tax authorities.
- Financial Analyst
These professionals are concerned with reading and analyzing the financial documents. They study the different financial reports, statistics to compute the recent and future financial trends. These analysis help prepare the financial plans.
- Audit
Audit procedures involve checking different financial reports and documents. They verify the contents for accuracy, legality and authenticity. Their role is utmost important as their signature on the document proves the documents as correct, factual and legal.
- Accountants
Accountants can specialize in different roles. They can have expertise in handling accounts related to payable or receivable transactions, assets, banking, payroll etc. They maintain accounts in appropriate formats and maintain the relevant documents to make accurate calculations.
- Cost Analysis
These professionals analyze the different costs involved in manufacturing process. On basis of their analysis, they suggest ways of decreasing expenses and increasing profit margins.
Key Skills
Accounting jobs are characterized with certain prominent skills. The nature of accounting jobs is such that these skills are mandatory to ensure perfection in work. It is essential to inculcate the given skills within your work profile to ensure ease and comfort in executing tasks.
- Knowledge
One needs to have accurate knowledge about the relevant accounting policies, procedures, principles, formats and standards to ensure legality and accuracy within the documents.
- Calculations
An accountant is required to make quick and accurate calculations. They need to have expertise in compiling the numeric data together and calculating them properly to draw proper numeric calculations.
- Analytical and Problem Solving
Accountants need to be good at analyzing the data and drawing conclusions from them. Accountants have the task of increasing profits for the organization and reducing expenses. They need to have excellent problem solving skills to bail out the organization from financial crisis.
- Attention to Details
Calculations and statistics require keen attention to detailing to ensure accuracy. It is necessary to have methodological approach to calculations to avoid miscalculations and misinterpretations.
Salaries
Accountant working at higher level and those handling taxation and financial management aspects earn up to $61000. Bookkeepers and clerks earn up to $35,000, while the salary earned by auditing clerks can go up to $50000.
Given here is a brief description of accounting job profile and scope. Additionally, accounting aspirants can go through the different key requirements and sub areas of this field. We hope we have been helpful in giving correct career advice for accounting jobs.
