Accountants are people who prepare, analyze, and maintain financial records. Accountants can be employed by individuals, companies, or government agencies. Accountants possess strong problem-solving, organizational and communication skills. Many accountants work from home to have the flexibility and autonomy that comes with a career in this field. This article discusses some of the benefits this field offers. You can read on to learn about the career options and how to start!
Accountants prepare, analyze, manage, and maintain financial records
The profession of accountants focuses on preparing, analyzing, and maintaining financial records. Some accountants are experts in certain industries like law or government. Forensic accountants examine financial records of businesses and investigate financial crimes. They also assist with audits both internal and external. These accountants also look into financial crimes such as embezzlement, fraud on securities, and other illegal activity.
Most accountants work in an office environment. However, some accountants might need to travel to audit financial records or to visit clients. Accounting professionals may prepare tax returns for governments and other businesses, among others. Other duties include auditing financial records and creating budget data. Many accountants also perform general office duties. Listed below are some common jobs held by accountants. This exciting career path is available to you.
They work with individuals, businesses and government agencies.
Many people believe that an accounting career is only for those who enjoy analysing and organizing large quantities of financial data. Accounting professionals may have many responsibilities. But they also can be the chief financial officer, providing direction and advice to individuals, companies, and government agencies. As a result, many individuals pursue an accounting career in order to gain a competitive advantage in the job market.
There are many accounting career options. Each branch of the profession requires different education. Some jobs require additional education and certifications while others don’t. You need to be able to distinguish between the different roles in order for you find the one that suits your career goals. These are just a few examples of accounting jobs. You can choose from accounting jobs that focus on taxation, government accounting, or corporate accounting.
They have strong problem-solving, organizational, and communication skills
The Bureau of Labor Statistics tracks employment of accountants. There are many different types of accounting and finance jobs. These include tax preparation and accounting as well as manufacturing and government. Additionally, accountants are often familiar with spreadsheets, general ledger functions, and other software. Candidates should be good at communicating and interfacing with others, and have great analytical and problem-solving skills. Candidates must be able to see the details and have excellent organizational skills.
People who are interested in an accounting career need to know what their strengths and where they can improve. Whether an individual has a knack for math or a knack for problem-solving, these skills will serve them well in an accounting career. Accounting professionals spend a lot of time reviewing financial statements and balancing books. Strong communication skills are critical to being able to communicate with colleagues and clients.
They can work remotely
There are many work-at-home opportunities available for accountants and bookkeepers. You will need a computer, internet connection, and a dedicated phone line. You may also need a headset, a printer, and a scanner, although a multifunction device will likely save you money. An accounting software program will allow you to accomplish all the tasks.
FlexJobs.com is a great site to search for an accounting job. FlexJobs is a job board that specializes in remote positions, including entry-level, part-time and full-time accounting jobs. To get an idea of how it works, take a free tour before you commit to paying. FlexJobs also makes it easy to search for remote accounting jobs. Visit the company's site to learn more about its various services and features.
FAQ
What kind of training does it take to be a bookkeeper
Bookkeepers must have basic math skills such as addition, subtract, multiplication and division, fractions or percentages, and simple algebra.
They must also be able to use a computer.
Most bookkeepers have a high school diploma. Some even have college degrees.
What's the difference between accounting & bookkeeping?
Accounting is the study of financial transactions. Bookkeeping is the recording of those transactions.
Both are connected, but they are distinct activities.
Accounting deals primarily with numbers, while bookkeeping deals primarily with people.
To report on the financial health of an organization, bookkeepers must keep track of financial information.
They ensure all books balance by correcting entries in accounts payable and accounts receivable.
Accounting professionals analyze financial statements to assess whether they conform to generally accepted accounting procedures (GAAP).
If they don't, they might suggest changes to GAAP.
Bookskeepers record financial transactions in order to allow accountants to analyze it.
What should I expect from an accountant when I hire them?
Ask about their qualifications, experience, and references when interviewing an accountant.
You want someone who's done this before and who knows the ropes.
Ask them for any specific skills or knowledge that they might have that you would find helpful.
Make sure that they are well-respected in the local community.
What does it mean to reconcile accounts?
It involves comparing two sets. The "source" set is known as the "reconciliation," while the other is the "reconciled".
The source consists of actual figures, while the reconciled represents the figure that should be used.
You could, for example, subtract $50 from $100 if you owe $100 to someone.
This ensures the system doesn't make any mistakes.
What happens if my bank statement isn't reconciled?
You might not realize that you made a mistake in reconciling your bank statements until the end.
At this point, you will need repeat the entire process.
How much do accountants make?
Yes, accountants usually get paid hourly rates.
Complicated financial statements can be a charge for some accountants.
Sometimes accountants will be hired to complete specific tasks. For example, a public relations firm might hire an accountant to prepare a report showing how well their client is doing.
Statistics
- a little over 40% of accountants have earned a bachelor's degree. (yourfreecareertest.com)
- "Durham Technical Community College reported that the most difficult part of their job was not maintaining financial records, which accounted for 50 percent of their time. (kpmgspark.com)
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- Employment of accountants and auditors is projected to grow four percent through 2029, according to the BLS—a rate of growth that is about average for all occupations nationwide.1 (rasmussen.edu)
- According to the BLS, accounting and auditing professionals reported a 2020 median annual salary of $73,560, which is nearly double that of the national average earnings for all workers.1 (rasmussen.edu)
External Links
How To
How to be an Accountant
Accounting is the science and art of recording financial transactions and analyzing them. Accounting also includes the preparation of statements and reports for different purposes.
A Certified Public Accountant or CPA is someone who has passed an exam and received a license from the state board.
An Accredited Financial Advisor (AFA), is an individual that meets certain criteria established by American Association of Individual Investors. A minimum five-year investment history is required in order to be an AFA according to the AAII. To pass the examinations, they must have a good understanding of accounting principles.
A Chartered Professional Accountant or CPA (sometimes referred to simply as a chartered accountant) is a professional accounting who has received a degree in accounting from a recognized university. CPAs need to meet the specific educational standards set forth by the Institute of Chartered Accountants of England & Wales.
A Certified Management Accountant (CMA) is a certified professional accountant specializing in management accounting. CMAs must pass exams administered annually by the ICAEW. They also need to continue continuing education throughout their careers.
A Certified General Accountant, (CGA), is a member of American Institute of Certified Public Accountants. CGAs must take multiple tests. One of these is the Uniform Certification Examination (UCE).
International Society of Cost Estimators' (ISCES) offers the Certified Information Systems Auditor certification. Candidates for the CIA must have completed three levels of education: coursework, practical training, then a final exam.
An Accredited Corporate Compliance Officer (ACCO) is a designation granted by the ACCO Foundation and the International Organization of Securities Commissions (IOSCO). ACOs must possess a Bachelor's Degree in Finance, Business Administration, Economics, or Public Policy. They must pass two written exams, and one oral exam.
The National Association of State Boards of Accountancy offers the certification of Certified Fraud Examiners (CFE). Candidates must pass three exams with a minimum score 70 percent.
The International Federation of Accountants (IFAC) has accredited a Certified Internal Auditor (CIA). Four exams must be passed by candidates to receive certification as an Internal Auditor (CIA). They will need to pass topics like auditing, compliance, risk assessment and fraud prevention.
American Academy of Forensic Sciences gives Associate in Forensic Accounting (AFE), a designation. AFEs must have graduated with a bachelor’s degree from an approved college or university in any other study area than accounting.
What does an auditor do? Auditors are professionals who inspect financial reporting controls and audit the internal controls. Audits can be performed on either a random basis or based on complaints received by regulators about the organization's financial statements.