Just like the legal and medical profession, the finance profession is complex and extensive. Thanks to the depth of these fields, that jobs are created due to the growing need of more skilled employment!! The plethora of career opportunities that finance and accounting fields present is amazing. One of the careers that is regarded to be a traditional career and has been in existence since ages, is that of an accountant. Undoubtedly, the job has gone through various changes and has evolved with time but still, they form an integral part of every firm.
Job of an Accountant
They are the key people who are linked to almost every financial transaction of a firm and they're involved in maintaining important accounting and bookkeeping procedures. No wonder the purpose of accounting can never be achieved by firms if there are no skilled professionals in this field. Maintaining balance sheets, an important financial copy for companies, forms the most important work of accountants. This field is so vast that there have been branches of accounting that individually deal with each of the areas. These careers in accounting can help aspirants to choose various careers amongst all the vast career options.
Duties
The most important duties of an accountant include analysis, recording and reporting of a company's or an individual's financial status. also act as an adviser to clients and review their financial statements, thereby analyzing the pros and cons of any business deals with a prospective client. By maintaining daily/weekly/monthly/yearly records of the transactions in ledgers and record books, they help firms end a fiscal year. The duties of these professionals is as follows:
- Assist the accounting and financial experts in budgetary and accounting policies.
- Draft plans and accounting statements for presentation to the board of directors and chief financial officer of the firm.
- In case of mergers and acquisitions, advise the firm by studying the merits of the financial transactions, based on the scientific principles.
- Help the government and institutions in checking the accuracy of the information given in financial matters.
- Prepare financial reports in case of asset management investments.
- Excel in the use of computer accounting principles and use them often.
The salaries depend on the chosen field of working, work experience and the educational degree in this field. According to a research, the salary in the 2009 was nearly USD 40,000. The salary range is greatly influenced by the type of employer. For instance, people working for the government and federal field earn the highest salaries while those in NGOs, earn less than others. Overall, the salary has been nearly USD 70,000 and the lowest salary has been USD 30,000. Work experience plays a significant role in deciding an accountant's salary.
The salary range, as we can see, ranges between USD 40,000 to USD 50,000 and this is a fairly decent salary range for accountants with graduate and postgraduate degrees. The career development path for accountants is excellent and the depth in this field is limitless. You can choose any one particular field and go on to excel and gain expertise in this field. All the best!
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