An accountant is a key person in any business or organization. He is a practitioner of the discipline known as accounting or accountancy. He is the collector, measurer and analyzer of financial data which helps his organization to take financial decisions. Some people have this belief that an accountant’s job is simply adding/ subtracting the income, expenditure of an organization.
Compilation and analysis of financial information to make entries in accounting related books, such as general ledger book. He should also check the documentation of a business transaction.
- Making regular journal entries
- Keeping track and analyzing banking transactions of the company
- Taking care of sub-ledger accounts (for example inventory).
- Contributing in payroll processing
- Putting together a monthly report of sales in an appropriate format for analysis
- Checking and verifying business contracts, product orders, and vouchers.
- Preparing reports prior to settlement so that individual transaction goes through without any problem.
- Monitoring all financial activities to make sure they are complying with all regulations, tax laws, and company laws.
- Review financial entries, reports and business documents, from time to time to filter out any errors or inconsistencies.
- Giving early warning and advices of problems such as cost over-runs, extra charges which could be avoided, potential penalties and unnecessary expenditure. Different models should be built that depicts financial and other related activities customized for separate occasions.
- Will be trained in the course of the job for other fitting duties.
The person who can be considered ideal for the job of an accountant is the one who possesses both functional and few personal skills. Functional skills cover the educational and technical qualifications required to perform the job. On the other hand personal attributes indicate to the attitude and behavior of the candidate in different situations that determine the success and failure in the position. Functional skills include-
- Minimum Bachelor’s Degree in Accounting or a connected stream.
- To professionally work as an accountant one needs certification
- A Master’s Degree in Accounting or Business Administration will be a great advantage.
- Certain amount of working or internship experience
- Training and certification focusing on specialization
- Proficiency in computer and accounting software use
- Analytical skills with an eye for details
- Good skills in communication
- Quick in decision making and problem solving under pressure
Most accountants will work in a typical office setting. Sometimes they can work from home. On some occasions he will have to travel to work in multiple locations such as the branches or other facilities of the organization. During the financial year ending period, the work load increases.
Tips for the work
- Decisions should be made on logic and facts not impulse
- Analyzing and controlling risk factors
- Tolerance for stress
- Integrity and ethical practice
- Willingness to learn new things and staying updated
Exploring the various aspects related with an accountant will give us an idea about the gravity and demands of this job.