Accountancy is an important function of an organization. An accountant has to ensure that business firms and individuals are keeping good records and paying taxes properly and on time. Accounting comprises of four major fields including public, management and government accounting, as well as internal auditing. Individuals who wish to pursue their career in accounting needs to complete a minimum of a bachelor’s degree.
The accountant job description of a Public Accountant involves performing a broad range of accounting, auditing, tax, and consulting activities for corporations, governments, nonprofit organizations, and individuals. Public accountants can specialize in a particular domain such as tax matters, where the accountant has to advice companies about the tax advantages and disadvantages of certain business decisions and have to prepare individual income tax returns. Public accountant can specialize in compensation or employee health care benefits, or may design accounting and data processing systems or may choose to specialize in auditing financial statements. Public accounts are usually Certified Public Accountants (CPAs).
Management Accountant: The accountant job description of a management accountant involves recording and analyzing the financial information of the companies for which they work. Management accountants are also called cost, managerial, industrial, corporate, or private accountant. An accountant job description includes a detailed listing of responsibilities, such as budgeting, performance evaluation, cost management, and asset management. They are often involved in many areas that may include financial analysis, planning, budgeting, and cost accounting. They also take part in strategic planning or the new product development, where they analyze and interpret financial information that corporate executives require so as to make sound business decisions. They also prepare financial reports for stock holders, creditors, regulatory agencies, and tax authorities.
Likewise, there are Government Accountants and Internal Auditor Accountants can work for a company, or can be employed by an accounting firm, which would in turn be hired by a company for consulting. Most accountant job descriptions require a bachelor’s degree, at minimum, whereas others might include the requirement of a master’s degree or Certified Public Account (CPA) certification, obtained through a four-part, Uniform CPA Explanation prepared by the American Institute of Certified Public Accountants (AICPA). Apart from educational and technological requirements, strong interpersonal and communication skills may be required to communicate accounting and financial information clearly and concisely.