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The Important Role of An Accountant in Business

Every business and organization rely on an accountant to take care of their financial statements and record their business transactions. He issues financial statements and makes annual financial reports for the company. He is a professional who is employed to make financial statement analysis and audits. The accountants usually work with an accounting firm or set up their own office to practice accountancy. 

Becoming an Accountant

It requires hard work and dedication to become an accountant.  An accountant is expected to carry solid knowledge based on a well-planned education. The basic requirement is to get an accounting degree which comprises of mathematics and accounting practices. As accounting is linked to information systems and technologies, the accountant is expected to be well versed with computer and information technology. Today’s accounting programs are based on a well-balanced program that provides a good foundation. Apart from carrying the knowledge of their field, the accountant is expected to understand the other aspects of business management. He should know how to make presentations, conduct research and employ critical thinking.

Accountants need to complete their education and meet state-specific requirements before they are certified by national professional associations. He can pursue certification from a prestigious institution. Certified public accountant (CPA) designation is the most respected designation for an accountant. However, an accountant can have several designations and can carry out different accounting duties in various fields and organizations. However, they need to complete bachelor’s degrees and get a certification that meets the state requirements.

Career in Accounting

Thanks to the growing demand for accountants, there are different specializations available for these professionals. There are endless career options and bright future in this profession. Most of them often work as simple accountants with local firms. Others look for more opportunities and challenges with more prominent firms and financial organizations. They can further specialize and work to gain higher positions in management. At times, accounting firms offer external services to business clients and hire accountants to look after the auditing functions. Many accountants often work with government and non-profit organizations.

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Accountants are Involved in Both Public and Private Accountant as Well as Internal and External Auditing Procedures:

  • Public and Private Accounting: Accountants often choose to work in public or private realms and accept employment within the local business community. As public accountants, they are expected to analyze accounting records and financial statements, prepare tax returns, analyze budgets, examine business operations and make long-range tax plans and file financial litigation cases. Private accountants work with large multinational firms in different industries like banks, business consultation, energy, real estate, and healthcare. Accountants can decide to specialize in specific industries and reach a higher level of financial expertise. 
  • Internal and External Auditing: Accountants perform audits on an internal or external basis, and the motive here is to improve the operational efficiency of inorganization. They work towards the validity of financial practices of a company and identify any misrepresentation or waste. The purpose behind the audit is to improve the efficiency and ensure the accuracy of financial reporting, company assets, and regulatory compliance. They work towards a dynamic business environment that is both progressive and competitive. Internal and external auditing procedures related to financial matters and business operations on a daily basis.

The Government Accountant

Accountants working for the government face unique challenges and get special opportunities in their field. They work in different units of government and often have complex financial relationships. Some accountant specializes in government accounting and has experience of working in federal, state, and municipal departments. Some of the government offices where the accountant’s work includes Securities and Exchange Commission, Internal Revenue Service, Federal Bureau of Investigation, General Accounting Office and state and municipal offices.

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