Nowadays, with the increasing number of businesses, we need to find someone who will take care of incomes and taxes. It is extremely important to have a person like this in the company, to give them responsibilities in this area. That’s why there are accountants, or even the whole accounting departments! This article is a complete accountant job description. We will explain to you the duties of accountant, characteristics of this job and how much you can make on taxes.
What is an accountant?
Starting with common stereotypes, an accountant job is no longer about only dealing with big figures. Actually it is still taking care of the budget, but also about tax law, accounting liquidity of the company and financial reports. This is a big responsibility, to not only fulfill duties, but also to still be up-to-date with changes in the tax law to keep balance sheets in order.
How to become an accountant?
Formal requirements may vary between countries. However, usually you must finish a business school or get a bachelor’s degree. It usually takes an average of four-five years. A freshly made bachelor’s degree in accounting is typically not enough in most countries. Courses, extra studies and practical experience are highly recommended. Accounting jobs are all about making progress and learning for all of your career. If constant studying is tough for you, accounting will be a nightmare!
What skills are required?
Due to the responsibilities of an accountant, basic math skills are important but, you don’t have to be a genius. More important is actually competence in analyzing figures, than counting them by yourself. For now, accounting is based on computer programs. We can even say that paper, pens and calculators are rarely used. It is not only about using tools to create analyzes but to demonstrate them to the team, create solutions and organize future work. To sum up, four words in the accounting world: creating, analyzing, demonstrating and resolving.
Daily duties of an accountant
As it was said, accountants need to report all their work to their principals. Job description for an accountant depends on the type of work we choose (stable company or freelance, expectations from the employer). Usually it looks similar, consisting of reports of incomes and outcomes of the company, profits and losses, preparing budgets and daily transactions, to fix cash flow problems and create forecasts. Having all the taxes and returns on their mind. When the monthly budget is ready, they need to supervise all the payments to be done on time. When the settlement period is coming, they make all the tally to close it on time.
Working system
Accountants have a lot of options of what working system they want to choose. It can be being employed in a company, a typical nine to five job, or they can pick to be an accountant freelance, meaning taking a few commissions from different constituents, working whenever and wherever they want to.
From beginner to senior
Beginner
Early career begins after proper education and lasts about 1-4 years. This is a time for implementation in a professional area. Beginners usually have to do a lot of hard work and sacrifice a lot of time for work. It is the best time to discover your future career path and fine working system.
Middle
Mid-career starts shortly after that. Salary can increase, experience gives a chance to look for more opportunities and being able to take other commissions. This is actually the longest period of time in the career. It depends on the ambitions of the worker, to be an average accountant until retirement or reach for senior accountants jobs. At this stage of career, you can think about building your personal brand and opening a company.
Senior accountants jobs
Becoming a senior in work is usually associated with promotion. Your salary will probably rise, and the position in the company should be stabilized. It is of course true, but only partly. Having all the experience seniors are still obligated with reaching progress and maybe pass their knowledge to the others, beginners. Senior accountants often are team leaders.
Executive accountant job description
Accountants can pick lots of career paths. Being a freelancer, working in a company or own firm. Big institutions have departments responsible for finances. Managers, who are typically experienced accountants being able to manage a team of people, take actions and reach a decision. If you have good social skills, it might be interesting to you.
Accountant salary
Accountant salary depends on the qualifications and experience. Salary includes base, bonuses and overtime pay (of course capability of taking more tasks at one time) Like in the other jobs or occupations, income depends on the place we are working and demand on the specialists in a given region.
Reality in some countries
United Kingdom
For instance, in the UK the average salary for an accountant starts from 34,782 GBP to 43,525 GBP per year. According to common information, the UK has a lack of skilled professionals in this field, so finding a job with great earnings doesn’t seem that hard.
Germany
Staying in Europe, in Germany a starting accountant may earn 45,000 EUR per year but as a senior’s income can reach even 80,000 EUR a year. In this country, getting a complete bachelor's degree is not enough. Employers usually prefer experience and courses.
Japan
In Japan, it is 5 000 000 JPY per year on average. In this country, working in the office is not as popular as in Europe. Even being an accountant employed in the company, you actually work on similar bases like a freelancer.
United States of America
Taking the USA for example, in New York an accountant is able to earn about 70,000 USD per year. Working system in the USA is the opposite of Japan. One company, one office, one target.
Perspectives
Accounting is all about progressing. There is no other way to become a specialist in this profession. We are talking here about being up-to-date with all the law regulations, trends in planning budgets to be able to offer new solutions in companies we work with. Experience and hard work will pay off in salary and reputation on the work market. In our opinion, this job has great potential, as every business needs it.
Let's sum up. Being well organized, having great skills in communication and being a self-sufficient person can give a great basis to find a path in accounting. Hard work starting from proper education to dive into working life can result in a good salary and mastery in business. Maybe you should treat it as an investment in a better future?
