This has been saying the world is run by accountants. In some sense, it is true because every business needs to finance, the accountants are the people who control finance. The accountants are the people who work with figures and their minor error can cost a huge amount of money to any business. For the success of every business, it must contain knowledgeable and smart accountant. Also, as a profession, the accountant is a good career path. The qualified accountant from Cleveland can enjoy good earning and have reputed status in society. The role of the accountant is complex and somehow technical for every business. Their job responsibilities may vary as per business nature, but the core of the job is to maintain the accounts of the business.
The key responsibilities of any accountant are;
1. They need to record every financial transition of the company. Not financially per se, but to keep the end-to-end track of all the transactions. Because business earns revenue from their activities, so the accountant must have a complete record of activities from where the business has earned the revenue.
2. The business expenses are also recorded by the accountant. Every business needs to spend money to earn money. The accountant has to maintain expense vs. revenue report for the business. This will help to keep the accounting record of any business aligned as per their activities.
3. The accountant prepares, monthly, quarterly, and annual financial statement
4. They also designed the accountant procedures and process, to keep the close supervision of financial of the business. They need to have a close eye of all financial activities to prevent any fraud or theft.
5. Financial budgeting and forecasting for current or future business needs
6. Liaison with external parties like audit, taxation, or other associates for regulatory compliance
7. Giving financial advice to business managers as per the financial health of the business
8. Filing of tax as per regulatory compliance. Also, ensure that all the liable taxes must be paid on time
9. Preparing financial report and presentation for all business partners or other stakeholders
How to become an accountantThe education required to become an accountant is generally.
1. Accounting degree/Business Degree
2. Economics
3. CPA or ACCA
Accounting knowledge will help to know about the accounting methods, procedures, and implementations. Other than education, certain other skills are also necessary to be good and qualified accounting
• Understating the tax law
• Strong knowledge about accounting systems
• Professional business communication especially strong writing skills
• Strong business acumen
Accountant as a career pathThe accountant can enjoy a high level of earning if they are qualified and knowledgeable. In some countries, the accountant is one of the highly paid profession. An accountant does not need to be an employee to somebody, they can sell their skills as a freelancer also.