How to Become an Accountant?

Finance is an integral part of any business. An organization thrives on the movement of money in and out and there is always a need for skilled professionals to handle these critical money affairs efficiently. This is where the role of an accountant holds prominence.

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They maintain all financial records for both individuals and organizations, including tax computing, bookkeeping, etc. If you’re interested in finance and accounting and see yourself following it as a career path, this blog shares complete details on the Accountant career path.

Who Are Accountants?

Let us begin by briefly defining who an accountant is. Simply put, accountants are skilled individuals who are responsible for dealing with all financial matters for an individual or an organization (brand), such as handling receipts and payments, salary processing for employees, and computing taxes, among more. In other words, accountants analyze and maintain financial records for their clients.

They are responsible for performing accountancy-related tasks such as preparing financial documents like profit and loss statements, handling bookkeeping, maintaining balance sheets, preparing financial reports for tax purposes, and doing audit books. Let us look at some of the key roles of an accountant in the next section.

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Role Of An Accountant

Accountants are expected to perform the following duties for individuals and organizations on a day-to-day basis:

• Meeting deadlines for all financial reporting
• Gather and update the financial information of an organization and ensure that the data adheres to all legal policies and requirements
• Analyze financial data in case of discrepancies
• Prepare and maintain financial reports used by the management to design and execute financial policies for the company
• Offer financial advice on various daily operations of the business such as financial commitments, revenue trends, and expectations for revenue in the future

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Types Of Accountants

Some of the most popular types of accountant roles are listed below. You can choose to pursue any one of the following accounting jobs after clearing the required exams and passing as a certified accountant:

1. Forensic Accountant: Responsible for evaluating financial statements and records that can be used later as evidence
2. Cost Accountant: Offer assistance to organizations in studying, supervising, and analyzing cost purchases and expenditures therein
3. Certified Management Accountant: Offer support to large organizations and high-end clients in various financial aspects, such as planning of financial statements and taxation
4. Management Accountant: Helps maintain financial books of large organizations and is involved in bookkeeping duties in the company
5. Investment Accountant: Prepare investment reports every month and ensure timely circulation of reports to the top management and other stakeholders

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How To Become An Accountant

Listed below are the steps to be followed to become an accountant:

• Gauge the desired skills to follow this career path. These include attention to detail, communication, and making logical decisions.
• Take formal training. To pursue an accountant career after 12th, you can take up a Bachelor’s degree in Accounting, Commerce, or a related domain by appearing for an entrance test.
• Continue with a specialized certification course in finance or accounting to stay on top of the game and relevant to the industry, thereby boosting your career prospects.
• Create a resume highlighting your top academic and professional achievements.
• Focus on gaining practical hands-on experience to apply the skills learned during the degree or certification course.
• Find a suitable job relevant to your skills and accounting knowledge and start applying.
• Start a full-fledged career in accounting.

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Skills Required For Accountants

Some of the top skills required to become an accountant include:

1. Leadership ability
2. Honesty and transparency
3. Attention to detail
4. Adaptability to different situations
5. Organizational skills
6. Effective written and verbal communication
7. Time management

Top Jobs And Salary Potential For Accountants

Many accounting recruiters look for skilled professionals in the domain to fill the following job roles:

• Forensic Accountant: Rs 10 lakh per annum (approx)
• Cost Accountant: Rs 6.25 lakh per annum (approx)
• Tax Accountant: Rs 5 lakh per annum (approx)
• Auditor: Rs 7 lakh per annum (approx)
• Chief Financial Officer: Rs 55.3 lakh per annum (approx)

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Summing Up

Accountants are important personnel in any organization, playing a critical role in every industry. They are responsible for handling all financial matters for an organization and overseeing its overall financial health.

To pursue a career in accounting, you need a combination of the desired education, skills, and work experience to get started. You can also up your skills by pursuing an online professional course or certification in accounting, finance, or a related domain from Amity University Online.

The university offers a wide array of choices among Certified Management Accountant (CMA), Certified Public Accountant (CPA), and other related certification courses online to enable students and working professionals to upskill to industry-desirable knowledge in the domain.

They also help develop a strong understanding of key tools and accounting software such as Excel or QuickBooks, along with other necessary skills like attention to detail, analytical ability, and ethical judgment.

Moreover, networking forms an integral part of any industry; therefore, online accounting courses by Amity provide students with ample scope for professional networking within the industry. This enables students to find higher-paying job prospects and look forward to career advancement opportunities.