Accountant Job Description

Accountancy is a profession that covers a number of finance related activities, such as cost accounting, property accounting, revenue accounting, etc. apart from recording day-to-day financial transactions. In addition, there are laws such as the corporate laws, and Tax laws under which the financial reports have to be filed with the authorities within specific time. At beginners level, accountant`s job involves voucher preparation, filing it with supporting documents, feeding the vouchers in the computer, posting it under a specific account head, classifying as income or expense, or asset or liability, as the case may be, preparing trial balance, profit and loss account, and eventually balance sheet from this information. These are the functions of junior accountants, accounts assistants, and new accountants.

Next in line is the staff accountant. Staff accountant is very well acquainted with accounting policies, standards, and auditing policy and auditing standards. It is the duty of staff accountant to provide the accounts to senior accountants in time for audit. In small organizations, staff accountant may well be the junior accountant. In larger organizations, however, they have more than one junior accountant working under them.

Senior accountants analyze this data and take decisions based on them. For example, if at any point of time, the business is left with surplus cash, and it may remain idle for quite some time, then the senior accountant may suggest some method of earning on it like investing in some government bonds. Senior accountants are also responsible for complying with legal requirements, including tax rules, and audit rules. Budget preparation and future planning are part of the job of senior accountants. Based on the specialized functions being carried out by senior accountants, they are further classified into different categories. It is public accountants who use data generated by staff accountant and present it in a manner stipulated by the company law authorities and stock market regulators. In small sized business the senior accountant or staff accountant may do this function. Likewise, tax accountants use the data generated by staff accountant to arrive at the taxable income, and tax payable. Tax accountants also report on other forms of tax such as sales tax, and help in tax planning.

Some businesses have a few but crucial clients. A special accountant may be employed exclusively to deal with such client or clients. This accountant is known as key accountant. Similarly, when a company undertakes various projects, each project has its own accountant, who is responsible for keeping record of financial transactions of the entire project. He should have in-depth knowledge of such form of accounting. Property accounts require different type of skill set, and it is also a specialized branch of accounting. Senior accountants who do in-depth analysis of the business`s finance, such as how much it costs to manufacture one unit, are known as cost accountants. Accountants specializing in corporate accountants are known as corporate accountants. Accounts of business enterprises are different from accounts of organizations such as schools for which school accountants have to be recruited. Accounting requirements in government services are also different, and therefore, only the person who has the required knowledge will be eligible to be a government accountant. Macro level accounting professions include national accountant`s job, which covers the nation`s data and is more statistical in nature. Management accountants are those senior accountants who manage daily business by ensuring adequate working capital is available for smooth functioning of business. Financial accountant is actually a senior accountant who analyzes any new business proposal and projects its cash flows. The senior accountant under whom all these types of accountants are clubbed is known as chief accountant. There are recognized bodies conducting tests on accountant`s knowledge and skills. An accountant recognized or certified by such a body becomes certified accountant. In the United States, accountants appear for the Uniform Certified Public Accountant Examination, and become certified. These accountants are conversant with all aspects of accounts and audit.