An accountant is a person who job for keep or inspect financial accounts. An accountant is a professional who performs accounting functions such as audit or financial statement analysis. Accountant either can be employed with an accounting firm or a large company with an internal accounting department. Or they can set up an individual practice. Accountants are given certification by national profession association after meeting stat specific requirements, although non-qualified person can still work under other accountants or independently.
Accountant can have more than one classification and may perform multiple types of accounting duties. The type of educational background and denomination that an individual has will determine his or her professional duties. Accountants have a bachelor’s degrees and may need to get a certificate. Certified public accounts have legal responsibility to be honest and to avoid negligent in their duty.
Institute of charter accountants of India is the national professional accounting body of India. It was established on 1 July 1949. ICAI is the second largest professional accounting and finance in the world. It works closely with the government of India, reserve bank of India, and securities and exchange board of India. The government also take suggestions form ICAI as expert advice and considers it favorably. ICAI presented and approach paper on issues in implementing goods and service tax in India to the ministry of finance. In response to this ministry of finance has suggested that ICAI take lead and help government in implementing goods and service tax (GST).
Becoming an accountant required high education, advance education and formal certification and firm commitment to learning the trade.
Most accountants attend college and earn bachelor’s degree. A bachelor degree in accounting or related field considered the minimum education requirements for those who plan to become an accountant. Many accountants also continue their post-secondary education and earn a master degree.
Virtually all accountants specialize in one or more areas of practice. The two general areas of specialization are public accounting and corporate accounting or business accounting. A number of sub specializations also exist, such as environment accounting, internal auditing, managerial accounting and taxes.
Before you graduate, try to get accounting internship or try to get some experience to pump up your resume. Take the necessary step to create your resume and signup for a carrier-focused social media platform such as LinkedIn.
Once you land your first job, it’s time to sit back and enjoy the ride after hard work of the collage. Now is the time, however, when you should be thinking about next step you will need to move the carrier ladder. Earning a certification an accounting specialization or master degree in accounting could help boost carrier climbing, it’s something you may want to look down the road.
Many people enter accounting because it is seen like it’s a financially stabled carrier. In every business, daily journals, ledgers, bank re-conciliation statement, profit and loss statement and income and balance shit present an unbiased picture of a financial position of an organization.
Further, accounting helps a business, venture or nation plan, control and execute their budgets and expenditure, forecast revenues and turnover, purchase new assets or take on new liabilities, monitor financial health, take decision with regard to personal hiring or recruitment and regular growth of economy.
The top salary for an accountant, not being chartered accountant, could go up to Rs. 4, 87,303 a year.
There is steady and an assured growth for an accountant over the progression of their carrier. Experience affects accountant salaries markedly.
The highest growth can take place during the middle to late-carrier milestones.
While females made up for only 5% of those in the profession, males made an abnormally high 80%.
Degrees in accounting are available at associate, beholders, masters and doctoral level via traditional level of campus based learning and online course. Each level of degree can lead specific opportunity of graduate, ranging of entry level clerk and assistant of an academic professorship.
Student often choose to concentrate on specific areas like auditing, taxation, or even forensic accounting.
The world of auditing is fascinating and diverse branch of that allows those who specialize their work on many different type of projects. Operating as a monitor of business integrity and ethics, auditing is concern with ensuring companies are held to financial standards. Specific topics students can expect to focus on include business law, accounting research methodologies and forensic accounting.
Auditor typically shift to existing financial records to help individuals, companies and governmental organization rest assured that they have successfully followed any tax laws that their company type may fall under.
By concentrating learning on taxation theory, student will gain multifaceted knowledge of practices and procedure associated with taxes for individuals and many type of organizations. There are specific topics in taxation:
For students interested in ethics and fraud investigation as it relates to accounting practices in forensic accounting will put them in the center of action. Three type of work related to forensic accounting.
Many people choose their profession as an accountant because, as an accountant they feel their carrier as financially stabled. The average salary of accountant per month is 16,700. An entry-level financial accountant with less than one year experience can expect to earn average total configuration of RS.304, 102 based on 57 salaries.
Employees with financial accounting in their job can earn in average of 36.6% in Delhi. In Mumbai, Maharashtra 27.5% more and in pune, Maharashtra 18.4% more salaries can provide for an accountant. The lowest salary can be found in Kolkata, west Bengal 24.4%less and Tamil-nadu, Chennai 13.4% less.
The field of accounting always remains in demand for every business object. Accountant is needed in every industry. It is like a backbone of every business. It is one of the respected profession in the world. Choosing your profession as an accountant is not a bad choice of career growth.