Accountancy as a Career; Roles, Skills, Pros and Cons Explained,
Accountancy as a Career; Roles, Skills, Pros and Cons Explained
If you are good with numbers and have analytical bent of mind, then Accountant is the career for you. Accounting is a good field to get into- if you have a high aptitude for mathematics, an eye for detail and accuracy in following strict rules and regulations.
Who is a Accountant
Accountants are people who analyze and organize financial reports. Its part of the work profile to produce and maintain error free records. Accountants assess the financial proceedings of the organization and ensure the timely payment of the taxes.
Types of Accountant(s)
Management Accountants: Also known as private accountant. They mainly work on the internal financial operations of the organization. International operation include budgeting, investments and performance evaluation.
Public Accountants: Their duties include tax, auditing, accounting and consultation. Majority of the clients are government organization.
Government Accountants: Ensures the efficient operation of the government organizations. They do auditing of individuals and private businesses whose activities are subject to government taxation, rules & regulations.
Roles of an Accountant
- Maintaining records
- Auditing of accounts
- Handling taxes
- Cost cutting and improve benefits
- Investment
Skills required to be an Accountant
Mathematical skill: Good understanding of the subject and should be able to interpret facts and figures.
Analytical skills: Should be able to analyze situation and provide solutions.
Communication skills. Should be able to communicate and must be a good listener.
Strong observation: Should pay attention to the minutest details.
Organizational skills: Must have good organizational skills.
Pros and Cons
Pros
- High pay
- Job satisfaction
- Excellent job security, regardless of the condition of economy
Cons
- Repetitive work
- Extended working hours
- High potential for human errors
- Strict working conditions
Accountancy as a
separate study of subject is taught from K-11 level onward. At college/university level Under Graduate and Post Graduate programmes are offered. Also many students chose to go for research in accountancy or obtain professional certification. Accountants as a professional works with Government and Private agencies. Many also chose to offer consulting as individual or firm. Work opportunities for professional accountants are continuous and high.
