Attributes of an Accountant
An accountant is a practitioner of accountancy. He manages audits, develops and inspects the financial information necessary for the business plans. He is also responsible for analyzing financial information and for preparation of financial reports by compiling information, preparing profit and loss statements, and utilizing appropriate accounting control procedures.
The Basic Responsibilities of an Accountant are as Follows:
- Preparation of journal entries.
- Maintenance of balance sheet, schedules, ledgers, account and bank reconciliations.
- Business advice on the issues of cash flow management and the financial management using forecasts and business plans.
- Establishment and coordination of accounting control procedures.
- Business advice on how to mitigate tax for business investments.
- Analyze the revenue and expenditure trends in details to recommend appropriate budget levels and control expenditure.
- Assisting with monthly accounts analysis and financial audits.
- Auditing, bookkeeping, budget making and its control.
- Check on the profit and loss made by the firm, cash flow estimates, capital budget and profit ratio indicators.
An Accountant Provides Important Information on:
- Resources available with the organization for use in business plans.
- Means employed to finance those resources.
- Profits and loss made by the business plan.
- Consequent results of the financial decision on the business plan.
Main Job Tasks and Responsibilities That are Expected From an Accountant are:
- Maintenance of balance sheets and financial accounts.
- General ledger operations or bookkeeping work.
- Preparation of journal entries on a daily basis.
- Assist with preparations of monthly financial statements and budgets.
- Preparation of monthly financial reports and balance sheets.
- Assist with accounts receivable and accounts payable.
- Tax computations and returns assistance.
- Provide expertise in budgets and their forecasts.
- Help with payroll administration.
- Financial records preparation, analysis and their inspection.
- Implementing and maintenance of internal financial controls and procedures.
While conducting an accountant search the criteria of education and experience that needs to be fulfilled are as follows:
- Minimum education till 12th Grade.
- College degree from the Institute of Certified Public Accountants (CPA).
- Should have knowledge of accounting principles and practices.
- Clear concepts on knowledge of finance principles.
- Knowledge of financial reporting.
- Should have sound technical accounting skills.
- Previous practical experience of general accounting.
- The accounting aspirant must have undergone practical training by becoming an apprentice of some practicing fellow member of the institute for time duration.
- Expert in necessary accounting software.
Apart from these, he also develops annual operating budget and consults with departmental management on the fiscal aspects of program planning, salary recommendations, and other administrative functions.