How Much Do Accountants Make?

Accountant Job Description

So, what do accounts do? Accountants prepare and examine financial records, both manually and electronically. In the process of doing this there are some key duties that include:

• Checking financial records for accuracy and legality.
• Prepare tax returns and ensure tax payments are made in a timely manner.
• Check accounting procedures for efficiency and accuracy.
• Organize and maintain financial documents and records.
• Make suggestions on ways to reduce costs, improve cash flow and improve the bottom line.

In addition to being responsible for maintaining records, accountants are also expected to report on their findings. This means attending meetings, preparing written reports and adding notes to the accounts.
There is a need for some social and people skills. Although accountants do a lot of their work alone, when communicating to others in the organization they are required to be clear and concise. Mistakes in communication can prove to be costly and time consuming.

Public Accountants

Public accountants work with clients to prepare their public documents that they have to disclose by law. This includes balance sheet statements, tax forms, and other documents that potential investors would need to see.
They usually work for accounting firms, or have their own practice. It’s a legal requirement for publicly traded companies to have CPA’s sign off their documents as true and accurate.

Management Accountants

Management accountants prepare financial information to be used internally by a big organization. It’s not intended to be viewed by persons outside of the business, and the information is used to aid with forecasting, profitability, and targets.
They also help the business with budgeting, performance evaluation, and highlight ways companies can cut costs and improve margins.

Other Defined Accountant Roles

There are other roles for accountants that differ from those above, and each accountant’s career path can have a very different progression. Financial accountants deal with only the financial side of the business, nothing to do with the management accounting.
Government accountants work exclusively for the government, maintaining and auditing the records of private businesses that are subject to government regulations.
Auditors also do a lot of accounting work, and the two careers paths are often closely linked. To audit financial records you need in depth accounting knowledge, to audit accurately the work the accounts have prepared.

Career Outlook Of Accountants

According to US government projections, there is expected to be a 10% growth between 2016 and 2026 in the accounting profession. This is about average for all professions, and adds some stability to the profession.
The best prospects are for those who are fully qualified. Certified Public Accountants are always in demand, and with corporate scandals on the increase, extra scrutiny is expected in the future.
The continued growth of business worldwide is also expected to lead to an increase in demand for accountants. With a need for every business and organization to have accurate and up to date financial records, the prospects for skilled accountants is always going to be very good.