Accountants provide financial advice to clients that range from multinational organisations and governmental bodies to small independent businesses and individuals. Accountants often specialize in particular areas of practice, including audit, management consultancy, recovery, forensic accountancy, taxation, assurance and corporate finance.
Through this article we try to examine the most important aspects of this job, based on our own market analysis.
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Through our analysis we gathered information about Accountants around the globe, here are some of the most relevant insights we drew:
The job of an Accountant involves a diversified set of skills, ranging from Finance, Audit, and Bookkeeping which are the foundation for the job, to Budgeting, Cash flow management and Banking.
Below we try to explore some of the most relevant skills for this job.
- Bookkeeping: The recording of financial transactions, which is an important part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. Accountants are in charge of tracking all financial transactions of their clients, which makes bookkeeping a core skill for them and an important part of their duties.
- Cash flow management: The process of tracking how much money is coming into and going out of a business. This helps predict how much money will be available to the business in the future. It also helps you identify how much money the business needs to cover its debts, like paying staff and suppliers. Accountants are often in charge of tracking their company's cash flow and making forecasts for the future, this is essential for keeping suppliers happy, respecting tax payments, meeting all lending obligations, etc.
- Financial reporting: This is the process of producing statements that disclose an organization's financial performance and financial position over a specified period of time to the various stakeholders (investors, creditors, public, debt providers, governments & government agencies, etc.). Accountants are often solicited to participate in preparing these statements whether externally or internally for governance and investment performance review.
- Budgeting: It's the process of creating a plan (budget). to spend money. Budgeting is used to prioritize spending and keep focus on the most important things, it helps determine in advance where the money should be allocated. Accountants have an important role to play when the person/company/organization they work for is working on their budget. They need to provide accurate information expenses, revenues, taxes, etc. to estimate the available budget to spend and keep their client's financials on track.
After talking about some of the most important skills for Accountants, it's time to check out the companies with the most paid paths for these profiles. Through our analysis, we create the chart below ranking the top 10 companies for Accountants.
Now it's time to examine the early beginnings of Accountants and see how they kicked off their careers. Below are some of the most common first jobs for these profiles as revealed by our analysis.