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Job Description Of an Accountant | Duties, Scope & Salary4 min read

January 7, 2020 3 min read
accounting job description

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Job Description Of an Accountant | Duties, Scope & Salary4 min read

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There is a major trans­for­ma­tion in the eco­nom­ic sce­nario across the globe. First­ly, busi­ness­es and orga­ni­za­tions need to keep their finan­cial trans­ac­tions & eco­nom­ic activ­i­ties up-to-date. Sec­ond­ly, Man­age­ment makes the deci­sion based on finan­cial num­bers and infor­ma­tion.

In oth­er words, they need a lan­guage to ana­lyze all trans­ac­tions and events of a firm. As a result, there aris­es a need to man­age the finan­cial num­bers, trans­ac­tions, and activ­i­ties. Accoun­tants fill this impor­tant role. If you want to become an accoun­tant, this job descrip­tion of an accoun­tant has every­thing you need to know.

Also, find top Account­ing Inter­view Ques­tions and Answers.

Job Description of an Accountant:

There is a very promis­ing career in account­ing. Pri­mar­i­ly because there is con­stant flux in the finan­cial world. Sec­ond­ly, firms need some­one who can plan tax, man­age finance as well as over­see all the finan­cial and eco­nom­ic activ­i­ties.

For firms to func­tion effec­tive­ly, they need peo­ple who can take care of big audits and ana­lyze bud­get and cred­it. Also for keep­ing an eye on finan­cial devel­op­ment and sug­gest­ing man­age­ment with updates on finance and state of the econ­o­my.

Accoun­tants can fit this role and take respon­si­bil­i­ty to man­age the eco­nom­ic, as well as, finan­cial health of a firm. In fact, they can exe­cute their duties as a char­tered accoun­tant, senior accoun­tant, con­trollers, account man­agers, etc. The accoun­tant job descrip­tion in this blog con­tains every­thing to guide you to be excep­tion­al.

Search All Cur­rent & Upcom­ing Jobs. Click here to find over 4 Lakh+ Job Post­ings in India.

Scope of Accounting

There is a wide scope of account­ing in busi­ness and per­son­al life. Usu­al­ly, peo­ple think it is lim­it­ed to the finan­cial trans­ac­tion of busi­ness. How­ev­er, it’s not true instead, account­ing is the lan­guage of busi­ness. The accoun­tant job descrip­tion includes the scope in busi­ness, trade, gov­ern­ment, finan­cial insti­tu­tions, indi­vid­u­als and fam­i­lies.

Indi­vid­u­als and fam­i­lies have to man­age their receipts-pay­ments, assets, and lia­bil­i­ties. Sim­i­lar­ly, busi­ness orga­ni­za­tions need to oper­ate results and finan­cial posi­tions. Non-trad­ing enti­ties like school-col­lege, courts need to deter­mine income expen­di­ture and run admin­is­tra­tion prop­er­ly which requires prop­er finan­cial man­age­ment. Apart from them, pro­fes­sion­als like doc­tors, engi­neers, as well as advo­cates or actors have oblig­a­tions to man­age their earn­ing as well.

Find the list of jobs in Gur­gaon accounts here.

Job Description of an Accountant- Key Responsibilities:

Accoun­tants embrace huge respon­si­bil­i­ties to spin the eco­nom­ic wheel of firms. Their pri­ma­ry duties and respon­si­bil­i­ties include:

  • They pre­pare the finan­cial state­ments and records of an orga­ni­za­tion.
  • Pre­pare asset, lia­bil­i­ty, and cap­i­tal account entries by com­pil­ing data.
  • Rec­on­ciles finan­cial dis­crep­an­cies by com­pil­ing and ana­lyz­ing account infor­ma­tion.
  • Com­pletes account activ­i­ties and actions by ana­lyz­ing account­ing options.
  • Pri­mar­i­ly, they will advise ways to reduce costs and increase rev­enues & prof­its.
  • They must ensure all the tax­es are paid on time
  • Rec­on­ciles finan­cial dis­crep­an­cies by col­lect­ing and ana­lyz­ing account infor­ma­tion.
  • Secure finan­cial data by cre­at­ing back­ups
  • Con­vey the mes­sage to the share­hold­ers and investors the truth about the finan­cial state of a com­pa­ny.
  • Pre­pare spe­cial finan­cial reports for sev­er­al account­ing bod­ies.
  • Sub­stan­ti­ates finan­cial trans­ac­tions by enter­ing account infor­ma­tion.
  • Guides account­ing cler­i­cal staff by coor­di­nat­ing activ­i­ties and answer­ing ques­tions.
  • Rec­om­mends finan­cial actions by ana­lyz­ing account­ing options.
  • Doc­u­ments finan­cial trans­ac­tions by enter­ing account infor­ma­tion.

 Requirement Of an Accountant:

  • If you wish to build a career in the account­ing pro­fes­sion, you must have good qual­i­fi­ca­tions along with skills.
  • An indi­vid­ual must spe­cial­ize career in com­merce by obtain­ing a grad­u­ate degree (Bach­e­lor in Commerce/B.Com)
  • Join direct­ly as a junior accoun­tant after fin­ish­ing the cours­es.
  • Fur­ther, they can choose account­ing and finance as an hon­ors pro­gram for fur­ther career growth.

Key Skills of an Accountant:

In order to suc­ceed in any career, you need to have cer­tain skills. In fact, they will guide you to over­come dif­fi­cul­ties dur­ing work. The fol­low­ing are some of the key skills an accoun­tant must have:

  1. Report­ing skills
  2. Atten­tion to details
  3. Time man­age­ment
  4. Data entry man­age­ment
  5. Basic Math

Salary of Accounting Professionals:

The salary for accoun­tants depends on their spe­cial­ty and the com­pa­ny they work in. In fact, they enjoy a hand­some salary in India due to a boost in the econ­o­my. On aver­age, an accoun­tant at an entry-lev­el can earn up to INR 3.6 LPA.

More­over, with rel­e­vant work expe­ri­ence, this pay scale can go up to INR 6 LPA. How­ev­er, this pay scale can dif­fer as per the com­pa­ny and the loca­tion of the job.

Vikash Kumar Jha is a computer science graduate. He is interested in researching, reading, and writing on topics related to career & job search.