Accounting Career

Every organization that deals in any kind of transaction requires the services of an accountant No organization, small or big can run without maintaining accounts. If you wish to be and accountant then you need to evaluate the present and future economic activities of the company and manage the funds and assets and liabilities of the organization

Roles of an Accountant in a broad sense:

Record business transactions

Prepare Financial Statements

Calculate cost and financial accounts

Calculation of computing cost and efficiency gains

Preparing tax strategy

Handling tax filing

If you have a knack for mathematics and desire to see a long tail of figures flowing down then you can select a career in accountancy. You must have an analytical head and a manipulative mind to be able to handle accounts of any organization.

Areas of specialization

The Accounting stream has many areas of specialization. Some of the popular functional areas are listed below:

Audit

{{If you wish to be an auditor then you would be required to check ledger books and financial statements. This is a completely computerize work. Audit is one of the most important functions of the accounting system. If you select a career in auditing then you would have theoretical and accounting subjects in your specialization.

Financial Accounting

As a Financial accountant you would have to gather information from the general ledgers to prepare financial statements. Financial accounts give in-depth information about liquidity ratio, equity ratio etc which help in determining the financial strength of the organization and help the business to take specific decisions  regarding acquisition , merger and other long and short term financial projections

Management Accounting

If you wish to be a part of decision making, handling capital budgets and work on business analysis the Management Accounts is the career for you. Superficially it all looks very simple and easy but you would have to handle cost analysis and contract analysis etc. All your efforts would be directed towards controlling expenses. As a management accountant your would be required to work together with marketing and financial managers

Budget Analysis

There are many job opportunities for Budget analysts. Your basic functional area would be to develop and organize financial plans You would be required to have competitive skills in calculations and also negotiation skills. As you would be involved in negotiations so you should also possess good communication skills

Income Tax

Tax accounting is interesting but only if you are able to understand the tax code and use them accurately. As a tax accountant you would be required to prepare corporate and personal income tax statements. You would also have the responsibility to build strategies for deferring taxes, when to expense items, how to approach a merger or acquisition, etc.