Accountant

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Accountant

Accounting is an organised way to keep records of business and financial transactions to analyse, verify and report financial results. It is a blend of many fields such as Commerce, Finance, Business Administration, Banking and Insurance. These fields merge together to help users of accounting information become reliable in making company financial data. It is the process of keeping financial accounts to estimate economic activities of an organization and forwards the related information to investors, creditors, management and regulators. It is a crucial part of managing payroll in auditing and financial management. The study of financial data can be done by various software tools, which gives you a better insight in assessing the amount, uncertainty of cash flows based on IFRS standards. Accountants are in demand in each and every sector whether it is educational, industrial, small and big scale industries.

Job Profile

Accounting is an emerging field of commerce and career prospects in this field keeps on increasing according to the market requirements. An Accountant’s main job is to keep a track of financial accounts and economic activities of an organization. He plays a key role in auditing and preparing annual reports, assets by collecting related information from Investors by using various tools to analyze the required data. He reconciles discrepancies, verifies, and allocates to produce error-free accounting reports to higher officials. His job schedule is very hectic. He will always have a tough time and deadline during peak months from January to April. He works solely or with his team according to the work requirements.

Different job roles in accounting fields are financial controller, financial analyst, Financial Manager, Financial Advisor, Chief Financial Officer, Certified Public Accountant, Company Secretary and Chartered Management Consultant, Bookkeeper, auditing clerk, forensic accounting etc. There is a lot of scope of job opportunities abroad with good packages as an accountant and CA are on-demand in many industrial sectors.

Salary/Package

A person working as an Accountant in India typically earns around Rs 21,900 per month. Salaries range from Rs. 11,000 – 45,500 per month. This is the average monthly salary including housing, transport, and other benefits. Accountant salaries vary drastically based on experience, skills, roles or location.

Skills required

Numerical aptitude
Ability to handle distraught and questioning clients
Patience and self discipline
Good computing skill
Ability to work in an office setting to review documents for long hours
Belief in ethical practice
Honesty and reliability

Pros and Cons of an Accountant

Pros

It is a stable and flourishing career of all occupations.
Start as an entry-level associate to gain experience through on job performance.
A flexible job which can help you to choose an industry of your choice.

Cons

Enhance your skills with new technology.
Work environment sometimes may feel lethargic.
Heavy workload and deadline from January to April.

How do I be one

The eligibility criteria for the admission in Accounting depend on the level of degree achieved. Here is the list of eligibility criteria for candidates pursuing admission in accounting are:

For admission in undergraduate courses, 10+2 in Mathematics is a compulsory requirement with a minimum 50% in aggregate and basic knowledge of Maths, Accounts and Economics.

The admission process for B.com is through an entrance test CAT- Common Admission Test that is conducted by respective Universities or any equivalent entrance test according to the respective States.

For admission in a Postgraduate course into Accounting, the candidate must have a bachelor degree in Accounting, Economics, Finance and Accounts, Taxation etc. The top entrance test conducted for admission into the Accounting Programme is ICWAI, ICSI and ICAI conducted by the respective University Board.