Career as an Accountant

An accountant can be in charge of a variety of interesting and vital duties. There are positions for junior and entry-level accountants, and many accountants go on to become Top CEOs, finance directors, and company leaders. Accountants' responsibilities encompass tax advising, assisting businesses with financial reporting, recordkeeping, and statistical analysis. You'll work in an accountant firm alongside other businesses and consumers to assist them to pay the appropriate taxes, prepare their finances, and then utilize that data to help them expand and generate more profit. An accountant's responsibilities in an organization will be comparable to those in a practice, but they will be for a single company rather than a group of clients. These will involve assisting with the settlement of contracts or getting compensation, as well as gathering economic data and applying it to assist managers in optimizing business processes. Advancing as a senior accountant and earning bookkeeping credentials provides opportunities to the corporate sector and a wider range of administration and judgment positions.

  • Must possess at least 50% aggregate from a recognized institution in 12th, from any board PUC/CBSE/ICSE/ISC, etc. However, the cut-off margin varies with the selection process of different colleges.
  • Should procure a valid score in entrance exams such as GGSIPU CET BBA, AIMA UGAT, CUET, DU JAT, NMIMS-NPAT, etc. Different colleges offer their entrance exams if you don’t have a satisfactory score in JEE or other competitive exams – colleges like NMIMS, Symbiosis International University, XUB, Andhra University, LPU, etc. Every state offers its entrance exam as well.
  • One must earn a degree in B.Com/BBA or a Diploma to become an Accountant. This is a basic qualification you must require to enroll in this line of work.
  • An M.A in Finance and Accounting can also prove to be helpful while looking for a higher degree and better learning.

  • Obtain and evaluate data to look for flaws in procedures, duplication of work, excess, deception, or quasi with ordinances, legislation, and organization structure.
  • Compile, inspect, or analyze accounting information, financial information, or other annual statements to determine their correctness, thoroughness, and compliance with regulatory and procedural requirements.
  • Use information of interests and market prices, contracts, stock and bond value, and amortization assessment of nonrenewable assets to assess taxpayers' finances to calculate taxable profits.
  • For evaluating financial situations and aid economic planning, prepare, analyze, or review annual accounts, financial information, and other data using standard accountancy and related methodologies.
  • Using contemporary digital technology, design, administer, adjust, and record bookkeeping and financial reporting systems.

  • Finance and Management – Understanding of corporate governance concepts and procedures, as well as capital industry, finance, and business information monitoring and interpretation.
  • Arithmetic Prowess — Being able to evaluate and interpret various mathematical equations and use them to address complex problems in arithmetic, geometry, calculus, and other areas.
  • Secretarial — Experience in technical and administrative tools and methodologies such as note-taking, document and record handling, stenography and annotations, the layout of forms as well as other workplace practices and etymology.
  • Client and Legitimate Service — Implementation of standards and procedures for the provision of customers and services rendered. This involves identifying customer expectations, meeting product quality requirements, and assessing customer loyalty.
  • Computer Application — Understanding the prospects and functioning of circuit boards, processing units, circuits, electrical devices, computer equipment, plus applications and programming.

  • Rational interpretation — Use of rationality and inference to distinguish the positives and disadvantages of creative improvements, assumptions, or responses to situations.
  • Influence — Entails keeping track of and evaluating your own, other people's, or organizations' results to make changes or take disciplinary measures.
  • Surveillance — Practises and processes for selecting and implementing strength and conditioning approaches and techniques that are suitable for the case when learning or introducing new items.
  • Time Management — Interacting and switching between different tasks and activities without consuming excess time to provide results.
  • Processes Assessment — Entails identifying metrics or indices of service quality as well as the steps required to enhance or change effectiveness concerning the system's objectives.

Once you procure the required qualifications for becoming a Management Analyst, a myriad of options is open to you. There are multiple projects you can undertake throughout this line of work, and there are many other fields you can branch out to as well.

  • Cost Accountant: Cost accounting is a part of the management financial reporting that is used to analyze the revenue and expenses of creating and distributing an organization's products and services. Accountants in this profession analyze expenses along the supply chain to identify the expenditures involved in delivering a function or materials used in production. To establish the genuine possibility of buying products or services to consumers, they monitor and record actual expenses such as workforce, transportation, manufacture, and management, both across functions and at the company level. Cost accountants assist in the planning, budgeting, and evaluation of performance, as well as the establishment of standardized unit costs and the recommendation of cost-cutting options. The position is critical for determining where a firm spends its money and which goods, divisions, or solutions are the most lucrative.
  • Certified Public Accountant: Certified Public Accountants keep track of financial data and keep them up to date. They should also be capable of analyzing these accounting statements appropriately. Maintaining total accordance with all provincial and national rules is a component of the general employment contract. Even if it isn't mentioned in the accounting employment contract, CPAs are frequently relied upon to provide expert financial advice to their corporation's leaders or individual customers. They are also crucial in the preparation of tax reports, and several CPAs work as personal tax preparers during tax time. CPAs work full-time for a corporation, a non-profit, or the government in the majority of situations. While particular work qualifications are detailed in the accountant employment contract, there are certain common traits that all CPAs share. CPAs must be meticulous in their work. To be legally compliant, avoid fraudulent activities, and preserve relevant financial statements for their company or customers, they must also learn and use sound accounting procedures.
  • Field Auditor: A field auditor's responsibilities include visiting off-site sites, conducting investigations, and developing feasibility studies. Field auditors check employee adherence to corporate regulations regularly, examine any inconsistencies discovered, and register them for management's attention. A field auditor is much more inclined to specialize in one area, such as inventory auditing or fraud investigation. Because this individual may be working alone, he or she must be able to operate with little monitoring. A field auditor examines the financial records of a corporation's many branches or distributors within a specific region. Make sure income statements, inventory records, and other important papers are free of mistakes. If financial revenue is recognized, the auditor looks into questionable documents and conducts interviews with personnel to learn the truth. A field auditor's work assists executives at company headquarters in making crucial financial policy choices.
  • Fund Accountant: The field of fund accounting isn't as well-known as that of a CPA or a corporate accountant. Conversely, these experts concentrate on overseeing the economics of a single fund. Producing annual documents, regulating operations and funds activities, and investment accounting, particularly tracking returns and interests, are all part of their responsibilities. The fund accountant is the primary point of interaction between customers and their business owners, which are usually businesses that specialize in this type of accounting. This means they'll frequently interact with financial managers like a hedge fund manager or fund administrator, as well as fund investors and their employers. This implies that, in addition to their observational talents, they will require skills and experience such as highly motivated and dedicated students, ability to work under pressure, and outstanding attention to detail, as well as comprehensive financial reporting awareness and knowledge to handle all customer needs.
  • Equity Analyst: Investment advisers, underwriters, and investment managers rely on equity analysts, also known as equity research analysts, for financial advice and professional understanding of alternative investments. On the buy-side, sell-side, or both, this job integrates data collection and analysis with financial modeling and forecasts to make educated choices about investment possibilities and risks. Equities analysts operate in a range of financial institutions, offering quantitative analysis and information understanding for brokerage firms, financial institutions, and trading firms. They may also help with market performance in the run-up to an initial public offering (IPO), assessing the stock's worth. They may also help with market performance in the run-up to an IPO, such as establishing the stock's worth, capitalization, and market cap.

Accountants can opt for various fields of work in the companies listed below:

  • State Street
  • Nike
  • Amazon
  • Mastercard
  • Schneider Electric
  • Navi
  • Resemble Systems
  • Target
  • Aditya Birla Group

  • Loyola College, Chennai
  • Madras Christian College, Chennai
  • Chandigarh University, Chandigarh
  • Christ University, Bangalore
  • Narsee Monjee College of Commerce and Economics, Mumbai
  • Ra Podar College of Commerce and Economics, Mumbai
  • Parul University, Vadodara
  • Symbiosis College of Arts and Commerce, Pune
  • Stella Maris College, Chennai
  • Jain University, Bangalore

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