If you've ever wanted to be an accountant, or just to know a little bit more about this job, then this article will be interesting for you. This article explains everything there is to know about accountants, what they do, what kind of studies do, how much money they make, what's like a day-to-day life at work, when you can expect to retire, where do they work and many more information.
Accountants say that their job is not the easiest. Some of their clients can become defensive and sometimes aggressive when it comes to their money. As an accountant, you need to be focused while working, or else your work won't balance and need to double check everything again, and sometimes can be long-lasting and frustrating.
Typically, an accountant's job is to keep track of payments, financial positions, and transfers of capital or income for individual or institutional clients. Some are responsible for examining the tax implications of those actions.
Even though the daily duties of an accountant varies from time to time, some of the most common tasks and responsibilities of accountants are to prepare, maintain and ensure the precision of financial documents like a balance sheet, prepare tax returns, ensure that taxes are paid on time, evaluate financial operations to recommend the best practices, help organizations run efficiently for our client to make the best financial decisions, offer advice on cost reduction, revenue enhancement, and profit maximization to our client.
Accountant usually work in an office, with no distractions. Some accountants can also bring their equipment and documents to work from home. It is more profitable to have your own firm and have employees, but it is also more job, management, it is not for everyone. Of course, there are more jobs and more paying jobs in the big cities, like in Montreal.
In order to become an accountant, you need to ensure that you have the best education possible. The best suggestion is to pass a Bachelor of Science in Finance and Accounting Management. To practice officially, you need to pas the CPA (certified public accountant) exam.
According to the 2019 Accounting and Finance Salary Guide, accountants with one to three years of experience can earn between $51,500 and $96,500 annually. Those with five or more years of experience can earn as much as $129,250 per year.
Aspiring and current accountants should stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage: automated accounting software, transparency and security and data analysis
They're not many dangers of being an accountant. One of them can be by accepting a bribe of someone and getting cut, which can lead to losing your job.
A study conducted by Oxford University and Deloitte stated that accountants have a 95% chance of losing their jobs to robots.
The age of retirement depends on the salary you make, obviously, but a study shows that in the big cities, like Montreal, the typical retirement age is around 58 to 60. For more local and regional firms, for example in St-Jérome or Joliette it's 65 or 66.
In order to become an accountant, I still have to finish the studies that I am doing right now, which are Accounting and management, go to university and then pass my CPA exam. The jobs are pretty easy to have in this field.
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