Becoming an accountant is a lot to take on, in this article I will explain the different roles an accountant can occupy, what are the salaries they can expect and what are the benefits and the danger that is related to this type of job. To become an accountant it requires additional investment other than the bachelor degree in order to be well-informed and aligned with the job market and reach our career goals
Being an Accountant is a very useful resource that guides us through our day to day on how to manage our financial portfolio, how to create benefits, how to be compliant with the Government and how to make sure we are on the right path to reach our life goals. An Accountant is not only about managing our financial resources but also a career that offers a variety of possible options on the market. Having a Certified Public Accounting designation (CPA) cars offer a wide range of possible careers within a company, we can perform the full accounting cycle for a company, we can work as a Government auditor, a financial advisor, a bookkeeper, a financial corporate controller, a CFO (Chief Financial Officer) and more
When working for a company in the full accounting cycle, the role of the accountant is to ensure proper classifications of a company's revenue, company's assets and liabilities, record the eligible expenses, calculate company's earning and benefits in order to ensure the company is in a healthy financial situation, the accountant's responsibility is to ensure proper resource allocation in respect of the allocated budget, ensure to detect any possible fraud and make sure the company possesses enough cash flow that allows her to pay their employee's wages, a failure in detection of losses, or unnecessary expenses and not enough revenue can lead to a bankruptcy
An accountant usually works on a daily schedule from 8 to 5, where most of the resources in the company are available, an accountant ensure daily transactions are well-recorded, respects delays in production of financial reports, Government taxes remittances, accounts payable are done on time, accounts receivable are performed regularly, salaries are paid, investments take place at the right amount, cash flow is monitored at the bank, answer any question from the owners about an acquisition or investment they wish to make or if an expense is eligible as a deduction in the operational cost of sales
Accountants can work in most places that have an operating income, they can work in a private sector, companies that belongs to one or a group of people, the company could be also private or publicly traded on the stock market, in the public sector such as the Government, for banks, audit firms, accounting firms and more
To become an accountant we are required to obtain a bachelor degree in Accountancy offered in most universities that can be combined by a higher education in order to obtain a CPA (Certified Public Accountant) designation and be a member of the CPA order
Accountants salary can vary based on the role occupied and the sector where the accountant is working in, it also can vary if the accountant possess a CPA designation or not. For example, an accountant with a CPA designation can earn a salary that varies between 80 thousand dollar annual salary before tax up to 500 thousands dollar as an annual salary. The salary takes many factors into consideration other than the size of the company but also the role occupied, for example a financial controller in a small company can earn up to 100 K per years as for a corporate controller in a large public company such as Bombardier, Air Canada or other large companies, can earn up to 300 K's per years, however a CFO in a large company can make over 500 K's per years.
A bachelor degree along with a CPA designation and a 2-year plus in one of the big accounting firms such as PWC, Deloitte, E & Y or KPMG are keys for a good start for any accountant who wishes to establish a career in accounting
The accountant is the heartbeat of the company, if the accountant manages well the financial resources and perform a good allocation of the financial resources, the company's financial situation would be in a good shape, but when the accountant does a poor job and doesn't understand the impacts and the deficits or the high costs and any financial difficulties that the company is going through, this can lead to a bankruptcy and therefore the dissolution of the company
The accountant listens to his clients need and understand their goals in life, chances to be replaced by a robot are very low, however a very good financial system can help the accountant to reduce the manual transactions and automate the production of financial reports required by the Government and banks and presented to the board of directors to help them take decisions related to a company's growth and expansion
Most accountants retire late since there is no limitation in the work they can perform, they can decide to slow down the intensity as they age or work on a part-time basis, but I have seen accountants who are stilled up and working in their seventies
Being an accountant is not just limited to one role, an accountant can occupy different roles in different types of environment and also can ear a different salary depending on where he is and what level of responsibility he has. Being an accountant is a responsibility when it comes to managing the financial resources of someone who worked hard to build his company, an accountant needs to make sure the company keeps operating and keeps paying their employees their earned salary to be able to survive with their families.
Rationale: to inform or educate
Authority: satire
Date: still relevant
Accuracy: probably true
Relevance: relevant for this document
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Rationale: to inform or educate
Authority: satire
Date: still relevant
Accuracy: probably true
Relevance: relevant for this document
Sources: cites sources