An accountant’s job entails working to ensure that business firms
and individuals are keeping good records and paying taxes properly and
on time. Though the accountant job description for some accounting
positions may be simple, other accountant job descriptions are not quite
as clear because of the number of duties that are required.
In
general, an accountant performs vital functions to businesses, as well
as individuals, of all types by offering a very wide array of business
and accounting services, including public, management and government
accounting, as well as internal auditing. These four major fields of
accounting, and in addition to having a minimum of a bachelor’s degree,
each has a separate accountant job description.
1. Public Accountant
A
public accountant job description can be summed up in what most people
envision as “typical” accountant’s work. It involves performing a broad
range of accounting, auditing, tax, and consulting activities for their
clients, which may be corporations, governments, nonprofit
organizations, and individuals. Specialties in public accounting are
often chosen. For example, a public accountant may choose to concentrate
on tax matters, such as advising companies about the tax advantages and
disadvantages of certain business decisions and preparing individual
income tax returns. Other public accountants may choose areas such as
compensation or employee health care benefits, or may design accounting
and data processing systems. Still other public accountants may choose
to specialize in auditing financial statements and inform investors and
authorities that statements have been correctly prepared and reported.
Public accounts are usually Certified Public Accountants (CPAs), and
generally own their own businesses or work for public accounting firms.
2. Management Accountant
Another
accountant job description is that of a management accountant. Also
called a cost, managerial, industrial, corporate, or private account,
management accountants record and analyze the financial information of
the companies for which they work. The management accountant job
description includes a detailed listing of responsibilities, such as
budgeting, performance evaluation, cost management, and asset
management. Management accountants are often a part of executive teams
involved in strategic planning or the development of new products, where
they analyze and interpret financial information that corporate
executives need in order to make sound business decisions. They also
prepare financial reports for other groups, including stock holders,
creditors, regulatory agencies, and tax authorities. Management
accountants are usually a part of an accounting department, employed a
large company, and may work in many areas that may include financial
analysis, planning, budgeting, and cost accounting.
3. Government Accountant
A
government accountant works in the public sector, maintaining and
examining the records of government agencies and auditing private
businesses and individuals whose activities are subject to government
regulation and/or taxation. This accountant job description, while
detailed, is much more specialized. Government accountants are employed
by Federal, State, or local governments, and work to guarantee that
revenues are received and expenditures are made in accordance with laws
and regulations. Those employed by the Federal government may work as
Internal Revenue Services agents or in financial management, financial
institution examination, or budget analysis and administration.
4. Internal Auditor Accountant
The accountant
job description of an internal auditor can basically be summarized by
the job title. Internal auditors verify the accuracy of their
organization’s internal records, and check for mismanagement, waste, or
fraud. It is an increasingly important area of accounting, because
internal auditors examine and evaluate their firms’ financial and
information systems, management procedures, and internal controls to
ensure that records are accurate and controls are adequate to protect
against fraud and waste. They also review company operations, evaluating
their efficiency, effectiveness, and compliance with corporate policies
and procedures, laws, and government regulations. The accountant job
description of an internal auditor can vary with different companies,
and may include job duties such as electronic data processing,
environmental auditing, engineering, legal auditing, insurance reviews,
banking, and health care auditing.
Accountants in all four areas
can work for a company, or can be employed by an accounting firm, which
would in turn be hired by a company for consulting. An accountant can
also be self-employed, and provide accounting services to individuals,
businesses, or both.
Most accounting jobs include an accountant
job description that requires a bachelor’s degree, at minimum, in
accounting or a related field, and some accountant job descriptions
might include the requirement of a master’s degree or Certified Public
Account (CPA) certification, obtained through a four-part, Uniform CPA
Explanation prepared by the American Institute of Certified Public
Accountants (AICPA). While the two-day CPA examination is rigorous, and
only about 25 percent of those taking the exam pass every part they
attempt, CPA certification can greatly assist in the rate of pay
received, and in most states, the examination can be taken in two parts,
which may assist in preparing for and passing the exam.
According
to the United States Department of Labor, employment of accountants and
auditors is expected to grow at a faster than average rate, for all
accounting occupations from all accountant job descriptions mentioned,
through the year 2014. This is due to an increase in the number of
businesses nationwide, changing financial laws and regulations, and
increased scrutiny of company finances. In addition to these reasons for
new accounting jobs opening up, there will also be a need to replace
accountants and auditors who will retire or transfer to other
occupations.
The field is also becoming more specialized due to
technology and new, accurate accounting and auditing software experience
becoming a crucial addition to an accountant job description. An
accountant job description may include, in addition to educational and
technological requirements, strong interpersonal and communication
skills, simply due to the fact that most accountants work on teams with
others from different backgrounds, and will need the ability to
communicate accounting and financial information clearly and concisely.
Regardless
of one’s qualifications, competition in the accounting field will
remain strong for the most prestigious jobs, as well as for obtaining
clients for those accountants that are self-employed.