If you’re considering career paths, you may have thought about accounting as an option. But before you can pursue it further, you’ll need to know just what is involved in this kind of role. So, what does an accountant do?
A variety of roles
There are more options within accounting than you might think, with an array of different roles with varying responsibilities. Accountants can work in almost any industry, from entertainment to logistics, in roles from management to forensic accounting.
There are, however, common themes linking each of these roles together.
All accountants have to deal with the numbers for an organisation, whether this is for their employer, or for clients at a firm. But what do we mean by “the numbers”?
Accountants are responsible for processing financial transactions. This means entering the invoices for both sales and purchases into the final accounts. It also means processing all bank transactions.
As you progress in your accountancy career, you are likely to be less involved with processing everyday business transactions, and more focused on the bigger picture.
You could be responsible for analysing information to get a good idea of how the organisation is performing. This can include calculating ratios to ensure financial goals are being achieved.
What does it take to become an accountant?
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As you gain experience and knowledge, your role could progress into the production of financial reports, which will include the profit or loss report, and the statement of financial position. These reports will then be used by stakeholders in the business to ascertain its performance.
At a higher level, you will need to ensure your organisation or your clients’ organisations are compliant with the rules and regulations surrounding the production of accounting information.
It will also be part of your role to ensure the company plans for tax, calculates its liability, and pays it on time.
The higher up in your accountancy career you move, the more your role will move from day-to-day processing to a focus on steering the company towards its goals.
Do you want to know more about how to get into accounting? To get some advice, or ask about our accounting courses, get in touch below.