Who is Accountant?
An Accountant is in charge of managing all the financial information for an organisation, company, or individual. They compile and analyze the client’s financial information by preparing documents and checking for the accuracy of the information. They also work to ensure the organizations’ compliance with the tax regulations and accounting practices. Simply put, they are responsible for accurately documenting the organization’s financial transactions and conveying key financial information to the management.
Accountants can choose to specialize in a number of subfields as tax, inventory, cost, and general ledger. They are authorized to certify an organization’s financial statements. They further help the organization by controlling and executing their budget, forecasting revenues, guiding financial planning, monitoring the organization`s financial health, and make financial decisions with regards to the economic trends. Accountants are financial professionals who manage a number of accounts, both private and public. These accounts may be held by a corporation or by individuals.
As a result, they may find work with corporations of various sizes—from small to large—governments, various organisations such as non-profits, or they may establish their own private practise and work with individuals who seek their services. They are responsible for a variety of accounting tasks, which vary depending on where they work. Accountants conduct account analysis, review financial statements, documents, and other reports for accuracy, conduct routine and annual audits, review financial operations, prepare tax returns, advise on areas that need more efficiencies and cost-savings, and provide risk analysis and forecasting.
Typical day at work
What does Accountant do?
Accountants are in charge of keeping track of and disclosing financial data on behalf of a company. Accountants in smaller organizations may handle all of the duties associated with an accountant's job, whereas accountants in more prominent companies are often responsible for distinct accounting areas. Financial accounting and managerial accounting are examples of this.
- Prepare balance sheets, tax returns, profit and loss statements and other financial reports.
- Inspect financial records to ensure compliance with the financial rules and regulations.
- Provide recommendations for future financial actions upon analyzing accounting options.
- Communicate the organization’s financial information to the management through presentations and written documents.
- Provide recommendations regarding resource utilization, tax strategies, and financial policies.
- Compile and analyze accounting data regarding the asset, liability, and capital accounts.
- Document financial transactions of the organization and audit the financial documents as per accounting practices.
- Generate accurate accounting reports, prepare financial statements, and produce budget reports.
- Direct internal and external audit controls.
Abilities & aptitude needed
What are the skills, abilities & aptitude needed to become Accountant?
Adaptability: Accounting professionals can become more adaptable by keeping up with changing trends, planning ahead of time, and looking ahead. Individuals experience anxiety when confronted with numerous challenges, but the best accountants can adapt to change by being adaptable and recognising possible alternatives. The accounting industry is a fast-paced one. With technology bringing constant change, accountants must be able to adapt quickly and respond to any curveball thrown at them. Accountants are frequently viewed as financial leaders who determine the growth strategy and productivity of the companies they represent. Individuals do not need to be the strongest or most affable person in an accounting job to deal with people, but they do need to have sufficient essential leadership abilities.
Accounting jobs that require leadership skills may require strategic thinking and long-term planning. You must reconcile being a role model while also being a member of the team and the person in charge. Organizational skills entail the ability to remain focused on daily functions in order to achieve the intended goal. Accountants must be aware of all statistics, documentation, and paperwork while on the job. They require a system for quickly locating the information they require. Accountants must be able to organise their work and set aside time for uninterrupted research and analysis in order to maximise productivity.
Honesty: In the accounting world, honesty is highly valued. Individuals who choose a career as an accountant, as well as the companies for which they work, take pride in upholding the highest ethical standards and treating their clients with honesty and integrity at all times. Honesty and transparency are important in accounting because they allow businesses to rely on the information they provide about the businesses in which they are involved. Accounting authenticity is a critical component of the profession that enables financial decision-makers to make sound decisions.
Communication Skills: Individuals pursuing a career as accountants should be capable of communicating complex facts in ways that are understandable to all. This necessitates not only excellent communication skills but also client awareness. A good communicator will convey his or her message with trust and importance. Obviously, accountants must be able to interact and collaborate with colleagues from various departments. Communication is also necessary for the development of effective customer relationships.
Attention to Detail: When people start working in bookkeeping or accounting, they quickly realise that they cannot be successful unless they pay close attention to detail. Individuals who choose a career as an accountant are held accountable for ensuring accuracy and preventing errors when preparing financial statements and revenue statements. Clearly, these characteristics are important in the day-to-day lives of accountants, who must ensure that numbers work and are correct. A keen eye for detail and meticulous attention to detail should be part of their daily routine.
Time Management: In a career as an accountant, an individual's work responsibilities can quickly increase, particularly during the fiscal year that ends with deadlines. They would be able to forecast which phases of the year should increase the workload and which should not based on how the year progresses. A workload management solution is only useful if the accountant understands how to manage his or her time. The ability to work within time constraints and constantly re-prioritize to-do lists will propel an accountant's career to new heights.
Which course I can pursue?
Which are the best colleges to attend to become Accountant?
Hindu College, Delhi
Delhi | Delhi UniversityNIRF Rank : 2
Presidency College, Chennai
Chennai | UGCNIRF Rank : 3
National Institute of Technology, Calicut
Kattangal, Kerala | AICTE, UGCNIRF Rank : 3
St. Stephen`s College, Delhi
New Delhi | UGC,DUNIRF Rank : 4
Loyola College, Chennai
Chennai, Tamil Nadu | University of Madras, ChennaiNIRF Rank : 6
National Law University, Jodhpur
Jodhpur, Rajasthan | National Law University, JodhpurNIRF Rank : 6
Shri Ram College of Commerce, Delhi
New Delhi, Delhi | University of Delhi, DelhiNIRF Rank : 7
Hans Raj College, Delhi
Delhi | Delhi University,UGCNIRF Rank : 9
St. Xavier`s College, Kolkata
Kolkata, West Bengal | UGCNIRF Rank : 10
Savitribai Phule Pune University, Pune
Pune, Maharashtra | Savitribai Phule Pune University, PuneNIRF Rank : 10
Gargi College, Delhi
Delhi | Delhi University, UGCNIRF Rank : 12
Madras Christian College, Chennai
Chennai | University of MadrasNIRF Rank : 13
Atma Ram Sanatan Dharm College, New Delhi
New Delhi | Delhi UniversityNIRF Rank : 14
S. P. Jain Institute of Management and Research, Mumbai
Mumbai | AIUNIRF Rank : 16
PSG College of Arts and Science, Coimbatore
Coimbatore, Tamil Nadu | Bharathiar University, CoimbatoreNIRF Rank : 17
JSS Medical College, Mysore
Mysuru, Karnataka | Rajiv Gandhi University of Health Sciences, KarnatakaNIRF Rank : 17
Deen Dayal Upadhyaya College.
New Delhi | UGC,Delhi UniversityNIRF Rank : 17
Kirori Mal College, Delhi
Delhi | University of DelhiNIRF Rank : 18
Punjabi University, Patiala
Patiala, Punjab | UGC, NAAC.AIUNIRF Rank : 18
Banasthali Vidyapith, Banasthali
Jaipur, Rajasthan | UGCNIRF Rank : 19
Sri Venkateswara College, Delhi
Delhi | Delhi UniversityNIRF Rank : 19
Symbiosis Institute of Business Management, Pune
Lavale, Maharashtra | Symbiosis International University, PuneNIRF Rank : 20
Dyal Singh College, New Delhi
New Delhi | Delhi UniversityNIRF Rank : 20
SVKM`s Narsee Monjee Institute of Management Studies, Mumbai
Mumbai, Maharashtra | ?AACSB?, ?AMBA?, ?UGC?, ?AIUNIRF Rank : 20
Siksha 'O' Anusandhan, Bhubaneswar
Bhuvaneshwar, Odisha | Biju Patnaik University of Technology,UGC,NAACNIRF Rank : 21
Symbiosis International University, Pune
Lavale, Maharashtra | Symbiosis International University, PuneNIRF Rank : 22
PSGR Krishnammal College for Women, Coimbatore
Coimbatore, Tamil Nadu | Bharathiar University, CoimbatoreNIRF Rank : 22
Thapar Institute of Engineering and Technology, Patiala
Patiala, Punjab | UGCNIRF Rank : 23
Indian Institute of Management Shillong
Shillong, Meghalaya | AutonomousNIRF Rank : 24
Jesus & Mary College, New Delhi
Delhi | University of DelhiNIRF Rank : 25
Fergusson College, Pune
Pune | Savitribai Phule Pune UnisversityNIRF Rank : 27
Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur
Nagpur, Maharashtra | UGC,AIUNIRF Rank : 29
Mar Ivanios College, Thiruvananthapuram
Thiruvananthapuram | University of Kerala,UGCNIRF Rank : 29
Scott Christian College, Nagercoil
Nagercoil, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 30
Women`s Christian College, Chennai
Chennai | University of MadrasNIRF Rank : 32
Maharshi Dayanand University, Rohtak
Rohtak, Haryana | UGC, NAAC-ANIRF Rank : 32
Thiagarajar College, Madurai
Madurai, Tamil Nadu | Madurai Kamaraj University, MaduraiNIRF Rank : 34
Loyola Institute of Business Administration, Chennai
Chennai, Tamil Nadu |NIRF Rank : 36
PSG College of Technology, Coimbatore
Coimbatore, Tamil Nadu | Anna University, ChennaiNIRF Rank : 37
Shanmugha Arts Science Technology and Research Academy, Thanjavur
Thanjur, Tamil nadu | NAAC, UGC, NAAC-ANIRF Rank : 38
Lovely Professional University
Delhi | University Grants Commission (UGC)NIRF Rank : 38
St. Joseph's College, Tiruchirappalli
Tiruchirappalli, Tamil Nadu | Bharathidasan University, TiruchirappalliNIRF Rank : 39
Banaras Hindu University, Varanasi
Varanasi | ACU AIU NAAC UGCNIRF Rank : 39
Queen Mary`s College, Chennai
Chennai, Tamil Nadu | University of Madras, ChennaiNIRF Rank : 40
Maharishi Markandeshwar University, Mullana
Mullana, Haryana | Maharishi Markandeshwar University, MullanaNIRF Rank : 41
Motilal Nehru National Institute of Technology, Allahabad
Allahabad, Uttar Pradesh | Uttar Pradesh Technical University (UPTU)NIRF Rank : 42
Alliance University, Bengaluru
Bengaluru | UCCNIRF Rank : 42
Xavier University, Bhubaneswar
Bhubaneshwar | UGC,NBA,AIUNIRF Rank : 44
National Institute of Technology Durgapur
Durgapur, West Bengal | Deemed UniversityNIRF Rank : 46
Vellore Institute of Technology, Vellore
Vellore | UGCNIRF Rank : 46
Sri Padmavati Mahila Visvavidyalayam, Tirupathi
Tirupati, Andhra Pradesh | UGCNIRF Rank : 46
Sathyabama Institute of Science and Technology, Chennai
Chennai, Tamil Nadu | Sathyabama University, ChennaiNIRF Rank : 47
Govt. College for Women, Thiruvananthapuram
Thiruvananthapuram Kerala | Kerela UniversityNIRF Rank : 47
Pt. Ravishankar Shukla University, Raipur
Raipur, Chhattisgarh | UGCNIRF Rank : 48
Kanchi Mamunivar Centre for Post Graduate Studies, Puducherry
Puducherry | Pondicherry UniversityNIRF Rank : 49
Amity University, Gautam Budh Nagar
NOIDA | UGC?, ?NAAC?, ?WASC?, ?AIU?, ?ACUNIRF Rank : 49
Bethune College, Kolkata
Kolkata | ?University of CalcuttaNIRF Rank : 50
National Institute of Technology Silchar
Silchar, Assam | UGCNIRF Rank : 51
Lovely Professional University, Phagwara
Phagwara, Punjab | UGC, AIU, PCI, NCTE, COA, ACBSP,NIRF Rank : 52
VELS Institute of Science Technology and Advanced Studies, Chennai
Chennai, Tamil Nadu | ?UGC NAACNIRF Rank : 52
Malaviya National Institute of Technology Jaipur
Jaipur, Rajasthan | ?AICTE, MHRDNIRF Rank : 53
Sri Krishna Arts and Science College, Coimbatore
Coimbatore, Tamil Nadu | Bharathiar University, CoimbatoreNIRF Rank : 53
Kurukshetra University, Kurukshetra
Thanesar, Haryana | UGCNIRF Rank : 53
St. Thomas College, Thrissur
Thrissur, Kerala | Affiliated to University of CalicutNIRF Rank : 54
Institute of Management and Entrepreneurship Development, Pune
pune | university of puneNIRF Rank : 55
Sam Higginbottom Institute of Agriculture, Technology and Sciences, Allahabad
Allahabad, Uttar Pradesh | UGC, ACU AIU IAU IAUANIRF Rank : 56
St. Xavier's College, Ahmedabad
Gujarat | Gujarat UniversityNIRF Rank : 56
Sacred Heart College, Ernakulam
Thevara, Kochi | Mahatma Gandhi University, KottayamNIRF Rank : 57
Stella Maris College for Women, Chennai
Chennai | University of MadrasNIRF Rank : 58
Koneru Lakshmaiah Education Foundation University(K L College of Engineering), Vaddeswaram
Guntur, Andhra Pradesh | University Grants Commission, All India Council for Technical EducationNIRF Rank : 58
St. Joseph`s College of Commerce, Bengaluru
Bengaluru, Karnataka | Bangalore University, BangaloreNIRF Rank : 61
St. Teresa's College, Ernakulam
Ernakulam Kochi, Kerala | Mahatma Gandhi University, KottayamNIRF Rank : 64
Shoolini University of Biotechnology and Management Sciences, Solan
Solan, Himachal Pradesh | UGCNIRF Rank : 65
Silver Jubilee Degree College, Kurnool
Kurnool | Rayalaseema UniversityNIRF Rank : 66
Mohanlal Sukhadia University, Udaipur
Udaipur, Rajasthan | Mohanlal Sukhadia University, UdaipurNIRF Rank : 67
NSHM Knowledge Campus, Kolkata
Kolkata, West Bengal | Maulana Abul Kalam Azad University of Technology, KolkataNIRF Rank : 68
Govt. Arts College, Thiruvananthapuram
Thiruvananthapuram, Kerala | Kerala UniversityNIRF Rank : 69
Farook College, Kozhikode
Kozhikode, Kerala | CALICUT UNIVERSITY, CALICUTNIRF Rank : 71
SRM Institute of Science and Technology, Chennai
Kattankulathur, Tamil Nadu | SRM University, ChennaiNIRF Rank : 73
St. Xavier's College, Palayamkottai
Tirunelveli, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 74
V. O. Chidambaram College, Tuticorin
Thoothukudi, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 77
Newman College, Idukki
Thodupuzha, Kerala | MG UniversityNIRF Rank : 78
Lady Doak College, Madurai
Madurai | MKU,MaduraiNIRF Rank : 79
TKM College of Arts and Science, Kollam
Kollam | KU, ThiruvananthapuramNIRF Rank : 80
Women's Christian College, Nagercoil
Nagercoil, Kanyakumari | Manonmaniam Sundaranar UniversityNIRF Rank : 81
Sri Guru Gobind Singh College of Commerce, Delhi
New Delhi | University of DelhiNIRF Rank : 87
Mepco Schlenk Engineering College, Sivakasi
Melamattur, Tamil Nadu | Anna University, ChennaiNIRF Rank : 88
Sri Venkateswara University, Tirupati
Tirupati, Andhra Pradesh | UGCNIRF Rank : 89
Hindustan Institute of Technology and Science, Chennai
Chennai | NAAC; UGCNIRF Rank : 95
St. Francis College for Women, Hyderabad
Hyderabad, Telangana | Osmania University, HyderabadNIRF Rank : 95
St. Xavier's College, Mumbai
Mumbai, Maharashtra | University of MumbaiNIRF Rank : 96
IK Gujral Punjab Technical University, Kapurthala
jalandhar | UGC, AICTENIRF Rank : 96
Sri Meenakshi Government College for Women, Madurai
Madurai, Tamil Nadu | Madurai Kamaraj University, MaduraiNIRF Rank : 97
Sri Krishna College of Engineering and Technology, Coimbatore
Coimbatore, Tamil Nadu | Anna University, ChennaiNIRF Rank : 97
Muthurangam Govt. Arts College, Vellore
Vellore, Tamil Nadu | Thiruvalluvar University, VelloreNIRF Rank : 98
Kongu Engineering College, Perundurai
Erode, Tamil Nadu | Anna University, ChennaiNIRF Rank : 99
Ramanujan College, New Delhi
New Delhi, Delhi | University of Delhi, DelhiNIRF Rank : 100
New Horizon College of Engineering, Bengaluru
Bengaluru, Karnataka | Visvesvaraya Technological University, BelagaviNIRF Rank : 106
The Northcap University, Gurugram
Gurgaon, Haryana | BCI, NAAC, UGC, MHRD, AIUNIRF Rank : 117
Sri Sairam Engineering College, Kancheepuram
Sirukalathur, Tamil Nadu | Anna University, ChennaiNIRF Rank : 123
Veer Surendra Sai University of Technology, Burla
Burla, Odisha | UGCNIRF Rank : 126
NMAM Institute of Technology, Nitte
Nitte, Karnataka | Visvesvaraya Technological University, BelagaviNIRF Rank : 128
NITTE Meenakshi Institute of Technology, Bengaluru
Govindapura, Karnataka | Visvesvaraya Technological University, BelagaviNIRF Rank : 142
YMCA University of Science and Technology, Faridabad
Faridabad, Haryana | UGCNIRF Rank : 144
PES University, Bengaluru
Bengaluru, Karnataka | AICTE, NAAC, UGCNIRF Rank : 149
Dr Vishwanath Karad MIT World Peace University, Pune
Pune, Maharashtra | UGCNIRF Rank : 154
Narula Institute of Technology, Kolkata
Kolkata, West Bengal | Maulana Abul Kalam Azad University of Technology, KolkataNIRF Rank : 160
Manav Rachna International Institute of Research and Studies, Faridabad
Faridabad, Haryana | Manav Rachna International University, FaridabadNIRF Rank : 164
Pimpri Chinchwad College of Engineering, Pune
Pimpri-Chinchwad, Maharashtra | Savitribai Phule Pune University, PuneNIRF Rank : 192
Which industries are open for Accountant?
- Financial services industry
- Professional & Business Services
- Private Agencies/ MNCs
- Agencies & Consultancies
- Manufacturing Industry
- Corporate Office
- Health care industry
- Education industry/ Sector
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Are there internships available for Accountant?
Take the opportunity to work under a CA or professionals who expose you to the industry. It will allow you to have practical learning about the field and give you contacts for future reference.
What does the future look like for Accountant?
As the economies continue to grow due to globalization, leading to stricter tax and regulatory environments, there is a rise in the demand for accountants’ expertise across organizations. Since these professionals are crucial to handle the accounting needs of an organization, they can be employed by a range of companies, businesses, not-for-profit organizations, and individuals. They are typically employed by private accountancy firms, government agencies, and small to large businesses.
Many accountants choose to be self-employed, working independently to serve small businesses and individual clients. It is primarily an office-based job with standard business hours. However, they may be required to extend their work hours during tax seasons to meet the filing deadlines. With ample experience in the field and a demonstrated skill, an accountant can advance to the role of finance manager, account manager, financial controller, or chief financial officer. Having said that, the nature and level of competency of accountants may change. We live in a time when startups are dealing with billions of dollars. In order to keep track of such large sums of money, businesses are looking for expert accountants who are not only good at crunching numbers but also have a keen business sense.
Accounting careers cover a wide range of fields, including business, trade, government, financial institutions, individuals and families, and many others. Accounting functions include keeping track of financial transactions. Individuals and families must maintain accounts as well. A qualified accountant can work in government, the public sector, or the private sector. Accounting career opportunities are important in the organisation, and an accountant`s responsibilities include auditing and assurance, tax consultancy, Accounting Services, Accountants and Finance Outsourcing, and Financial Reporting. The raging rate of firm expansion undoubtedly provides a plethora of opportunities and growth for aspirants looking to build a career in this job profile.
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