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Doctors, engineers, professors, and accountants. What is common to them is that they do not need any validation as conventionally reputed, respected, well-paying jobs that anyone would want to take up (not that these are only jobs people would love to do). It is not a hidden fact that accountants earn well, have a great cabin in the work-place, and generally end up doing very well for themselves.
The work of an accountant requires you to not only be comfortable, in fact great with numbers, but also organized, and meticulous. An accountant is responsible for maintaining records, analysing, interpreting, assessing and auditing all the financial transactions and statements of a firm, and thus integrity is also an important issue. Apart from all this, of course, formal knowledge of accounting principles and a sound knowledge of financial statements and what they entail is mandatory. An accountant also has to ensure, with the financial statements as proof, that the firm is in good running condition, so as to keep the financiers, investors, suppliers and all those involved in the company well updated about the financial performance of the company/ firm.
Apart from the formal education, and certain personality traits, certain other criterion needs to be met before you can work as an accountant. An accountant may work under the designation of a Chartered Management Accountant, International Accountant, Public Finance accountant, Public Accountant, Incorporated Financial Accountant etc. However, all of these require membership of the different governing accounting bodies; which requires the members to take tests and have work experience in the specified field of accounting. The membership also implies that the accountants will work in accordance with the policies, norms and practices of the governing body. Financial accounting done by individuals that aren?t members of the governing bodies is not considered legal, and thus membership is mandatory if you want to work as an accountant.
Becoming an accountant thus requires a lot of hard work before you can enjoy the perks of the profession (which more than make-up for all the effort). It is only after completing the formal education, clearing the tests and work experience required by the governing accounting body, that you can practice accountancy legally.
The work of an accountant, though different from a book-keeper and auditor, involves analysing, maintaining and assessing financial statements of a firm to maximize profit. An accountant can choose to specialize in the various branches of accounting- finance, cost, tax, fund, management, etc. Accountants specializing in specific fields are desirable because that helps ensure competence in various areas of accounting.
While some accountants work with a particular firm, there are others who work on contracts for different firms and offer their services as and when required. However, the basic qualifications for being an accountant remain the same. The ACA (Association of Chartered Accounts) is one of the most reputed bodies for studying accountancy. Though graduation is not essential, it is definitely desirable. A training period is mandatory in all institutes, and as a trainee, you may even earn some stipend while interning.
However, once all this is done, there is no stopping you from being a part of a profession which brings a handsome salary, prestige and reputation and growth prospects. Not meant for just anybody, the accounting profession calls for a mind well trained in dealing with finances and sound management of the resources, expenses and profits of a company. If you fit the bill, rest assured there will be no looking back.
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