The best areas to specialise in as an accountant and the highest paid jobs.
What Area Should You Specialise In?
Where Are The Highest Paying Jobs?
Accountant Job description - What Does An Accountant Do?
An accountant prepares and examines financial statements and reports. They analyse the financial performance of a business and assist C-suite Executives and Directors of a company to make accurate and profitable financial decisions.
They ensure taxes are paid accurately and on time.
Accountants also assist individuals to calculate and submit their annual tax returns. They also help them create plans to improve their financial well being.
- Maintain financial records
- Prepare, examine and analyse financial statements and records
- Advise clients (company or individual) how to improve their financial performance
- Ensure their company and individual clients comply with all laws and tax codes
- Calculate taxes owed by clients and prepare returns
- Perform audits
Bookkeeper vs Accountant
A Bookkeeper records the daily financial transactions of a company including payments, sales and payroll.
An Accountant then analyses and interprets the financial information and turns it into reports and data used for decision making.
A Tax Accountant specialises in tax. They have an in-depth knowledge of tax law, so are able to minimise the tax payable of their corporate or individual clients.
Certified Public Accountant, Certified Practicing Accountant (CPA) and Chartered Accountant
When an accountant is awarded their qualifications they are usually referred to as a Certified Public Accountant, Certified Practicing Accountant or Chartered Accountant. Their title is commonly referred to as being a CPA. Continuing Professional Education (CPE) is required to maintain the title of CPA.
A Senior Accountant is an experienced account who usually oversees other accountants.
Staff Accountants look after the basic accounting requirements of a company, which include general bookkeeping, preparing budgets and preparing financial reports. They are also commonly responsible for accounts payable and receivable and preparing the company tax returns.
An Assistant Accountant is a less experienced accountant who assists a senior accountant or other accountants in the company.
Business Accountant is the common term used when referring to any accountant who assists business owners.
An Accountant Salary can vary depending on experience and specialisation.
- Salary Range – $45,000 to $85,000 per annum
- Average – $60,000 per annum
Some accountants who specialise in corporate accounting can earn over $200,000 per annum.
How To Become An Accountant
You don’t need a degree to act as an accountant, however to specialise in specific areas and to maximise your income you will need a degree such as a Bachelor of Business (Majoring in Accounting).
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