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Apercu of Accounting
Accounting is essentially the manner in which companies keep track of their profit margins and assets
over a certain duration of time. Also referred as the language of business, accounting is an
interdisciplinary field within a broader business sphere. Interesting career paths, exciting opportunities,
and professional growth are all offered by the accounting industry. It is regarded that in order to perform
well in this profession, one must be detailed-oriented and should be able to synthesize, translate, and
expand appropriate and suitable business actions using financial data.
As stated previously, accountants are engrossed and engaged in various job functions. According to
Florida Tech University, the salary of an accountant ranges from $50,000 to $100,000, with the Tax
Manager getting the highest pay package. The list below contains some of the career paths that an
accountant can pursue.
Entry-level Accountants draw up and examine financial statements, conduct financial reporting,
carry out A/R and A/P roles, and help the management with budgeting and planning tasks.
15301 Dallas Parkway, Suite 960 Addison, Texas 75001 Phone: 214.545.3965 Fax: 214.545.3966 www.bkmsh.com
Lead or Senior Accountants are engaged in conducting audits and in preparing financial
statements. Moreover, they develop the internal controls and give directions and delegate the tasks of
staff accountants.
Accountant Supervisors or Managers manage, handle, and oversee the entry-level and senior
accountants. They are at the helm of designing and authorizing accounting practices. These practices
can either be the audit program, procedures for internal control, operational budgets, or business
financing, among other things.
Most employers look for accountants who possess the know-how on Generally Accepted Accounting
Principles (GAAP), financial data analysis, evidence integrity analysis, and business valuation, among
other things.
Financial Accountants
These accountants are involved in preparing financial statements (balance sheets, income statements,
cash flow statements and statement of owners equity) based on general ledgers. They also play an
important role in making financial decisions concerning mergers and acquisitions, Employee Retirement
Income Security Act (ERISA) planning, and abiding financial estimates and plans. Financial
accountants also document and disclose business proceedings and financial activity.
Financial accountants can embark on different career paths based on their experience and know-how.
They can work as bookkeepers, financial analysts, or financial officers. Their job description includes:
verifying the correctness of business undertakings and computations; gathering and evaluating data
and producing reports regarding the companys financial movements; supervising all financial
proceedings of the entity; and delivering solid financial disclosures for the management, shareholders,
and investors.
Tax Accountants
Tax accountants are considered as the experts in preparing tax documents for local, state, and federal
taxes. They usually work longer hours during tax seasons, remain updated on code changes, and
inform, clearly, the responsibilities and concerns to their clients. Moreover, people in this line of work
need a good grasp and deep knowledge of economics and tax code.
Management Accountants
Management accountants or corporate accountants usually work for corporations as part of teams.
They present data and findings that are essential to company executives especially when they want to
make decisions. In addition, the presented information can also be utilized in preparing financial reports
that are disseminated to stockholders, creditors, regulatory bodies, and the Internal Revenue Service
(IRS). Furthermore, management accountants function as strategic partners during the chain of
information processing and value.
15301 Dallas Parkway, Suite 960 Addison, Texas 75001 Phone: 214.545.3965 Fax: 214.545.3966 www.bkmsh.com
15301 Dallas Parkway, Suite 960 Addison, Texas 75001 Phone: 214.545.3965 Fax: 214.545.3966 www.bkmsh.com
15301 Dallas Parkway, Suite 960 Addison, Texas 75001 Phone: 214.545.3965 Fax: 214.545.3966 www.bkmsh.com
15301 Dallas Parkway, Suite 960 Addison, Texas 75001 Phone: 214.545.3965 Fax: 214.545.3966 www.bkmsh.com