Meaning and definition of accountant
An accountant is a professional person who carries out accounting functions like financial statement analysis or audits, accountants can be employed either with an accounting firm, a large company with an in-house accounting department, or can even set up an individual practice.
As explained by Investopedia, it is essential for the accountants to abide by the guiding principles and ethical standards of the region of their practice, like GAAP or IFRS. The most common designations for accounting include CMA, CA, and CGA. The kind of educational background and degree possessed by an individual indicates his/her professional duties.
Becoming an accountant
A special type of aptitude with numbers and a close consideration to detail is required for successful accountants. Besides, a successful accountant should essentially possess excellent computer skills and be adroit at oral as well as written communication. This is a career wherein education and unvarying accuracy hold utmost importance.
Job description of an accountant
The job of an accountant includes working to make certain that business companies and individuals are maintaining proper records in addition to paying proper taxes on time. Although the job description for accounting may be simple for some accounting positions while others are not quite as clear due to the various duties required to be performed by the accountant.
Generally, an accountant performs functions that are imperative to all businesses and individuals as well, of all the types by proffering wide ranging business and accounting services, counting management, public, and government account in addition to internal auditing.
Accountants in all the aforesaid areas may work for a company, or can also be employed by an accounting firm, which, in turn, would be hired by a company for consulting. Besides, an accountant can also opt for self-employment, and proffer accounting services to businesses, individuals, or both.
The job description of an accountant, however, also includes strong interpersonal and communication skills besides technological and educational requirements only because most accountants are required to work as teams with others coming form different backgrounds and may also require the capability of communicating financial and accounting info concisely and clearly.
- Debt ratios
- Liquidity ratios
- Profitability ratios
- Asset management ratios
- Cash Flow Indicator Ratios
- Market value ratios
- Financial analysis
- Business Terms
- Financial education
- International Financial Reporting Standards (EU)
- IFRS Interpretations (EU)
- Financial software
Most WantedFinancial Terms
- Most Important Financial Ratios
- Debt-to-Equity Ratio
- Financial Leverage
- Current Ratio
- Interest Coverage Ratio (ICR)
- Solvency Ratio
- Receivable Turnover Ratio
- Return On Capital Employed (ROCE)
- Accounts Payable Turnover Ratio
- Debt Service Coverage Ratio
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