An accountant is someone who specializes in individual and business finances. They help people in the business by giving information and advice about finance and transactions. According to accountants of Moonee Ponds, an accountant also keeps track of business transactions, monitors financial performances, and reports them to the company in some cases. If you want to be an accountant, you need to study accounting. Accounting is a subject that teaches you various things regarding finance, for example, measuring and managing financial information for investors, business owners, etc. To have a concept of the accountancy profession, we need to discuss the type of accountants in the field.
Types of Accountants
Certified public accountants (CPAs)
A CPA or Certified Public Accountants are accounting professionals who supervise and manage all the aspects of a company’s finances. People hire them mostly for tax preparation, audits, financial reviews, and litigation services. They are the most trusted financial advisor and perform their tasks diligently.
Auditors are a type of accountants that perform audits for a company and record reviews. Auditors may also assess and maintain financial records, analyze account books, verifying financial statements, and providing financial advice.
Forensic accountants are specialists who examine and keep track of financial records. They can also do record reviews and determine financial errors, fraud, etc. Most forensic accountants work in investigation support.
Government accountants work in a city, state, or county to analyze the dollars in taxes. He or she may also help the government to come up with a financial plan each year. Government accountants also work for the IRS and can audit either individuals or companies.
Management accountants help business owners and managing entities by assisting them in making financial decisions for their companies. A management accountant also prepares business budgets, analyzes profitability, and exercises risks for companies. The management accountants also prepare the fiscal aspects of a company so that others understand. Like as an accountant in Strathmore.
A cost accountant helps other’s business improve the company’s processes to make it more profitable. The accountant may analyze all costs about labor, production, operations, etc. Cost accountants bring out information then make recommendations based on that.
Staff accountants are professionals that are a part of a company. Staff accountants take responsibilities to maintain a company’s accounts, analyze and prepare financial statements, maintain payroll, reconciling, and other bookkeeping responsibilities.
How to become an accountant
You need a bachelor’s degree
To become an accountant, you need a minimum of a bachelor’s degree and certifications. Having a bachelor’s degree, you can be on higher grounds against your competitors and also have the opportunity to increase your yearly salary. You can also get an internship or entry-level position to gather experience. The experience will make your portfolio healthy.
Choose a specialty
We know by now that there are a few different types of accountants that work in various fields. Therefore you need to decide which type of accountant position you want to pursue. Based on that, you need to choose a subspecialty such as taxes or auditing.
Determine your path
Determining the career path you will pursue will give you a better idea of what you want to achieve to practice your specialty actively. To become a CPA, you need to have some requirements to practice accounting. The requirements can vary, but most include a bachelor’s or master’s degree. Then you need to pass the CPA exam.
Pass the exam
If you choose a career as a CPA, you need to pass the CPA exam. The CPA department is divided into four sections CPA exam, Regulation, Financial Accounting, Business Environment, Auditing, etc. After passing the exam, you can sit to practice.
There you go, various types of accountants, and what do you need to become one. You can either choose to be an accountant or CPA, that’s up to you. Hope this article helped you understand the types of an accountant.