Accountancy jobs never go out of the market until businesses and financial transactions exist. The accounting jobs never lose their significance because accounting is crucially important to trade, commerce and government. Accounting jobs fall under private and public categories depending on the job nature. Here are some of the popular accountant job variations in India.
Auditors: They keep account of the financial records. They must analyse and verify documents related to financial transactions.
Forensic Accountants: This job sector deals with white-collar crimes. They investigate security fraud and help the business or court with legal issues.
Tax Accountants: These professionals are trained in taxation and related frameworks. They have the authority to represent taxpayers with transactions related to internal revenue service.
Financial Advisors: This falls under the consulting category jobs. Such professionals help give financial and tax related advice to organizations and individuals.
Controllers: Such professionals or industry experts manage the accounting departments for companies.
Bookkeepers: They manage accounting transactions and prepare financial statements.
Chartered accountants: The Institute of Chartered Accountants of India (ICAI), conducts CA exams and certifies candidates as a qualified Chartered Accountants on successful completion of the three-level course. Such professionals provide advice, guidance, audit accounts and provide trustworthy information about financial records for organizations, individuals and groups. CA certified people handle financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and similar processes.
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The basic eligibility or qualification for accountant jobs are bachelors in commerce or equivalent. The requirements and qualifications might vary depending on job role and industry. Accounting certifications and additional degrees always give more value to the job role. Here are some of the additional skill sets expected from accounting professionals.
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Accounting is an integral part of every business. A business irrespective of the size can not survive without the help of professional accountants. Accounting professionals play a vital role in bookkeeping, auditing, tax preparation services, and consultancy among other roles. Here we are listing some reasons why this profession is mandated for all businesses.
Ideate the business structure: Accounts can ideate the business structure than any other professionals. Examples of business structures include corporations, LLC and partnership, among many more.
Creating a business plan and financial analysis: Efficient accounting knowledge is vital to have a successful business plan. Accountants can also advise on selecting the right accounting software for the company.
Tracking business transactions: Accountants can track all your business transactions which includes expenses and earnings. Proper accounting will help dealing with financial confusions.
Tax and related services: An accountant can keep a track of a company's tax needs and returns efficiently than anyone else. Successful businesses rely on accounting services and software to calculate and prepare ITR details.
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1) Which are the top industries hiring accounting professionals?
Although accounts and finances are intrinsic to every industry, Education, Government, Healthcare, Hospitality, Retail are some of the top industries that hire accounting professionals.
2) What is the average salary of an Accounting job in India?
According to Payscale, the average salary of accountants comes around 2.75-3 LPA. The salary benefits get better with experience and additional certifications. CPA Professionals (in India) are paid INR 7,68,552 and a Chartered Accountant earns a salary of INR 6,08,976 per year on an average.
3) What are the most commonly used accounting software?
Knowledge in accounting software can be a win-win for employees. Such software eases the job hurdles and gives efficient results. Some of the most popular accounting software are: Tally, QuickBooks Accounting, Xero Accounting, FreshBooks Cloud Accounting, Wave Accounting, Sage 50 Accounting.
4) What are some of the best accounting courses?
5) What is cloud accounting?
Cloud computing accounting software is like traditional accounting software except for the fact that it is hosted on remote servers. It is one of the most demanded skills now so getting a certification in cloud accounting or related software can be an add on to an accounting professional resume.
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