What Does an Accountant Do? (and 8 of the Best Reasons to Hire One)
What Does an Accountant Do?
Accountants perform various duties that help individuals and businesses better understand their cash flow needs, prepare their income tax returns and work towards achieving their financial goals. Let’s discuss the roles and responsibilities of accountants, what you can expect if you decide to work with one.
Roles and Responsibilities of an Accountant
Several of the most common roles and responsibilities of an accountant include: 1. Ensure financial documents and accounting records are accurate 2. Identify and address accounting discrepancies. 3. Compute sales and income tax returns and make sure taxes are paid on time.
Key Skills of an Accountant
The most important skills of an Accountant include: 1. Analytical Skills 2. Attention to Detail 3. Communication Skills 4. Technical Expertise 5. Organizational Skills 6. Problem Solving Skills 7. Business Acumen 8. Critical Thinking Skills
Types of Accountants
Those who wish to pursue an accounting career can decide which type of accountant they’d like to be. A few of their options include: 1. Managerial Accountants 2. Public Accountants 3. Government Accountants 4. Internal Auditors 5. External Auditors
Should I Hire an Accountant?
You don’t need an accounting background to record your income and expenses. However, an accountant may be a good investment in the following circumstances: 1. You Own Your Own Business 2. You Plan to Start a Business 3. You Earn a High Income 4. You Plan to Leave an Inheritance for Your Loved Ones
Should I Hire an Accountant or Financial Advisor?
Put simply, a financial advisor is a great option if you’d like to build your wealth over time and learn about the pros and cons of your investment plans. On the other hand, an accountant can help you analyze your income and expenses, pay your state and federal income taxes, and keep your financials in order.
How to Become an Accountant
There are specific steps an aspiring accountant must undergo to enjoy a successful and fulfilling accounting career. These include: 1. Earn a Degree 2. Choose a Specialty 3. Decide Between an Accountant or CPA 4. Pass the CPA Exam 5. Secure an Entry-Level Job
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