Are you good at handling numbers? Do you enjoy being organized as well as detail-oriented? If these apply to you, then a career as an accountant can be perfect for you. As an accountant, you will be tasked with maintaining the client’s financial records. You could also be asked by the client to interpret their financial records or offer advice on how to maintain their finances better. Your clients will include individuals and businesses who need help with understanding and maintaining records of their finances.
If you want to be an accountant, then there are different kinds of accounting that you can do. Here are the different types of accountants and what they do.
1. Certified Public Accountants
Also known as CPAs, you will need to pass the Uniform CPA exam in order to pursue this career path. A CPA is responsible for handling myriad accounting tasks, such as preparing taxes, planning finances, overseeing audits, and more. You could find yourself working as a public accountant, a corporate accountant, working for NGOs, and more,
2. Management Accountant
Also known as a cost accountant, you’ll be helping businesses with their budget. You’ll need to know how to convey details of the business’ accounts to business managers as well. You will need to help with cash flow forecasts, analyzing the rate of return, and more. You’ll also be helping people in senior management make financial decisions.
Your role involves examining financial records in order to ensure that they are accurate. They should also be in compliance with various tax laws and other standards of accounting. You can either choose to be an internal auditor or an external auditor. As an internal auditor, you’ll be helping the business manage its financial practices. External auditors, on the other hand, don’t work directly for the company and help the business analyze its financial records.
4. Chartered Accountant
A chartered accountant is someone who is granted the right to perform accounting duties in various countries outside the US. You’ll be helping businesses and individuals with their taxes, financial accounting, reporting finances, management accounting, and more.
5. Forensic Accountant
You’ll need to analyze business and financial records in order to ensure that they are accurate. You should know not just how to analyze these records but also interpret them for the benefit of the client. A forensic accountant works across various industries – from banking to government agencies and more. The financial analysis that you provide can be used in legal proceedings as well.
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6. Investment Accountant
If you choose to become an investment accountant, then you’ll work with brokerage and asset management companies. Your main job will be to help your clients manage their investments. You may also be expected to provide financial advice from time to time. You will also need to help the firm you’re working for create and implement financial strategies. You should also know how to prepare tax reports and have an in-depth knowledge of investment-related regulations at the state and federal levels.
7. Government Accountant
You could be working for the government at the local, state, or federal level. You’ll need to manage public funds, perform system audits and also investigate crimes that are white-collar. You should know what the different government statutes are and understand business codes as well as private and public sector regulations. If you’re working for the state government, then you’ll be helping create budgets for the city. You will also need to ensure that public funds are being used on the infrastructure of the city.
8. Project Accountant
Project accountants typically work close together with project managers, external suppliers, and accounting teams. You could find yourself working for an engineering firm or a construction company. While project accountants work mainly in these two industries, you can also be hired by private businesses, government agencies, NGOs, and even educational institutions.
Your job will involve managing various projects, focusing specifically on the financial results of the project. You should also know how to create project proposals that enable teams to realize what the financial scope of the project is.
9. Financial Advisor
Your job will involve helping individuals make decisions on how they invest or spend their money. You’ll be helping create financial plans for your clients that help them reach their financial goals. You’ll help your clients understand more about tax strategies, investments, budgeting, and saving money.
10. Tax Examiner
You’ll be examining tax returns on the local, state, as well as federal levels, both for individuals as well as businesses. You’ll determine what the client owes in taxes. Then, you’ll collect the tax for the government. You should ensure that the tax returns you’re checking are accurate and complete. You’ll be working for the government and helping taxpayers pay their taxes properly.
There are several career paths that you can pursue if you want to become an accountant. From working for the government to working for businesses and individuals, accountants work in various industries. This guide takes you through the ten most common kinds of accountants.