Accounting is one of the most sought after career options available for finance graduates. The demand for accountants in small or large enterprises makes is a lucrative career option. If you find the task of financial management, tax planning and strategic business planning a challenging and growth oriented field, then an accounting job is the right option for you. The following article discusses the major services offered by an accountant.
Accounting is a career option that offers a job role that develops expertise in different areas of work. These professionals are largely hired by small or big companies and corporate clients to make the best of use their knowledge in different work, including financial planning, bookkeeping, strategic business planning, and tax services.
Nowadays, accountants find lucrative job opportunities due to an increase in the demand for offering important services such as preparing financial statements and generating tax returns. Proving to be an important asset in the business scenario, account job is the gateway to a successful career.
Services offered by accountant
If you are good at number crunching and looking for accounts job, take a look at the major services offered by accountants.
These include:
Financial Planning
An accountant offers the major financial decisions related to business and personal needs. Financial planning is required in almost every small or big decision such as leasing or buying a property, planning a personal or business trip, buying computer equipment, or investing money. An accountant acts as a financial planner who considers tax implications and financial impact on any investment. The key focus is on financial risk management and financial control to ensure the fulfillment of the purpose of the client.
As a financial planner, an accountant also offers guidance in estate planning, retirement plans, insurance schemes, investment strategy, and asset protection.
Tax services
Accountants also offer their services in tax planning services. With the advancement of computer technology, it has become much easier for accounts professionals to file and prepare tax returns of their clients in less time and cost. The expertise of accountants is highly beneficial in understanding the yearly changes in tax law and take advantage of tax deductions and savings. These professionals are much in demand for their tax services as it helps the clients in avoiding filing errors.
Bookkeeping
Although for many corporate clients, the availability of financial software and computers has made it convenient for them to manage their bookkeeping and practice finances, however using the services of an accountant in bookkeeping is a major advantage for companies. This is mainly because an accountant can do more than simply keeping the track of company’s balances, receipts and payments but also offer assistance in interpreting financial data.
Business Planning
Strategic Business Planning is another area of work where an accountant is highly employable. As a business advisor, an accountant job also includes offering business planning services to their corporate clients. For this role, an accountant needs to have a thorough knowledge of the business profession to offer guidance in their client’s business goals. Strategic business planning involves managing revenue, planning proper business structure, efficient use of available resources and identifying problems.
Apart from analyzing the business operations and finding solutions to the key problems in client’s business, an accountant job requires the professional to focus on the few important things on behalf of their clients:
- Budgeting
- Compensation and staffing
- Monitoring cash flow
- Billing and collections
- Making financial projections
- Analyzing marketing approaches
- Analyzing return on investment
- Monitoring the overall financial performance
Hence, as an accountant, one can find several opportunities to work in different roles and earn handsome salary package. So, are you ready to influence the business and financial planning decisions of the people looking for your valuable services?