The Importance of an Accountant in the Corporate World

The Importance of an Accountant in the Corporate World

Around the world, certain job tenants are very perceptive, highly paid and considered as the backbone of any federation, organization or business. The Accountant of an assembly or business is one of them. Typically, you can’t drive your ship to the shore in hurricanes without a captain. You can’t win a football or baseball rivalry without the strategies & plans of your mentor. Likewise, you can’t operate your business successfully without a professional accountant. When we talk about a successful business, we must need a professional accountant to fulfill the role of the backbone for our business and to take the ship of our business as a captain in the hurricanes to the shores.

A Professional Accountant is one under who’s surveillance the most valuable documents made of the business. A professional accountant has one of the most significant tasks in any business, whether it’s a large enterprise or a small one. Because, he keeps track and record the flow of money. A professional accountant makes sure all money transactions are accurate, genuine and all these transactions are legal by following up-to-date guidelines. He/she can work full-time for a company, or on a contractual basis to do the books or tax returns. On the other hand, can work for individuals to assist with their financial decisions, tax returns, or other money-related concerns.

When we study the stats, the job of an accountant is one of the most highly paid and satisfying jobs in the world & particular in the USA.

According to the U.S News & World Report,

An accountant stands 7th in the list of top ten best businesses in the USA. A maiden account in the USA makes around $ 70,500 yearly. With a merely 1.8% unemployment rate, its Job market is 80%, future growth rate more than 50%, work-life balance 80%. Opportunities for promotions and wages are high & flexibility in the job is above average”

(U.S News & Worlds Report’s ranking and advice served as valuable references when making life’s toughest decisions for 30 years.)

Further throwing light on the services, a professional accountant interacts with internal and external auditors in completing audits. Explains billing invoices and accounting policies to staff, vendors, and clients. By using the skills in Mathematics, Accounting, Law, and Finance, analyzes profits and losses. At the same time, provides information that investors and business owners need to see how a company is doing over a while. This information forms the basis of a company’s report and legal filing reports.

Prepares and reviews budgets, revenue, expenses, payroll entries, invoices, and other accounting documents.

Analyzes and reviews the budgets and expenditures for local, state, federal, and private funding, reviews contracts and grants. Prepares profit and loss statements and monthly closing and cost accounting reports. Monitors revenue and outgo trends and recommends appropriate budget levels, and ensures expenditure control.

Location also plays an important role in determining an accountant’s earning potential. For example, if you’re the citizen of New York, Boston & San Francisco, you can earn 41% more through this work as compared to the rest of the world.

According to the Accounting and Finance Salary Guide compiled by Robert Half last year,

“Individuals in all industries and professions who live in areas like Boston, New York City, and San Francisco earn an average of 34 percent, 40.5 percent, and 41 percent more than the national average, respectively”

In the Light of research made by Robert Half,

” Accountants with one to three years of experience can earn between $51,500 and $96,500 annually. Those with five or more years of experience can earn as much as $129,250 per year”