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Deciphering The Life Of An Accountant | Financial Planning Tips

Deciphering The Life Of An Accountant

The financial world would be incomplete without the accountants, hands down. Whether it be a small business or the larger corporations, all of them need to have the services of professional accountants. The primary duty of expert accountants is to come up with accurate financial documents ensuring the company, in terms of finances, hides nothing; therefore, the financial procedures are carried out in a serene manner. Without accountants, the financial world can be placed under immense jeopardy. People consider the investors and entrepreneurs as the ‘Big Thing’ in connection to the business motif, but the role of proficient accountants is undeniable.

Duties of an Accountant

The accountants have to deal with several business issues including the ones related to finances, expenditures, profits, sales and payrolls. The exact job description of an accountant varies according to the organization he/she is associated with. From auditing to taxation, an accountant helps a business entity with all the financial matters.

Most of the accountants prefer working as a financial analyst, while others work as a financial planner, or as both.

Features and Earnings of Accountants

Accountants are amongst the top-paid professionals throughout the world. Whether it be a Certified Public Accountant (CPA) or a Certified Management Accountant (CMA), the monetary benefits are there for the taking.

The stats given by the Bureau of Labor Statistics (BLS) indicates that the fresh accountants make $42,520-$75,000 a year. With experience up their sleeves, accountants can enjoy an annual salary of around $95,000. A CPA having more than 10 years of experience can even expect around $100K per year.

Types of Accountants

In the US, there are primarily four types of accountants working in private as well public sector. The Public accountants work for the public companies to assist the public with issues related to audit, tax and deductions.

Government accountants deal with the finances and tax related issues of government and government-based projects. It is the responsibility of the government accountants to keep the government financial record accurate and truthful.

Internal auditors only deal with the auditing procedures of a company. They ensure the inflow and outflow of the funds within the organization is in accordance with the business as well as the legal procedures, which are to be followed by the company. The last group on the list are the management accountants who oversee the payouts and profits of the company they are associated with.

Work Geography of Accountants

Most of the accountants work in the metropolitan areas, while some prefer working in the urban and dense areas because of several corporate jobs there for the taking. The accountants living in smaller cities come up with their own accounting firms offering financial and legal services to the businesses located in the region.

For more tax help if you are in the Houston area, look at Jeff Canady in Houston.

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