Accountant

Summary

Accountants analyse, report and give advice on the financial dealings of organisations and individuals, and advise on associated record-keeping and compliance requirements.

Duties & Tasks

Accountants may perform the following tasks:

  • assist in the formulation of budgetary and accounting policies
  • prepare financial statements for presentation to boards of directors, management, shareholders and statutory bodies
  • conduct financial investigations, undertake audits, prepare reports and advise on such matters as the purchase and sale of businesses, mergers, financing, suspected fraud, insolvency and taxation
  • examine the income and expenditure of institutions
  • provide assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
  • provide financial and taxation advice on business structures, plans and operations
  • liaise with bankers and brokers to establish funds management arrangements
  • advise on the selection and application of computer-based accounting systems
  • appraise cash flow and financial risk of investment projects.

Specialisations

Auditor

An auditor makes sure that financial statements are true and fair by checking that assets and liabilities mentioned in reports exist, analysing samples of work done and interviewing staff. Auditors are increasingly asked to audit figures relating to environmental emissions.

Budget Accountant

A budget accountant primarily concerned with the development and maintenance of budgeting systems. This involves monitoring budgets and comparing them with actual costs and revenues. They analyse records to determine trends, which assists in managerial control.

Bursar

A bursar responsible for the accounting and general business operation of schools or tertiary institutions. This may include fundraising.

Cost Accountant

A cost accountant develops and directs systems so that costs can be recorded and analysed to work out each unit cost. This involves analysing changes that affect production costs (raw materials, manufacturing methods, factory overheads and wages, for example). They provide management with reports to assist in decision-making about production volumes, sale prices and additions or deletions to product lines and/or manufacturing or distribution resources.

Finance Manager

A finance manager prepares reports for management, summarising the business' financial position in the areas of income, expenses, capital usage and cash flows, and assists with the preparation of strategic plans, budgets and financial forecasts. Finance managers also determine fund requirements and strategies to invest surpluses and assist in the development of accounting and management policies and procedures.

Forensic Accountant

A forensic accountant analyses and prepares accounting documents for use as evidence, often for a court of law.

Investment Analyst

An investment analyst evaluates the value of companies for potential buyers and investors, and investigates businesses being sold, bought or merged.

Liquidator and Receiver

A liquidator and receiver assists and advises businesses in financial difficulties, organises company closures in line with legal requirements and, in the case of bankruptcies, sells assets.

Systems Accountant

A systems accountant analyses financial information needs for organisations by reviewing existing systems and working out the best way to meet those needs.

Taxation Consultant/Taxation Agent

A taxation consultant/taxation agent prepares taxation returns and reports, provides advice on tax issues and handles disputes with taxation authorities.

Treasurer

A treasurer plans short- and long-term finance and advises on the financial consequences. They design and manage investment portfolios to minimise financial risk.

Working Conditions

Accountants may work on their own or with other accountants. Accountants in private practice have a high level of public contact. Some positions involve travel, which is often interstate or overseas.

Personal Requirements

  • good communication skills
  • good presentation skills
  • able to build rapport with clients
  • able to analyse and solve problems
  • good organisational skills
  • discretion when dealing with confidential information
  • professional and ethical
  • able to work as part of a team.

Related Courses:

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