An accountant performs accounting functionalities such as accounts analysis, auditing, or financial statement analysis. Accountants either work for an accounting firm or the internal accounting department of a large company.
National professional associations certify these professionals after meeting state-specific education and testing requirements. They can also establish their practice. Accountants may maintain multiple accounts, both private and public. These accounts can be held by a company or an individual.
As a result, they can find work with companies of any size from small to large governments, and some organizations such as nonprofits, or they can set up their private practice and work with individuals seeking their services. HashMicro’s government ERP system can automate an organization’s administrative and operational processes, increase real-time transparency of information, and ensure data security.
They are responsible for various accounting tasks, depending on where they’re working. Accountants perform account analysis, review financial statements, documents, and other reports for accuracy, perform routine, and annual audits, review financial operations, prepare tax returns, advise on areas that need more efficiency and cost savings, and provide risk analysis and forecasting.
Table of Contents
- Types of accountants based on specifics
- Seven Types of Accountants by Professional Need
Types of accountants based on specifics
1. Public Accountans
CPAs are upper-level accountants recognized as experts in an organization’s accounting records, taxes, and financial standing. While some of their work involves taxes, their involvement is usually more in-depth than simply dealing with taxes.
A CPA’s role is that of a trusted advisor, assisting clients in planning and meeting their financial goals, as well as other fiscal matters. Audits and reviews, forensic accounting, consulting, and litigation services could all fall under this category.
To become a CPA, you must first obtain a Bachelor’s degree from an accredited Accounting program and then pass the Uniform CPA Examination, by rigorous series of evaluations used to gauge your abilities in four key accounting focus areas. We recommend that you compare CPA review programs and choose an exam review course to increase your odds of passing the Uniform CPA Examination.
2. Forensics accountant
Forensic accountants are the accounting world’s detectives. These professionals examine financial records to ensure that they are in accordance with standards and laws. In addition, forensic accountants are hired to find errors, omissions, or outright fraud in financial records.
To land one of these accounting positions, you must have a unique skill set that combines the mind of a “numbers person” with the curiosity of an investigator. Forensic accountants frequently work in the areas of investigation or litigation support. In some cases, they can testify as expert witnesses in court.
3. Government accountants
Government can take many forms. Aside from the federal government, there are state, county, city, and district government entities. What do all of them have in common? Accountants are required to keep financial records.
These professionals are responsible for ensuring that hard-earned taxpayer funds are spent wisely and prudently. They also assist government agencies in planning their fiscal year’s activities. Some government accountants work for agencies such as the Internal Revenue Service (IRS), where they audit private businesses and individuals.
Accountant positions in the government typically require at least a Bachelor’s degree in accounting. A Master’s degree in accounting, finance, taxation, or business administration is typical among government accountants.
Auditors are an organization’s accuracy experts. Many organizations, from for-profits to nonprofits, must conduct an annual audit to ensure that their records are accurate. Auditors are typically brought in from outside an organization to analyze numbers objectively.
Generally, accounting professionals are responsible for reviewing financial statements, inspecting account books and accounting systems, organizing and maintaining financial records, and assessing financial operations to make recommendations for improvement. Some auditors specialize in a specific field or industry.
5. Management accountant
When making critical strategic decisions, business leaders must aware of an organization’s financial health and how it is impacted. It is the responsibility of management accountants to provide this information so that sound decisions about a company’s future can be made.
Planning and budgeting, external financial reporting, risk management, profitability analysis, and other duties are standard for these types of accountants. In addition to technical accounting skills, management accountants must organize and present information in a way that business executives can understand.
Earning a Bachelor’s degree in accounting is the first step toward obtaining this accounting job title. Management accountants may also choose to pursue certification, such as the Certified Management Accountant (CMA).
Also read: Marginal Cost: Definition and Calculation
Seven Types of Accountants by Professional Need
There are several names of the accounting profession in Indonesia. Of course, this profession is based on the specifications of the work done. It also complements existing references to increase career paths for professionals.
1. Financial Planner
A financial planner must have skilled in practicing their profession. One way to become a financial planner that must complete is by doing an internship at a company. You can then obtain a certificate as a financial planner issued by the relevant agency. Finance ERP Software from HashMicro automates daily business operations and optimizes client requirements fulfillment in a real-time platform.
2. Credit Analyst
A credit analyst is needed in companies engaged in finance, for example, banks, financing institutions, or leasing. Credit analysts have the main task of analyzing the ability of prospective credit or debt seekers. This is done to determine the ability of prospective credit seekers to make loan payments, namely the principal cost of the loan plus the agreed interest.
3. Financial Analyst
Financial analysts in carrying out their work require financial reports. Then the information is analyzed in terms of conditions and assessed based on the company’s ability in the future. The essence of this economic analysis win is to identify, and provide predictions in business. Then a financial analyst will provide a way out to minimize the risk to the company.
4. Business Analyst
A business analyst has a task to provide understanding in carrying out an analysis of the needs of the running business, individual, or company. The business analyst profession has expertise in listening so that the business analyst profession can provide a way out of business matters.
5. Professional accountant
Professional accountants who work in a company are certainly people who have a lot of experience. An accountant works for companies in specific industrial sectors such as the steel, health, mining, and sales industries. Professional accountants also have experience in preparing annual financial reports for their companies.
6. Professional auditors
There are two kinds of professional auditors: internal and external auditors. In internal auditors, an auditor works for a specific company. At the same time, the external auditor works for a company that does provide audit services independently.
In working as an auditor, you must pay attention to a company’s financial statements. Whether the company’s report is by financial accounting standards or not.
7. Software accountant consultant
The task of an accounting software consultant is to focus on business processes and their implementation, investigate user needs, design business process flows, conduct company analysis, and apply them to accounting software such as the Accounting System from HashMicro.
Software consultants must know the business processes of an industry or company working and adapt the accounting software used to the company’s needs as much as possible. In the end, you can implement and choose accounting software suitable for the business.
This explanation is also the basis for how the accounting profession is the choice in determining one’s career path. All types of accountants do have their respective specifications in helping the performance of individuals, companies, and institutions.
Therefore, is also important for you to be familiar with various accounting software that is ideally used by companies, and one of them is the best accounting system from HashMicro. But if you are having difficulty in preparing financial reports, there is a solution to help you manage financial reports or manage financial flows or finances by using Accounting Software from HashMicro. Try now!