What is an Accountant job?
An accountant job is a good career choice for those with an analytical mindset as they enjoy working with financial data. Accountant jobs often assist the company’s Chief Financial Officer (CFO) or the finance department. They also work directly with individuals to check the financial records on their tax returns. Trained accountants have the opportunity to work in small and medium-sized businesses and large corporations.
Auditors are also in demand in the public sector and non-profits. After all, accountants can work independently or as a consultant in their company.
Accountants are responsible for budgeting, creating accounts, and managing financial information. They can also provide advice and support to clients, either individuals or international companies, in a financial situation.
Accountant jobs’ primary role is to create and review financial records to ensure that the information is up-to-date and accurate. However, one can focus on specific areas such as forensic book-keeping or taxation or focus on more specific areas of a company’s finance department.
What does an Accountant do?
- Accountants safeguard all financial records and reports that comply with regulations, laws, and Generally Accepted Accounting Principles (GAAP).
- Accountants principally rectify inconsistencies or carelessness found in statements, records, or documented dealings.
- Accountants must frequently share their ideas and reports with laymen. Strong communiqué and interactive skills can help accountants have a successful career.
Also Read: Accounting Manager Job Description
Daily Duties of Accountant :
Accountants often perform other financial tasks in addition to analysing financial records and reports. Other business responsibilities include controlling, accounting, or monitoring the effectiveness of the software. Accountants help guarantee that actions and programs comply with central and state regulations.
Accountants are also responsible for advising various departments or employees of the C-suite regarding company resources and procedures. These guidelines are intended to solve a potentially costly financial or business problem.
In some cases, accountants are responsible for formulating and revising bills for customers and suppliers to help in timely payments. Adjusting wages, verifying contracts and orders, and collecting debts maybe some of the responsibilities of someone in an accountant job. At a higher level, accountants are involved in the development of a company’s budgeting and financial models.
Additional to these duties, accountants prepare and file taxes for companies and individuals. They analyse the company’s assets, income, estimated expenses, and liabilities to calculate the total tax amount for the year.
Accountants are required to provide detailed analysis when preparing and filing tax returns for both companies and individuals. After completing the analysis, they provide references on how to reduce the total tax amount in the future.
General Accountant Job Description
An accountant’s job is to work in an office environment between 9 am to 5 pm. This depends on the job’s nature and whom one works for. However, accountants tend to work long hours at the peak of the financial year, which is the end of taxation and of the fiscal year.
When working in a large company, an accountant often works closely with finance, management, and operations teams. If one works for an accounting firm or do their own business, they may need to travel domestically and internationally to visit clients.
If one decides to freelance or have the flexibility to accommodate the employer, the accountant job comes with the flexibility to work from home.
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Responsibilities of Accountant job:
The general duties and responsibilities of an accountant job are:
- Prepare reports and tax returns.
- Spending and budget monitoring.
- Audit and analysis of financial results.
- Financial forecasting and risk analysis.
- Consulting to reduce costs and increase profits.
- Compilation and presentation of financial and budget reports.
- To ensure that financial statements and records comply with laws and regulations.
- To keep books and systems up to date.
Requirements for Accountant job:
To become a Certified Public Accountant (CPA), accountants must meet certain training requirements and pass certification exams. To maintain CPA status, one must also meet continuing education credit requirements that vary from state to state.
The CPA exam is divided into four sections; Auditing and Attestation (AUD), Regulation (REG), Financial Accounting and Reporting (FAR), and Business Environment and Concepts (BEC).
Average Salary for Accountant job:
The average salary for an accountant in the Gulf region is approximately AED 80,000 to AED 150,000 per annum, depending on factors such as location, experience, and the company.
City-wise Comparison
|
City |
Average Annual Salary |
|
Dubai |
AED 120,000 |
|
Abu Dhabi |
AED 110,000 |
|
Doha |
QAR 100,000 |
|
Kuwait City |
KWD 25,000 |
|
Manama |
BHD 22,000 |
Industry-wise Comparison
|
Industry |
Average Annual Salary |
|
IT Services |
AED 130,000 |
|
Finance |
AED 120,000 |
|
Healthcare |
AED 100,000 |
|
Construction |
AED 90,000 |
|
E-commerce |
AED 85,000 |
Experience-wise Comparison
|
Experience Level |
Average Annual Salary |
|
Entry-level (0-2 years) |
AED 70,000 |
|
Mid-level (3-5 years) |
AED 100,000 |
|
Senior-level (5+ years) |
AED 150,000 |
Top Companies Comparison
|
Company Name |
Average Annual Salary |
|
Emirates NBD |
AED 130,000 |
|
Qatar National Bank (QNB) |
QAR 120,000 |
|
National Bank of Abu Dhabi |
AED 115,000 |
|
Kuwait Finance House |
KWD 28,000 |
|
Deloitte Middle East |
AED 140,000 |
The data indicates that salaries for accountants in the Gulf region are competitive and can vary based on the city and industry. Major metropolitan areas like Dubai and Abu Dhabi tend to offer higher salaries compared to other regions. Additionally, sectors such as IT services and finance typically provide more competitive compensation.
Accountant Job Key Skills:
In addition to qualifications and training, an accountant’s job description may include some or all of the following skills:
- Improving Numerical and Quantitative Skills: These are important when dealing with all aspects of finance, including budgets and forecasts.
- Advanced Analytical and Problem-Solving Skills: Analyzing the financial performance and processing important documents requires strong analytical skills and a good level of detail. They also handle complex datasets.
- Working with Hours Management and Organization: Accounting means that deadlines are tight, and one needs a system to track responsibilities and priorities.
- Communication: Communication is often required not only with different teams but also with customers. One needs to be able to convey complex information in a clear and easy-to-understand way.
Why pursue a career as an Accountant?
After studying and further training for an accountant job, one usually works for a company. When they become an auditor, their professional career is usually structured, and one gradually takes on more responsibilities.
Within two years, one might get transferred to a managerial position and soon become a senior manager. With more experience, they can be promoted to a position as CFO or even in Partnership with an accountant job.
There are also some areas of expertise that can be completed with the right skills and qualifications. One can track different areas of accounting, such as:
- Commercial or Corporate Finance
- Fiscal Accounting
- Legal Accounting
- Administration Accounting
- Excise Accounting
- Internal Audit
- International Accounting
Also Read: Accounting Assistant Job Description
How to Become an Accountant?
The field of accounting is vast, but most employers require a bachelor’s degree in accounting or specialisation in accounting courses. Some accountant jobs require only an associate’s degree.
Accountants in management positions often have advanced degrees. In addition to a college degree, accountants receive advanced accounting certifications to establish themselves as professionals in their field.
Materials considered for becoming an accountant include professional liability, commercial law, auditing, tax reporting, and management accounting.
Some of the other topics covered include government accounting, financial accounting, non-profit organisations, and corporate reporting. The exam is the same in all jurisdictions, but certification in other states may require additional training requirements or work experience.
Accountants seeking career advancement in an accountant job may also complete other voluntary certifications.
These certifications include Chartered Management Accountants (CMA), Chartered Internal Auditors (CIA), and Chartered Accountants (CB). Each assignment has different requirements, including past education and work experience. There are also continuing education requirements for these certifications that must be met every few years.
FAQ on Accountant Job Role
Q:1 What is the primary role of an accountant?
A: Accountants are responsible for managing financial records, preparing statements, and ensuring compliance with financial regulations.
Q:2 What skills are essential for an accountant job?
A: Key skills include proficiency in accounting software, attention to detail, analytical abilities, and a strong understanding of financial principles.
Q:3 How does an accountant contribute to financial decision-making?
A: Accountants provide valuable insights by analyzing financial data, identifying trends, and offering recommendations that aid in strategic decision-making.
Q:4 Is a specific degree required for an accountant role?
A: Typically, a degree in accounting, finance, or a related field is preferred. Professional certifications like CPA or ACCA can enhance job prospects.
Q:5 What industries commonly employ accountants?
A: Accountants are vital in various industries, including finance, healthcare, government, and corporate sectors, where financial management is crucial.
