In today’s world, Accounting is one of the hottest industries in the world. There are numerous opportunities for a career in accounting. International students who are planning to study in the USA can consider accounting as a career.
Accounting professionals work in several different public accounting firms. Accounting professionals can work as auditors, financial experts, and consultants. In addition to this, people often hire accountants to file yearly taxes.
Who is an accountant?
An accountant is a person who inspects financial records or business transactions on behalf of an organization and issues financial statements. That is why they are also known as account analysis.
A certified accountant must follow the ethical guidelines or principles of the region in which they practice, like International Financial Reporting Standards (IFRS). In the USA, certification of accountants may vary from state to state.
The average salary of an accountant was $70,500 in 2018. The lowest-paid accountant made $55,070.
Roles of Accountants
The partner has “bought-in” to the partnership and has an equity stake in the company. They are limited in number and do not engage in day-to-day decision making. There should be at least two persons or more than two to form a partnership that serves for a common goal.
- Chief Financial Officer:
The primary responsibility is to take charge of monitoring cash flow and financial planning for an organization. To become a chief financial officer is the dream of many people. They assure accuracy, timeliness, compliance of financial reporting, etc.
- Accounting Manager:
The manager is accountable for the day-to-day accounting of a company and responsible for financial reports or statements. Besides, they have to work with the financial management team.
- International Tax Manager:
International Tax managers are responsible for creating and implementing taxation strategies. Some work as consultants while others work for a single company. They analyze and determine alterations in exchange rates, etc.
- Chairman of the SEC:
An accountant can also become chairman of the U.S. Securities and Exchange Commission. The chairman of SEC manages the agency that ensures that U.S. capital markets are conducted in a fair and orderly manner. The President of the United States appoints them.
- Cost Accounting Manager:
The cost accounting manager needs to have a college degree and sometimes a license. As a part of the specialized field of accounting, they manage cost control procedures and systems, etc.