Accountancy

An accountant is a very important professional because this financial expert plays a vital role in many private and public enterprises. From the perspective of employment and career prospects, it makes a lot of sense if you train to become an accountant or chartered accountant. This is because accountants do not have much difficulty getting jobs. Before discussing the job description of the average accountant, it is important to look at the steps one can take to qualify as an accountant.

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Studying Accountancy at University Level

If you want to study accounting or accountancy, you need to graduate from high school with an excellent Ordinary Level result. The next step is to apply to the accounting department of a reputable university and pass the relevant entry examinations. Once you do this, the university will admit you to study accounting. This is usually a four-year course if you do not have an Advanced Level qualification. If you have Advanced Levels in the relevant subjects, you will spend just three years in the university and you qualify as an account. You get a Bachelor of Science degree in accounting after you complete the accounting course but this does not make you a chartered accountant.

Becoming a Chartered Accountant

There is a slight difference between an accountant and a chartered accountant. If you want to qualify as a chartered accountant, you should take the relevant courses and examinations. Another way to get your chartered status is to work in a firm of chartered accounts for some years and learn the ropes under a senior accountant.

What Accountants Do

Some people have the impression that accountants are glorified bookkeepers but this is an unfair assessment. Accountant carry out a number of important functions and these include the following.

Keeping Financial Records

Accountants keep financial records in both private and public firms. They help the top management executives create and implement the company's financial policy. They also try to balance the company's debit and credit profile and ensure the firm is solvent and viable. In the public service, the Finance Ministry, The Central Bank and the Securities and Exchange Commission employ many accountants.

Accountants in the Private Sector

In the private sector, accountants work in banks, insurance companies and stock broking firms. Accountants also serve as investment advisors and financial analysts. Qualified and experienced accountants usually occupy top management positions like Financial Controller and Chief Accountant.

Why You Need an Accountant

If you run a business, you need an accountant to help your business grow. This is because the accountant will help you keep track of how much money comes in and goes out of your business. Accountants also teach cash flow management and other important skills. If you are thinking of diversification or expanding your business, your accountant will help you expand carefully. This way, you will not be overextended and your business will not suffer a liquidity crisis.

Final Word

Accountants are very important professionals. They play vital roles in the private sector and the public sector. Find the right one and this expert will help your business thrive.