A well-settled career in accounting is the desire of millions of commerce students in India. Every student is willing to dedicate as many hours as possible to crack all the difficult exams of accounting courses. The fact that accounting jobs enable one to work with big organisations, MNCs (Multinational Companies) and government agencies excites most of the young enthusiasts.
Individuals get the desired industry exposure and a potential platform to showcase their accounting skills and knowledge with the right kind of jobs.
In India, almost every city caters to the job needs of accountants, whether it be through small businesses or large companies. New Delhi is also not behind in giving wings to the aspirations and dreams of accounting students.
The accounting jobs in New Delhi are good enough to meet the demands of all the job seekers. The city is also the host to many government agencies and organisations that also lay down job opportunities for accountants. The fact is, you would not have to wait around with a degree for your turn to get employment opportunities, just focus on becoming the desired professional in the field.
Daily Common Tasks In Accounting Jobs
Accounting jobs differ largely from one another as per the job title. The role of an accountant experience also matters to a great extent while deciding the duties and responsibilities of the person. For instance, if you work as an accounts manager, your job description will include looking after the activities of financial accounts of the company. The same description changes if you become a chartered accountant.
However, there are a few tasks that are common to all accountants, and you might need to perform any of these tasks if the need be.
Reviewing Financial Statements
It would not be wrong to say that reviewing financial statements of the client is one of the basic daily tasks of an accountant. You can either choose to work under a defined branch of an organisation or as a freelancer serving several individuals, you will need to have a brief at the financial records to understand the condition of the client. Your job is to ensure that the data is up to date, there are no mistakes, and no chances of any do-overs.
You must also see that the statements comply with the existing rules, regulations and laws of the country.
Improve Cost-Efficiency of The Firm
Although the job role of cost accountants and cost analysts is to improve the cost-efficiency of a firm, every accountant must possess some basic skills to perform this task. Accounting is a vast subject, but the essence of it revolves around the idea of decreasing costs and increasing the income of a company. Your accounting skills and knowledge will depend greatly upon how well you contribute to improving the financial stature of the company you work in.
In the corporate language, efficiency means the capability of management to operate at its maximum capacity, at the lowest price.
Record Income And Expenses
You might not need to record the income and expenses of the company while you work at a high designation, it is a bare minimum task that you must know about. Even if you do not do it yourself most of the time, it is essential to know how to send invoices to the concerned clients and document all the balance sheets and ledgers correctly. In some cases, you may book an assistant accountant to help you with these tasks if you work as a freelancer. Build your team to assign separate tasks to every member.
Evaluate Statistical Data
Looking at numerous sheets of numeric data and understanding it to make a logical explanation out of it is not an easy task. It requires patience and perseverance, as a slight mistake in interpretation of the data can cause a big confusion. It is a tricky task, but you can do it deliberately if you practise well.
More often than not, accountants need to evaluate the annual financial statistics of the firm to understand how it has been performing in the market. Making valuable suggestions that can help in improvements is what the client will expect from you.
Apart from these four tasks, an accountant’s responsibilities include a wide variety of tasks that are useful for the company’s financial growth and development.
Some Exclusive Jobs For Accountants In India
Accountants in India work at all levels to manage and report on the cost-efficiency, financial engagements and tax obligations of business firms. Depending upon your work-efficiency and area of interests, you can choose and save a job view for yourself.
Several India private limited companies hire accountants with specialised skill and knowledge offering high salaries. Chartered and cost accountants are the most sought yet common job roles. If you desire to try something out of the box and interesting, choose a job title that is exclusive in the Indian market.
An Internal Auditor
The job of an internal auditor is very specific to managing the company’s control over its financial transactions. You will need to work with the government mandates to look after the tax payments of the firm. For acquiring this job role, you will need to have a minimum of two years experience in the industry with a degree of a chartered accountant.
A Compliance Executive
You can work as a compliance executive after acquiring a Certified Public Accountant (CPA) degree and 3-5 years of work experience. You will work to help the shareholders of the company from committing any accounting mistakes while investing. Since this job role deals with confidential information of the client, you will need to portray high ethical standards in the field.
An External Auditor
After gaining experience of 5-7 years as a professional accountant in the industry, you may work as an external auditor for a company. Under this position, you will not be entirely subject to the internal affairs of the firm. Your job will be to take care of the financial health of your company while evaluating the statements and ledgers from time to time. If your knowledge about financial management is at par excellence, this job role will be ideal for you.
The job of a financial analyst is one of the highest-paid accounting professions in the world. You will need to acquire knowledge of market trends and competition to guide your firm in making profitable financial decisions.
Staff accountants look after the very basic accounting activities of a company like a day-to-day ledger and journal entries, recording regular transactions, and other accounting tasks. For those who cannot acquire any professional degree, starting as a staff accountant can help build a strong career graph.
Scope of Online Accounting Teacher
For most people, teaching is more of a passion than a mere profession. In India, you will find many professionals who are well-established in the corporate world and yet choose to give private tuitions to students. If you too share the same passion, you can set your tutoring business on the online platform.
The E-learning industry is beaming with opportunities for talented minds as a huge number of people are joining in. You can earn name, fame and respect by teaching accounting aspirants across the country. Reap the benefits of becoming an online accounting teacher with Superprof.
Yes, you can conveniently set up your online tutoring business with the help of the world’s leading online teaching network. Superprof works as a two-way bridge that connects the students with their desired teachers and vice-versa. Go to the website and create your teaching profile in a few simple steps. Use attractive punch lines to describe your skills. Add your location and other qualification details and your part of the job is done!
Every student who will search for an accounting teacher in New Delhi will be able to see your profile on his page. With the help of Superprof, you can become a successful online accounting tutor in no time!
Highest Salary Of An Accountant India
The amount on your paycheck will depend upon the professional degree you have acquired. Chartered Accountants, CFOs (Chief Executive Officers), cost accountants, finance directors, etc. are a few of the posts that appear in the list of the highest salary of an accountant India.
While there is no shortcut to earning a good fortune, you can work on your soft skills to acquire a job that offers marginally high. The highest salary of an accountant in India has gone up to 70 lakhs per annum while the lowest starts with a package of 3-3.5 lakhs.
Every job in the accounting field offers decent salaries, vast opportunities for professional growth and the scope for long-term stability. You will learn all the nitty-gritty of accounting jobs along the way of doing your course from the registered institute. You just have to stay focused and do not leave your passion behind to make a mark in the industry.