Education and Career Forum

what is the job of a chatter acountant?...please tell me the details

Originally Posted by Unregistered

what is the job of a chatter acountant?...please tell me the details

Chartered accountants provide trustworthy information about financial records. This might involve them in financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes. Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer. They work in many different settings including public practice firms, industry and commerce, as well as in the not-for-profit and public sectors.

In public practice firms, chartered accountants provide professional services to fee-paying clients who might be private individuals or large commercial or public sector organisations. In commerce, industry and the not-for-profit and public sectors, they may work in treasury management, procurement, financial management or in reporting roles.

Typical duties include:
-preparing accounts and tax returns;
-administering payrolls and controlling income and expenditure;
-auditing financial information;
-compiling and presenting reports, budgets, business plans, commentaries and financial statements;
-analysing accounts and business plans;
-providing tax planning services with reference to current legislation;
-financial forecasting and risk analysis;
-dealing with insolvency cases;
-negotiating the terms of business deals and moves with clients and associated organisations;
-meeting and interviewing clients;
-managing colleagues, workloads and deadlines.
Work tends to be office based, although audit projects may keep graduate accountants away from home for one night or several weeks. Working hours may often extend beyond the regular nine to five at peak times such as at the end of the financial year, and are common in the commerce and financial sector.

skills required:
-Self-motivation;
-Responsibility;
-Ability to reflect - on one's own work as well as the wider consequences of financial decisions;
-Business acumen and interest;
-Organisational skills and ability to manage deadlines;
-Teamworking and interpersonal skills;
-Proficiency in IT;
-Analytical ability;
-A methodical approach and problem solving skills;
-Mathematical ability and knowledge.

Typical work activities:

The role of a chartered accountant can cover many aspects of finance work, including:

-continuous management of financial systems and budgets;
-undertaking financial audits (an independent check of an organisation's financial position);
-providing financial advice.

In public practice, typical work activities include:

-liaising with clients (individuals or businesses) and providing financial information and advice;
-reviewing the company's systems and analysing risk;
-performing tests to check financial information and systems;
-advising clients on tax planning (within current legislation to enable them to minimise their tax liability) and tax issues associated with activities such as business acquisitions and mergers;
-maintaining accounting records and preparing accounts and management information for small businesses (accountancy);
-advising clients on business transactions, such as mergers and acquisitions (corporate finance);
-advising clients on areas of business improvement, or dealing with insolvency;
-detecting and preventing fraud (forensic accounting);
-managing junior colleagues.

In commerce and industry, and the public and not-for-profit sectors, typical work activities involve:

-liaising with internal and external auditors and dealing with any financial irregularities as they arise;
-producing reports and recommendations following internal audits or public-sector audits;
-preparing financial statements, including monthly and annual accounts;
-preparing financial management reports, including financial planning and forecasting;
-advising on tax and treasury issues;
-negotiating terms with suppliers.

The qualification of CA is globally recognized hence industry outlook for CAs is bright indeed. Much recognition for CA degree is due to the fact that the CA course has been able to keep pace with changes in industry scenario. Several new modules and topics have not only been incorporated into the CA course but have been very effectively implemented to give increasing more power to the CA degree. In spite of the fact that several top-notch B-schools (including IIMs) have produced some of the most brilliant B-school grads, it is noteworthy that CAs has been able to retain their prominence in present world order.