What does Accountant do?
Accountant Job Profile
Accountants are the financial backbone of organizations, ensuring that the numbers not only add up correctly but also tell a meaningful story about the business’s health. In this profession, you could find yourself working on anything from preparing financial statements for a Fortune 500 company, to auditing a small business’s accounts, to helping individuals with their tax returns. At its core, the role is about accuracy, transparency, and insight. Accountants meticulously record and analyse financial transactions, make sure that laws and regulations are followed, and advise on financial decisions. Far from the stereotype of just crunching numbers in isolation, modern accountants often serve as important business advisors, translating financial data into strategic recommendations. They work in diverse settings: public accounting firms, corporate finance departments, government agencies, or as independent consultants. In all cases, an accountant’s work carries a lot of responsibility because decisions from company investments to compliance with tax laws depend on their expertise and integrity.
Key Responsibilities
Financial Record Keeping
- Record all financial transactions (expenses, revenues, investments, etc.) accurately.
- Maintain ledgers, reconcile accounts, and update journals.
- Organize and analyse records to ensure books remain balanced and current.
Preparing Financial Statements
- Compile balance sheets, income statements, and cash flow statements regularly.
- Ensure compliance with accounting standards (GAAP, IFRS).
- Adjust entries for depreciation, accruals, and verify balances for accuracy.
Ensuring Regulatory Compliance
- Prepare and file tax returns accurately and on time.
- Comply with laws such as VAT, sales tax, and industry-specific regulations.
- Adapt to new tax codes and accounting standards as they evolve.
Auditing and Internal Controls
- Conduct internal or external audits to review accuracy and efficiency.
- Identify risks, inaccuracies, or control weaknesses.
- Design safeguards such as approvals, reconciliations, and separation of duties.
Qualifications, Skills, and Qualities
We've broken down some skills and experience based on seniority so you know more about career prospects.
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Entry Level
Qualifications:
- Bachelor’s degree in Accounting, Finance, Commerce, or related field.
- 1–2 years’ experience in Accounts Payable (P2P).
Skills:
- Strong attention to detail and accuracy.
- Knowledge of Sage, QuickBooks, Excel.
- Good communication and multitasking skills.
Experience:
- Exposure to reconciliations and bookkeeping tasks.
- Basic familiarity with banking and financial reporting.
Professional Level
Qualifications:
- CPA or equivalent certification.
- 2–5 years’ accounting and bookkeeping experience.
Skills:
- Proficient with GAAP/IFRS and tax laws.
- Strong financial analysis in Sage and Excel.
Experience:
- Handles reconciliations and reporting independently.
- Delivers accurate tax and compliance filings.
Senior Level
Qualifications:
- CPA or Chartered Accountant certification complete.
- 7+ years’ experience including audit and strategy roles.
Skills:
- Expertise in compliance, tax optimisation, and regulations.
- Advanced financial forecasting and governance.
Experience:
- Leads audits, internal controls, and risk management.
- Mentors junior staff and shapes financial strategy.
The accounting profession is evolving with technology and shifting business needs, but remains essential. Employment of accountants and auditors is expected to grow 6% from 2023 to 2033, faster than the average for all jobs. Growth is driven by globalization, increased compliance, and demand for financial expertise in every sector. Companies rely on accountants not just to keep books, but to provide insights and strategic advice.
Technology & AI Impact: Routine tasks (data entry, invoice processing, reconciliations) are increasingly automated. Far from replacing accountants, AI shifts their focus toward analysis, strategy, and oversight. Accountants will spend more time interpreting data, advising management, and ensuring governance while relying on technology for repetitive work.
Accountant FAQs
You can work in many accounting roles without a CPA, e.g., staff accountant, accounts payable specialist, or bookkeeper. However, the CPA is valuable for higher-level positions (auditor, controller, CFO). Becoming a CPA requires additional education, passing exams, and supervised experience. Alternative certifications like CMA or CIA can also support specific career paths.
Bookkeepers focus on recording daily financial transactions like invoices, payments, and payroll. They maintain ledgers and prepare initial reports. Accountants go further — analysing financials, ensuring compliance, preparing tax filings, and providing advice. Bookkeeping usually requires less formal education, while accounting often requires a degree and certifications.
Yes. Accounting has cycles with busy seasons, particularly tax season (Jan–Apr in the U.S.) and year-end audits. During these times, accountants often work long hours to meet deadlines. Public accounting firms especially have “busy season” when year-end financials are filed and audits take place.
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