Accountant Jobs in India: Career Scope, Eligibility and Types
If you think that accountant jobs are related to only computing numbers, you are highly mistaken. The job of an accountant is much more than what a common man thinks. The accounting duties are wide and varied in everyday management of business and finance.
What exactly is an accounting?
Yes, it is a subject in Commerce, related to Maths. We can say that it is a method of recording, managing and storing financial activities. Accountant jobs involve all financial transactions and activities of an organization, business or individual to be systematically recorded, summarized, analyzed and reported. It is the job of an accountant to carry out the important tasks associated with it like as book-keeping, auditing, maintaining and reporting of financial data so as to derive at a financial status of the company/business or the individual.
Accounting as a subject in colleges and business schools includes various topics like as
- Rules of accounting
- Types of accounts
- Bookkeeping systems
- Creation of different statements like as trial balance and balance sheet, profits and loss accounts, outstanding debts and credits, calculation of capital gains, calculation of a real financial value of different assets, and so on
So, when you are in accountant jobs, you need to master each of the above, before opting for any specialization like Financial, Taxation, Corporate, etc.
Eligibility criteria to be in accountant jobs
A candidate with a graduate degree (BCom) or Masters degree (MCom) in Commerce is suitable for accountant jobs. The candidates should be experts in different aspects or concepts of accounting like financial accounting, management accounting, cost accounting, tax accounting, etc.
Most candidates also take up certified professional courses alongside a graduate course. These include courses on Chartered Accountancy, Company Secretary, ICWAI, Chartered Financial Analysis, etc. Some also prefer to do an MBA in Finance and Accounts. All these provide lucrative accountant jobs in different industry domains.
Roles and responsibilities in accountant jobs
- Keeping a track on the day-to-day financial activities in a business
- Interpreting real, financial values and data
- Calculating the financial worth and sharing reports
- Preparation of financial statements
- Interpret and analyze financial Information
- Legal and regulatory compliance of maintaining financial data
- Budgeting and reporting
- Tax planning and returns filing etc.
Popular accountant jobs
In India, there are many entry level and senior level jobs in accounting. With the ample growth of start-ups and businesses, there is a need for skilled professionals to manage the financial aspects. All major companies require skilled and experienced finance professionals. Below are some of the top-notch careers in accountant jobs:
- Corporate Accountant
- Management Accountant
- Financial Accountant
- Chartered Accountant
Career scope in accountant jobs
It is generally believed that candidates with professional finance qualifications like as CA, CFA, CS, ICWAI have a better scope of growth in accountant jobs. While this is true, there is also great career opportunities for candidates with graduate or post-graduate degree. With the start-up wave in the country, with a lot a SMEs in the country, there are ample accountant jobs available for such candidates too. Not to forget the individuals who require accountants to maintain their tax records and help in the filing of taxes. The tax and regulatory policies require mandatory payment of direct and indirect taxes by individuals and organizations, have definitely provided great avenues of employment in accounting. The amendment in taxation laws and the influx of foreign direct investments in the country have opened opportunities for accountants to explore different types of accountant jobs in India. The need for accountants to help in the financial management of businesses, emerging start-ups and individuals cannot be ignored. Hence, there is a great scope of growth in accounting jobs in India.