Tue. Sep 22nd, 2020

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A Day In The Life of An Accountant 2020

3 min read

There is a general assumption about accountants that their jobs pertain to the typical caffeinated 8-hour shift, at the office, behind the desk, minding numbers and nothing else. The thing is, accountants are like insurance, you don’t think of them until you need them. And that’s how they earn up to $133,000 annually.

Now, who wouldn’t be interested to know how they’re actual day goes to earn that much? Well, there are many kinds of accountants, and with specific expertise in certain industries, it’s undeniable that they deserve a high pay rate. Because they need to be flexible and adaptive to whatever the day would bring forth, it’s safe to say that accountancy is a career for vibrant and witty candidates. So whether you’re a fresh graduate needing help looking for accounting internships, or just curious about making  a potential career switch, here’s what you need to know about being an accountant in 2020.

A Kickstarter day

An accountant’s job specifics include analysis, compilation, computation, excel drafts, lots of lists, lots of tallies, and lots of interpretations. They are well-versed in preparing financial statements may it be for small and big companies. So typically, their mornings would be checking emails to make sure there are no urgent send-offs to be dealt with before starting another draft of analysis.

Once there’s nothing in the way, they’d move on to creating the first draft to report to a client. This will include background checks, balancing of sheets, comparing revenue with costs incurred and many more. At the same time, there are varied kinds of accountants, such as auditors or internal accountants, financial advisors, consultants, and forensic accountants. There are the common ones such as those who deal with taxes and management accounts.

Whatever kind though, accountants have a special set of skills that is not just pure IQ but also EQ. While many people think they are introverts and nerds, that’s more likely the opposite. Most of their days are a full-on collaboration with a team in which other consultants, accountants, and even lawyers are in.

There are also back and forth communication with clients, which is not a walk in the park. They deal with a lot of omissions and hidden agendas, so it’s a continuous adjustment and never-ending gauging of the parents’ intention. There are different personalities to deal with, and this always depends on the intention they have in having the accountants prepare the financial reports. It plays around not wanting to pay tax at all, not getting sued, or just plainly having the books ready for review concerning business ventures.

The Real Deal

Accountants, as they do business right and left, always practices flexibility and adaptability when need be. As many lawsuits arise from money matters, accountants become an essential part of any corporation. They help in making sure everything is legal.

Chris Osborne, a forensic accountant at FRP, mentioned that no day could be called ordinary as a  forensic accountant. He explained how diverse his day could get just by how diverse the accounts are that he has to handle per day. With the background of law, Chris compares his work to likes of an investigator’s. This seems to touch the technical side of an accountant’s usual day, but another female accountant mentioned about the necessary emotional intelligence when handling delicate information concerning finances. That trust that is given for professional service instantly makes the job not just about the money anymore. It’s seeing how an accountant’s expertise and professionalism could be of help.

Dealing with the extra

When all is tallied, interpreted, presented, and sealed, accountants, segue to other possible tasks such as forecasting and budgeting, audit, preparing income tax investments with tax planning, and signing financial recommendations. The best companies offering internships often hire candidates through their performance of dealing with the extras. Afterall, good companies want employees who are diverse in their skillset, and can expand upon themselves in different areas of expertise.

Overall agenda

In whatever tasks there may be for an accountant, generic forms of supply and demand, budgeting, and proper allocation of financial resources are their game. To those who may be married to numbers and has the heart for helping people understand how numbers actually work, this may just be the job for you.

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