Introduction Financial accounting

Introduction

Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes. My name is Nabijon, a student of WIUT.

Accounting is an information system that measures business activities, process information and communicates financial information.

Key skills for accountants

Accountants go through a rigorous recruitment and qualification process, and this is reflected in their high professional status. Employers look for graduates with the following skills:

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  self-motivation
  
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  integrity
  
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  ability to reflect on one's own work as well as the wider consequences of financial decisions
  
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  business acumen and interest
  
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  organisational skills and ability to manage deadlines
  
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  teamworking ability
  
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  communication and interpersonal skills
  
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  proficiency in IT
  
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  analytical ability
  
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  a methodical approach and problem-solving skills
  
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  high level of numeracy
  

Next: search graduate jobs and internships

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  View our graduate accountancy and financial management vacancies and internships
  

Related job descriptions

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  Tax inspector: job description
  
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  Corporate treasurer: job description
  
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  Management accountant: job description
  
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  Auditor: job description
  
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  Accounting technician: job description
  
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  Financial manager: job description
  

Accountant Salary

Salaries for accountants can vary widely depending on the employer. Some large firms may pay higher salaries, and independent accountants with a longstanding list of clients also can earn more.

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  Median Annual Salary: $69,350 ($33.34/hour)
  
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  Top 10% Annual Salary: $122,220 ($58.75/hour)
  
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  Bottom 10% Annual Salary: $43,020 ($20.68/hour)
  

Source: U.S. Bureau of Labor Statistics, 2017

From: https://www.thebalancecareers.com/accountant-job-description-4178425

Education, Training, & Certification

The minimum education required to become an accountant is a bachelor’s degree. Many accountants will pursue higher degrees and certifications in order to make themselves more marketable.

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  Education: A bachelor's degree in accounting or a related field of study is necessary to get started in a career as an accountant. Some employers prefer job candidates who have a master’s degree in accounting or taxation or an MBA with a concentration in accounting.
  
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  Certification: To be able to file documents with the U.S. Securities and Exchange Commission, accountants need to become a certified public accountant (CPA). Individual states grant licensure according to their own rules and regulations. After earning a college degree, accountants have to pass the Uniform CPA Examination.
  

Comparing Similar Jobs

Career paths similar to that of an accountant, along with median annual salaries, include:

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  Budget analyst: $75,240
  
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  Cost estimator: $63,110
  
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  Financial analyst: $84,300
  

Source: U.S. Bureau of Labor Statistics, 2017