Connect with us

Education

What are the different types of accountants?

Published

on

accountant

All accountants are not the same. If you are looking to build a career for yourself in the finance sector, then you must understand the different accounting roles and get an insight into what work each type of accountant performs in a day.

Some of the possible career routes that you can pursue under accountancy are as follows:

  1. Cost accountant 

Businesses always aim to achieve cost efficiency to maximise the profit. Cost accountants are responsible for analysing every cost related to production, material, labour, shipping and administration. 

They assist the business in the preparation of a budget based on profitability analysis.

  1. Management accountant 

Management accountants are responsible for analysing the financial standing of a business and providing the information related to the business financial health to the business owner. 

Based on this information, the board of directors and line managers can make sound and critical strategic decisions regarding the business’s future. 

Some of the functions that management accountants perform are:- 

  • Planning and budgeting 
  • Variance analysis
  • Profitability analysis 
  • Risk management 
  • Organisation and presentation of management information
  1. Chartered accountant 

A chartered accountant is the premium finance qualification. Attaining such a qualification usually requires a combination of work experience and passing examinations. 

Chartered accountants are based in every city, and you find an accountant near me by searching on google or using specialist services providers, like Experlu. 

Some of the responsibilities that chartered accountants have to fulfil are:- 

  • Providing financial advice 
  • Advising on tax planning, treasury issues and business transactions (mergers and acquisitions) 
  • Preparing the financial statements 
  • Undertaking financial audit 
  • Dealing with any financial irregularities that may arise
  • Overall responsibility of finance function
  • The Head of finance usually reports directly to the CEO
  1. Tax accountant 

Tax accountants assist businesses to meet all the tax obligations by preparing and submitting tax computations and returns by the deadline and ensuring whether they are compliant with the laws and regulations or not. 

Tax accountants focus on liaising and negotiating with HMRC on behalf of their clients. 

Apart from this, they guide on minimising tax liability, indirect taxation (environmental taxes, custom planning and VAT), tax residence, and more.

  1. Auditor

Large businesses are required to conduct at least one external audit every year to verify the preciseness and accuracy of their financial records. 

This is where an auditor comes into the picture. An auditor is a specialist accountant responsible for scrutinising the accounting records and system and examining the business’s financial statements without any biases.

They provide counsel to the business to prevent future issues and ensure that they comply with all the financial laws and regulations.

After the audit, auditors provide an audit report to the shareholders. 

  1. Forensic accountant 

Forensic accountants act as detectives in the accountancy sector. Their job is to analyse a company’s financial records to ensure that all the financial discrepancies, errors, and inaccuracies are taken care of. 

Forensic accountants may either be self-employed, work for the government, work in the legal industry, or in a particular type of accounting firm to verify that their statements comply with the standards and laws.

  1. Staff accountant 

Staff accountants perform a variety of functions like: 

  • Preparing and analysing the financial reports of the business 
  • Maintaining general and subsidiary accounts 
  • Maintaining payroll records 
  • Performing reconciliation of bank accounts 
  • Supervising clerical employees 
  • Creating a budget for the business 

They usually report to the senior accountant; they are responsible for creating financial forecasts and verifying whether the organisation is compliant with financial laws and regulations or not.

  1. Investment accountant 

Investment accountants usually work with asset management or investment brokerage firms to maintain their clients’ investments while heeding the state regulations. 

They also help the firm in developing and improving its financial strategy. Along with the basics of accounting, investment accountants need to have an understanding of the investment opportunities that the business offers.

  1. Project accountant 

Project accountants work on a project-by-project basis to supervise all the aspects of a project. 

This includes preparation and collection of invoices, approval of expenses, planning and maintenance of budgets, verification of employees’ billable hours and ensuring timely completion of the project before the deadline. 

A project accountant needs to have strong interpersonal, teamwork and communication skills to have an excellent working relationship with project managers and other colleagues.

Project accountants are usually specialist in a specific International Financial Reporting Standard (IFRS). 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Education

HOW HELPFUL ARE ESSAY WRITING SERVICES?

Published

on

write a great essay

Writing an essay is a daunting task. It is pretty challenging to do research work, complete assignments, and work hard on presentations. Students become overwhelmed with the amount of pressure academic tasks bring. Because of this, some students hire essay writing services to do the job for them. Get professional services to lift the pressure from you and make you stress-free. That is why students feel relaxed, as some professional writer ensures the assignment is completed well before the deadline.

Professional Services

Students may feel overburdened due to the number of assignments they are given. All this seriously affects the physical and mental capabilities, and it lowers the overall performance of the students. When you hire an authentic and reliable essay writing service, you take the burden off your shoulders. You place it on someone who is more knowledgeable and an expert in the field. Instead of attempting to do the assignment independently, you ask another experienced writer to write it for you. Professional and expert writers know how to work under pressure and deliver top-quality work within the deadline. Some students search for who can help me write my essay, and they get numerous research writing services. Students can utilize the time to work on other assignments and prepare for the exams. It can help them excel in their studies and work progressively.

Plagiarism-Free Work

One of the gravest mistakes students commit is submitting plagiarized and copied content. In this day and age of the internet, plenty of information is available. To screen information that will help you complete your assignment is essential. You can’t include every bit of information available in your essay. You have to paraphrase content and utilize quotes that will complement your article. In paraphrasing content, some phrases seem copied and lead you to the original article. One poorly paraphrased sentence can spoil the entire essay and make it plagiarized. To ensure your essay is original and unique, it must go through anti-plagiarism software and checks.

Students who succumb to pressure resort to plagiarism inadvertently. It can lead to termination or low grades. To avoid plagiarism, it is best to hire professional services. You will get a ready-made finished product that is error-free and offers unique content. Submit a customized assignment based on your needs and the instructions given by your professor.

Multiple Revisions

You can also hire best essay writing service canada that allows multiple revisions. If the client is not satisfied, they can ask for a revision. Good writing services allow multiple free revisions until the student is delighted with the work. You can talk to the writer and share your reservations with him. If there is any error or the writer has not been able to do justice to the piece, the writer is requested to write the essay again. It allows the complete client authority over the assignment. If at any point, the client seems unsatisfied with the essay, they can immediately ask for a revision.

Most students feel satisfied and contented after their work has been revised. If the client wants to get the work revisited, they can easily do so by contacting the writer through the customer support representative.

Affordable Rates

You don’t have to spend a fortune to get the services of your choice. Some companies provide outclass, top-notch facilities at the most convenient packages. All you have to do is choose the package that suits you the most. Students have limited pocket money. They can hire a cheap essay writing service canada that offers services at pocket-friendly rates. Most writing companies never compromise on the quality of work. They ensure that they have the best team working on your order. Students opt for affordable services so that they don’t have any trouble hiring them. The most significant benefit of essay writing companies is that they will provide you with a finished product that is error-free, well-researched, and free of all grammatical errors.

Saves Time and Effort

Buying papers online or getting the services done requires hard work and effort. People spend hours of hard work to deliver the best essay. Any academic research assignment requires a lot of hard work. Students can easily save time and effort by hiring essay writing services. 

When you hire an essay writing service canada, you don’t have to worry about spending hours in the library, working on your assignment, editing pages, and going through web pages to get your assignment ready on time. With a writing company that delivers quality content, you can safely utilize that time on other things. You can catch up with your friends, spend a day relaxing or working hard for your exams.

You can spend the time just the way you like. It also boosts your level of productivity.

These reasons make an essay writing service so popular among the student community. Hire service and deliver good quality essays, well-researched articles, and top-notch assignments within the given deadline. If there is any ambiguity in your submitted piece, you can ask for multiple revisions free of cost. Get writing services and ensure the best quality content.

Continue Reading

Education

Student Saving Tips

Published

on

Student Saving Tips

Being a student at college can be the most rewarding time of your entire life. There are new people to meet, fascinating classes to attend, and lots and lots (and lots and lots) of partying to be done at bars, clubs, and the chaotic apartments of your new friends and acquaintances. Living as a student in a city is also pretty amazing: getting involved with political activities is basically inevitable, as is becoming deeply embedded in the arts scene, even if that means going to your fair share of terrible shows and gigs.

That said, there’s one thing about being a student that is universally challenging: money. Being able to do all the things you want means spending money, and when you don’t have money to spare, that can be a huge issue. Here are a few quick and easy tips for saving money as a student.

Be Smart About What You Buy

Though it may be tempting to purchase what you want, when you want, and have the best of everything, that simply won’t fly on a tight student budget. However, that doesn’t mean you have to deny yourself what you need to live. 

The key is to be smart about what you need to buy when you need to buy it. Of course, you’ll need a computer for your classes, but there are plenty of cheap laptops to choose from that will offer you all the functionality at a fraction of the cost. When it comes to clothes, try shopping at thrift shops instead of at the mall – you’ll often find amazing brand items, and you won’t look the same as everyone else at the bar, which is a huge bonus!

Seek Out Student Pricing

Everyone remembers what it was like to be a poor student. That’s why lots of businesses and brands offer student discounts or host special student nights where the prices are lower to help those going through college for the first time have a life without breaking the bank. 

Most cities and university areas have a comprehensive list of these deals; just have a quick search around the Internet and you’ll find that someone has already done the work of compiling them for you. Whether it’s a bar with a special Wednesday two-for-one drinks deal, a restaurant that offers 20% off when you show your student card, or a store that has special giveaways and rewards programs for students only, there are plenty of ways to get a bang for your buck if you’re a card-carrying, poverty-stricken student.

Pick One Night A Week To Stay In

This seems simple to do, but as a student, it can be hard to turn down invites to parties, gigs, or other events. One easy way to make sure you’re not spending too much money – and to make sure you are focused on your studies, too – is to pick one night a week to stay in and stick with it!

Continue Reading

Education

How Work Automation Amplifies Project Management

Published

on

How Work Automation Amplifies Project Management

Have you thought about implementing work automation or project management software into your business? If you have, then you’re not alone. There are several popular project management software tools out there such as Monday, Trello, Asana and many more. You can even invest in customised tools to suit your unique business needs.

Work automation can improve productivity and make it so much easier for project managers to stay on top of things while working on big-picture tasks instead of mundane, time-consuming admin. Here’s everything you need to know about work automation in project management.

What is work automation?

Work automation is the use of any system that streamlines the work you’re doing. In a factory, it might be the use of machinery to perform repetitive, mundane tasks such as sorting. In an office, it might be a customer relationship management (CRM) program to assist with sales and marketing. For project management, it is likely to be a project management tool that’s used for automation, communication and much more.

Basically, the whole idea is to increase productivity by taking a lot of mundane, repetitive or time-consuming tasks away from humans. That way, they can focus on improving the quality of work or simply performing more impactful duties.

Benefits of work automation in project management

There are plenty of benefits to using work automation in project management. While many people think work automation is just letting computers do the boring tasks for you, it’s a lot more than that. You can improve communication, achieve greater productivity and increase the quality of work. Here are some of the many benefits of work automation in project management.

Increased productivity

For a project to run smoothly, people need to be productive. That’s a given, especially working with strict deadlines and budget requirements. So, anything that increases productivity would be a great idea. Automation isn’t just about reducing admin tasks though. You can use templates and all sorts of automation methods to make all tasks a little bit easier and more streamlined.

The great benefit is that automation also makes things more predictable, especially if you work on a lot of similar projects. Once you’ve put the time into establishing your processes, every subsequent project can run a little smoother. With every task a bit easier, productivity increases drastically.

Cut down the admin tasks

The administrative tasks in most projects can seem overwhelming at times. Whether it’s following up with team members, monitoring task due dates, generating and sending out progress reports or providing other updates, it can almost be a full-time job in itself. Where do you find time to actually manage the project, mentor staff and deal with key stakeholders?

Work automation can take care of all of those routine tasks, which significantly cuts down the admin involved. It also reduces the admin requirements for all your team members, meaning they can be more productive because they’re not worrying about endless admin.

More time for high-level project management

When you cut down all those irritating admin tasks such as sending out reminders and following up on incomplete tasks, guess what happens? You’ve got more time to do high-level strategic tasks that most people would consider more important. For example, you may find you’ve got more time to keep on top of the budget or deal with external stakeholders.

Every project is different, of course, but most people who have obtained program management certification would agree that there are better things to do with their time than sending notifications and generating reports. Your job is to oversee the whole project, juggle a number of different tasks and keep everything running smoothly, so let project management software take care of the mundane tasks.

Improved communication

Work automation tools also have a valuable role to play in project communication. As an example, many project management software programs have the ability to share information on chats or message boards. Everything has a designated place, such as specific chat channels for each task or work area. This improves everyone’s ability to access the information they need and to receive answers to questions quickly.

In addition, communication is more streamlined between team members and project managers. Tasks can simply be checked as ‘complete’ in a software program, which automatically sends a notification to the relevant people. No more wasting time with individual emails, because much of the communication is automated.

Better consistency

You’ll also find that consistency improves with work automation because everything becomes more predictable. When staff have set templates, guidelines and processes to follow, the work is naturally more consistent and less open to interpretation. Basically, when people need to spend less time thinking about the exact processes they need to follow, they can spend more time ensuring the quality of work is high.

In addition, many types of work automation also remove the risk of human error. This is especially true when it comes to data analysis if you’re using some kind of artificial intelligence program. Machines don’t make the mistakes that we as humans do, meaning you can achieve better quality for certain work tasks through automation.

Tips for using work automation in project management

So, you can see how beneficial work automation can be in a project management environment. But that doesn’t mean any old project management software will do the trick. Nor does it mean that every type of work automation is right for your business. Here are some tips to ensure that work automation actually benefits your teams.

Provide proper training to staff

One of the most important things you need to consider regarding work automation is staff training. You’d know yourself that it’s no fun picking up software programs and having to figure them out for yourself. If you did your project management certification online, you would have first been given instructions on how to use the online portals. So, that’s exactly what you need to provide for your project officers.

If you’re implementing new systems for work automation, every person using them needs to be trained in great detail to ensure that work is completed properly. Work automation is great, but it often requires the correct human inputs to make everything flow smoothly. In addition, if you already have work automation in place and you’re onboarding a new staff member, make sure they’re given thorough training.

Limit the number of software programs

The world of technology moves extremely quickly, so there are new tools and software programs available all the time. So, when deciding on how you’re going to achieve work automation, look carefully at the tools you already use. Do they have the capability to perform automated tasks?

If not, and you need to implement a whole new system, try to make everything as streamlined as possible. If you need to use multiple software programs, make sure that they don’t actually make your work harder. Often, too many apps and programs can lead to re-work and duplication. If you can. Try to find software that integrates well with your other systems, and this will increase productivity rather than hinder it.

Ask for feedback from the project team

Finally, like anything you do, ask for feedback! At the end of each project, you should always take time to analyse what worked well and what could have been done better. Your team members can be part of this process and give their thoughts. If there are issues with any of the work automation that was used in the project, you can find ways to improve things in the future.

If you’ve considered work automation for project management, hopefully this article has given you some insight into why it’s a good idea, and also some of the pitfalls to avoid.

Continue Reading

Trending

Copyright © 2021 | Chatonic | All rights reserved.