Accountants In The Profession Essay

Questions:

1.When you think of the accounting profession what comes to your mind?
2.What contextual factors do you think could influence the accounting profession?
3.Describe the people you expect to interact with as an accountant.
4.What role do you think you should play in contributing to your community as an accountant?
5.What might the clients and fellow employees expect of you as an accountant?
6.What skills do you think you should possess to be a successful accountant?

Answers:

1.Before joining this course, my idea of being an accountant was confined to its technical characteristics like preparation of accounts, spending all the time sitting on your desk in front of a computer. It also includes providing the required information including the financial statements to the management. But when I think of it today, the accounting profession provides a distinct contribution to the success of an organization. It also manages qualitative roles apart from delivering quantitative information to the users of the financial statements. Team work, best utilization of assets, maintaining a balance between the external and the internal users for the purpose of resource allocation are some of their skills required to deal in the professional environment. Technology plays a dynamic role in the accounting such as cloud computing is having its own implications and results connected to the profession of an accountant (CIMA, 2011).

2.Apart from the regulators and the scandals in the accounting profession, there are other contextual factors which influences the accounting profession. They are the level of technological advancement, ethics, demand and supply in the market, sustainability and globalization. Factors like scandals and ethics are controllable by the profession but the factors like technological development are uncontrollable. These influences the profession even if the controllable factors are under the control of an accountant (IFAC, 2013).

3.As an accountant, it is quite important that one should interact properly with their colleagues and managers in order to get work done. It is also important to ease the flow of information within the organization. An accountant is also required to deal with the stakeholders, creditors, investors, banks or financial institutions and clients in order to help them out with their own set of requirements expected from an accountant. An accountant is required to deal with an auditor or any other professional for affirming the correctness of the work done by him. In order to flourish the business, in the long run, I believe it is very important that an accountant should build up relations with the clients and should interact effectively with them (Australia, 2017).


4.As an accountant, it is important that I should diligently provide required and accurate financial information to its users. This will be an indirect help to them in making a sound decision in relation to the company. As per the body governing the activity of accountants, the level of responsibility has increased. Furnishing correct financial information, following reporting standards to compliance and corporate governance the profession of an accountant has turned out to be more demanding in today’s time. Leadership and analytical skills play a major role in communicating the information and getting work done. Apart from the technical knowledge, an accountant is expected to be well versed with the soft skills in order to meet the challenges of the corporate world (Dave, 2013).

5.Following the ethics and working in the best interest of the company is important. It is also expected that I should be proficient enough with the technical skills, communication and interpersonal skills, leadership style, business skills, team building, and time management skills. It is important to respect cultural differences in this dynamic business environment to survive in the long run. The best of the presentation skills should be adopted while representing the company in order to derive huge benefit in the corporate world. To summarize, it is expected that an accountant should be dynamic like the working environment (Eynon, et al., 1997).

6.Being an accountant, apart from the technical skills, I should have organizing skills where I can manage my responsibility properly. Communication and an art of good presentation are also important in order to survive in this profession. Adaptability with the latest technology and having evaluation skills helps in making the best decision and getting accustomed to the changes. Knowledge of handling accounting software, social media, internet office suites and other media is also important on my part. I should be aware of the laws and regulations so that I can provide the best piece of advice to my clients and in a legal manner (ACCA, 2014).

Bibliography

ACCA, 2014. A Changing Profession. [Online] Available at: [Accessed 05 August 2017].

Australia, C., 2017. Skills List. [Online]
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[Accessed 05 August 2017].

CIMA, 2011. Developments in the global accountancy sector. [Online]
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[Accessed 05 August 2017].

Dave, C., 2013. Expectations from my CPA. [Online]
Available at:
[Accessed 05 August 2017].

Eynon, G., Hill, N. T. & Stevens, K., 1997. Factors that Influence the Moral Reasoning Abilities of Accountants. Journal of Business Ethics, 16(12-13), p. 16.

IFAC, 2013. Professional Accountants in Business—A Varied Profession. [Online]
Available at:
[Accessed 05 August 2017].

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