Public Accountant

Alison; United Kingdom; On-site; GBP 35,000 - 45,000; Full time

Job summary

A leading firm in accounting seeks Public Accountants to ensure financial accuracy and compliance for clients. Responsibilities include auditing company finances, preparing tax returns, and providing strategic advice on minimizing tax burdens. Ideal candidates should possess a Bachelor's degree in Accounting and strong analytical skills. The role requires effective communication and attention to detail within an office environment. Opportunities for advancement exist with continued education and performance-based promotions.

Benefits

Professional development courses

Potential for career advancement

Qualifications

• Bachelor's degree required to become a Public Accountant.
• Completion of 150 semester hours of education in accounting or related subjects.
• Strong analytical skills and attention to detail are necessary.

Responsibilities

• Collect, organize, and track financial information for individuals and organizations.
• Prepare tax returns and advise clients on minimizing tax liabilities.
• Conduct audits to ensure compliance with legal practices.

Skills

Analytical skills

Attention to detail

Communication skills

Critical thinking

Mathematical skills

Education

Bachelor's degree in Accounting or related field

150 semester hours of education

Tools

Accounting software

Excel

Job description

Accounting and finance are at the epicentre of significant developments owing to the privatisation and globalisation of various economies. Public Accountants are masters of the language of business and provide diverse services to protect the public interest. They audit companies such as local businesses or Fortune 500 companies to ensure business decisions that would accelerate growth and even help individuals plan their financial futures.

What do Public Accountants do?

• Collect, organise, update and track financial information (both physical and digital) for individuals and organisations
• Keep this information confidential unless financial reports regarding revenues, expenses, assets and liabilities are to be prepared for internal use by staff and to meet Government requirements, shareholders and other appropriate entities
• Prepare tax returns to minimise tax liabilities and ensure that income is reported according to the IRS code; liaise with tax accountants to track tax payments and returns; advise clients or management at their firm regarding strategies to limit future tax burden
• Perform regular, detailed audits to ensure accuracy in financial documents, expenditures and investments; oversee ledger reconciliation and manage accounts payable/receivable
• Conduct audits to determine if client organisations or their own employer is following established legal practices and company policies for financial transactions; review and interpret the financial information in the company's records
• Prepare reports with their findings to recommend remedies that will resolve problems and reduce the risk of lawsuits and financial losses due to staff errors or criminal activity
• Forecast revenue and analyse profit margins by frequently monitoring bookkeeping activities; take part in the budgeting processes and brief senior managers on the company's financial status at the time of creating the budget
• Stay informed of changing trends in the industry, in the field of finance and the economy as a whole

Most Public Accountants typically work in an office setting in Government chambers, large firms and corporations and with local businesses. They live close to their work location and may sometimes need to travel to report and account financial activities precisely.

Any academic program that a potential Public Accountant takes up typically requires a period of supervised experience, such as an internship. You may contact accountancy firms and local government agencies to ask about opportunities to gain relevant pre‑entry work experience, such as vacation work, work placements or shadowing other intermediary and senior accounting executives.

As in any career, reading as much as possible about the profession and interviewing those working in Public Accountancy are other important ways to explore your interest.

You must possess a bachelor's degree to be eligible to become a Public Accountant. If you have completed an associate degree, consider applying for a bachelor's program to boost your credentials.

Prospective Public Accountants must have taken some college preparatory courses at high school, such as economics, intermediary and advanced mathematics, business mathematics and so on. To obtain the required body of knowledge and to develop the skills and abilities needed to be successful Public Accountants, students should complete 150 semester hours of education, which is 30 hours beyond a conventional undergraduate education.

You may fulfil the 150‑hour requirement in any of three ways, the preferred subjects being accounting, commerce, finance and markets, mathematics and economics. First, you may combine an undergraduate accounting degree with a master's degree at the same school or a different one. The second route is to combine an undergraduate degree in some other discipline with a master's in accounting or an MBA (Master of Business Administration) degree with a concentration in accounting. The third option would be to enrol in an integrated five‑year professional accounting school or program leading to a master's degree in accounting.

Pursuing an MBA (Master of Business Administration) or master's programs in accounting or taxation may expand your range of job opportunities, raise salary potential, and develop technical skills such as presentation and communication.

After prospective Public Accountants complete their degrees, they must take a test to get state licensure and certification.

Licensing and certification requirements usually vary from one country to another. The Association of International Certified Public Accountants, however, provides training and certification for Public Accountants worldwide.

Performance, experience, and the acquisition of professional qualifications drive career progression. Public Accountants with consistently high levels of performance may be eligible for promotion every two to three years.

Public Accountants can diversify within the three major trajectories of auditing, tax, and budget & financial analysis.

Auditing is rather intense and involves checking all accounting ledgers and financial statements. It may also involve travel from one place to another to report accurate findings.

As a tax accountant, you would prepare corporate and personal income tax statements, provide guidance and assistance on how to handle mergers, acquisitions, tax issues and how to record expenses that have tax implications, and more.

Through budget & financial analysis, you analyse the development and management of the overall financial plans of an organisation. You would prepare financial statements, help with decision‑making on employee benefits, financial projections, and work with several departments to get the required information.

Public Accountants are particularly suited to become CFOs (Chief Financial Officers) or other senior executives due to their discipline, organisational skills, financial acumen, and integrity. To become CFOs, Public Accountants must complete the necessary certification requirements along with mandatory work experience.

Candidates with the necessary skills, experience, and education have the best job prospects. Having a master's degree is highly recommended to bag a senior executive position within the realm of accounting. Identification of fine details, critical thinking skills and the skilful usage of computers may enhance a Public Accountant's job prospects.

Continuing Professional Education (CPE) is a requirement for Public Accountants since it helps maintain their competency and skill sets as professional services providers. Institutions such as the Association of International Certified Professional Accountants provide a range of professional development courses for Public Accountants.

Public Accountants must constantly upskill themselves to keep up with the changing trends in the field of finance. They must improve their computer skills, critical‑thinking abilities, mathematical and technical knowledge to enhance their job performance.

Chartered Accountants vs Certified Public Accountants

Both Certified Public Accountants and Chartered Accountants are credentials that one earns as a result of a defined study program and passing an examination. However, Certified Public Accountant (CPA) is a credential issued only in the United States, while a Chartered Accountant (CA) is recognised worldwide. Both a CPA and a CA are professionals who have minor differences in their knowledge base, the nature of financial services they offer to clients, and their job responsibilities.