8 answers
Lola
Student
Oak Ridge, Tennessee
1
Question
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What does the day in the life of an accountant look like?
What are the daily tasks of an accountant?
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8 answers
Doc Frick
Career Coach and Mentor
1351
Answers
California, CA
Updated
Doc’s Answer
Lola a Certified Public Accounts (CPA's) average day may be predictable and based on the monthly accounting cycle, depending on the workplace, or it may be packed with auditing tasks every day. The majority of a CPA’s work is dependent on the specific office and role. For instance, the duties could include consulting, tax, and management services. In a public setting, CPAs offer their clients an unbiased perspective. Positions in business and industry can be found in any size. The CPA is a member of the accounting team supporting that company. Government CPAs can do performance audits, financial audits, compliance audits, and investigative audits in addition to performing many of the same financial reporting and management accounting tasks. A CPA is also required by non-profit seeking organizations to put up an internal control system, handle tax issues, create financial reports, and allocate resources. The day-to-day duties of a CPA are determined by work in any of these sectors, and the work might vary substantially.
Doc, thank you!
Lola
Daniel Brennan
66
Answers
Updated
Daniel’s Answer
When you start out as a public accountant, your days often look have a similar pattern depending on the client. The first hour or two are usually administrative tasks, including responding to emails from co-workers and occasionally clients (depends your teams comfort level with the client), downloading any files received from the client, and responding to any feedback that was provided on the work you did the previous day. The next few hours usually revolve around completing tasks that your senior provides to you. This involves a brief meeting to discuss the task, and then a debrief at the end where you can show what you did and ask any questions you might have.
In addition, you might attend some larger team meetings, or company meetings which will discuss anything from the following week, to new accounting initiatives and so on.
Although the structure of the days are very similar, you are often working on new testing areas and new projects, so it is always new and interesting material.
In addition, you might attend some larger team meetings, or company meetings which will discuss anything from the following week, to new accounting initiatives and so on.
Although the structure of the days are very similar, you are often working on new testing areas and new projects, so it is always new and interesting material.
Brittney Betts
Junior Accountant
27
Answers
Pinellas Park, Florida
Updated
Brittney’s Answer
Hi Lola!
I'm very happy that you asked this question! I actually have experience in both private and public accounting, so I feel that I can give you a fair description of both.
If you decide to go into public accounting, you will be asked to decide between tax, audit, or possibly consulting. I have always found tax more interesting than audit or consulting, so I can only elaborate on what the day-to-day of a tax accountant would look like. When I interned for a public accounting firm in their tax department, my day would consist of tax preparation and learning various tax rules and policies from team members. I have gathered that this is what the beginning looks like, and then as you gain experience you start helping others learn tax accounting and preparation as a senior accountant. A tax manager is more focused on client relations, doing reviews once the tax form is prepared, and sometimes helping to manage the team of accountants.
I have also worked in private accounting. When working for a private company, I found that you may only learn about their specific accounting rules and practices. As opposed to public accounting, when you are forced to learn the accounting procedures and policies for a wide range of companies. Your day-to-day may be more repetitive in private accounting because this. Some of your tasks in private accounting will include recording bank deposits, bill payments, generating financial statements and sending them to the appropriate departments, answering accounting questions that come from other departments.
I hope that this answer has been helpful, and I wish you all the best!
I'm very happy that you asked this question! I actually have experience in both private and public accounting, so I feel that I can give you a fair description of both.
If you decide to go into public accounting, you will be asked to decide between tax, audit, or possibly consulting. I have always found tax more interesting than audit or consulting, so I can only elaborate on what the day-to-day of a tax accountant would look like. When I interned for a public accounting firm in their tax department, my day would consist of tax preparation and learning various tax rules and policies from team members. I have gathered that this is what the beginning looks like, and then as you gain experience you start helping others learn tax accounting and preparation as a senior accountant. A tax manager is more focused on client relations, doing reviews once the tax form is prepared, and sometimes helping to manage the team of accountants.
I have also worked in private accounting. When working for a private company, I found that you may only learn about their specific accounting rules and practices. As opposed to public accounting, when you are forced to learn the accounting procedures and policies for a wide range of companies. Your day-to-day may be more repetitive in private accounting because this. Some of your tasks in private accounting will include recording bank deposits, bill payments, generating financial statements and sending them to the appropriate departments, answering accounting questions that come from other departments.
I hope that this answer has been helpful, and I wish you all the best!
Thank you so much for the advice.
Lola
Sonia Shah
Accounting and Financial Reporting
3
Answers
Anaheim, California
Updated
Sonia’s Answer
There are many different avenues you can go down as an accountant. You can go into public accounting which is a type of client service and includes audit, tax, and internal audit services. With public accounting, because you are client service, you are typically busy year-round because clients require different services at different times. You can go into private accounting which is working for a company. The great thing about this is that every company will always need an accountant. There are several accounting roles depending on the industry and area you are interested in. There is operations accounting, month-end close, internal reporting, and external reporting. Overall, in private companies, work tends to be more cyclical and predictable in nature.
One thing I highly recommend is to start interning very early on. I had my first internship after freshman year and it started giving me ideas of the various different avenues out there for accounting and what would be best for me. Good luck!
One thing I highly recommend is to start interning very early on. I had my first internship after freshman year and it started giving me ideas of the various different avenues out there for accounting and what would be best for me. Good luck!
Thank you so much, Sonia!
Lola
Kevin Greenlees
Accountant, Financial Analyst, Automations Developer
17
Answers
Grand Rapids, Michigan
Updated
Kevin’s Answer
Others have submitted wonderful answers, and I'd only reinforce what they have stated: it depends.
"It depends" are the two most important words in my vocabulary as an accountant. When others ask me questions, my response almost always starts with "it depends."
"Can I deduct the mileage on my car when I drive to work?"
It depends... what do you do, who do you work for, where are you driving, why are you driving there?
"Should this money go to revenue this period?"
It depends... what were the performance obligations, what's in the contract, what liabilities remain... etc?
That said, what a day in my life as an accountant looks like depends on a lot of things such as where we are in the period/quarter/fiscal year, what challenges are emerging, and a whole host of other things.
I specialize in a role wherein I get to work with automation and AI on a daily basis, enhancing the work of my peers and making us a more efficient, reliable team. So I'm often embedded in coding projects, working with automation software (Alteryx, UiPath, etc), and facing inward. Others in my team work more directly with clients and external parties, so they spend more of their time in meetings, on the phone, and posting journal entries, doing highly repetitive work.
So, at the end of the day, it depends on who you work for, what your specific niche is, what day it is, and so much more.
"It depends" are the two most important words in my vocabulary as an accountant. When others ask me questions, my response almost always starts with "it depends."
"Can I deduct the mileage on my car when I drive to work?"
It depends... what do you do, who do you work for, where are you driving, why are you driving there?
"Should this money go to revenue this period?"
It depends... what were the performance obligations, what's in the contract, what liabilities remain... etc?
That said, what a day in my life as an accountant looks like depends on a lot of things such as where we are in the period/quarter/fiscal year, what challenges are emerging, and a whole host of other things.
I specialize in a role wherein I get to work with automation and AI on a daily basis, enhancing the work of my peers and making us a more efficient, reliable team. So I'm often embedded in coding projects, working with automation software (Alteryx, UiPath, etc), and facing inward. Others in my team work more directly with clients and external parties, so they spend more of their time in meetings, on the phone, and posting journal entries, doing highly repetitive work.
So, at the end of the day, it depends on who you work for, what your specific niche is, what day it is, and so much more.
Caroline Hacikyaner, CPA
Director of Finance, Integration and Operations
2
Answers
Montreal, Quebec, Canada
Updated
Caroline’s Answer
Hello Lola, your question is indeed insightful. As others have pointed out, the daily routine of accountants can vary greatly due to the diverse nature of this profession. For instance, Certified Public Accountants (CPAs) typically start in audit, but even this can differ based on the industry and company size. From my personal experience as a CPA, auditing has provided me with a valuable glimpse into the daily activities of various accounting professionals. I highly recommend seeking a mentor or participating in job shadowing as these can be extremely beneficial.
To give you a snapshot of my daily routine in Mergers & Acquisitions/Integration, here are some tasks:
- I lead conference calls to discuss inter-company transactions. Afterwards, I send follow-up emails to distribute excel files containing the calculations. I then seek approval before making any postings.
- I handle Ad Hoc calls regarding various issues, such as the accounting process for services rendered or delivered to another entity.
- I consult with experts in tax, transfer pricing, and legal matters on diverse topics to ensure we're always in compliance.
In addition to these tasks, I make it a point to network and learn something new every week. Wishing you all the best in your journey!
To give you a snapshot of my daily routine in Mergers & Acquisitions/Integration, here are some tasks:
- I lead conference calls to discuss inter-company transactions. Afterwards, I send follow-up emails to distribute excel files containing the calculations. I then seek approval before making any postings.
- I handle Ad Hoc calls regarding various issues, such as the accounting process for services rendered or delivered to another entity.
- I consult with experts in tax, transfer pricing, and legal matters on diverse topics to ensure we're always in compliance.
In addition to these tasks, I make it a point to network and learn something new every week. Wishing you all the best in your journey!
Amit Mittal
Officer at Citibank
96
Answers
Pune, Maharashtra, India
Updated
Amit’s Answer
Hello Lola,
The life of an accountant can be a colorful tapestry of tasks, each day bringing its own unique set of challenges and rewards, depending on the specific sector they are engaged in, such as tax or public accounting. That being said, there are several staple activities that most accountants can anticipate in their daily routine:
Harnessing Analytical Abilities: Accountants regularly encounter tasks that call for sharp, analytical thinking, turning problems into solutions.
Engaging in Detail-Oriented Tasks: A significant portion of an accountant's work is detail-oriented, ensuring meticulousness and accuracy in the multitude of projects undertaken throughout the day.
Interacting with Fellow Accounting Professionals and Teams: Most accountants collaborate with other accounting professionals, sharing their knowledge, viewpoints, and reports with other team members within the organization.
Executing Technical Financial Tasks: As an accountant, you will often find yourself immersed in numbers, working with formulas, and conducting financial analysis.
Typical daily tasks could encompass:
Renewing and enhancing financial data.
Balancing cash and receipts.
Examining and reconciling transactions.
Logging and classifying expenses.
Recording received inventory.
Accountants also dedicate a substantial part of their day to recording financial transactions, assessing the effectiveness of current accounting procedures, scrutinizing financial documents to rectify discrepancies, devising budgets, and drafting audit reports. They also carry out risk analysis evaluations.
Keep in mind that these are broad tasks and responsibilities. The specifics can greatly differ based on the type of accounting role and the organization’s requirements. For instance, a day in the life of a cost accountant may contrast significantly from that of a tax accountant.
I trust this provides a comprehensive snapshot of what a day in the life of an accountant might entail! If you have any additional inquiries or require further elucidation, don't hesitate to reach out.
The life of an accountant can be a colorful tapestry of tasks, each day bringing its own unique set of challenges and rewards, depending on the specific sector they are engaged in, such as tax or public accounting. That being said, there are several staple activities that most accountants can anticipate in their daily routine:
Harnessing Analytical Abilities: Accountants regularly encounter tasks that call for sharp, analytical thinking, turning problems into solutions.
Engaging in Detail-Oriented Tasks: A significant portion of an accountant's work is detail-oriented, ensuring meticulousness and accuracy in the multitude of projects undertaken throughout the day.
Interacting with Fellow Accounting Professionals and Teams: Most accountants collaborate with other accounting professionals, sharing their knowledge, viewpoints, and reports with other team members within the organization.
Executing Technical Financial Tasks: As an accountant, you will often find yourself immersed in numbers, working with formulas, and conducting financial analysis.
Typical daily tasks could encompass:
Renewing and enhancing financial data.
Balancing cash and receipts.
Examining and reconciling transactions.
Logging and classifying expenses.
Recording received inventory.
Accountants also dedicate a substantial part of their day to recording financial transactions, assessing the effectiveness of current accounting procedures, scrutinizing financial documents to rectify discrepancies, devising budgets, and drafting audit reports. They also carry out risk analysis evaluations.
Keep in mind that these are broad tasks and responsibilities. The specifics can greatly differ based on the type of accounting role and the organization’s requirements. For instance, a day in the life of a cost accountant may contrast significantly from that of a tax accountant.
I trust this provides a comprehensive snapshot of what a day in the life of an accountant might entail! If you have any additional inquiries or require further elucidation, don't hesitate to reach out.
Thank you so much!
Lola
Amani Yagboyaju, CFE
Forensic Consultant
4
Answers
Houston, Texas
Updated
Amani’s Answer
The day in the life of an accountant can vary depending on factors such as the industry, organization, and specific role. However, here is a general overview of what a typical day might look like for an accountant:
1. Reviewing and analyzing financial data
2. Recording and reconciling transactions
3. Preparing financial reports
4. Assisting with audits and tax compliance
5. Providing financial advice and support
6. Staying updated with regulations and industry trends
It's important to note that the specific tasks and responsibilities can vary depending on the accountant's level of experience and the organization's needs. Additionally, certain periods, such as month-end or year-end closing, may involve more intensive workloads and longer hours.
1. Reviewing and analyzing financial data
2. Recording and reconciling transactions
3. Preparing financial reports
4. Assisting with audits and tax compliance
5. Providing financial advice and support
6. Staying updated with regulations and industry trends
It's important to note that the specific tasks and responsibilities can vary depending on the accountant's level of experience and the organization's needs. Additionally, certain periods, such as month-end or year-end closing, may involve more intensive workloads and longer hours.