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Accountants and auditors ensure the nation’s firms run efficiency and the public records are kept accurately and the taxes are paid on-time.
The specific job of a junior can be to work as per the instructions given by a senior manager related to any of the fields like - a public service-related work, or a management-level position, or government-related, or accounting or internal auditing job.
Public accountants perform a broad range of services like consulting clients, preparing reports, auditing, tax, and others.
They may be associated or hired by government or companies or individuals or non – profit organizations.
Government-related work will be about public sector dealings where they have to maintain and examine the records of such agencies and audit private businesses or people, to handle their financial data, the related regulations, and tax papers.
Firms hire internal auditors for internal control and checks related to spending, fraud, and mismanagement. Such auditors review the operations; evaluate the efficiency and compliance-related factors.
Today most such accounting activities are handled by computers and software can be used by the accountants and auditors to correct problems related to financial data management.
These people can work as personal advisors and provide clients with tax-related help or set up a personal budget, asset management, and investment for retirement and also provide market-related factors to recognize the exposure to risks.
Such employees work in office settings and are employed by organizations for branches in multiple locations.
The basic education or training required for such jobs is a Bachelor's or a Master's Degree in commerce or a professional certificate.
Such professionals having experience in the field can join in as managers, who can work as cost accountants or junior internal auditors or trainees, and they can rise in their work area and may advance to become a chief or hedge funds administrator or director.
In the UK, the salary of an account manager can be in the range from £40,000 to £60,000 a year.
The pace of change in the sector due to the introduction of technology has impacted the medium-term employees.
The cloud-based solutions handle everyday tasks like data entry and the employee gets the most time to concentrate on providing value-added services to the client.
Lower skilled workers like Junior Accountant earn £ 12K to £20K a year in the UK, and in the US, the BLS reports find the median salary for such jobs (in 2018) was $70,500.
Those who are working in the lowest 10 percent management levels get approx. $43,650 and those in highest get $122,840 per year.
Those who are proficient and have experience in handling computer software or those with specialization in current legislation and certain industries have the advantage of getting related jobs.
Regardless of qualifications, competition is very high for most of the prestigious and high paying jobs in the field, where they may concentrate on improving their skill set to boost earnings.
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