Accountant Salary and Information

Job Description

An accountant provide information about financial records. This involve them in financial reporting, taxation, auditing, forensic accounting, corporate finance and so on.

They have a strategic role in companies as they provide professional and trustworthly advice. They goals is to maximise profitability on behalf of the client or the company the accountant is working for. They work in many different sectors including public firms, industry and commmerce.

Typical work activities include many different aspects of finance work… They provide financial audvice, they manage financial audits and keep a track on financial systems and budgets…

Most accountants have a specialty. There are four main kinds of accountants.

Public accountants work for public accounting companies. They do accounting, auditing, tax, and consulting work. Some have their own businesses. They do many different kinds of accounting for people outside the company.

Management accountants keep track of the money spent and made by the companies for which they work.

Internal auditors make sure that a company’s accounting records are right. They check the records to see that no one in the company is stealing. They also check to see that no one in the company is wasting the company’s money.

Government accountants and auditors make sure that government accounting records are right. They also check the records of people doing business with the government.

Accountants and auditors work in offices. They generally work a standard 40-hour week, but some work 50 hours a week or more. Tax accountants often work long hours during the tax season, from January to April. Accountants working for the government and public companies travel to audit other companies or branches of their own company.

Career Path for this Jobs

How do you get ready?

Most accountants have a college degree in accounting. Public accountants have to take a special test as well, resulting in a certification. Public accountants also must have a special license from the State in which they live. Most employers want accountants who know quite a bit about computers. Previous experience in a summer or part-time internship is also a plus.

People who want to be accountants should be good at math, and have good analytical skills. They also should be able to write well, so that they can tell others about their findings.

There is a lot of different paths people can take to become an accountant. Most of the people start as an Customer Service Representative, Junior Accountant, or Assistant Accountant.

After a couple of years, an Accountant could be promoted as Staff Accountant, Senior Accountant, Senior Staff Accountant…

Accountant Salary

How much does this job pay?

Accountant Salary: ,000 (average salary)

20,000 Salaries

Staff Accountant Salary: ,000 (average salary)

4,000 Salaries registered anonymously for this job

Senior Accountant Salary: ,000 (average salary)

1,500 Salaries registered anonymously for this job

Job Offers

How many jobs are there?

There were 1.5 million accountants and auditors in 2010.

Most of them worked in cities, because that is where the large companies tend to be.

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Simple Personal Finance Checklist – Consider yourself as a Business

Why would you not consider yourself a business of ONE person? Or your family as a business of 3 or more people? Well that is exactly what you are – “Me Incorporated”, “I Inc”, “We Incorporated”. You truly must consider yourself a small family business. Like any business you have ongoing expenses (mortgage, rent, utilities, groceries), revenue (salary and other income) and major capital expenditures (house, vehicle, vacations, renovations).

Like any good ‘household business’, you need to do some planning. Set out a budget for the year, track your expenditures and retained earnings (savings). Yes, all of this looks, feels and is exactly like a well run business. On My Gosh! Don’t rush out and buy an accounting package to run your household. And no need to take a crash course on accounting or bookkeeping. You can accomplish all your financial tracking and planning requirements with some paper or by using a simple template with your favorite spreadsheet package – Microsoft Excel or even with Open Office.

Just like a well run business, your household budget and tracking your spending is best served using a visible record of events; namely, financial records, bank or check register. It is just like tracking your road trip progress using a map. If you know where you are now, then you will have some idea when you will arrive at your destination. In life, money or finances allows you to get to your personal destinations or dreams. A visible financial roadmap of your ‘Me Incorporated’ finances, mapping your progress, seems logical.

Running your ‘Household Business’, like corporate business, requires a few processes to keep track of your finances:

1) Establish a yearly and monthly household budget. Consider all your expenses – weekly, monthly, quarterly and yearly outlays of money. You will be surprised at the length of this list and all the places you spend your money.

2) Track monthly your actually spending and income against the budget you established in step 1. This will help you see the ‘peaks and valleys’ of spending or seasonality aspect of your expenses. Over time, you will come to know these expense ‘peaks and valleys’ and this will help you maintain a positive cash flow. Bottom line: have money in the bank to pay all your expenses and still have some left over (retained earnings). Your single biggest challenge in running any household (or business) is always having enough money in the bank to pay the bills; especially, the unexpected ones. Having a buffer of savings will help with these ‘peaks’ in expenses.

3) Track all your bank account activity. Track and enter in your Bank or Check Register every deposit, every electronic (ATM, web, PayPal, debit machine) transaction and every analog (check, money order) withdrawal. And reconcile your bank statement every month. Know exactly how much money you have available in your bank account(s).

4) Especially track your spending through credit cards and lines of credit. These are potentially the ‘run away’ expenses. Remember only once a month do you see the visible record of your credit card spending. Compound that with the fact that most people have more than one credit card. This can easily result in multiple ‘spending surprises’ each month. Be diligent in tracking your use of credit card transactions. Breakdown the credit card expenses into their respective budget items – gas, groceries, clothing, entertainment, etc. This will help you separate normal household expenditures from other shopping incidentals. You will come to see your spending patterns and can now make adjustments. Just like your bank account, reconcile your credit card statement every month.

All this personal bookkeeping every month can be done with pen and paper or set up a personal finance and budgeting template using your favorite spreadsheet software. Using an electronic spreadsheet allows for all of the mundane calculations to be processed automatically, reducing monthly reconciliations to a simple 5-10 minute endeavour. Whether you choose an analog or digital approach to your personal finance bookkeeping, these visible records are the most effective way to plan and control your personal finances and reduce one of the major stress points in your life – Your Financial Health.

Just in case you don’t know who Jordan Goodman is…. Jordan E. Goodman is “America’s Money Answers Man” and a nationally-recognized expert on personal finance. He is a regular contributor to Public Radio International’s The Marketplace Morning Report and is a daily guest on radio and television call-in shows across the country, answering questions on personal financial topics. He appears frequently on NBC’s The Today Show, PBS, MSNBC, CNN, CNBC, and Nightline. For 18 years, Mr. Goodman was on the editorial staff of Money magazine, where he served as Wall Street correspondent. While at Money, Mr.Goodman reported and wrote on virtually every aspect of personal finance. In addition, he served as weekly financial analyst on NBC News at Sunrise for 9 years and the daily business news commentator on Mutual Broadcasting Systems America in the Morning show for 8 years. He is the author / co-author of three best-selling books on personal finance including Everyone’s Money Book (over 200000 copies sold) and Barron’s Dictionary of Finance and Investment Terms and The Money Answers Dictionary. His upcoming books are 6 special focus editions of Everyone’s Money Book on College, Credit, Financial Planning, Real Estate, Retirement Planning and Stocks, Bonds and Mutual Funds. Jordan is also a speaker and seminar leader on personal finance topics for business executives, students, associations, investment clubs, employees and others.
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Income tax


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Income Tax, Income Tax Planning, Basic Pay In Salary, Gratuity Limit, Tax Slabs, Tax-Free Gratuity Limit

With the government raising the gratuity limit, it makes sense to negotiate for a higher basic salary to ensure a better payout.

The Union cabinet’s decision to raise the tax-free gratuity limit from Rs 3.5 lakh to Rs 10 lakh is likely to become a tool for companies to retain employees.

In 2008, when the government implemented the Sixth Pay Commission for central government employees, it was with effect from 2006. This helped employeesreap rich benefits. The decision to increase the limit forprivate sector employees brings them at par with government employees in terms of gratuity benefits.

However, employees wanting to take advantage of this decision need to be aware of a few things. One, salary negotiations will become critical as it makes sense to ask for a higher basic salary, especially if he is planning to stay with the company for long. Also, job-hoppers stand to lose money which is deducted from their salary under the gratuity head.

“To have a cost-optimum structure, the basic salary should be 40-50 per cent of the pay,” says Vikas Vasal, executive director, KPMG. This ensures that a person strikes a balance between the taxes he has to pay, his take-home salary, and exemptions and deductions available under the Income-Tax Act.

While negotiating for a new job, it is best if you ask for a higher basic pay. This will help you accumulate a good gratuity, or “accrued benefit,” as it is called. “After this announcement, employees should be more concerned with the basic salary than the cost to company, especially the middle class, for whom Rs 10 lakh is a significant sum,” said K Pandia Rajan, managing director, Ma Foi Randstad, citing the example of the US, where the basic salary is 70 per cent of the total.

In India, many employers keep the basic pay low, say tax experts. In such cases, employees should take a re-look at their basic salaries. If the basic salary as a percentage of the overall salary is low, the person should ask the employer to bring it to the 40-50 per cent level. “In small organisations, there is a scope for such negotiations,” said a tax expert. Knowing the method of gratuity calculation will clarify this point. The calculation is based on the current basic salary multiplied by the number of years, and further multiplied by 15/26.

If an employee with a basic monthly salary of Rs 20,000 has resigned after completing five years of service, he will get Rs 57,692 as gratuity. For someone who is retiring after 30 years and has a basic salary of Rs 60,000, the gratuity will be Rs 10,38,461. Of this, the person does not need to pay tax on Rs 10 lakh. The remaining Rs 38,461 will attract tax. The taxpayer needs to add the excess amount to his income to calculate his tax liability.

In future, an employee will be able to save tax on gratuity if he invests the amount in an annuity plan. “The draft of the Direct Tax Code has made a provision for such an investment,” said Vasal. In the Budget speech, the finance minister said the government was likely to implement the Direct Tax Code from April 1, 2011.

Any organisation with more than 10 employees needs to make provision for gratuity payouts according to the Payment of Gratuity Act, 1972. An employer makes this payment at the time of retirement, resignation, and death or disablement due to an accident or a disease.

In the private sector, only manufacturing companies have low employee churn. In other sectors, attrition rates are quite high.

Many feel that employees in the private sector do not give importance to gratuity as they rarely work in a company for long. “Young employees today look at cash-in-hand more than long-term benefits like gratuity,” said a human resource head of a large company.

To be eligible for gratuity, an employee needs to put in a substantial number of years in the job. While the Payment of Gratuity Act, 1972, pegs this at five years, many companies have set higher limits.

This clip comes from Aaron Russo’s film, America: Freedom to Fascism. You can watch the film online @ video.google.com Please learn the truth behind the income tax: it was created with the Federal Reserve Act in 1913 – its purpose being to fund the government to pay the interest incurred on government loans from the (private) Federal Reserve. In other words, the income tax is paid to central bankers, and have no gains to you whatsoever. Learn about how international bankers (such as the Rothschild’s and Rockefeller’s) have come to dominate the world through the control of financial systems, via their ownership of central banking institutions. But that’s only the beginning… We have become their slaves, and they desire to form a world-government that will control us all under their supreme authority. And knowing the truth is the only thing that can set us free. MARCH ON WASHINGTON! April 15th, 2008 PROTEST THE INCOME TAX AT YOUR LOCAL POST OFFICE! So long as there is a central bank, you will never be free or prosperous.

Afton Village – AV Management Company – Residential Sales


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Hiring Super Sales People and Sales Managers

Hiring successful sales people and sales managers requires a scientific process, not a resume and interview ritual.  You’ve probably been fooled many times from a great impression at the interview, and then the person didn’t cut it.  S/he either quit, got fired or worse yet, s/he is still with you under producing.  Well these mistakes can be avoided, along with all the lost customers and associated expenses for training, salary, etc., by using my recruiting process.

 

The Science of Sales Person Selection

 

There are certain elements present and/or absent and/or mixed in proportions that determine selling and sales management success.  (See the White Paper described at the end of this article).  So in order to hire super sales people companies must:  Measure the amounts of each element; determine what mixes and what doesn’t; decide what can be changed or improved in the time allotted to change it; analyze findings; Interview candidates that tested positive and make your selection. 

 

This science is 96% accurate for selecting successful sales people for any industry.  That’s better than 9 super sales people for every 10 you choose.  Selling success means the person is an over-achiever and/or a top producer on your selling team.    Think of all the sales people you’ve hired and determine how many of them stayed with you and turned out to be top producers.

 

Selling Success Is Not a Personality Score

 

These elements are not to be confused with personality traits that are described and measured using a variety of personality tests – Meyers Briggs, DISC, etc.  These tests (although valuable for certain things) describe behavioral traits, but do not indicate (1) if a person can sell, (2) if a person wants to sell, (3) if a person has the skills to sell, and (4) if a person can sell for your company.  Now if you’re a CEO or sales manager in-need of someone to fill a selling void or generate needed sales, you’d like to know your selection has 1, 2, 3 and 4 and can hit the road running.

 

The Selling Success Elements

 

There are 4 critical strengths required for selling success – desire, commitment, outlook and accountability.  Commitment and desire are mandatory.  Outlook can be changed and accountability is manageable.

 

There are 5 weaknesses that everyone has.  The amounts and combination of these weaknesses will determine the overall effectiveness of the person.  That is; if someone is really flush with desire, commitment, outlook and accountability, but is encumbered with some or all of the weaknesses, his or her selling effectiveness will diminish proportionally.  The weaknesses relate to money sensitivity, need for approval, self image, personal buying traits, and emotional involvement.

 

Next are selling skills and a selling process that are more comprehensive than showing-up, presenting and expecting a purchase.  These include, getting to the right people, effective interviewing, fitting solutions to defined problems better than alternatives, securing commitment, managing accounts, prospecting, networking, territory development, and so on.

 

All of these strengths, weaknesses and skills can be measured either (1) in an interview by someone savvy questioning and listening for the elements – not many people are competent at doing this, or (2) from a test that gathers information, compiles it, gauges it and validates it regarding these strengths, weaknesses and skills.

 

Selling for Your Company

 

Obviously the person has to be able to sell, but whether or not someone can sell for your company will center on elements defining your type of sale – simple vs. complex; big ticket vs. small; titles the person has to connect to; highly competitive vs. specialty, etc.

 

Finally your type of management must be compared to the style that the person works best with – micro vs. macro management; coaching vs. left alone to survive; tolerant vs. nothing but results.  There are more, and all need to be compared – candidate to company.

 

What to Do to Assure Success

 

Although measuring the elements sounds like a lot of work, the task can be relatively simple.  Devise a test that measures these elements or use proven, existing ones.  Now if you get caught up in the cost of testing, just ask yourself what a failed sales person costs?  And if you get caught-up in the predictability, look to the longevity and satisfied users.

 

Unfortunately, measuring the elements is not all that’s required.  You will need to have a recruiting step.  That is, writing an ad that draws the right type of person and searching the various companies, websites, and other venues where your right person will be hanging around. 

 

This leads us to determining what the right person should look like.  What experiences, salary levels, and successes s/he should have.  Finally, your interviewing process must be set-up to see if chemistries match and to explore red flags indicated by the elements test.

 

This is the recruiting process and now I invite you to learn more about it.