ACCOUNTANT

Accountants apply principles ofaccounting to analyze financial informationand prepare financial reports.

Tasks

Compile and analyze financialinformation to prepare entries toaccounts, such as general ledgeraccounts, documenting businesstransactions;Analyze financial informationdetailing assets, liabilities, andcapital;Prepare the balance sheet, profit andloss statement, and other reports tosummarize current and projectedcompany financial position;Audit contracts, orders and vouchers,and prepares reports to substantiateindividual transactions prior tosettlement;May establish, modify, document andcoordinate implementation ofaccounting and accounting controlprocedures;Prepare or assist in preparing taxreturns/advises on taxation problems;May devise and implement manualor computer based system forgeneral accounting;May direct and coordinate activitiesof other accountants and clericalworkers performing accounting andbookeeping tasks;

Basic Educational RequirementMost accountant positions require at

least a bachelor’s degree in accounting ora related field. Professional recognitionthrough licensure by the ProfessionalRegulation Commission (PRC) provides adistinct advantage in the job market.

Skills and Competencies

Aptitude for mathematics;Ability to analyze, compare,andinterpret facts and figures quickly;

Excellent communication skills bothverbally and in writing;Practical knowledge of computers(basic accounting softwarepackages) and their applications inaccounting and internal auditing;Strong interpersonal skills.

Physical Attributes and Characteristics

Have high standards of integrity;Must be good at working withpeople;Can exercise independentjudgement;

Salary/CompensationAccountants employed in Government

offices usually receive a starting salary ofP15,000 while a Chief Accountant normallyhas a monthly take-home pay of P24,000 toP25,000. In medium-sized privatecompanies, an accountant?s salary usuallyranges from P25,000 to P35,000 a month. Inlarge or multi-national companies,accountants usually receive about P50,000to 75,000 a month.

Prospects for Career AdvancementAccountants with adequate academic

preparation may advance to positions withmore responsibility in 1 or 2 years and tosenior positions within another few years assupervisors, managers or partners in anaccounting firm. They may assume theposition of chief accountant, budgetdirector, controller or chief financial officer.Those who excel in their jobs may move toexecutive positions in other fields ofspecialization such as managementaccounting or internal auditing, occupyingtop positions as Vice-President for Financeor as Corporation President.

Employment OpportunitiesThe demand for Accountants will

increase simultaneous with economicgrowth since the number of businessestablishments is expected to increase asthe economy grows. The increase in thenumber of business establishments willrequire more accountants to set up books,prepare taxes, and provide financialadvice. Regardless of specialty,accountants who are duly licensed by theProfessional Regulation Commission shouldhave the best job prospects. Holders of amaster degree in accounting or in businessadministration with specialization inaccounting also will have an advantage.There is not much employment opportunityfor Accountants in the overseas market.

Cost of Education *A four-year accounting in B.S.

Accountancy cost around P17,000 toP35,000 per semester in a private institutionwhile in a government-owned school, thetuition fee is only around P3,000 persemester.

* Based on tuition fee rates for school year 2007 - 2008