Portfolio Project Part 5 - Essay Example

Nonetheless, the general requirements of this job description include certification of an accountant by a professional accountant agency especially after the person training for the same has attained the basic college accounting and finance degree (Mason and Tarling, 2009). Despite the underlying specifications and different requirements, all accountants must be having fundamental principles including strong analytical and mathematics skills as well as vast accounting education. Hence, the first step to train an accountant is for them to attend basic college courses that provide them with basic accounting concepts.

Accountants working for the small firms are usually responsible for keeping all books and financial records. Some of the records that are handled in the small firms include counts payable, payroll information, retail sales, account receivables, and the company investment information. This information is usually organized and kept in ledger form (Fulford, 2000). They must be updated so that they reflect the financial health of the organization at all times. . ached training will help the training accountant to understand and know importance of keeping company secrets especially financial secrets (Bragg and Roehl-Anderson, 2011).

The training acquired in small firms will help the training accountant to improve in his accounting management skills and can apply the same in large firms as an accountant. The training accountant should know that there are slight differences in handling financial records of different firms, different in size. The accountants working in the large firms usually conduct internal audits to ascertain the accuracy of the company’s financial records. Notably, the larger firms usually have same degrees of biasness; thus, the accountants who handle such company financial materials regularly never handle such company audits.

In this case, the company usually or it is advisable for the company to contract an outside accountant to audit such company material. This will reduce or eradicate the conflict of interest (Fulford, 2000). Therefore, with different financial needs of different companies, the training accountant will be trained in different firms to have knowledge on how to handle different firms depending on size and financial needs. Other than the general roles of accountants, accountants usually tend to specialize within particular fields.

In other words, accounting profession is vast and needs specialization. An accountant may decide to specialize in line with book keeping, taxation, or auditing (ACCA…, 2007). However, in most cases, some accountants usually venture in wide and different accounting fields in order to have vast and varied skills in managing accounting problems such accountant with varied skills and knowledge to serve their clients successfully and satisfactorily in different