How to Become an Accountant? A Step-by-Step Guide

How to Become an Accountant: Have you ever wondered how to become an accountant and build a career in this essential profession? Businesses and individuals rely on accountants to manage finances, analyze records, and ensure compliance with financial regulations. With the increasing demand for financial professionals, accounting offers strong job security and career growth.  

To start this journey, you need to understand how to study accounting and choose the right accountant course details after the 12th. A bachelor's degree in accounting or finance is the first step, followed by gaining experience and optional certifications like CPA or CMA. If you're looking for an accounting job, practical skills and industry knowledge are crucial. Let's explore the path ahead!

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Who is an Accountant? 

An accountant is a finance professional who manages and analyzes financial records to ensure accuracy and compliance. They help businesses and individuals track income, expenses, and taxes, enabling informed decisions. If you're wondering how to become an accountant, it starts with the right education and skills.  

Accountants work in various roles, such as tax accountants handling tax filings, investment accountants managing financial portfolios, and chartered accountants providing auditing services. 

They find opportunities in corporations, accounting firms, small businesses, and government agencies. Whether preparing balance sheets or offering financial advice, accountants play a vital role in financial management.

What Do Accountants Do?

If you’re exploring how to become an accountant, it’s important to understand their role. Accountants manage financial records, ensure compliance with tax laws, and help businesses make informed financial decisions. Here are the core responsibilities of an accountant:

• Recording Transactions: Track income, expenses, and financial activities.  

• Financial Statements: Prepare balance sheets, income statements, and cash flow reports.  

• Tax Preparation: File tax returns and ensure timely payments.  

• Budgeting & Cost Analysis: Develop budgets and find ways to reduce expenses.  

• Auditing & Compliance: Verify records and ensure legal compliance.  

• Risk Assessment: Identify financial risks and suggest solutions.  

Understanding what accountants do can help you choose the right career path in accounting.

Steps to Becoming an Accountant

Becoming an accountant involves the right education, training, and job search strategies. Follow these steps to start your career in accounting: 

Step 1: Choose the Right Educational Path

To become an accountant after the 12th, you need to complete a relevant degree or certification. Options include:  

• Bachelor’s Degree – A B.Com (Bachelor of Commerce) in Accounting or Finance is a common choice.  

• Diploma or Certification – Short-term courses in accounting software or taxation can add value.  

• Chartered or Certified Courses – Programs like CA (Chartered Accountant), CMA (Cost and Management Accountant), or CPA (Certified Public Accountant) offer advanced career opportunities.  

Choosing the right accountant course details depends on your career goals.  

Step 2: Study the Core Accounting Subjects  

Understanding accounting principles is crucial. Some main subjects you’ll study include:  

• Financial Accounting  

• Cost Accounting  

• Taxation  

• Auditing  

• Business Law  

• Management Accounting  

If you’re wondering how to study accounting, focus on mastering these subjects through textbooks, online courses, and practical applications.  

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Step 3: Gain Practical Experience  

Hands-on experience is essential for understanding what accountants do in real-world scenarios. You can:  

• Intern with an accounting firm or company.  

• Assist a senior accountant or work under a mentor.  

• Practice using accounting software like Tally, QuickBooks, or SAP.  

Step 4: Get Certified for Better Job Opportunities  

Additional certifications can improve your chances of landing a job. Some recognized ones include:  

•  Certified Management Accountant (CMA)  

• Chartered Accountant (CA)  

• Certified Public Accountant (CPA)  

• Tally, GST, or Taxation certifications  

These credentials make it easier to get an accounting job by increasing your expertise.  

Step 5: Apply for Accounting Jobs

After obtaining the required qualifications and experience, begin applying for job opportunities. To improve your chances:  

• Build a strong resume highlighting your education, certifications, and practical experience.  

• Search for job openings in banks, firms, corporate offices, and government sectors.  

• Use job portals and professional networking platforms like LinkedIn.  

If you’re wondering how to get an accounting job, internships, networking, and certifications can give you a competitive edge.  

Step 6: Continue Learning and Growing 

Accounting standards and tax laws keep changing. Stay updated by:  

• Taking advanced courses or specializations in taxation, auditing, or forensic accounting.  

• Attending workshops, webinars, or professional training programs.  

• Keeping track of new accounting software and financial regulations.  

By continuously upgrading your knowledge, you can progress in your career and explore better opportunities.  

These steps will help you understand how to be an accountant and successfully build a career in the field.

Essential Skills for How to Become an Accountant

If you're wondering how to become an accountant, one of the key steps is to develop the right skills. Accountants need a mix of technical knowledge and soft skills to succeed in their roles. Here's an overview of the essential skills that will help you get an accounting job and build a successful career:

Technical Skills for Accountants

To excel in accounting, a solid understanding of accounting principles and the ability to use various tools and software is essential. Some of the main technical skills include:

• Accounting Principles (GAAP): Understanding Generally Accepted Accounting Principles (GAAP) is crucial for accountants. These guidelines are followed to ensure accurate and consistent financial reporting.

• Financial Statement Preparation and Analysis: Accountants must be able to prepare, analyze, and interpret financial statements like balance sheets, income statements, and cash flow statements.

• Accounting Software: Familiarity with popular accounting software like QuickBooks, Tally ERP, and Microsoft Excel is essential for efficiency in managing financial data.

• Tax Preparation: Knowledge of tax laws and experience in preparing and filing taxes (both individual and corporate) will give you an edge when applying for accounting jobs.

• Auditing: Understanding auditing procedures and standards is important, especially if you're considering roles that involve audits, which are common in large firms.

• Cost Accounting: Knowledge of cost accounting can be especially valuable if you work in manufacturing or industries where cost management is crucial.

• Data Analysis: Accountants need to analyze financial data to identify trends and help make informed decisions. This requires strong analytical abilities and attention to detail.

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Soft Skills for Accountants

In addition to technical expertise, soft skills are just as important. These skills help you communicate effectively and work well with others. Top soft skills include:

• Communication Skills: As an accountant, you must be able to explain complex financial information clearly to clients, managers, or team members. Strong verbal and written communication skills are crucial.

• Analytical Skills: Strong analytical abilities will help you break down complex financial data, identify problems, and propose effective solutions.

• Attention to Detail: Accuracy is a must in accounting. Small errors can lead to big problems, so a keen eye for detail is essential in the profession.

• Problem-Solving: Accountants are often called upon to find solutions to financial challenges. The ability to think critically and solve problems effectively is important.

• Organization and Time Management: Accounting often involves handling multiple tasks or deadlines. Good organizational skills and the ability to manage time effectively will help you stay on top of your workload.

• Ethical Conduct: Ethical behaviour is critical in accounting, as accountants are responsible for handling sensitive financial data. Maintaining integrity and honesty is non-negotiable.

• Teamwork: Accountants often work in teams, whether it's with other accountants or across departments. Being able to collaborate and work effectively with others is an important skill.

Therefore, how to get an accounting job involves much more than just understanding numbers. To build a successful career, you need to focus on both technical and soft skills. Whether you're just starting out or looking to improve your abilities, honing these skills will help you become a strong candidate for any accounting position.

Career Scope and Salary for Accountants

Accountants are in high demand across various industries, including finance, corporate sectors, government agencies, and investment firms. The profession offers diverse career paths, with opportunities to specialize in areas such as auditing, taxation, financial analysis, and cost accounting. 

As you grow in your career, you can advance to senior roles like Chief Financial Officer (CFO) or even become a Chartered Accountant (CA). With the increasing number of businesses in India, the need for skilled accountants continues to rise.

The demand for accountants is projected to grow by 6% from 2023 to 2033, faster than average job growth. Accountants with international certifications like CPA or ACCA are in high demand globally.

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Accountant Salary Overview

Accountants’ salaries vary depending on their experience, role, and location. Here’s an overview of average salaries across different levels:

Note: The salary figures provided are sourced from online platforms and may vary based on factors such as experience, skills, job location, industry demand, and company policies.

Top Recruiters for Accountants

Accountants are hired by both private and public sector companies. Some top recruiters include:

• Ernst & Young

• Mahindra & Mahindra

• Accenture

• Wipro

• Infosys BPM

• Genpact

• Tata Consultancy Services (TCS)

Furthermore, pursuing a career as an accountant opens doors to diverse opportunities with steady demand and competitive salaries. Specializing in areas like taxation, auditing, or financial management can enhance career growth and earning potential.  

Gaining professional certifications such as CA or CPA, along with expertise in accounting software and financial analysis, strengthens job prospects. Continuous skill development and staying updated with industry trends ensure long-term success in the accounting field.

Build Your Accounting and Taxation Skills with PW (PhysicsWallah)

The PW Accounting and Taxation Online Course is a 4-month program developed with PwC India. It covers finance, tax, and accounting concepts with practical training in tools like Zoho Books and Excel. Gain industry knowledge, hands-on experience, and a professional certification. Sign up for the PW Accounting and Taxation Online Course today!

Disclaimer: This is an informational post. PW (PhysicsWallah) does not guarantee job placements or specific career outcomes related to the accounting profession or any job roles discussed in this content.