Private accountant job profile and description

A private accountant is hired by a single employer and he caters to the accounting requirements of only that single employer. The job of a private accountant is in contrast to that of a public accountant who is not bound to a particular company but can freelance to a number of companies.

Private accountant duties and responsibilities

A private accountant takes care of all the financial and accounting requirements of his individual employer ranging from making entries into record books to preparing tax statements. In short, a private accountant performs all the functions of a public accountant but for a single employer. The major duties and responsibilities of a private accountant are:

  • Internal auditing in the company
  • Making entries into record books and keeping records as per company policies
  • Preparing profit loss statements and balance sheets
  • May also have to keep records of property and fixed assets
  • Ensuring that the money inflow, expenses and surplus of the company match
  • May have to play the role of various accounting personnel such as refunds accounting
  • Preparing tax statements and filing returns
  • Keep track of changing tax regulations and implementing them while preparing company returns

Private accountant skills and specifications

The skills and specifications required for the job of a private accountant are:

  • Excellent all-round knowledge on accounting
  • Being familiar with the working of various financial dealings of the company in order to make accounts as per company policies
  • Good communication skills
  • Excellent precision and accuracy in accounting
  • Ability to keep up to date regarding the changing federal laws and regulations

Private accountant education and qualification

The education and qualification required for a private accountant is a bachelor’s degree in accounting. Small companies accept diploma accounts graduates.

Private accountant salary

The salary of a private accountant begins from $27,000. The top range depends on the company in which the accountant works.