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.