Case Study On Role Of An Accountant

The majority of accountants in this country come from Indian Subcontinent and South East Asia. The accounting is same all over the world but context changes, software changes and requirement changes. Hence, is there a problem of cultural adjustments?

In today’s environment, a good accountant needs three basic skills:

• Good knowledge of accounting
• Good knowledge of excel or similar tool
• Good knowledge of an accounting software

Most of the new accountants are weak in basic accounting. Whenever you ask them to write books of accounts manually, their limitations are exposed. When I asked one of the accountants to draw a trial balance manually, he failed; but did it quickly in Tally. Hence, I asked if he knows any other software, and the answer was negative.

When a company using software other than Tally hires him, he will be non-performer on day one as he is not conceptually solid and doesn’t know the software. Even if he is smart enough to find his way, he wouldn’t be able to gain expert knowledge of the software on his own and unfortunately no one in the organization or the organization itself is not ready to train him. Since there is no proper training on software or implementation of software, most of the accountants don’t even know what software is capable of.

The other big issue is that the accountants get stuck in the same job for a long time. I find this in slightly bigger organizations or MNCs. For example, they start very early as a receivable accountant and continue there for long time- mainly two reason, better pay and relatively comfortable in the job. Then suddenly a realization comes, that they should look for a change. It’s too late at that time, as his salary is too high and he doesn’t know anything outside receivables.

Another big issue with all accountants is not knowing what their market value is and how to increase their market value. The basic thinking is that if I want to change the job, I should get more salary than what I am getting now, but in-reality they are unaware of the market value of that position. The bigger question is – are you overpaid or underpaid? Most of the accountants don’t know!!