Download This Sample
This sample is exclusively for KidsKonnect members!
To download this worksheet, click the button below to signup for free (it only takes a minute) and you'll be brought right back to this page to start the download!
Sign Me Up
Table of Contents
The most common assumption about accountants is that they only deal with numbers and problem solving, but they play a more complex function in a business. Accountants are flexible and can work in various institutions with different tasks and roles.
See the fact file below for more information on Accountant or alternatively, you can download our 27-page Accountant worksheet pack to utilise within the classroom or home environment.
Key Facts & Information
Brief History and Its Definition
- The method of accounting started during the early civilization of ancient Mesopotamia around 7,500 BCE.
- The earliest proof of accounting was seen in the use of clay tablets.
- In ancient times, they started the practice of accounting to keep track of their traded goods and for business purposes.
- People in the wealthy class also wanted to record their assets, liabilities, and the goods or sums owed to them.
- An accountant is a professional who keeps records and interprets the financial transactions of a business.
- They analyze the gains and losses of a business and provide figures and details about the company’s status.
- While an accountant performs any type of accounting function, a CPA or certified public accountant is an accountant who earned a license through a board exam.
Classifications of Accountants
- There are various kinds of accountants, and here are some of the specializations you may take when considering pursuing accountancy:
Certified Public Accountant (CPA)
- These are accountants who took the licensure exam for accountants after completing their bachelor’s degree.
- CPAs can handle various tasks such as tax preparation, auditing, and financial management and planning.
- They can take different roles but may choose to specialize in one area.
Management Accountant
- Management accountants focus on preparing the company budget, assessing profitability, overseeing risk management, and foreseeing cash flows.
- They also advise the management on the financial decisions the company must make.
Auditor
- They check all the financial records of a business and ensure that they comply with financial regulations.
Forensic Accountant
- They deliberately analyze and interpret financial records to ensure they are accurate and free of errors, omissions, and fraud.
- When legal trials arise, forensic accountants can give valuable evidence in the case.
Investment Accountant
- They usually work in brokerages and asset management firms where they help in investment management and give investment advice to various clients.
Financial Advisor
- They give both short and long-term advice to their clients on spending their money and what financial plans they should invest in.
Staff Accountant
- They are known as generalists in the field and do all-around work, such as payroll records, cash management, account reconciliations, and other clerical tasks.
Tax Accountant
- They are experts in handling the taxation transactions of the business.
Tasks and Responsibilities
- Accountants have several different tasks and responsibilities depending on their specialization.
- Here are some of their general duties:
- Prepare and analyze financial data and ensure that they are accurate and follow relatable laws and regulations.
- Prepare the company budget, present data, and give advice regarding the financial forecasts.
- Identify issues, provide solutions, and help in decision-making on the financial status of the client or company.
- Provide advice on risk management, and how the client can avoid losses and maximize profitability.
- Analyze financial performance and prepare tax-related tasks.
Qualifications to Become an Accountant
- There are certain qualifications to acquire before becoming an accountant.
- The first is a bachelor’s degree.
- Taking a bachelor’s degree in accounting will help you earn the fundamental knowledge that will make it easier for you to pursue a career in accounting.
- Lessons to learn the GAAP or Generally Accepted Accounting Principles are offered and courses in areas such as auditing, taxation, and accounting are taken.
- Next, decide whether you want to be an accountant or a licensed accountant.
- Note that all CPAs are accountants, but not all accountants are considered CPAs.
- Choose what to specialize in.
- You may also opt to obtain a master’s in accounting or acquire more certifications and titles.
Skills Needed to Become an Accountant
- Accountants can either be self-employed or work for various companies.
- Despite having to work using different methods, here are some important skills an accountant must possess:
- A foundation in GAAP or Generally Accepted Accounting Principles
- General business knowledge
- Organized and detail-oriented
- Strong analytical and problem-solving skills
- Good written and oral communication skills
- Proficient technology skills
- Good leadership skills
- Adaptable and flexible
- Strong customer service skills
Famous Accountants
- There are a lot of famous accountants who made great contributions to the world, and here are some of them:
Luca Pacioli
- He is known as the Father of Accounting.
Josiah Wedgwood
- He is known as the first cost accountant and the Father of Cost Accounting.
John Pierpont Morgan (JP Morgan)
- He was a former accountant in Wall Street and a famous banker and financier who owned the world-famous bank, JP Morgan.
- They were the founders of the notable accounting firm, KPMG.
William Welch Deloitte
- He was the founder of Deloitte & Touche.
Other Notable Accountants in history
- Reinhard Goerdeler
- Piet Klijnveld
- James Marwick
- William Barclay Peat
Accountant Facts Worksheets
This is a fantastic bundle that includes everything you need to know about Accountants across 27 in-depth pages. These are ready-to-use worksheets that are perfect for teaching about Accountants and talking about the most complex functions of an Accountant in businesses.
Complete List Of Included Worksheets
- Accountant Facts
- What Am I?
- Famous Accountants
- Duties
- As an Accountant…
- My Skills
- Accounting Hunt!
- Problem Solving
- Accountant’s Resume
- A Week of My Expenses
- Behind My Business
Link/cite this page
If you reference any of the content on this page on your own website, please use the code below to cite this page as the original source.
Link will appear as Accountant Facts & Worksheets: https://kidskonnect.com - KidsKonnect, January 20, 2022
Use With Any Curriculum
These worksheets have been specifically designed for use with any international curriculum. You can use these worksheets as-is, or edit them using Google Slides to make them more specific to your own student ability levels and curriculum standards.