Job profile:
Accountant (m/f/d)
As an accountant, you occupy a key position in companies in all sectors. You are the internal expert for tax and financial issues of all kinds and not only take care of annual financial statements, but also advise management. Their analyses and evaluations form the basis for important strategic decisions, which makes accountants highly sought-after specialists.
In this job profile, you can find out what training as an accountant looks like, what salary prospects you can have in this profession and what the difference is to a financial accountant.
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What is an accountant? Balance sheet accounting explained
Certified accountants are specialists in the field of accounting and are responsible for a company's finances. They take care of keeping and preparing all balance sheets and financial statements for the tax office in an orderly, legally compliant and traceable manner. They have a great responsibility as their work directly affects the financial health and stability of the company.
On the one hand, balance sheet accounting is a sub-area of bookkeeping and yet it combines all other areas in the annual financial statements. The balance sheet accountant is therefore responsible for ensuring that all areas of accounting are correct and available to them at the end of the financial year in order to complete balance sheets and annual financial statements.
In order to be able to fulfill these important tasks, you may only work as an accountant after passing a state examination at the Chamber of Industry and Commerce. In preparation for the written and oral exams, a preparatory course aimed at finance professionals is suitable.
The main tasks of accountants include the preparation of monthly and annual financial statements in companies. They are also contact persons for auditors and always keep an eye on the entire accounting system in order to deliver clean figures.
Accountant salary in Germany: What does an accountant earn?
In Germany, the average salary of an accountant is around €54,000 gross per year.
This makes the job of accountant one of the better paid roles among the financial professions. Earnings also depend on the industry, professional experience and the size of the company. The best salaries for accountants are paid throughout Germany in Baden-Württemberg.
Starting salary as an accountant: Junior accountant salary
Balance sheet accountant tasks: What does an accountant do?
The tasks of management accountants are varied and responsible. Often, accountants work closely with the management level and develop the financial basis for important company decisions by advising and supporting the management in the correct interpretation of the financial statements. They also prepare financial statements and are responsible for correct bookkeeping. Based on the balance sheet, they calculate upcoming tax payments. With increasing experience and depending on the size of the company, you will also have personnel management tasks.
Due to the changes in tax law and the ongoing digitalization, the tasks of accountants have changed more and more in recent years. They have to be prepared for different challenges and always pursue the goal of including all the correct figures in the annual financial statements at the end of the financial year.
Preparation of financial statements: Accountants prepare monthly, quarterly and annual financial statements and balance sheets. These financial statements and balance sheets are essential for the company to understand its financial situation and make informed business decisions.
Analysis and interpretation of balance sheets: Management accountants analyze and interpret the balance sheets prepared. They determine important key figures from the balance sheets, which form the basis for business decisions.
Tax matters: Accountants also handle tax matters. They prepare tax returns and process them on an ongoing basis until they are submitted.
Cooperation with other departments: Accountants work closely with other departments in the company and communicate directly with the management.
Preparation of annual financial statements in accordance with German commercial law or international accounting standards
Reconciliation to balance sheets according to tax law
Preparation of tax returns for sales tax, wage tax, income tax and corporation tax
Cooperation with the auditing department
Organization of all accounting processes including personnel management
Development of strategies together with the management
Preparation of profitability and liquidity plans
Cooperation with banks and investors
Becoming an accountant - training, studies & further education
The profession of accountant is a profession certified under public law, which can only be entered by passing a recognized examination (IHK) after several years of commercial work experience.
The most common way to become an accountant in Germany is through commercial training and subsequent professional experience. Many accountants start their career as tax clerks or industrial clerks and gain valuable practical experience in the field of accounting. After a few years of professional experience, they can then complete further training to become an accountant.
Regardless of which route you choose, you must successfully pass the official IHK examination. Whether you attend a course in balance sheet accounting beforehand is optional, but still recommended. However, commercial work experience is a mandatory prerequisite for taking the exam.
Accountant training (IHK): The practical way
Further training to become an accountant (IHK) is usually part-time and takes around 1.5 to 2 years. It comprises various modules that cover all aspects of balance sheet accounting, including accounting, tax law, cost and performance accounting, business law and operational management.
After completing their training as an accountant, prospective accountants must take an examination at the Chamber of Industry and Commerce (IHK). The exam is demanding and requires thorough preparation, but successfully passing it is an important milestone on the path to becoming an accountant.
Further training to become an accountant is offered in various forms, including distance learning, part-time further training and full-time courses. The average preparation time is between three and 24 months. Regardless of which course you attend, you can take the exam on just two dates per year: The IHK exams take place throughout Germany at the same time in spring and fall.
Studying to become an accountant: The academic career path
An alternative route to becoming an accountant is to study an economics or business administration subject. Such a course offers a broad business education and enables students to specialize in the field of accounting. These usually offer a broad-based business education with a focus on accounting and controlling. After completing their studies and gaining a few years of professional experience, graduates can also complete further training to become an accountant and take the Chamber of Industry and Commerce exam.
Regardless of the path chosen, it is important to emphasize that the accounting profession requires a high level of expertise, accuracy and responsibility. But for those who accept the challenge, it also offers many opportunities and an attractive salary.
What is the Bachelor Professional in Accounting?
Further training for accountants
Although it is not absolutely necessary to undergo further training as an accountant before taking the official IHK examination, it is nevertheless the usual procedure.
In Germany, you have many different options for training to become an accountant. Some of these are:
Certified Management Accountant - Bachelor Professional in Accounting at the DIHK: This further training course is aimed at specialists in controlling and accounting. It prepares them to take on management responsibility for employees and to train junior staff. The degree is equivalent to a university bachelor's degree.
Accountant IHK in 12 weeks - TA Bildungszentrum: This further training enables you to become an accountant IHK full-time in just 12 weeks.
Certified Management Accountant - IHK Academy Munich: This further training course can be completed both full-time and part-time.
Further training to become an accountant at the Steuer-Fachschule Dr. Endriss: You will acquire knowledge in the areas of annual financial statements, cost and performance accounting, financial management and tax law. The course lasts four to 16 months.
KNOWLEDGE IS POWER
Accountant requirement: soft and hard skills
After completing a commercial apprenticeship, you can train to become an accountant. Courses are offered by the Chamber of Industry and Commerce, for example, but you can also take the exam after completing a distance learning course. As you have a lot to do with numbers as an accountant, you should have an affinity for mathematics and accounting. Extensive knowledge of the industry and tax law are also important prerequisites for successful work as an accountant.
Specifically, as an accountant you should fulfill the following requirements:
Excellent economic knowledge in accounting and business administration
Knowledge of tax law
Willingness to learn in order to stay up to date
Familiarity with common accounting and tax software
Organizational skills
Diligence and a sense of responsibility
Confidentiality
Ability to work in a team and leadership qualities
Independent work
The difference between a financial accountant and an accountant
The job titles "balance sheet accountant" and "financial accountant" are often used interchangeably, although they involve different tasks and responsibilities.
A financial accountant specializes in one part of a company's entire operational accounting system. The main task of financial accounting is to record all external business transactions such as expenses and income. The main objective of financial accounting is to document changes in inventory and assets in order to determine the overall result of a company, i.e. profit or loss.
In contrast, balance sheet accounting focuses on the needs of the business rather than compliance with external accounting standards. Balance sheet accounting typically involves a significant number of projections and modeling activities and is often used to assist management in decision making and performance evaluation.
Another important difference between the two professions lies in the training. Only those who have passed the examination at the Chamber of Industry and Commerce are allowed to call themselves accountants. Training to become a financial accountant, on the other hand, is shorter and in many cases a step before becoming an accountant.
Accountant career: opportunities on the job market
Accountants have very good prospects on the job market, both as employees and as freelance consultants. Training as an accountant not only gives you access to jobs in international companies, but is also the basis for training as a tax consultant.
Accountants are in demand in all sectors, so you can specialize according to your preferences. With this training, you can work in the private sector, public administration, organizations, clubs or associations.
The Hays Specialist Index 2024, which examines job advertisements on all common job platforms every year, shows a significant increase in demand for finance staff in Q1 2024.
Hays Skilled Labour Index Accountant
TOP VACANCIES FOR ACCOUNTANTS: JOBS In GERMANY
FAQ
In Germany, accountants earn an average salary of €54,000 gross per year. However, this salary can vary greatly depending on experience, responsibility and employer.
In Germany, accountants earn an average salary of €54,000 gross per year. However, this salary can vary greatly depending on experience, responsibility and employer.
The main tasks of a balance sheet accountant include the annual and monthly financial statements, as well as the correct interpretation and analysis of the figures presented. In this way, the balance sheet accountant also advises the management level on important company decisions.
The main tasks of a balance sheet accountant include the annual and monthly financial statements, as well as the correct interpretation and analysis of the figures presented. In this way, the balance sheet accountant also advises the management level on important company decisions.
According to the German Qualifications Framework (DQR), accountants and business economists are at the same level. Both professions offer excellent career and earning opportunities.
According to the German Qualifications Framework (DQR), accountants and business economists are at the same level. Both professions offer excellent career and earning opportunities.
As an accountant, you have the following important tasks, among others:
- Preparation of financial statements
- Analysis and interpretation of balance sheets
- Tax matters
- Advice for the management level
As an accountant, you have the following important tasks, among others:
- Preparation of financial statements
- Analysis and interpretation of balance sheets
- Tax matters
- Advice for the management level