GENERAL ACCOUNTING PRACTITIONER (GAP):
What is an Accounting Practitioner?
A person who has the requisite skills and experience in establishing and maintaining accurate financial records for an individual or a business. The duties of an accountant may include designing and controlling systems of records, auditing books, and preparing financial statements. An accountant may give tax advice and prepare tax returns.
An Accounting Practitioner renders accounting services for a number of employees, each of whom pays the accountant a fee for services rendered. He or she does more than just bookkeeping but does not generally have all the qualifications of a Chartered Accountant, Certified Public Accountant and Certified General Accountant.
An Accounting Practitioner is one who has passed the necessary exam with the high degree of skill, training, and experience. In addition to passing an accounting examination, a candidate must have the proper business experience, education, and moral character in order to qualify for the license.
The practice of accounting is a highly skilled and technical profession that affects public welfare. All accountants are held to high standards of skill in issuing professional opinions. They can be sued for Malpractice if performance of their duties falls below standards for the profession.
The General Accounting Practitioner (GAP) is a designation for individuals who have met the educational and experience requirements for certification. Professionals with this designation typically work in entry-level positions in office environments and are in charge of maintaining financial records, preparing tax returns and maintaining compliance with relevant laws.
Working with Numbers:
A General Accounting Practitioner must have strong mathematical and analytical skills to be effective. For example, if the practitioner wants to determine a business’ monthly revenue from sales, she needs the mathematical skills to add, multiply or subtract figures, which are often large numbers. Analytical skills come in handy when the accountant has to analyze the company’s financial performance and draw accurate conclusions. Good communication skills are also essential when making presentations in meetings.
Although the day-to-day activities might vary by organization size, a General Accounting Practitioner works with senior professionals to produce a wide variety of reports and financial forecasts. For example, the practitioner can prepare a cash-flow report that details the firm’s outgoing (expenses) and incoming (sales) funds. General Accounting Practitioner also monitor budgets to control expenditure implement financial strategies and perform a variety of banking tasks, such as depositing checks and withdrawing money.
General Accounting Practitioner must stick to the professional code of ethics. For example, they should not engage in any form of fraud, such as altering figures and statements in reports or associating themselves with false accounting information. Engaging in fraud or violating the code of ethics can result in termination and lawsuits. General Accounting Practitioner also ensures companies maintain compliance with tax laws and may advise senior management on legal changes.
Securing the Registration:
Although different professional institutes might have varying qualification requirements for becoming a General Accounting Practitioner, you typically need to earn at least a degree in accounting or a business-related field from an accredited college or university and have one year of work experience. Qualified applicants usually sit for an examination that tests their knowledge on subjects such as taxation and business law, after which successful candidates are issued a certificate. Pursing an advanced degree in accounting enhances your chances of landing higher-level jobs in the field.
If you are interested in becoming the General Accounting Practitioner (GAP), you may send your resume for the assessment to the email@example.com , or contact office or apply online.