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There is more than one career option in the field of property management. One of them is that of a property accountant. More and more candidates are showing interest in venturing into a career in property management. One of the important reasons behind this is that the industry is booming which is why professionals are getting well-paid. There is a promising compensation package for entry-level candidates as well. Therefore, choosing a career as a property accountant is a good decision considering the positive things. However, you should make the selection only if you are interested in this career and not because it pays well. Let us start with the job description of a property accountant by acquainting you with the tasks you have to fulfil. Responsibilities · Recording financial information · Handling functions related to cash management · Preparing annual audit · Talking with clients to listen to their queries and answer them · Preparing client reports on monthly, quarterly and annual basis · Preparing financial statements (quarterly) · Preparing cash flow statements · Identifying and recording company-owned/leased property · Carrying out inventories periodically to update records and ensure proper maintenance of property · Recording detailed information about each property · Developing and maintaining budgeting databases Education A bachelor’s degree in finance and accounting is what the employers of property accountants require from aspiring property accountants. An advanced degree will help you to increase your proficiency level. You should possess a good base of knowledge in the following · Variance analysis · Cost benefit analysis · Tax laws · Statistical cost estimation · Accounting terminology Being well-versed in using accounting software and spreadsheet software is also an advantage. Skills A whole lot of skills are necessary to become a successful property accountant. They are listed in the following: · Accounting skills · Business capabilities · Mathematical skills · People skills · Judgement skills · Problem-solving skills · Decision-making ability · Reasoning ability · Technical proficiency · Client-management skills · Presentation skills · An eye for detail · Ability to meet deadlines This job involves a great deal of interaction with people. That is why, this is not an apt career choice for those devoid of strong communication skills. Experience Having four to five years of experience in private or public accounting will keep you ahead of others. Years of accounting experience in the real estate industry are preferred by most employers of property accountants. Working conditions Property accountants work in an office setting. They are required to travel for client meetings. Working hours are a standard 40-hour per week. Working extensively is not an exception in a career of a property accountant for fulfilling deadlines. Salary and Employers The average annual salary of a property accountant is around £47,000. Bonuses are also given to such professionals on the basis of the performance. As a property accountant, you may find employment opportunities in government agencies and public accounting firms. You may also seek self-employment after gaining considerable years of experience. The above discussion may arm you with the knowledge of what is involved in the job description of a property accountant. Author Bio: Lisa Anderson is a recruitment counsellor. She is also a freelance writer who writes on various topics like estate agency jobs, property management jobs, and career in facilities management and so on. She takes inspiration from Deverell Smithwhile writing on these topics. Summary Before embarking on a career, it is important to be familiar with the essentials like the requirements and responsibilities. This article will make you familiar with these.
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