Job profile:
Accountant (m/f/d)
As an accountant, you occupy a crucial 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 the training and examination for accountants in Austria 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
Accountants are accounting specialists. They are the internal specialists in their company when it comes to tax and financial issues. By keeping a constant eye on the financial situation, they can provide management with well-founded analyses and evaluations in order to make important decisions together. They bear a great deal of responsibility, as their work directly influences the financial health and stability of the company.
The demand for accountants is high and they are sought after in all sectors. Accordingly, passing the final examination of the training offers a wide range of prospects and the opportunity for career advancement. Possible jobs are offered by companies in the private sector, public administration or clubs and associations.
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. Balance sheet accounting is therefore responsible for ensuring that all areas of accounting are correct and available on time 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 practice the profession of accountant as a freelancer after passing a state examination before the accounting authority of the Austrian Chamber of Commerce. In preparation for the written and oral exams, a preparatory course aimed at specialists from the commercial sector is suitable. As an accountant, you are subject to the Accounting Act (BibuG).
The main tasks of accountants include the preparation of monthly and annual financial statements in companies. They are also the contact persons for auditing and always keep an eye on the entire accounting system in order to deliver clean figures.
Accountant salary in Austria: What does an accountant earn?
In Austria, the average salary for accountants is around €51,000 gross per year.
As in many professions, the salary of an accountant is highly dependent on the respective place of work, professional experience and previous career path. In this profession, however, the size of the company influences the salary the most.
Starting salary as an accountant: Junior accountant salary
Balance sheet accountant tasks: What does an accountant do?
Accountants have various, diverse tasks in the finance departments of companies. They often work closely with the management level and develop the financial basis for company decisions. They form the interface between accounting and management.
Accountants are also responsible for preparing quarterly and annual financial statements as well as bookkeeping. They often act as contact persons for tax consultancy and auditing, which is why they also need a sound knowledge of tax law.
Due to the changes in tax law and the ongoing digitalization, the tasks of accountants have changed more and more in recent years. They must be prepared for different challenges and always pursue the goal of including all 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: 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 in Austria
The basis for a job as an accountant in Austria is an apprenticeship or degree with a commercial focus. Building on this, interested parties can complete a course to become an accountant. This is a course with a duration of approx. 8 - 10 months.
Many accountants start their career as tax officers or accountants 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 examination before the accounting authority in order to perform self-employed in this profession . 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 and examination: The practical route
Training to become an accountant in Austria is regulated by the Austrian Accounting Act (BibuG). After a comprehensive written and oral examination, accountants are publicly appointed by the accounting authority. They are obliged to exercise their profession conscientiously, carefully and independently.
Further training to become an accountant is usually part-time and takes around 1.5 to 2 years. It comprises various modules that cover all aspects of accounting, including accounting, tax law, cost and performance accounting, business law and operational management.
After completing the Bilanzbuchhalter:in training, the prospective Bilanzbuchhalter:innen must take an exam. 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. An important prerequisite for taking the exam is at least three years of relevant professional experience.
Accountant studies: The academic career
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 IHK exam.
Regardless of the path chosen, it is important to emphasize that the accounting profession requires a high level of expertise, accuracy and a sense of responsibility. But for those who accept this 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 mandatory to undergo further training before taking the official exam, it is still the usual procedure.
In Austria, you have many different options for completing further training to become an accountant. Some of these are
Online training to become a certified accountant - Zentrum für Wirtschaftsberufe
Balance sheet accounting training - wifi Austria
Diploma course in accounting - bfi
Accountant Prerequisites: Soft and hard skills
Since the field of balance sheet accounting works almost exclusively with numbers, experts in financial accounting should have an affinity for mathematics and accounting. Extensive knowledge of the industry in which the respective company operates and of 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 a part of a company's overall operational accounting. 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.
Accountant careers: opportunities on the job market in Austria
Accountants have very good prospects on the job market, both as employees and freelancers. Training as an accountant not only gives you access to jobs in international companies, but also forms 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, associations or federations.
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-Specialists-index-Accountant
Top vacancies for accountants: Jobs throughout Austria
FAQ
In Austria, accountants earn an average salary of € 54,000 gross per year. However, this salary can vary greatly depending on experience, responsibility and employer.
In Austria, 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 an 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 an 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