Are you wondering the jobs for industrial Accountants ? You can only get the job of industrial accountant , if you will deserve for this , if you are not deserve for this you can not become Industrial accountant . Now , one question may arise in your mind , how can I become perfect for Industrial accountant ? What are the main pin points which I should know ? For solving your mind's questions relating to this , I am trying to provide some tips for becoming the perfect in Industrial accounting jobs .
You must now the complete definition of Industry . Industry means group of factories and plants . So , it means , its accounting will be relating to production of goods . So , accounting relating to inventory management will be the necessary part of this accounting , so you should be prepare for inventory management accounting . I can tell you little about this , you have to record all raw material of different quantity , you have to record physical quantity of goods , you have to record consumption of goods for production , you have to record production of finished goods and you have to record closing stock of goods both quantity and Value and more from above work .
It may be possible that your employer appoint you to sale department , so you must also know fully sale tax and Value added Tax's accounting treatment . How can fill the return and how can assess Value added tax and how can record this in the accounting books are the general questions , whose answer not only theory but also practical must require for becoming perfect in Industrial accounting .
Today , Industry is converting from physical production to service sector , One of best example , you can take from my work , I am operating a website which giving you services about latest updates in accounting but this is not physical product and in consideration , I earn from advertising . So there are large number of Industries growing , day by day and they need accountants for recording their transactions , even sometime after , I will need an accountant for SVOPI , So for this you must know how to assess service tax and how to make service tax return and how to record these transaction in books are general question whose answers must be in your brain pocket . For example if , my web-publishing service earning , if more than Rs. 600000 , I will also pay service tax , so my accountant will have to perform these duties , for this he must know very well about service tax law and practical work relating to this .
In any factory or plan , you surely look large number of employees , so records relating to provident fund , how to calculate Employee's provident fund , how to deposit its Challans and what effect its in income tax return filling , how to calculate salaries , how to prepare the salary sheet these are basic question whose answer should be given by you .
Sometime your duty may be on billing , So you must also understand excise billing , VAT billing .
Last but not least , Excise duty , Tds and Advance tax matter must be solve from your side
I tried to give very few but very important tips in this small article after request of some online visitors who want to know special tips relating to Industrial Accounting .
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