China industry spotlight: Accounting
Bean counters, number crunchers… there are many names that accountants are given. However, regardless of the name there’s no doubt in anyone’s mind that accountants play an integral role in every company. There just aren’t any companies without accountants. Accountants get right down to the nitty gritty of the company’s transactions and correctly classify them to settle each account. Every good accountant uses the same basic rules to check their work, for example: assets = liabilities plus equity. If the numbers don’t match or balance, then there’s been some kind of mathematical or typing error and it should be easy enough to spot. Accountants are experts at proofreading numbers and spotting numbers that look out of place. In addition to basic bookkeeping and keeping reports up to-date, accountants handle tax filing and also auditing.
With all of the financial issues and financial scams happening recently, companies are being watched closer than ever and often get audited to ensure their books and finances are in compliance with the law.
China is known for being one of many societies that accepts bribes, which would definitely not be something that could be spotted clearly on the balance sheet under a “bribe” category.
China and many countries definitely have a lot of grey area in terms of money reporting that would be interesting for an accountant to have to deal with. It is in those moments that an accountant becomes more than just a bean counter, you are now a scientist. It’s your job to base your theory of whether the company is right or wrong on the facts. The numbers don’t lie.
Gi2C Group can help you find an accounting internship and learn more about China’s unique culture along the way with an internship in Beijing or an internship in Shanghai. Internships are the perfect opportunity to test different industries and company environments to learn about what type of career best suits you.
- Managing debts & credits
- Preparing ledger reports and financial statements
- Understanding tax rules & regulations
- Providing suggestions about accounting procedures
- Managing the reporting deadline calendar
- Maintains, organizes and archives all task related documents
- Proactively looks for mistakes
Experience and qualifications
Preferably a graduate with a Bachelors in Accounting or an undergraduate currently pursuing a degree in business. Some relevant work experience is useful. A love of numbers and basic math skills are essential.