Are Accountants in demand in Canada
In this article, we would provide an answer to the question ‘are accountants in demand in Canada. Before then, it is important to know who an accountant is and what he or she does.
Who is an Accountant
An accountant is a professional who performs accounting functions such as financial statement analysis, auditing, and account analysis. In simple terms, an accountant is a practitioner of accounting or accountancy.
An accountant is a financial professional who manage financial accounts whether private or public. They are financial professionals that helps organizations or businesses make critical financial decisions by collecting, managing, tracking, and auditing the organization’s financial records.
Tasks of an Accountant
According to Resources for Employers, some of the tasks of an accountants are as follows;
- They manage all accounting transactions
- Publish financial statements in time
- Prepare budget forecast
- Handle monthly, quarterly and annual closings
- Reconcile accounts payable and receivable
- Ensure timely bank payments
- Compute taxes and prepare tax returns
- Manage balance sheets and profit/loss statements
- Report on the company’s financial health and liquidity
- Audit financial transactions and documents
- Reinforce financial data confidentiality and conduct database backups when necessary
- Comply with financial policies and regulations
Where do Accountants work in Canada
Accountants are needed in any establishment in any sector. This is because almost all establishments make financial transactions. Therefore accountants have a wide-range of employers across different fields.
Are Accountants in demand in Canada
There is no doubt that Canada is a land of great employment opportunities. Especially at this time where there is a great need of more workforce in the labour market. According to the Canada’s Job Bank, financial auditors and accountants, over the period 2022-2031, new job openings (arising from expansion demand and replacement demand) are expected to total 88,000 , while 79,800 new job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill them.
We can say that the demand for accountants in Canada. According to Canada Job Bank, the demand for qualified accountants would increase through 2028, keeping up with the supply.
Salary of a Accountants in Canada
According to the Labour Force Survey, accountants in Canada can earn as low as $23 per hour and as high as $62.50. On average, accountants in Canada make up to $38.46
Top Areas in Canada where Accountants make the Highest Wages
Here are top areas in Canada that accountants earn the most in Canada
- Northwest Territories
- Alberta
- British Columbia
- Newfoundland and Labrador
- Ontario
- Saskatchewan
Conclusion
We have come to the end of this article:’are accountants in demand in Canada?’. Let’s know your thoughts in the comment section below.