The career you will choose can affect your life in a lot of ways. Your career can make or break your ability to live a comfortable life in the future. If you choose a career that allows you to pursue your passion, it will be very easy for you to excel and climb the professional ladder. This can result in better financial stability and improved quality of life. This is one of the most obvious reasons why you should exert extra time and effort in deciding your career path.
If you’re still clueless on what career path to take in the near future, consider honing skills that will help you secure a job in the accounting industry. You should definitely do some research in order to learn more about this career because you will be surprised at how many benefits you can actually get from this career.
Are you good with numbers? Do you think you have a strong head for business? If so, you may want to consider a career in accounting. Accounting is so much more than simply keeping the books – it is one of the most important functions in any well-run business, and the opportunities for people with accounting degrees are almost unlimited. Know more about launching career in accounting in this post.
A career as an accountant or an auditor features as the second best job to have with a bachelors degree, as estimated by a study conducted by EMSI and Careerbuilder.
With an accounting degree or experience you can work with any large or small, public or private company. Economic slump or not, most companies do not cut back on hiring accountants.
Career Paths on an Accounting Degree
There are many different types of accounting careers. For example, you might want to work for a large accounting firm such as Ernst & Young, where you will not only have the opportunity to work on accounting audits of other big companies, you will also be able to do consultancy work. This helps companies to streamline their financial operations and become more profitable. There is nothing more gratifying than working with a client to put your ideas into practice, and then seeing the results.
Alternatively, you may want to work as a company accountant. Here, you will have the opportunity to grow your career to become part of a successful management team – for example, you could end up being the Chief Financial Officer of the company. This role is vital – not only will you be involved in day-to-day activities such as managing cash flow, you will also play a direct part in making investment decisions, and controlling how budgets are allocated and spent. You may also be called on to develop business cases, as well as raising capital for business expansion.
Here are some job descriptions and expectations to research for such positions:
(Job expectations may differ from each company, those highlighted here are generic and usually expected)
- Management Accountant – You will be expected to manage all aspects of the company’s daily book keeping and company accounts. This may include processing of all payments and receipts to posting employee expenses and wages on their payroll management systems.
- Financial Accountant – You might be required to deal with specific accounting transactions and issues and ensure properly reflected in ledger systems. Participate in the complete audit process and prepare financial reports.
- Group Accountant – You would be expected to produce the Group’s annual and interim statutory external financial reporting requirements, review and understanding of the Annual report and other reporting activities.
- Reporting Analyst – Support the Reporting & Controlling Manager for carious reporting activities and reviews. Consolidate and analyze customer profit contribution, account margin simulation and price tracking.
- Financial Controller – Preparation of monthly management accounts, annual financial budgets and monthly flexed budgets. Managing payroll processing and participation in audits.
Government Accountant Jobs
There are also many good career opportunities for accountants in government. For example, if you want to work for the federal government and have an accounting degree Washington DC can offer you many different options. You could work for the Internal Revenue Service, making sure that companies and individuals pay their taxes. You could also work for the FBI, and get involved in fighting cybercrime – helping prosecutors follow the trail of financial evidence in major fraud cases, or even tracking down the funding targets for terrorists.
Working as an accountant in a private company or government organization comes with pros and cons. If working as an accountant has been your dream job ever since you were young, spend some time to look at the bigger picture and assess the pros and cons of the different accounting careers. This is an important step before diving into the accounting industry because this information can help manage your expectations and determine which among these accounting careers fit your skills.
Ideal Skill-set for an Accountant
The skills and experience expected for accounting jobs may differ for different companies, here are some general expectations when applying for a reputed form or a large organization:
- The ideal candidate must be a graduate and potentially studying for a recognized accountancy qualification
- Must be competent at computer skills – Strong MS Excel skills are generally expected
- Great communicator with excellent communication skills -yes soft skills matter – a lot!
Salary Range for an Accountant
Advantages of a Degree in Accounting
One of the things that is most attractive about a career in accounting is that the skills you learn and the experience you gain are transferable. You are not tied to a single company or industry – while working in a particular sector will give you a deep insight into that area, the core skills you have are in demand across the entire economy. This means that you have the ability to follow an interesting and varied career, and to pursue new opportunities rather than being locked into a particular job.
Accounting can also be a springboard for your career. You may start out as an accountant, but you will have the ability to move into many other disciplines if you want to do so. While the most direct career route is to focus on becoming a CFO, many other senior managers and executives have an accounting background – including CEOs and even top sales executives. There is literally no limit to what you can accomplish.
In this short YouTube video you will top 10 advantages of an accounting degree:
Working in the accounting industry can become your ticket to improve the quality of your life, which is why you should start to hone skills that are necessary for the industry. Depending on your preferences, you can use different online retargets or sign up for formal classes. You can also pay for one-on-one tutorial sessions with individuals who are in-depth in the accounting industry.
Regardless, all of these avenues will help you move closer to becoming one of the most successful professionals in the accounting industry!