For every organisation or business, recording every financial transaction is necessary to know the cash flow. Accounting has an important role in an organisation. Also, accounting is a wide area in business. Choosing a career in accounting is a wise decision.
Opting for a degree in specialisation in accounting will be a great advantage for your career. There are many colleges and universities that offer master’s in accounting. With this degree, you may learn advanced knowledge and skills in accounting theories and practice. An accounting degree brings plenty of job opportunities and qualified candidates are in demand.
Industries That Accountants Can Work
There are different types of ogranizations in various industries that may need a person with a bachelor’s in accounting. All kinds of businesses need accounting experts to prepare and assess their financial records, they ensure that the company’s financial records are correct and that their taxes are accurately and promptly paid.
Some of the industries that accountant can work :
- Accounting, Tax preparation, Bookkeeping, and Payroll
- Employment Services
- Schools, Colleges and Universities
- Architecture and Engineering Companies
- Computer services
- Financial Investment Companies
- Insurance Companies
- Pharmaceutical Companies
- Software Companies
- Executive, Legislative and other Government Agencies
- Hospitals
- Real Estate Agencies
- Scientific Research Companies
As we can see, accountants are needed in almost all industries to help businesses run smoothly. There are diverse career options in accounting.
Career Opportunities With Accounting Degree
Accounting Manager
Accounting managers are responsible for preparing, reviewing and maintaining organization ledgers, overseeing transactions, coordinating budget preparations and processes, and a wide range of other tasks.
They have to be highly educated. Minimum quality required for an accounting manager is bachelor’s degree in accounting, financing, or business but job seekers with master’s degrees may be preferred over other candidates. Other requirements may include certifications such as certified management accountant (CMA), certified public accountant (CPA), or chartered global management accountant (CGMA).
Forensic Accountant
One of the most in-demand career options for accounting and financing graduates. The forensic accountant gives priority to duties like detecting fraud, investigating and analyzing financial information, looking at evidence, and assisting with court hearings. They focus on fraud, scams, embezzlement and identity theft. Most financial services are now through online, the threat of any of these happening has greatly increased. As a forensic accountant, you have to produce audits of records to determine liability, fraud and valuation. You’ll need an investigative mindset and outstanding attention to detail to be successful, but you will have good career opportunities with the potential to earn high salaries that are typically enhanced with additional company perks.
Certified Public Accountant
Certified Public Accountant (CPA) is one of the jobs most people associate with an accounting degree. The key skills of CPA include analysis, reporting, communication, and an understanding of finance law. Their responsibilities include preparing financial records, assessing record accuracy, and ensuring that taxes are paid properly.
Management Accountant
Management accountant is the one of the best careers that an accounting degree holder can go for. The main responsibilities of a management accountant is providing financial information to help companies make important financial decisions.
Financial Manager
Financial manager can be responsible for an organization’s overall financial state. He can be involved in creating financial reports, directing investments, coordinating staff activities, cultivating relationships with clients, evaluating data, and developing strategies to achieve organizational goals. Financial managers can be required to hold a bachelor’s degree in accounting.
Chief Financial Officer
If you are looking for a job with high payroll then Chief Financial Officer is one of the best options. Responsibilities of CFO include tracking cash flow, organizational analysis, and financial planning. CFA can often be responsible for ensuring accuracy, and proper filling of financial reports. To be a CFO candidates may have a minimum bachelor’s degree and related work experience.
Investment Banker
Investment bankers may work in high-level transactions, mergers, acquisitions, and capital raising efforts. They may issue securities, create documentation, and offer recommendations.
To be an investment banker you may need an MBA from accredited institutions and may also need to hold chartered financial analyst (CFA) certification.
Bookkeeper
The responsibility of a bookkeeper is to maintain accurate financial records by tracking income, expenses, overdue accounts, pending invoices and more.
You may need a bachelor’s degree in accounting to be a bookkeeper.
Staff Accountant
As a staff accountant you have to perform some bookkeeping tasks such as creating ledger entries, reconciling accounts and generating financial statements. Also you may assist senior accountants in auditing, processing accounts payable/receivable and recommending improvements to reduce costs. It’s a great entry level program for those with a bachelor’s degree.
As you can see there are more opportunities for those with accounting degrees than being an accountant. There are accounting certifications that you can pursue within the field.
Now you know the wide area of accounting that you can pursue with an accounting degree. As a next step you can go for accounting certifications. Visit Finprov Learning to know more about the career path.
