The accounting profession is one that is diverse and attractive. Due to this many people seek a career in this profession. So for you who is seeking a career as an accountant there are certain things that need to be looked into. This starts with looking at fundamentals. Hence, the following will help you from having a holistic view on the accounting profession.
In defining terms, an accountant is a certified accountancy and financial expert under the jurisdiction of the respective countries in which they operate. The term accountancy or what accountancy means is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and other decision makers make resource allocation decisions.
Accountants in their profession mainly provide an array of services. However all of those services can be bought down to three main services. They are,
- Auditing a Company
- Assurance and Information Integrity
- Forensic Accounting
Auditing a company – registered accountants can and may perform audits of a company or organization’s accounts. Most of the time, these audits are required by law.
Assurance and Information Integrity – in addition, accountants provide a variety of services that improve and assure the quality of information for business decision making.
Forensic Accounting – within this sector accounting experts offer a range of services. In the legal sector, their main role would be to prevent, detect and investigate financial frauds which are in the form of securities fraud, tax evasion and money laundering schemes. Also, they can provide expert reports for civil cases covering the calculation of loss of earnings, pensions or other financial benefits.
In knowing what basically the accounting profession is, now it’s important to for you to know how to get in to and succeed in an accounting career.
Individuals with an analytical approach and technical expertise of accounting, good mathematical aptitude, knowledge of the technicalities of a business system and those who are well versed with computers.
Basic eligibility is 4 years of college for a professional degree in accounting or a related field.
A Bachelor’s degree with a minor in another subject from an accredited college or university to apply for the Master’s in accounting.
People who have done their course in accounting over the Internet are also eligible for jobs in the accounting industry.
In terms of job, prior experience as a trainee auditor or accountant can also help.
Different courses and licenses require accreditations and licenses of certain organizations. For example, Certified Public Accountants (CPA) should have a license by the State Board of Accountancy (STA).
A certain number of semester hours plus work hours are considered for 4-year bachelor’s degree.
Public accountants are taken as trainees. Management Accountants start as junior internal auditors or cost accountants.
A master’s degree in business administration (MBA) is preferred by many companies.
Types of Accounting Jobs
After a degree in accounting, you can get yourself qualified for a certified public accountant CPA or registered public accountant license. However, even without a license, many do get jobs as auditors or accountants in the public or private sector. In the long run, you could excel to a position like chief financial officer (CFO).
A certified accounting professional could become an auditor, financial officer, management accountant, budget analyst, or tax accountant. If you want to be a Tax accountant, a legal background is preferred.
If you want to work from home or individually, you could prosper if you have a good network of contacts.
There are specializations in accounting; for example, the forensic accounting where the accountant investigates the different crimes breeding on the company’s finances.
Teaching accounting can also be a good career option.