Why Choose A Career In Accounting ?

Accounting is a great career that offers many benefits. In fact, accounting is in high demand just like other professional careers in other industries such as health care and electronics. Accounting offers many job options and some great opportunities to work, such as major corporations and the government. We will go over some of the major key benefits and show you why so many people are choosing a career in accounting.

One of the biggest key benefits that you can obtain form accounting is the experience you can gain from working in the accounting field.  With  accounting, you  learn how businesses work and operate in a ever evolving field. This is very important experience that you can gain, that will not only help you in the field of accounting, but this experience will also help you know how to organize and run your own business. It is a fact that many successful business people in the world today, were at one time involved in the field of accounting. The knowledge they gained form accounting helped them build their own professional establishment. Even if you eventually leave a career in accounting to pursue a career somewhere else, your experiences from accounting will still become useful and beneficial.

The skills required in accounting are not high except in two areas being, analytical and computer skills. When compared to many of the different professional careers out there, almost any skill requires you to have some type of attention to detail as well as computer technology skills.  However,  accounting differs from the rest in other areas. In accounting you do not have to socialize with many people, you work in a self pressure environment only, and you do not need a high amount of initiative. This separates accounting from many other different professions, making accounting a much easier career to develop the necessary skills to become an accountant. The best feature of a career in accounting, is that anyone can learn to become an accountant. There are no specific skills or talents that cannot be learned and developed in the field of accounting.

The other major benefit of a career in accounting is the great pay. In fact, in your first year of accounting you can make as much as fifty-five thousand dollars a year. Within ten years or less of your career in accounting, you should be making over six figures. This can be obtained quicker by furthering your degree in accounting which you can reach as high as an MBA.  There are many careers that take much longer to receive accreditation for that do not allow you to earn that type of income so quickly. Along with all the other benefits of accounting, it is no surprise that accounting is a very popular field that many people are working to get into.

You can see for yourself that accounting has many professional and career benefits that are appealing to anyone. From being able to work in a professional setting either for a large corporation, the government or yourself, accounting offers some key features and benefits that cnanot be found in other professional careers. 

Types of Accountancy Career

Now that you’ve taken up a course in accountancy, you probably know that there are various types of careers in accountancy waiting for you after you’ve graduated. If you pass the CPA examination, you will have higher chances in securing a position as a professional accountant.

Accounting in itself is considered an art. In involves analysis and interpretation of financial data. Do you believe that individuals and businesses need accounting one way or another? Aside from business establishments, individuals also make use of accounting in their everyday life. For instance, when you compute or evaluate your expenses, income, and other financial information, that is already considered accounting. Accounting is very important and because of that, it is considered an indispensible business tool. Big and small businesses, as well as individuals, need accounting.

Accounting is of several types and therefore, when you decide to look for an accountancy career in the future, you will notice that there also several types of accountancy careers available.

To start with, you can become an industrial or private accountant. Here, accounting is limited to only one firm. If you choose this profession, you will only be serving one employer. You have to provide your best service and skills to your employer and in turn, the employer will remunerate you.

The second accountancy career that you may be able to land is serving as a public accountant. If you’re already a CPA, you can serve the general public. You will be called a public accountant once there is already the so-called practitioner-client connection or relationship. Even those accountants who are not yet certified can already practice their profession. Oftentimes, CPAs join partnerships and they have a wide scope of clientele from the local area to the national and even international clients at times.

Being a government accountant is another career. In this profession, you will be working for the government, whether local, state, or federal. The accounting methods used conventionally are also used in government accounting. You will make use of the method called double-entry systems and you will be using journals as well as ledgers. If you’re a government accountant, you will be focusing more in rendering service. Government units are not very particular with profits because they are put up to serve the public.

Fiduciary accounting is another type of accountancy careers. Here, accounting relies on trust. Executors, administrators, trustees, or any other person who is trustworthy can do fiduciary accounting. A fiduciary accountant keeps important records and he also prepares certain reports. The courts can authorize these fiduciary accountants to carry out their tasks.

The last is being a national income accountant. This type of career makes use of the social and economic concepts and not the concept of business entity. As a national income accountant, it is your task to provide a public estimate of the yearly purchasing power of a nation.

Now you know the different types of career in accountancy. To sum it all up, the five types are as follows: industrial or public accounting, public accounting, government accounting, fiduciary, and national income accounting. So, which of these five careers will you specialize in? You have to choose wisely because your future career will depend on it. While you’re still studying, you can already determine which career path to take.

Plan ahead because by doing so, you can reach all your goals in life.