Opting for a career is an intricate task, and selecting a new one can be even more difficult. For a lot of people, the toughest part may be searching for a field that genuinely arouses their interest. But for others, deciding between multiple careers might be a challenging task and equally tempting as well.
Thus, while choosing any career, it’s essential to stay updated with the latest knowledge of the most steady jobs as well as skills. You need to be familiar with exactly what the companies are hunting for as well as the job environment.
A career in accounting implies a chance to work within almost any industry that you can think of. The salaries differ as per the level of education, specialisations as well as certifications, but in most cases, accountants are well paid.
There is no doubt a rapid growth in the field of accounting, and now is a brilliant time to start planning for your career in the same. The role of an accountant is highly collaborative and team-based; he or she must be well-competent to work well with others, and his or her job role is quite critical, particularly in a corporate environment.
At a step when you are going to finish with your graduation in accounting or just done with it, the first and foremost thing that triggers your mind is – What should I do now? Read more to browse various career options that can be pursued after completing your graduation in accounting.
#1 – Accounting and Auditing
This is the most appropriate and preferred job opportunity for accounting graduates (mostly freshers). It means working on different levels such as a junior or a senior accountant, account executive, as well as accounts manager.
Being an accounts student equipped with an overall knowledge of the accounting system, accounts graduates can work efficiently in all the relevant areas. The accounts manager also plays a key role to check the internal accounting guidelines and everything about the internal control procedure of business and might perform some routine auditing in the power of an internal auditor, who will help the Statutory Auditors in finishing off their tax audit, statutory audit, as well as cost audit shortly.
The big organizations such as United Way Worldwide, Task Force for Global Health, Feeding America, Salvation Army, YMCA, are all the time searching for well-competent accounting graduates for their firms.
#2 – Finance Services
Nowadays, one of the central parts of the accounting stream is FINANCE. Thus similar kind of jobs is believed to have an edge in the industry, where they can be allotted in a few private finance organisations, in order to sell the diverse financial products of the organizational group and direct their clients each day. Accounting graduates may attain jobs based on their experience levels.
#3 – Insurance Services
The insurance sector is one of the most conventional financial service segments who hire accounting graduates for positions such as Insurance Representatives, Product Development Managers, Relationship Officers, and others.
The Government sustainably develops proposals for promoting the significance of insurance within the general public and also provides an exemption on taxes on different insurance products.
The role of insurance organizations is to train such graduates for selling and promoting their business and products such as health insurance, medical insurance, vehicle insurance, and many more. For example, LIC is one of the oldest government agency rendering insurance services.
#4 – Tax Advisory Services
After finishing graduation in accounting and attaining necessary advanced knowledge in direct as well as indirect taxes, jobs can begin with the Tax Consultancy Organizations of their own, who would lead and direct the diverse forms of taxpayers for paying and calculating their statutory taxes and files on monthly, quarterly, semi-yearly or yearly basis with special Government Organizations such as Income Tax Department, Excise and Customs Department, Ministry Of Corporate Affairs as well as GST Department.
This is an outstanding chance for the accounting graduates to offer additional customized tax services in the society together with earning a handsome capital. The requirement for such small tax advisory organizations is augmented after the execution of GST, which needs well-timed payment of the GST taxes and filing returns thereof.
#5 – International and Commercial Banking
As there is an increased demand of international banking all around, the demand of accounting graduates is also rising in the country. The topmost Investment Banks, for instance, J. P Morgan & Co. hires such graduates in order to handle their entry-level jobs, and generally offer the profiles of Associates, Research Analyst, Billing Executive, Junior Analyst, and much more.
These banks are in a hunt for highly skillful and bright students and obviously with good communication and other skills. This is undoubtedly a very dynamic career to walk around and also pays higher salaries to their people in comparison to other career areas.
Also, there is a need for accounting graduates in the Commercial Banking segment. The banks such as the public, private and co-operative banks all demand an accounting graduate for improving their service areas throughout their branches present in diverse cities. They pay such graduates for diverse types of profiles such as accountant, cashier, probationary officers, relationship managers, clerks, customer support, and reports.
Thus, craft your career with one of the highest paid accounting jobs that can be only yours. And it is a fact that auditors and accountants will get employed with a projected rise to 11% from now until 2024, disclosing a high demand for accountants across the various job employments. If you are thinking about ways to inflate your professional prospects, pave your career path towards the field of accounting sector. Hoping that you must have found this information supportive for pursuing your career as an Accounting graduate!
The best jobs that accountants can get in the business world
It goes without saying that people looking to get job as accountants, need to have some really solid skills at solving mathematical problems. In the present times, accounting can be termed as a combination of problem solving as well as analysis. Accountants are no more restricted to working from benches. These people need to communicate and deal with people and not only numbers. The demand for different auditors as well as accountants, are slated to grow by a great deal in the days to come. There are many facets of accounting profession today that people should know.
Daily accountant job
Different accountants as well as auditors, work for particular clients as well as big companies. The idea is to ensure that companies run in a very efficient manner. Records are also needed to be kept clean along with ensuring proper payment of taxes. Sometimes accountants are also asked to analyze budgets as well as aid in financial planning. Accountants are also making foray into fields of consulting as well as IT industries.
Jobs of management accountants require them working in teams. Company executives are provided with different information as well as analysis since they have to make decisions regarding functioning of that company. All these information is also used by executives in order to prepare analysis reports. Financial reports prepared by this manner are often distributed to different people, like distributors as well as shareholders of the company. Different financial regulating companies also view these reports and prevent any irregularity that may take place in the company.
Accountants for governments
Even agencies run by the government require accountants and auditors for proper functioning. Governments at all levels, such as Federal, local employ accountants. They keep books for government agencies and audit businesses. Different businesses as well as individuals, who need to pay tax and conform by government regulations, are identified by these accountants and auditors. Accountants, who are working for Federal agencies, can also be employed by IRS. Such accountants are of course responsible for performing audits on different government organizations. These people ensure that all financial objectives are being met.
Public accountants can be employed at many different organizations; these accountants provide their services for governments as well as individuals. Services include tax accounting as well as auditing. Many public accountants are also known as CPA or Certified Public Accountants. These people often keep their focus on services such as preparation of taxes for individuals as well as businesses. Financial statements are also audited to perfection by these individuals.
Internal auditors in a company work in a manner very similar to detectives. The internal controls that make a company work are often checked by these internal auditors. These people are literally trained to sniff out problems and prevent all kinds of inaccuracies from occurring. Different forms of frauds and mismanagement is also prevented by these internal auditors. The jobs that you will get in accounting sector are regular 9 to 5 jobs usually. Although it is well known that accountants work long during peak busy periods such as times of taxations. A major part of accountants, usually work for preparation of taxes as well as bookkeeping at financial firms. There are many self-employed accountants too.
New accounting careers
In present times, different new career paths for accountants have also emerged in the market. There are many interesting and exciting options open for accountants. People engaged in forensic accounting; usually unravel different kinds of financial frauds. Different offenders can be put behind bars in a matter of days, once the forensic accountant get a whiff of their activities. Companies are usually known to lose millions of dollars to frauds. Hence demand for this kind of forensic accountants is quite high. One can always go through cases of high profile financial frauds on the internet.
The different movements for a better environment are seen to occur almost every day at present. These movements are growing in size and therefore environmental accountants are called forth for analyzing costs associated with prevention of pollution. The cost of manufacturing different alternatives and then comparing with others is the job of an accountant. Different fines that are to be charged from companies not following regulations are also calculated by accountants.
Accounting in show business
The different media houses and studios are not all glamour and film stars. Very large sums of money are transacted daily through these places. The accounts for these businesses are also required to be maintained carefully. Therefore, financial services are provided to different studios as well as artists. A touch of glamor definitely gets added to the accountant’s job, once you are working here. Different traditional way of doing audit, calculating taxes is done by accountants here also. Financial analysis of the business done during a year by a media house requires many calculations.
The Department of Justice in the U.S. often appoints accountants in different court proceedings involving bankruptcy. These accountants are usually appointed to represent creditors. For example, shareholders of a corporation can be termed as creditors. The accountants ensure that these people get portions of the liquidation of the corporate houses. Different chapters about corporate bankruptcy are available on the internet for accountants to study and know more.
Looking into different accounting practices
Financial statements of a company are prepared with the help of financial accountants. Different illegal activities get unmasked very easily with the help of probing eyes of forensic accountants. Taxes are paid by individuals as well as big companies, tax obligation, and are limited with the help of accountants. Use of external auditing, makes accountants review different financial statements and prepare them properly. Very experienced accountants are usually seen to climb into top management positions.
Eoforhild Heathe is an expert author and academic. She has done her MBA from University of California and is very experienced in the sector of accounting. She is known to give her students perfect advice regarding choosing careers in finance and accounting. She has more than 6 years of experience in this field. Now she is an online tutor at 24×7 assignment help.com.