Accounting is the keeping of records of all the financial activities such as income, expenditure, taxation, profit, loss, etc. It has several branches with specialization in different fields. It diverges into auditing, financial, government, and tax, fiduciary, forensic, and cost accounting strata. Owing to this diversion in the field of accounting there is a range of career options available with the individuals belonging to the field of bookkeeping. This article aims to look into all such popular career options that are offered by the bookkeeping discipline. These career options offer decent pay with a decent job in the private or even the public sector.
PROS OF CHOOSING A CAREER IN ACCOUNTING
- Developing understanding in finance
- Vast job market in accounting
- High pay scale
- Highly likely elevations
- Valuable accounting experience
CAREER OPTIONS IN ACCOUNTING
Financial advisors are the professionals who are employed to provide the most feasible financial advice based on a vigilant perception of prevailing circumstances. These decisions are highly critical in nature and play a vital role in the operations of the company. Due to the highly technical nature of decision-making, individuals with proficiency in accounting are preferred for this job.
Public accounting job comprises a set of activities relating to bookkeeping services. There are firms that provide accounting services to others; such firms hire accounting professionals for lending such services. These professionals generally audit financial documents, statements, and reports with the viability perception.
Management accounting involves procurement and processing of vital information and instructing the managerial staff based on this information. The sole purpose of the concerned profession is to manage the financial functioning of the firm in conformation with the best practices adopted worldwide.
The job of an auditor requires the assessment of all the financial operations of the company and checking their compliance with the legally authorized standards. Such auditing involves an examination of receipts, expenditures, profit, losses, sources of incoming capital, and its processing inside the firm. Auditing is done to assess the overall operations of a firm and eliminate any possible malpractice if any persisting within the firm operations.
The job of a tax accountant solely revolves around the taxation regime within the firm. Tax accountants are required to prepare the tax statements, keep a record of all the tax operations and manage the tax adherence of the firm. Accountants work to optimize profits by managing the taxation eloquently.
Forensic accounting deals with the investigation of matters related to misplacement of funds or missing funds. These accountants are employed to work out all the existing and possible loopholes. Professionals with eminent knowledge in the field of accounting generally pursue forensic bookkeeping as a career. It is an engaging and enchanting field of work due to the investigating opportunities that it offers.
Financial planners are the professionals that are hired to work out the plans for the financial functioning of the firm. This job basically involves assessing all the aspects of the financial operations and preparing a plan for a defined period of time, based on their assessment. These plans are well laid out with a high degree of precision and negative chances of errors.
Government accountants are the professionals trusted with the auditing and assessment of financial operations of government bodies. These are hired through a transparent process of selection and are highly skilled professionals in the field of bookkeeping and finance. It aims at holding the government accountable for all its actions.
The company secretary is like an administrative head of the company. This designation requires expertise in legal dimensions, administration, and management of company affairs. It is a highly responsible position and there are rare direct recruitments to this post. Professionals with sound experience in this field are usually elevated to this post.
The cost accounting job is concerned with the production segment. The professionals in this sector are required to assess the production cost and the resilience of the methods of production. In order to perform such invigilating operations, professionals with high knowledge in the production and associated fields are employed by the firms. Cost accounting ensures cost minimization and revenue maximization.
Presently accounting careers are the most popular careers opted by individuals. bookkeeping professionals are perceived to be the happiest and most satisfied professionals across the job market. This high rate of satisfaction is due to feasible working conditions and the high pay scale that are associated with the accounting business. The career options discussed above are amongst the most preferred accounting careers. The reason behind such popularity is the top slot that they occupy in the financial sector job market.