recording, analysis, and reportingAccounting Career Path
What Can I Do With A Accounting Degree? Anything! The beauty of a accounting career path is that you can work in just about any industry.
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Step Into Entry Level Accounting Jobs
Basically, accounting involves recording, analysis, and reporting of the financial transactions within a business.
Why Choose a Career in Accounting?
Accountants can work in a number of areas. It’s possible for them to work in the public or private sector, for the government or for large or small businesses. They may even work at an individual level. Some accountants will specialize in a unique area like environmental accounting.
This involves analyzing the environmental impacts of business, such as the financial damage from ecological disasters.
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How To Work In Accounting
Becoming an accountant requires formal certification and a commitment to learning the trade. It will be up to you to figure out whether you’re better off working for an organization or going it alone.
Get the right degree/qualifications – a business degree is perfect for those who want to work in accounting. Most accountants earn a bachelor’s degree. A bachelor’s degree in accounting or a related field is considered the minimum education requirement for those who plan to become a CPA. Some states will even want advanced coursework beyond the normal bachelor’s degree in subjects such as financial reporting, taxes, auditing and other non- accounting business areas.
Pick Your Specialty – all accountants usually specialize in one or more areas of practice. This could be public accounting and corporate or business accounting, but there are a number of sub-specializations, such as environmental accounting, internal auditing, managerial accounting and taxes. Your specialty will usually line up with your degree. You will also need to decide between a public accounting role or a CPA (certified public accountant). Public accountants are usually people who work in the accounting departments of businesses, but don’t have as many qualifications as a CPA. These accountants may not possess state certification or licensure. Your personal goals and time commitment will need to be considered before you can make your decision. If you decide on becoming a CPA, you will be required to pass the CPA exam.
Land an entry level job – before you graduate, landing an entry level job, perhaps an accounting internship or another role that can give you experience will look good on your resume. Career-focused social media platform such as LinkedIn can help you.
Continuing education – just because you’ve graduated, doesn’t mean you should stop learning. You’ve worked hard so far, but you should still be thinking about the next moves you’ll make to help make your way up the career ladder.
Would You Suit An Accounting Role?
Making sure you would suit an accounting role is an important step. If you’re skilled at financial management, planning and analysis, and similar tasks, a role in accounting may be perfect for you. It can also help you to dip your toes in the business world to see how you feel. As an accountant, you will deal with all aspects of businesses and work in many environments.
This is a dynamic industry, so those who choose to work in it should be able to adapt and stay flexible easily. You must be able to stay up to date with rules and procedures. The career can be very rewarding, and can give you the opportunity to work in any industry. It might even open doors for you that you never would have discovered otherwise!
Accounting is a great career for those with a business degree and the above qualities. It could be your dream career, or simply help you on your way to discovering your dream career!
Find the answers
Frequently Asked Questions
1. What are good ways to get a job as an accountant?
Networking is essential in just about any job search. You need to persevere, keep applying, and follow up on interviews. Be fully committed and focused in your job search. Here are some ways to improve your chances:
Networking: Reach out and connect with people in your circle who may have connections. The best hires come from referrals. That’s why finding someone who can vouch for you is possibly the biggest asset to your job search.
Diligence: Treat your job search as a commitment that requires time and effort. Send out the highest-quality representation of yourself and keep applying.
Laser-focus: Think about what it is that you want from your next job. What did you enjoy about your previous job? What didn’t you enjoy?
If you are fresh out of university and don’t have any experience, it’s a good idea to start off in an entry-level A/P clerk position. Your primary duties in this role will be paying bills, and working on minor tasks that most people already know how to do. But, this is the perfect way to get your foot in the door of a prestigious firm.
2. How can I get a job as an accountant at a Big 4 accounting firm?
Qualifications and experience aside, here are a few ways you could improve your chance of landing a role at a Big 4:
Participate in a Big 4 internship or a short summer placement
Connect with people at Career Fairs. The Big 4 are very much people-focused organizations. If they like you or if someone can put in a good word for you, they are more likely to invite you for an interview.
While you don’t have to have majored in accounting, taking an accounting course can go a long a way in demonstrating your passion
3. What jobs can I get as an accounting graduate?
An accounting degree doesn’t only provide a route into financial professions, it also develops useful skills in a range of sectors. Here are some of the jobs directly related to an accounting degree:
- Chartered accountant
- Chartered management accountant
- Chartered certified accountant
- Chartered public finance accountant
- Company secretary
- Forensic accountant
A few other job possibilities, where your accounting degree would certainly be useful include:
- Retail banker
- Purchasing manager
- Tax advisor
- Management consultant
4. What job would get me the most money from a degree in accounting and Finance?
Plain an simple; if you want more money than you know what to do with, then a Chief Financial Officer (CFO) position or possibly a pre-IPO start-up is the way to go. But keep in mind that 85% startups fail.
5. Do all accounting students get jobs?
It’s a known fact that accounting students have more job opportunities than any other business student. Even graduates from lower ranked schools will receive job offers that exceed that of an engineering student. However, not everyone is a good accountant and not everyone likes accounting. If you choose to study accounting, you need to be sure of your choice. Talk to people in the field and see if their work interests you.
6. What are the future career choices for accounting students?
While there are many career choices that fall under the specs of accounting students, there are four spheres to worth mentioning. There are; public, private, governmental, and non-profit. Certain accounting related jobs fall into more than just one sphere. Let’s take a closer look:
Public: refers to providing audit, tax, or advisory services as an external accountant
Private: This can refer to a variety of things but generally, it means anything that is not in the public accounting sector. I.e. corporate/managerial accounting, bookkeeping, forensic accounting, and internal auditing.
Governmental: Refers to financial accounting and reporting for governmental entities. However, forensic accounting and internal auditing can also be found in this sector.
Non-profit: Financial accounting and reporting for non-profit entities.
As far as specific career choices go, you should choose a career that you are passionate about. Think about what type of work you want to do and the environment you want to be in. Being in the public sector means that you will endure heavy work periods throughout the year, while private firms will give you good training, experience and exposure to different types of clients.
7. What is the average accountants earning potential?
This is a very difficult question to answer because this number will differ drastically depending on where you based and your position. However, the average accountants salary in Australia is AUD $83,000 per annum and around USD $58,000 in the United States.
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