Jobs in the field of accounting the world over are becoming prominent for different reasons. For instance, according to a report, accountants in the U.S. earn double the employees of any other occupation.
Moreover, the misconception about it being a boring field is also depleting as accounting has a wide range of intriguing career opportunities. The auditing branch of accounting deals with recognizing errors and disparities in financial records that demonstrate poor administration.
So are you confused about pursuing accounting as a career? Here are 7 things about accounting that you should know before opting for an accounting degree.
1. Accounting is a Flexible Degree
It is undoubtedly true that accounting is a flexible degree. It serves as a beautiful foundation for any business career. This degree provides deep expertise in reporting, responsibility, and financial regulations. Whether you aspire to work as a leader in an organization or desire to start a new business, accounting will help you anyway by rendering a general business core.
Luckily, demand for auditors and accountants is thriving rapidly worldwide. There are more than 1.3 million accountants and auditor jobs alone in the U.S. An average of 125,085 relevant jobs are posted each month. There are expectations that this field will keep evolving faster than usual for all occupations.
2. Pass CFA Program
CFA is an excellent way to raise the ranks in the realm of public accounting associations. It is ideal for those who want to work in equity research and investment management. CFA designation is graded for roles in each sector of the global finance industry, including analysis, consultation, private wealth, and portfolio management.
Passing the CFA exam is a tough job; however, Wiley CFA exam prep provides the facility and the tools to prepare for CFA exams. Wiley Efficient Learning is a personalized course platform where dedicated instructors will help you achieve your goal. They encourage students to learn and motivate them to understand everything.
It is always recommended to seek guidance and help from professionals rather than solely relying on hard work and luck.
3. Accounting Provides the Chance to Work in Any Enterprise
There is no limitation of jobs in accounting as there are so many viable career options. Every company needs accounting support, whether it is large or small. Be a CFO, a tax expert, or an auditing officer. You can also assist a company in conforming to government legislation or work for the government itself.
When you enter the world of accounting, do not consider yourself curbed. You will have myriad opportunities to specify a perfect path for you.
4. Do You Have the Personality Required in Accounting?
Besides education, you should have the personality required to be an accountant, financial analyst, or financial expert. Here are the 8 questions that you should ask yourself before pursuing an accounting degree:
- Am I a stickler for the regulations?
- Am I detail-oriented?
- Do I like being a center of attention?
- Am I ready for lifelong learning?
- Am I intuitive?
- Am I looking for a 9 to 5 job?
- Am I good at communicating?
Accounting personnel is responsible for keeping a financial record of the organization and across-the-board financial security and health. They have access to sensitive economic manuscripts like balance sheet statements, tax forms, etc. So, they should have strong ethics, a high level of integrity, truthfulness, and persistence.
5. Accounting is a Necessity
Students often worry that the demand for accountants and financial analysts will decrease as technology advances and automation increases day by day. No matter how advanced the technology is, accountants will still be required for their strategic input and critical thinking skills.
No one can replace their job, but the nature of the job might change or evolve in the coming years as technology is developing in an unprecedented manner. The technology will change the nature of other fields as well, be it nursing, teaching, and motorsports.
6. You Keep Learning During the Job
Regulations in accounting always keep changing, so you have to keep yourself updated. You will have a lot of opportunities to learn new things and grow professionally. For example, the use of I.T., the role of A.I. in accounting, proves why perpetual professional learning is necessary.
Before starting a job as an accountant or financial analyst, you should prepare yourself as it is challenging. You will have to work with teams and individuals with very little accounting knowledge. You will be required to guide on multiple issues that influence a business.
Fortunately, accounting is an exciting job. Every day comes with new things and challenges. So, you will never get bored of working in this field.
7. Transferable Skills
It is pertinent to mention here that accounting is one of the few fields that equips you with enough tools which you can use in different aspects of your life or career such as it equips you with a problem-solving attitude, excellent communication skills, analyzing large data, and summarizing it for the non-technical people.
These skills come in handy even when you are no longer working in the field of accounting. They also help you in your day-to-day life when you have to make a decision about something. Simply put, the skills which you have learned during your accounting degree or working in a professional accountancy firm will remain with you even after you are no longer associated with accounting in any way.
Accounting is a challenging yet exciting field. Individuals can opt for different fields of accounting as per their taste and area of interest. You should seek an accounting degree if you love new challenges and arduous errands. You will never have any dull moments during the practice.
Accounting is one of the most credible professions in the world and once your feet are glued in an enterprise, people will start taking advice from you in matters pertaining to finances and other operations. Businesses will also consider your opinion important in crucial business decisions. You will become an authority when it comes to financial matters.
So, what are you waiting for? Go and get an accounting degree and start helping companies with their financial matters.
Hope this article be of great help to you. Happy reading.