If you have reached a point where you want a career change or want to master a new high-value skill, an accounting degree will be the most suitable one to choose. Many are not aware of the importance of an accounting degree and its high demand in the job market.
If you want to start a career in the accounting field, a strong foundation in business knowledge is a must. An accounting course will help you gain this knowledge. Here you will also learn to analyse and apply financial rules and regulations, communicate your reports with internal and external stakeholders and generate financial records. You can also increase your knowledge in business strategy, risk management, information systems, quantitative analysis and business ethics.
What to do with an accounting degree?
Accounting is a field where job opportunities are never-ending. You can not only lead a prestigious life but also earn handsomely after entering the accounting world. According to recent studies, there will be a steep increase in the need for accountants and auditors by 2028. Getting an accounts degree makes you a potential candidate to be among them.
To bag a career in the accounting industry, you need to upskill yourself and gain a bachelor’s degree. A bachelor’s degree in accounting will give you theoretical knowledge about accounts receivable and payable, tax returns, financial statements and computer applications such as MS Excel. Apart from these topics, you need to get trained in auditing, fraud examination and international accounting if you have higher job prospects.
We have made a list of a few jobs that an accounts degree holder can apply for to make your job easier. You should also remember that experience also counts in various positions. So it is better to take some internship programs before entering the accounting world.
Bookkeeping is the best option if you want to gain experience. The bookkeeper’s main job will be to maintain accurate financial records by tracking income, expenses, overdue accounts, pending invoices, etc. Here you will have the freedom to work for a company or become a freelancer. Even if you are working independently, sometimes you will need to collaborate with other accountants for analysis and auditing.
As a staff accountant, you need to do bookkeeping tasks such as creating ledger entries, generating financial statements and reconciling accounts. You are also required to assist senior accountants in auditing, processing accounts receivable/payable and recommending improvements to reduce costs. In this job, you will get the opportunity to explore different areas in the accounting field. This job is an excellent opportunity for a bachelor’s degree holder.
Malfunctions and malpractices are bound to happen in every industry. Every organisation requires internal auditors to investigate their financial statements, processes and accounts. This job is highly in demand. Since their job is to find inefficiencies and suggest ways to improve them, accuracy is a must trait you must possess in this field.
Accounts Payable clerk
An accounts payable clerk is responsible for keeping track of invoices and expenses, logging them accurately, and handling money exchange. You need to enhance your soft skills and technical skills as you need to interact with your clients.
The main job of the cost accountants is to analyse every cost related to labour, materials, shipping, production, administration and much more. After analysis, you need to help various departments to function according to the budget allotted to them. You will also need to set the price of your company’s product or service.
A financial analyst needs to identify the recent trends happening in the financial market. These trends are significant as they help in decision making, increase profit and decrease risk. Financial analysts either work in the buying or selling of investments. Both sides have similar job roles.
Accounting Manager is a position you can achieve after some years of experience. Your role as an accounting manager is to hire, train, direct and motivate a team of junior accountants. You will also be responsible for preparing annual budgets, tracking long term financial data, and developing policies and procedures.
The role of a tax manager is similar to an accounting manager. They are in charge of a team of accountants and are responsible for preparing a company’s taxes and ensuring operation is within federal, state and local tax regulations. A tax manager needs to stay up to date on the changing tax laws and develop different strategies to save money during tax season.
As the name suggests, the controller controls everything happening inside the company. From bookkeeping to internal auditing, everything comes under him. His job role also includes strategic planning and risk management, which needs a lot of experience and an accounts degree.
Holding an accounting certification is always a preferable option if you plan to start your career in the accounting world. As you can see, there are many opportunities in this field, and a degree will only help you become a potential candidate.