In any business or industry, accounting is an important function. It makes sense that there will always be a need for accountants and auditors. The Bureau of Labor Statistics (BLS) projects a 7% increase in accounting and auditing jobs by 2030. An average of 135,000 positions for accountants and auditors are anticipated to become available each year. Accounting is a desirable long-term career path due to the fundamental nature of accounting roles and excellent growth prospects. However, a lot of aspiring accountants are unaware of the whole range of opportunities available to them. This guide can help to takes great assignment help you get started and grow in the accounting industry by providing you with information on three common career paths and 10 entry-level to mid-level jobs within these industries.
Why choose to become an accountant?
Upon completion of coursework and additional training, an accountant typically works for a business. Their professional career is typically structured when they become accountants, and they progressively assume more responsibility. One may be promoted to a managerial role in less than two years and eventually become a senior manager. As they gain more experience, they may be promoted to the role of CFO or maybe hired as an accountant’s partner. Certain specialties can be completed with the appropriate training and credentials. It is possible to monitor several accounting domains, including:
- Commercial or Corporate Finance
- Fiscal Accounting
- Legal Accounting
- Administration Accounting
- Excise Accounting
- Internal Audit
- International Accounting
Three Often-Taken Career Paths in Accounting
There are many options available to accounting graduates, regardless of whether you’re thinking about taking on your first position in finance or accounting or if you want to switch careers to seek something more fulfilling.
Three sectors comprise the majority of accounting careers:
Public Accounting: An Accounting Assignment Help company that helps a variety of clients in producing financial documents, preparing tax returns, or providing audit services is known as public accounting. Numerous opportunities are also available in local and regional firms or private practice. Even though jobs in this field are challenging, there is an opportunity for rapid career advancement and a variety of experiences to be gained.
Two Careers in the Field of Public Accounting
Let’s examine how these two public accounting career paths differ from one another and who would be most suitable for these positions.
- Tax Services
To help clients reach their financial objectives, public accountants who work in tax services offer them tax and financial advice. The stability and security of their client’s finances serve as a measure of the success of a tax accountant.
- Audit/Assurance Services
Public accounting firm auditors are in charge of monitoring their client’s cash flow and accounts to make sure the proper recording and processing are taking place.
Corporate Accounting: Also known as private or industry accounting, corporate accounting describes the work of accountants who are employed by a single company in its finance division. Although corporate accounting differs greatly from public accounting in terms of schedule regularity and work environment, you can anticipate a less formal setting.
Two Careers in the Field of Corporate Accounting
Let’s examine the differences in responsibilities across two corporate accounting career paths.
- General Accountant
A general accountant is an adaptable worker with a wide range of duties and abilities. A general accountant’s main responsibility is to provide financial information derived from the investigation and evaluation of accounting data.
- IT Auditor
An IT auditor assesses and examines the technology infrastructure of a business. They guarantee the correct and efficient operation of systems and processes, as well as the preservation of data security and respect to regulations.
Financial Services: Banking, investing, and insurance are just a few of the more specialized activities that make up the financial services sector. When taken as a whole, these businesses represent one of the most significant and influential industries in the economy and present a wealth of opportunities for accounting professionals.
Two Careers in the Financial Services Sector
Let’s examine the top two for professionals in entry- and mid-level positions.
Hedge Fund Accountant
Accounting services and financial performance analysis are supplied by hedge fund accountants to hedge funds, which make investments on behalf of institutional and high-net-worth investors. These experts are in charge of computing net asset value, keeping track of general ledgers, and creating financial statements.
Accountant for Regulations
These accountants take the initiative to finish and send regulatory reports to the appropriate organizations. They need to be subject matter Great Assignment Help expert in the regulatory requirements of governing bodies and keep up with changes to regulations in addition to having accounting skills.