Is it worthy to consider majoring in Accounting for a person with interest in financial statements information analysis? Majoring one’s studies in Accounting equips them with both arithmetic and analytical skills that are useful in an organizational resource management process requiring informed decision making. In this regard, dissecting and evaluating business problems procedurally, quantitatively and qualitatively becomes easier for a qualified accounting experts. Besides being in a position to adequately handle Accounting spreadsheets, the knowledge acquired enables a professional to process and present financial information using the existing accounting software. With this in mind, there are numerous careers that one can pursue by acquiring knowledge, skills and experience in the diverse and always on demand accounting field. Some of the careers in accounting are discussed below.
Knowledge and skills in Accounting is useful in enabling the performance of complex accounting work, which mostly revolves around financial records. This is possible since Accounting studies aids in the development of accounting skills for use in precise and detailed business problems analysis. Accounting professionals also develop presentation skills useful in portraying financial information through charts, graphs and other visual aids apart from figures.
2. Budget Analyst
Projects and proposals in organizations are prepared by Budget Analysts based on accounting and finance principles. This includes the analysis and evaluation of budgets to determine their financial impacts on organizations. Studies in finance major are valuable in this context because it develops the required analytical and communication skills ensuring that budget analysts are always successful in their work.
3. Certified Internal Auditor (CIA)
The role of a Certified Internal Auditor in any modern day organization is vital. This group of professionals do the interesting and challenging role of monitoring all the financial records of an organization and ascertaining their accuracy while at it. CIAs can work within both the public and private sectors performing internal roles in these organizations. As a result, they are responsible for observing industry trends, tracking expenditures and revenues, recommending on efficiency improvement measures among many other important tasks.
4. Chief Financial Officer (CFO)
The overall successful performance of any organization depends on the choice of its CFO. A CFOs role in an organization is to shape its direction by offering advice relating to finances both to the Chief Executive Officer (CEO) and an organization’s board of directors. A CFO’s position is a huge role because it incorporates experience of taxation, investment strategies, financial operations (analysis and planning), financial accounting and computer information systems knowledge among a variety of other areas of organizational expertise.
A Comptroller/Controller otherwise known as a Chief Accountant is the person responsible for overseeing the overall performance of an organization’s accounting department. They look at an organization’s inflow and outflow of money ensuring all the aspects of bookkeeping are in order. Besides performing audits, purchases, and payrolls, a comptroller is responsible for analyzing budgets, taxes and all the financial statements. A controller has to be a highly educated individual with extensive accounting and business skills.
4. Certified Public Accountant (CPA)
Having a career in the accounting field as a CPA is both fulfilling and lucrative. The roles of a CPA are diverse covering individuals in aspects such as taxation filing to corporations in roles such as financial planning. In this regards, a CPA can undertake public accounting, financial compliance, assessment and management of risks, assets management, and tax planning among numerous other roles. Studying towards becoming a CPA is both involving and rigorous. Apart from the extensive knowledge in core accounting subjects, a CPA is also knowledgeable in courses such as statistics, Logic and critical thinking, macroeconomics, databases, and spreadsheets among others.
5. Forensic Accountant
This is an accounting career that requires the exhibition of higher levels of specialization and expertise. It involves the professional application of acquired knowledge and skills in the fields of law and accounting. These knowledge and skills are used in the analysis of an organization and its finances with the broader objective of detecting the existent of fraud otherwise referred to as white collar crime. Due to their investigative roles, this accounting career professionals are mostly well suited to work in government agencies, consulting firms, law firms and financial institutions.
6. Tax Accountant
A career in tax accounting is very interesting given it involves a series of roles ranging from analysis, planning and presentation of organizational tax payments and returns. Businesses and individuals need these accounting experts to handle the diverse taxes ranging from local, state to federal levels. Their role is to ensure all the tax laws are adhered to by an organization including the timely filing of the appropriate taxes. Apart from having the required technical knowledge, accountants must also exhibit high ethical standards and a passion for research in order to be successful.
In summary, the field of accounting is broad and diverse besides its technicality and complexity. Getting information regarding more careers in accounting courses and any form of professional academic assistance in the studies is easily realizable through a number of existing college accounting homework help websites.