Accounting is a vast area, so there are plenty of career opportunities. Starting a career in accounting is a wise choice. An accounting career path ensures a stable salary and proper work-life balance. Skilled and qualified accounting professionals are always in demand.
If you choose a career in accounting, you will find that the field is much larger and more diverse. You can apply your skills in many different areas.
Various Career Field In Accounting
There are many fields in accounting where you can pursue your career. Each domain has its area of focus and specialisation. Here are some accounting careers that you can choose.
If you have CPA certification, you are eligible to work at a public accounting firm. A public accounting firm provides auditing, tax, consulting, and accounting services for clients, including businesses, individuals, nonprofits and governments. As a public accountant, you will be an expert in many aspects of the accounting field, including preparing and reviewing financial statements, analysing budgets and tax works, and consulting and advising on various economic issues.
Tax accountants are in charge of helping individuals and organisations file their taxes appropriately while following legal guidelines. Their responsibilities include preparing tax provisions, schedules, returns, payments, and reports and maintaining a company’s tax database. Other tasks include collecting tax forms, tracking client paperwork, identifying potential tax credits and producing tax reports.
A forensic accountant is responsible for performing forensic research and analysing an organisation’s financial data to identify potential fraud or business revenue loss. They review financial documents to determine inaccuracies. They have to deal with legal cases of the organisation related to accounting.
Financial accountants perform tasks like budgeting, managing tax payments and performing internal audits. Responsibilities of a financial accountant include gathering and monitoring financial data, preparing monthly, quarterly and annual statements, forecast costs and revenue, organising internal audits, preparing budgets, analysing economic trends etc.
A financial planner helps clients to manage their finances. They advise on investments, cash flow, savings, and debt management. Their responsibilities include analysing financial status, examining and suggesting financial opportunities, developing sound plans and budgets, customising financial goals, and presenting and selling suitable financial products and services.
Managerial accountants work for public companies, private businesses and government agencies. They mainly focus on internal stakeholders. Managerial accountants prepare internal review reports to help business plan, budget and improve performance. Their duties include recording and crunching numbers, helping to choose and manage company investments, risk management, budgeting, planning, strategising and decision making.
Internal auditors ensure organisations and companies have accurate accounting throughout the year. They perform tasks like determining internal audit scope, developing the annual plan, and obtaining, analysing and evaluating accounting documentation, reports, data, flowcharts, etc. They are responsible for performing a complete audit cycle, including risk management and control management over operations effectiveness, financial reliability and compliance with all applicable directives and regulations.
Government accountants work in the public sector, managing financial information for all levels of the government – local, state, and federal. They manage public funds, investigate white-collar crimes, perform financial statement audits for government agencies, and research emerging accounting issues.
Career Path Planning
Now you got an idea about some of the various careers in accounting. The next step is for you need to choose your career path.
Here are some factors you need to consider.
Determine your field of interest:
As you know, accounting is a vast field with a lot of opportunities. So it would be best if you found your area of interest. It will help you to focus and develop your knowledge.
Identify your goals:
Determining your overall goal will give a clear vision of direction and purpose to your career development planning. Making the right goals gives you desired results if followed with the proper steps.
Assess your position:
It is important to review where you currently stand in your position. Ask yourself about your skills and knowledge. Are you in the right position leading toward your objectives? Are you planning to find a remote job? Etc.
Set SMART goals:
SMART stands for Specific, Measurable, Achievable, Realistic and Timely. Setting realistic timetables helps motivate you to invest more time and effort to accomplish the SMART goals.
Identify your obstacles:
Identifying your barriers is as important as finding your goals. There may be internal and external obstacles. Internal obstacles are within yourself, such as your characteristics, insecurities, or habits that come in your way. You might face external obstacles to achieving your long-term and short-term goals.
Write down your plan:
Writing down your career development plan will give you a proper idea of reaching your goals.
Evaluate from time to time and value the milestones:
You can make changes and update your plans and career goals. Explore every little milestone.
We have discussed the career opportunities and career paths to achieve your career goals. Skills and knowledge will help open the door to your dream career. SpotGiraffe is the key to unlocking the door to your career dream. It is the best place for all accounting and finance-related jobs. Register on SpotGiraffe and find your dream job.