Accounting Jobs A to Z

In the business world, accounting is a discipline in which all people, regardless of the job position should possess some knowledge. Noting that accounting is a business language, there are thousands of accounting jobs today. The concepts of the subject are applied to almost all job specialties and its importance has been promoted over the recent past, with the business revolution.

There is a lot in an accounting career, perhaps among them is to first learn how the business works. Accounting jobs are very evolving and may be the very reason why people see them as stimulating and challenging. Since the role of an accountant is to spend time checking the business hoods, they will know each and every nut and bolt of those businesses. It is no surprise that the key leaders in business and most prominent leaders in business began with accounting jobs.

To most accountants, an accounting job starts when one joins an accounting firm, such as Pricewaterhouse Coopers. It is through spending time with these firms that the accountants get to acquire knowledge outside the class, from the real world, before they start looking for accounting teaching jobs, and auditing jobs, among other related fields.

Examples of accounting jobs: In most terms, when students are about to complete their accounting courses, they are not sure if they will get an accounting career. The starting point is usually the problem. But looking at things on the positive side, accounting courses allows the learner to study different financial analysis which is crucial for any business job.

  • Preparation of basic financial statements: Today, businesses are not just looking for information, but substantial information which will help maximize profits as well as the company’s growth. Accounting courses play a major role in understanding how to prepare statements and financial information which managers, business owners, creditors, customers, government, and the public can use as well. People believe that accounting jobs can be challenging and exhausting, which is to some extent true. The preparation of income statements of a company, also known as the profit and loss accounts statements is not easy. Preparation of these accounting statements brings the accounting skills learned to investigate the performance of the organization/business. However, it depends on the proficiency of the accounting course one has. In fact; ask most of those who have been in one accounting job to the other, and they will tell you that it only takes a matter of time before you get used to seeing it just as a normal™ job. Information gotten from the income statements of the company is needed by the business itself, the competitors, and the existing shareholders.
  • Preparation of balance sheet: This is one fraction of the accounting cycle. The balance sheet is a financial statement used to show the value of the organization, in terms of assets. Very qualified accountants are needed to help the company in understanding its position and determination of the business stability. Most companies provide accounting jobs to employees who have the ability to prepare and analyze balance sheets for the determination of the financial stability of an operation.
  • Interpretation of financial statements: Interpreting the financial statements of any business is very essential.’ The process is known as statement analysis. An accounting job of this kind requires a proficient accountant who will know the kind of questions to ask and how to use the answers given in determining the company’s efficiency, liquidity, and profitability. All these need a well-prepared balance sheet and other financial statements. As far as an accounting career is concerned, every business which requires a competitive edge must have proper findings, analysis, and interpretation of its position; a situation where the accounting jobs come in.

According to most career advisers, college students interested in accounting jobs should start with their careers in public accounting. The route carries lots of benefits including a higher salary and more interesting and diverse work. In addition, there is exposure to many different industries and the ability to fill requirements for certification. Whether working in private or public accounting, as an internal auditor or management accountant, accounting jobs will always use the same accounting principles. Bearing in mind the perennial shortage nature of accountants and the weak economy, accounting teaching jobs will be plentiful in a bit to provide more accountants to fill the very many jobs that have been left vacant. Above all the plentiful accounting salary for the well trained accountants is attractive. As long as taxation, auditing, and bookkeeping are the strongholds of business, accounting jobs will remain a matter of choice, for accountants to work for any company or business.

Math is one subject that not most professionals can boast about. However, not all have trouble working with numbers and often end in accounting jobs. Accounting jobs are challenging but come with big rewards, which are rare in other types of jobs in organizations and businesses. Working as an accountant provides an opportunity for one to see big picture and peak inside how companies operate. The chances of learning how corporations succeed in accounting careers are thus real.

How to Succeed in Accounting Jobs

  • Value of education: Accounting professionals (accountants) spend a lot of time continuing with education, accounting degrees, and certification, not forgetting additional degrees. An accounting career requires Certified Public Accountant (CPA) to gain more and more certifications, which can be an expensive step. But the fact remains that the accounting job description will require employees who believe in their future investment.
  • Getting into a routine: Accounting jobs are all about getting into a routine. It is very difficult to stay motivated with the accounting routine work but accounting work will at times offer unexpected challenges and problems which keep you on your toes.
  • Constant collaboration: Most people think that accountants do their work individually. The truth is that accounting jobs involve constant relations and collaboration with others on a team. Accountants™ work together in ensuring correct accounts principles are put in place for business growth.
  • Communication is crucial: Once you solve a problem in accounting, sign off reports or projects, you are required to communicate results with others in the company. Accounting job is not easy for those who are not working inside the organization; hence professionals should have the ability to explain their work to others. Strong skills in communication will be key in helping accounting professionals during the voicing of ideas or during presentations to executives.
  • Networking: Crucial for the success of accounting job workers looking to get ahead shouldn™t feel uncomfortable asking for help regarding their accounting career from veteran team members. Knowing well that an accounting job is technical and requires lots of hours of training and experience, the best way for accounting professionals to skyrocket to top jobs is through networking. According to the AIPCA, American Institute of Certified Public Accountants, more than 91% of accounting firms expect jobs for accounting majors to increase or remain constant. This becomes the greatest news for students and graduates seeking for an accounting career. Lots of accounting colleges have been worried about their graduates looking for job opportunities especially considering global economic crises. With the constant rise in unemployment, it becomes very comforting to see the high demand for accounting jobs.
  • The baseline to accounting jobs: Regional firms represent the clients doing most of their business both local and international. Accounting jobs are based first at the starting point, immediately the graduate has completed his/her accounting course and is looking forward to starting an accounting career. In the US, there are four largest firms that are known to practice stronger accounting. However, there are other smaller categories that offer the same job opportunity depending on the region. If you are considering starting your accounting career in a public accounting firm, ensure that you first check the quality of that firm’s practice.

The local firms tend to operate in small numbers and also focus on small businesses, as well as individuals. These firms conduct tax and planning engagement, which is more than bookkeeping. Nevertheless, public accounting is not for anyone. It is good noting that private accountants don™t do much traveling as public accountants and thus accounting jobs of their caliber are more stable. Private accounting jobs do not involve the changeability issue, where there is pressure on the public to work on billable projects as most of the time as possible.

For public accounting jobs, management and internal auditing, they all have much, mobility, and hence practitioners (accounting professionals) find themselves shifting from management accounting to internal auditing and vice versa. Later, as they rise through the organization, they advance to chief accountants, managers of internal auditing, and accounting managers among other levels of accounting jobs. Additionally, due to the fact that they learn about and also review internal controls of different business units, within the company, internal auditors usually gains the experience needed to become upper-level managers, the very dream of every person in the accounting career.

Succeeding in accounting jobs can be said to be a matter of choice, depending on whether one has all it takes. Though we have been used to the idea that only through studies and getting almost everything in math™s can give us the way, there is more than just the studies, the personality, and understanding of what accounting jobs require from a successful candidate. Of course, education is a part of the accounting job determinant but doesn™t hold everything, as discussed above in this article. Job opportunities for accounting are not the only reasons students should consider accounting. Accounting job openings can be rewarding too. The average accounting salary as of by March 2009 was $51000. However, change can exist due to the company, its location, and the industry.

Types of accounting jobs: Accountants and auditors help in ensuring the efficient running of the firms, accurate keeping of public records, proper payments of taxes, and ensuring payments are made on time. In addition, they also analyze and communicate the information (as discussed in part 2) for various entities such as individual clients, the company, the state, and the government. Beyond the fundamental accounting jobs; provision of information to clients through preparation, analysis, and verification of financial statements, most accounting professionals offer budget analysis, IT consulting, financial and investment planning, and limited legal services.

Major types of accounting jobs are classified into 4 categories;

  1. Public accounting
  2. Management Accounting
  3. Government Accounting
  4. Internal auditing
  • Public accounting job: The accounting professionals working in public accounting are paid accounting salaries for services provided to businesses, individuals, and the government. Most public accounting involves a combination of tax, auditing, and management consulting. For smaller companies, the accountants offer tax and book-keeping services, unlike the larger firms which have internal accounting departments. Due to the requirement of a public company to have a yearly audit, large accounting firms become important in this requirement fulfillment. Some of the public accounting professionals specialize in forensic accounting. This involves the investigation and interpretation of white-collar crimes such as embezzlement, security fraud, contract dispute, and bankruptcies, among other complex criminal financial transactions. Forensic accounting job requires a combination of accounting (finance) and law with investigative techniques in determining whether an activity is illegal or not.
  • Management accounting job: Here, accountants work on several areas of the corporation, especially on financial and accounting sides. On finance, they can work on financial planning and analysis of treasures group, making analysis on potential acquisition and funding decisions for a given company. In accounting, opportunities for handling taxation issues and working with external auditors in the preparation of financial statements are common. Usually, management accountants are involved in executive teams for the strategic development of new products.
  • Government accounting jobs: This involves working in the public sector maintaining and examining government agencies’ records as well as auditing private businesses whose activities are subject to government regulation and taxation. The DOD Department of Defense, IRS-Internal Revenue Service, GAO-General Accounting Office, and SEC-Security Exchange Commission have a typically high number of accounting jobs within their organization. IRS has the responsibility of reviewing individual and corporate tax returns. The SEC ensures it hires experienced accounting professionals for the evaluation of filings made by public companies
  • Internal auditing: This accounting job involves the accountant reviewing the firm or company’s financial practices; checking the mismanagement, waste, and fraud activities. They also evaluate firms’ budgeting and management systems and operations for performance and efficiency, in addition to compliance with laws and regulations.

These tasks are all performed within the organization.

Accounting job applications: Internal controls are crucial for any existing business. This is for the purpose of internal theft control. Having a good set of internal control; it becomes difficult for employees to embezzle funds or merchandise. An important part of the internal control accounting job is the separation of duties. This simply means that nobody performs all jobs of a company. It creates a room of responsibility sequence in that one person checks the other’s work, making fabrication of accounting data difficult; where loops of money stealing exist. Accounting jobs provide a base for these companies’ controls and checks to ensure that they are as well enforced. As people become more and more intelligent, more do there exist chances of accounting frauds increase, risking businesses losing lots of cash. This also increases the demand for accounting job openings for people with FBI knowledge. Companies, institutions, businesses, and organizations are looking for people who can decouple financial statements and able to pick bad accounting forms for uncovering sophisticated fraud dealings.

Accounting jobs are also on the increase for trial purposes. This is a result of the necessity of evidence provision to lawyers and prosecutors when the need arises (where necessary). This means that the jobs will be very rewarding. Lots of accountants also feel rewarded upon discovering fraudulent activities uncovering and prosecuting those who try to manipulate the company’s financial data for their own personal gain. With such fraudulent activities being committed each year, strict auditing by accounting firms and accounting professionals will be essentially needed. This means more accounting jobs for the firms, and ultimately for the accounting professionals too.

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