In this blog we talk a lot about accounting. The reason is that accounting is almost like the glue that holds a business together.
A business does not survive without knowing the numbers and making sure there is cash flow. So every small business owner needs to understand something about accounting.
But let’s take that a step further as there are a number of benefits for a person who chooses an occupation in accounting.
- They are not likely to be unemployed due to the wide range of jobs in accounting.
- Good accountants are most likely to have enhanced job possibilities, promotions, specialist recognition and career advancements.
- Accounting jobs pay very well and accountants generally enjoy a good lifestyle.
- There is stature in being an accountant that can also lead to other opportunities both in and out of accounting.
Bookkeeping and accounting is a very respected profession. Numerous colleges and universities provide accountancy programs to make sure that the sector continues to have a sufficient number of accounting professionals who are professional and reliable in their work.
Careers in accountancy vary from low-level bookkeepers or accounting assistants through to executives and board members.
There are also a number of fields that accountants can specialize in, including:
- Company accountant – where someone provides accounting services to an individual company that employs them in that role.
- Public accountants – where a person works for an accounting firms that provides services to many clients. Some of these clients may have their own internal accountants but the majority of small business clients would be relying on the public accountant as their main expert.
- Tax accountants – this is similar to public accountants where services are generally provided to many clients. However, the accountant has particular skills and expertise in understanding the tax legislation and providing assistance in complying with tax legislation and tax planning.
- Auditing – some large companies have their own internal auditors but this is generally a function that specialist audit firms provide where they examine and report on the accounting processes of their clients.
To secure a job in accounting and be successful at it, a person needs to have a minimum of a bachelor degree in accountancy. There are additionally specialist certifications that one requires if they plan to be Certified Public Accountants.
The professional accounting bodies also have a code of ethics that ensure their members act in a trustworthy way.