Accounting has a reputation for being primarily concerned with income tax planning and little else. So if you think getting a degree or certificate in accounting entails you being locked in a room, poring over financial documents until you die, you couldn’t be more wrong.
A degree in accounting opens the door to some of the best and most popular jobs in any industry. More so, the accounting field is now a combination of problem-solving, analysis, and detective work. To do the job effectively, you must communicate appropriately and deal in a world outside of numbers. It is fair to say that landing a job in the accounting field will never be like any other.
To comment more on this, here are some of the best and most marketable careers in accounting that can lead to a lifetime of excitement and growth:
CPAs, also known as Certified Public Accountants, have a lot of flexibility regarding who they work for. They can perform day-to-day accounting responsibilities or advance their careers by acting as business consultants. They are primarily in charge of tax preparation and corporate finance tasks. However, in many cases, they are invaluable in developing the types of financial strategies that help organizations thrive in the future.
In terms of requirements, all states require a bachelor’s degree in finance, accounting, or other subjects. In addition, some states require the candidates to sit for the CPA exam before applying for a license.
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Auditors, in general, are in charge of determining compliance with financial rules and disclosing regulations. However, different types of auditors specialize in various roles. External, forensic, and internal auditing are examples of these roles. While internal auditors prioritize compliance within their organizations, forensic and external auditors are hired to independently examine irregularities in other organizations. To become an auditor, you must complete a relevant bachelor’s degree and undergo additional auditing training. The additional training required will be determined by the area of specialization, such as forensic auditing, internal auditing, and external auditing.
- Accountant in Management
A managerial accountant controls profit and costs analysis and prepares and plans financial reports for internal staff. Their primary goal is to assist high-level executives in making sound financial decisions. Some tasks include cost-based planning, adapting operations, overseeing the product process, forecasting, and enterprise optimization.
- Chief Financial Officer (CFO)
The job responsibilities of a CFO vary in the industry, but there are a few key areas where all CFOs should excel. These are performance, financial management, business strategy, and risk management examples. CFOs are leaders who assist businesses in making sound business and financial decisions. They develop revenue strategies and identify financial opportunities and risks. Many top-earning CFOs have multiple certifications. So if you wish to be a Chief Financial Officer, you should consider getting your MSA, MBA, or CPA.
- Accountant for Spectator Sports
Even if you can’t hit a home run, you can still work in the sports industry. If you’ve ever wanted to be guarded by the world of your beloved sports team, becoming a sports accountant could be your career. You can help with staff and player compensation, oversee the entire accounting department, or manage inventory for the team and whatnot.
- Corporate Controller
You’ve probably heard of this job title before. A controller is someone who keeps records of and manages the financial aspects of a company. They generally manage the budget, prepare taxes, supervise employees, and set financial goals for the company. They collaborate closely with various teams and must be familiar with various computer applications to run and assess financial reports.
- Financial Analyst
Various financial analysts’ titles include research analysts, investment analysts, and others. The description remains the same regardless of the job title. They delve deeply into the investment options available to businesses and private individuals, assisting others in making the possible decisions given the conditions.
These individuals form the backbone of any business because they must constantly stay current on all financial markets and industry trends. An investment’s trajectory can change as quickly as the weather. If a financial analyst isn’t on top of things, it can cost their client a lot of money.
- Investment Banker
The term “investment banker” refers to a broad range of activities by auditors and accountants. These include assisting a company in managing an acquisition or merger, issuing stock on a public market, and even assisting governments in raising capital. There are numerous career options available to you. An investment banker’s job is very demanding, with high-pressure deals, long hours, and rigorous governmental scrutiny.
Investment bankers typically begin as financial analysts in entry-level positions that last two to three years. Nevertheless, there are numerous opportunities for those willing to put in the effort. And regardless of your basic wage, benefits and bonuses can significantly increase your total compensation.
- Budget Analysts
Finally, we arrive at the role of a budget analyst, which has a somewhat complex job description. Businesses must spend money to prosper, but determining that amount without overspending or underfunding is difficult. That is what budget analysts do. They examine the current budget and look for ways to cut money where it is useless and spend the remaining funds more efficiently to increase profits.
In addition to examining financial department reports, they monitor where money is going, offer additional regular reports on how the company is doing, and more. They can frequently find work in private businesses and every federal government branch.
As you can see from the list of professions above, accounting is a varied career with unlimited options. If you have the right skills for the job, you can find a way to use them that also fits your preferences and qualities. Also, suppose you are willing to meet the requirements. In that case, you have a good chance of having a successful (and financially rewarding) career in accounting. You will indeed have an excellent time choosing any of these careers.