Is accounting a good career path? Best paying jobs in accounting
Interested in a career in accounting? Before venturing into this industry, it is vital to determine if accounting is a good career path; this article addresses this topic.
Why accounting is a good career path
1. Independence and decision-making authority
One of the major benefits of becoming an accountant is that you have the option of working for a corporation or independently.
In each of these circumstances, the profession gives a significant deal of independence in terms of work planning and time management.
>Do You Want To Receive Update As Soon As We Publish? join our Telegram Channel stay updated with the latest headlines--CLICK HERE
Accountants are either independent practitioners or firm employees. Before starting your own business, it is preferable to have worked as an employee for many years.
Self-employment demands a strong feeling of responsibility and an extensive network of connections. It is possible to network with other certified public accountants.
However these benefits ironically make accounting a difficult career with unpredictable hours and frequent travel, requiring the ability to balance work and personal life.
2. Multiple growth possibilities
Graduates in accounting may work for a variety of corporations and organisations, including government agencies, commercial firms, university institutions, and even as independent consultants.
3. Good wages
Those who opt to major in accounting will enjoy decent income and a high standard of living in the future.
Because it is a highly regarded profession at the corporate level, earnings in this sector are often above average.
A modern accountant makes a decent livelihood with an average annual gross pay of $56,661. Obviously, the income fluctuates based on your professional expertise and the circumstances in which you execute your occupation (remuneration policy of the firm, geographical sector, etc.).
In addition, after a few years of experience, there is a large income increase in this industry.
4. Strong labour demand
All businesses and organisations need a knowledgeable accounting expert who is capable of arranging money and resources; hence, the demand for accountants is constantly strong and specialists in the field are less likely to experience unemployment.
A vocation in accounting has a management profile, enabling individuals in the field to operate at the top levels of any firm and become effective team leaders via the execution and coordination of various duties.
5. Contribute to economic growth
Whether working in a private or public organisation, the accounting profession will enable you to contribute to the economic development of the area by enhancing the management and administration of assets via your expertise.
6. Fewer clichés
Today, we spend less time in front of a computer screen crunching figures and generating balance sheets; the chartered accountant is no longer confined to preparing the books; he is responsible for aiding the entrepreneur in a greater variety of high-value ways.
A significant portion of the work involves educating and counselling clients. Listening, communicating, and asking questions are increasingly required abilities for a successful Chartered Accountant.
7. Modern and cutting-edge knowledge
In recent years, the accounting profession has become increasingly technologically advanced.
Among young individuals nowadays, Chartered Accountants have a lively, high-tech, connected image. Almost no longer is the task to input numbers, but rather to analyse them.
Due to significantly increased travel, particularly to consumers with tablets or laptops, accountants must get acquainted with industry-leading software.
You will spend the most of your time with your ear hooked to your smartphone, responding to client inquiries and requests for guidance.
8. Internship pay
It is possible to begin practising as a chartered accountant while still in school, unlike in the majority of other professions.
After obtaining a master’s degree in accounting and management, you will complete a three-year paid internship during which you will be given important responsibilities.
Indeed, with completion of this programme, you will have gained auditing abilities and be able to assist businesses in making strategic choices.
To receive the certificate of chartered accountant, you must pass a final exam consisting of three examinations, including the defence of a dissertation, at the conclusion of this internship.
9. Students are able to learn online
Not everyone has the opportunity to attend college. Students may enrol in online programmes to balance employment and school obligations.
Students with an online accounting degree may pick their own hours, and need not be concerned about lengthy travels.
Consequently, online programmes may aid students in their pursuit of an inexpensive education.
10. Facilitates transitions
Accountants may readily switch professions. Due to their diverse skill set, they have an edge in the job market. Majors in accounting may also work independently for an accounting business.
Accountants may determine their own schedules by providing independent services to small businesses.
Students may work in marketing, information technology, financial planning, and banking.
Those interested in a high-stakes career may even uncover fraud as private investigators. Accounting is a multifaceted profession.
11. A fairly extensive field
Consequently, accountants are required in every business. Students who aspire to pursue a profession in a multifaceted area should acquire a degree that combines many disciplines.
For instance, an individual interested in both finance and criminal justice may seek a degree in forensic accounting.
In addition, students have the option of working in the public or private sectors.
Best paid accounting jobs
1. Director of Finance and Administration
Accounting’s most lucrative occupation is the Director of Finance and Administration, therefore, those requiring a close connection to senior management.
The DFA, a genuine conductor of financial management, collaborates closely with the manager to accomplish the strategic growth of the organisation.
2. The financial controller
Interpersonal abilities that are adaptable, pedagogical, and justifying is the triptych that enables the financial controller to carry out his everyday responsibilities as one of the best paying professionals in accounting.
This individual is responsible for regulating the company’s spending, accounts, and finances to guarantee their regularity and dependability in accordance with the applicable laws and accounting standards.
In addition, the financial controller performs budgetary certification of accounts and implements financial control systems.
Conclusion: Is accounting a good career path?
According to an ancient proverb, those who like their employment never have to work a day in their lives.
Due to the intellectually engaging nature of their employment, accountants may feel themselves fortunate.
Mathematical ideas have practical uses for employees. They provide unique solutions to help businesses operate effectively. Moreover, workers engage with individuals from many walks of life.
In contrast to other occupations, accounting offers several career opportunities.
Students may anticipate obtaining employment in merging management, quality management monitoring, or computational cost estimation.
Additionally, both private and public firms assist students in launching their professions, making accounting a certified great career choice.