If you have an aptitude for mathematics and can compare, interpret, and analyze facts and figures with ease, you may want to consider a career in accounting. Along with these traits, the ability to communicate clearly, work well with people and systems, and a high sense of integrity is an added bonus. Today, thousands of industries and businesses require the services of professional accountants and auditors to track their assets, debts and income. Besides recording all financial transactions and creating statements of costs and gains, accountants also participate in preparing strategies for business mergers and acquisitions, developing financial information systems, quality management and creating tax strategies for companies. Accountants are perpetually in short supply and jobs in this field are not hard to find. In spite of the current economic turmoil, well-trained professional accountants will have no problem landing a well-paid job. In fact, with the recent scandals in the financial sector, there is a greater need than ever for dedicated and honest professionals.
Accountants basically work towards ensuring that companies and businesses run efficiently. They are considered to be the backbone of any organization. Accounting can be broadly categorized into four fields - public accounting, management accounting, government accounting, and internal auditing. Accountants and auditors in each field analyze, record, and verify all financial transactions accurately and provide this information to their clients.
* Public accountants deal with corporations, non-profit organizations or individuals. Their job profiles could include auditing, consulting on tax matters, and designing data processing and accounting systems. There is a new brand of forensic accounting that has emerged which investigates and interprets bankruptcies. Many public accountants are Certified Public Accountants (CPAs) and work either with an accounting firm or as individual consultants.
* Management accountants are responsible for maintaining the records and analyzing the finances of the companies that hire them. They could be involved in budgeting, cost management, evaluation, and strategic planning. They prepare the all-important financial reports that go out to the company's stockholders, creditors and board members.
* Government accounting requires the maintenance and checking of records in the public sector. These accountants will also audit those companies and businesses that are subject to government taxation and regulations. The Internal Revenue Service is one of the largest employers of government accountants.
* Internal auditing is an extremely important sub-category of accounting. Internal auditors check for mismanagement of funds and fraud. They verify all records and financial statements and evaluate a firm's financial systems and internal controls to ensure that there is no leakage of funds or illegal activities. Internal auditors conduct regular reviews of corporate policy, laws, and procedures. Internal auditing can further specialize into environmental auditing, legal auditing, insurance auditing, healthcare, and bank auditing.
Most accounting jobs would require a minimum Bachelors degree in accounting. Accounting degree programs that also prepare students for various certifications and licenses have an added advantage. When choosing a Bachelor of accounting degree, make sure that the college you choose is accredited and that the course provides training in the latest auditing software and specialized programs so that you have an immediate edge in the job market once you graduate.
by Scott.C
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