What is Accounting?
Accounting is a systematic way of recording Financial Transactions pertaining to a Business, prepares and checks Financial Statements with taxes and other budgetary records. This is also a process of
Communicating Financial Information
It actually shows Profit, Loss, Value and Nature of the business for a period of time. To do Accounting, professionals those are the individuals having the formal education to carry out these Accounting tasks. These professionals should have a bachelor’s or master’s degree on accountancy a must to do this job or with having professional certifications.
Accounting is the main and crucial part of any business, without this any business will not be successful. As this lets you know profit and loss of your business by maintaining day today financial information like whether your business is towards gain or getting loss. This keeps the actual balance of your business financial status to show you a path or ideas exactly where to invest money and not to invest. So it is very important part which is actually the backbone of any type of business you do or will going to do, which keeps your business always healthier.
Career Advantages in Accounting
This has a wide scope of career enhancements and choices with good different opportunities, recognition, and advancement towards becoming successful. Given below are among the 5 different career advantages like –
- Financial and Job Security
- Potential for having Professional Growth
- Clarity towards Career Path
- Can have option from where you want to work
- Various types of Career and Work Environments
Accounting is actually very much connected with the business; As long as business exists there will be a need for accountant. As per the U.S. Bureau of Labor Statistics, the average income in this job is of $70,120 in the year 2011 compared to year2010 which was up from an average of $61,690. The average annual income in the year 2016 was $68,150 according to the BLS. The BLS reports that the top 10 percent of earners made upwards of $120,000. In addition, many full time working accountants get more benefits such as healthcare, vacation time, retirement plans and more.
Accountants usually get promotion after one to two years’ time. At initial stage, after completing graduation. You can begin your career as an entry level associate. Most of accounting graduates will start their career as staff accountants, junior auditors in public accounting. And in private accounting they start their career as assistants in the controller’s office. After gaining experience and established them, their career growth can be achieved through job performance and additional educationslike earning apost-graduation degree MBA or certifications of these any CMA, CPA, CFA and CIA which are globally renowned. Some of the accountants get promoted as company executive, budget director, controller, chief financial officer or president of a corporation.
If you have practical skills about accounting and costs analyzing which all employers need and look for, then this will surely give you a much bigger and clearer career path to grow in this line in a speedy way. Your career will have stability for a long run with having a very wide knowledge and skills to sustain in this industry.
You can definitely start your work from any corner of the globe. As accounting moreover to be an important and must need for any business universally. Like even farmers, individual proprietary business to very huge high end IT companies needs the service of an accountant. So this gives accountants a good opportunity with flexibility when it comes for choosing where they want to settle down.
Accountants always have a choice in their careers in different fields whether it is public or private sectors. Also they have option to become self-employed. Accountants may have many choices to do like tax, bookkeeping, payroll or accounting services, while some of them work in government, finance, insurance, manufacturing or company management. Accountants who earn the Certified Public Accountant (CPA) designation usually open their own business. In addition to this accountants who work in an office, have opportunity of travel to audit clients, or they also work from home.
So these are the few advantages in accounting to make your career growth success. As a good accountant you can boost your career to fulfil all your dreams. Hope this article will help you to know about brighter side of accounting career path to choose and go ahead. To know more about accounting program and register visit