Accounting has a reputation for being mainly concerned with income tax preparation and other related stuff.
Allegedly, earning a degree in this niche would entail you being locked in a room, poring through financial documents until you go home for the day, only to repeat the procedure the next day.
The truth, on the other hand, couldn’t be more different.
In reality, a degree in accounting opens the door to some of the most exciting careers across the industries.
Keep reading to learn more about growing your accounting career.
What is The Accounting Job Outlook?
According to the US Bureau of Labor Statistics (BLS), jobs in accounting are in high demand.
From 2020 through 2030, an average of 135,000 job opportunities for accountants are expected per year.
Many of those openings are projected to be caused by the need to replace workers who change occupations or leave the labor force. The battle for jobs at the most famous accounting and business firms will be fierce. Candidates with a master’s degree in accounting will have an edge.
What Jobs Are in Accounting?
Jobs in accounting are plentiful; and on the rise. With this in mind, here are the top ten accounting careers for 2022:
- Finance manager
- Financial analyst
- Sports Accountant
- Forensics Accountant
- Tax Consultant
- Budget Analyst
The job requirements of a CFO vary based on the firm, but there are a few essential areas where all CFOs should thrive. These include financial management, performance, company strategy, and risk management.
CFOs are cross-functional leaders that assist businesses in making sound financial and business decisions. They develop revenue strategies, identify financial risks and opportunities, and much more.
Many top-earning CFOs have numerous credentials, so if you want to be a CFO, you should consider getting your CPA, MSA, or MBA.
Consider a finance manager a “financial doctor” for any firm. They are responsible for a company’s financial health. They conduct research, use analytics to make the best judgments possible, and use reporting to track previous performance over time.
You would be entrusted with developing financial plans that ultimately lead a company to long-term prosperity.
These professionals delve deeply into the investment possibilities available to both private persons and businesses, assisting others in making the most educated judgments possible given the current conditions.
These professionals form the backbone of any organization because they must always stay current on all market activity and industry developments.
An investment’s trajectory can change as very quickly, and if a financial analyst slips just for a moment, it can cost their customer a lot of money.
In general, they aid in evaluating a company’s internal financial operations and its financial condition – which means they wield enormous authority over whoever employs them.
A controller manages a company’s accounting department and controls high-level financial strategy.
A controller’s primary responsibilities include financial statement maintenance, payroll, budget preparation, general ledger maintenance, tax compliance, and other functions.
To become a corporate controller, you must first have experience in company forecasting and tax management.
CPAs, also known as Certified Public Accountants, have a lot of flexibility regarding who they work with. They can do regular accounting responsibilities or advance their careers by acting as business advisors.
They are primarily in charge of business finance and tax preparation tasks. However, in many cases, they are important in developing the types of financial strategies that will help firms succeed in the future.
A profession as a sports accountant is by far one of the best options for sports fans anywhere. It’s a position that allows you to be intimately involved with the financial management of a sports team and payroll operations.
This professional path also provides a high level of flexibility. Sports accountants can work for a company as employees or as independent contractors. Regardless, this is the method to use if you’ve ever wanted to know how much money your favourite player makes.
An auditor examines a company’s financial records for accuracy and dependability. An auditor’s function may differ based on the firm or the type of auditor – internal, external, government, or forensic. An auditor’s tasks may include:
- Compiling and evaluating financial accounts to ensure they conform with laws.
- Recommending best practices to management.
- Ensuring taxes are filed correctly and paid on time.
Forensic accountants, believe it or not, are one of the most in-demand positions in law enforcement today. As the name implies, they investigate instances of fraud and use their diverse accounting talents to deliver knowledgeable legal judgements on specific cases.
This is an excellent opportunity for persons who are meticulous in their work, as any conclusions or recommendations they make must be able to stand up in court. A court or attorney won’t care if you made a calculation error, but they will surely use it as a reason to hold your feet to the fire.
In contrast to a tax accountant, who files state and federal income taxes on behalf of a client, a tax consultant is a bit more personal. You’d be poring over a company’s financial papers to devise the most effective approach for saving your client as much money as possible.
Again, this is not necessarily an entry-level profession; you would most likely begin as a tax accountant first. However, if you demonstrate your worth, you may be promoted to a position where you can provide more strategic counsel.
It’s crucial to remember, however, that all tax accountants must hold a current CPA license in the state where they work.
Finally, we get at the role of a budget analyst, which has a somewhat convoluted job description.
Businesses must spend money to succeed, but determining that amount without overspending or underspending is challenging to say the least.
That is what budget analysts do: they review the current budget and look for ways to save money where it is superfluous and spend the remaining funds more efficiently to increase profits.
In addition to evaluating financial department reports, they monitor where money is going, provide frequent reports on how the firm is performing, display financial data in an easy-to-understand format, and more.
They can frequently find work in private firms and nearly every branch of the federal government.
On the one hand, it’s common to believe that a degree in accounting entails a lifetime of work involving “number crunching” and the like. Still, it has so much more to offer.
Few other jobs provide as many choices, from starting your accounting firm to working for the federal government to working for some of the world’s largest corporations.
Given the favorable job outlook in accounting, graduates will be well-positioned for careers as professional accountants in public practice, business, government, and not-for-profit organizations.
Are you ready to accelerate your career? Develop strong written and spoken communication skills while learning the conceptual foundation for measuring and reporting on an organization’s financial health.
Take the first step in advancing your career in accounting with UNZA’s MBA in Finance and Accounting degree.
Learn more about the program by downloading our prospectus. Don’t hesitate to contact us for any additional questions as we’ll be more than happy to help you.