Many students are encouraged to go into business or accountancy when they’re choosing possible career paths as seniors. This is because many people are of the opinion that careers in these industries generate more wealth.
This is true, to a certain degree. If you’re an aspiring accountant, you get better opportunities and offers. These will be affected by your choice of industry. You might want to work with oil, so a company like Copas is your best bet. Regardless of these matters, it doesn’t change the fact that your salary will be better than most.
Before excitement sets, you have to remember that the pay comes with requirements and responsibilities.
What It Takes to Become an Accountant
Like in most careers, accountancy favors those with a diploma. This means having to spend four or more years in university, attending and passing all of your classes to earn a Bachelor’s degree in accountancy, or anything related to it.
Not only that, but you have to juggle your studies with co-curricular activities that give you experience in this field. Many job postings that are open for fresh graduates prefer applicants who already have experience as accountants. Paid or unpaid internships are both helpful, and so are part-time jobs as accountants in small businesses.
Those who missed their chance to take accountancy in university can try their hand at other alternatives. Firms like the Association of Accounting Technicians provide applicants with the necessary knowledge and training needed to become a professional accounting technician, as their name implies.
It’s also possible to become an accountant after one earns a Master’s degree in accountancy. This gives aspiring accountants the opportunity to earn the hours as well as the knowledge required to take the test to become a Certified Public Accountant (CPA).
If none of the options is possible, there are jobs available in the market for those who wish to work accountancy-related jobs. These include business or financial analysis, budgeting, and planning for businesses.
What Accountants Do
If you’ve dedicated yourself to becoming an accountant, it’s time for you to familiarize yourself with what accountants have to do to earn their fat paycheck.
Within an organization, an accountant functions to keep track of all the financial records. These records have to be under a lot of scrutiny, since they have to do with money. Hence, the need for accountants to know more than the figures on sheet.
Accountants also have to take note of company budget and cash flow. They have to note if expenditures fit the budget. They have to keep track of any misstatements and make a report on those alongside liabilities and assets.
From here, their responsibilities branch out. A pertinent role of most accountants is handling the payroll. This means keeping track of staff productivity and requirements for pay. They are also in charge of handing out salary come the end of the month.
While doing all of these, accountants have to follow the ethics of accounting. These are rules set in place so that accountants can perform their job well while also following the rule of code: that is accomplishing everything morally.