Once you have graduated as an accountant you are equipped with a broad sense of business knowledge and thorough understanding of various accounting concepts and accounting standards. Your degree enables you to identify and understand what is posted in the books of accounts of an entity or organization and whether the same comply with the accepted principles of accounting.
An accountancy degree equips you with the following skill sets
- Accounting and costing concept clarity
- Interpretation and application of accounting principles and standards
- Understanding the financial statements of an enterprise
- Understanding cash flows
- Tracking of incomes and expenditures
- Understanding movement of numbers in books of accounts
- Ability to understand financial markets
- Cost control
- Working capital Management
- Inventory control
- Computer skills (operating accounting software, Data MIS, MS-Office)
Getting your Certified Public Accountant (CPA) license is a big advantage when it comes to prospective job offers. Also being well versed in the International Financial Reporting Standards (IFRS) is also very advantageous. This is especially because many companies are now required to adopt IFRS for the preparation and presentation of their financial statements.
An accountant has to be really good with numbers and always be on top of his game since numbers and figures are always fluid and changing. An accountant has to keep track of the expense and income related numbers and keep an updated book of accounts at all times. An accountant’s workload and job stress usually goes into overdrive when it is time for preparing the company financial statements, audit report and the presentation of the same before the board of directors and shareholders (In case of a public company).
During finalization of books of accounts of an organization there is always reclassification taking place between the different heads of the Balance Sheet and Income-Expense Statement. A good accountant will shine if he has good number crunching skills and is diligent and patient.
With an accounting degree you can look at pursuing any one of the following job profiles that most interests you
- Financial planner or analyst
- Financial research analyst
- Stock broker
- Working capital consultant
- Management consultant
- College or high school educator
- Payroll processor
- Free lance accountant
- Tax preparer or IRS Investigator.
This list is not exhaustive as there are a newer positions being created each day especially with the number of new businesses coming up.
Finally to end this article, let us look at some of the typical organizations that hire or will need the services of an accountant.
- Federal Government
- Investment houses
- Public or Private companies
- Broking firms
- Accounting firms
- Certain law firms (if you are a qualified CPA)
- Partnership firms
- Warehousing companies for inventory control
An accountant plays a very vital role in any industry since their services are essential in maintaining books of accounts and controlling and managing costs.
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