Why Becoming an Account Is Good Career Choice

Like nearly everything in life, accounting careers have positives and negatives. But the truth is not that the career itself is good or bad but rather that it’s the right fit for certain people and not for others.

Think of it like shopping for a new car—some people seek dependability and safety while others crave performance and speed. Neither option is inherently good or bad, but each vehicle is a better choice for different types of people.

What you’ll think of an accounting career depends on your personality, working style and life priorities. Once you understand the possible pros and cons of an accounting career, you can make an informed decision.

So, is accounting a good major for you to pursue? Take a look at these pros and cons of accounting careers to steer yourself in the right direction.

Accountants play an incredibly important role in every organization, making this a great career for anyone who wants to work in an important position. Salaries for trained accountants are quite high, which means this is an excellent industry for anybody looking to maximize earning potential.

5 Things I Wish I Knew: Is accounting a good career? Should you be an accountant?

Is becoming an accountant a good career choice?

Yes, accounting is a good career choice. According to the Bureau of Labor and statistics, accountants make an average of $71,550 per year. Most people in this position need a bachelors degree to begin their career, and there are jobs available for accountants in a wide variety of professional industries. Accountants typically work in offices, and many work remotely. This occupation has seen steady job growth for decades, and there are also multiple opportunities for professional development and advancement within the industry.

What does an accountant do?

Accountants are mathematical and logical thinkers. They ensure that companies and organizations function with efficiency by collecting and maintaining accurate financial records. There are a wide variety of job types and responsibilities for accountants, and duties range from bookkeeping, data collection, and data storage to data analysis, auditing and budget design.

The purpose of all accounting positions is to maintain accurate financial reports for developing transparency, reducing spending and increasing profitability.

Pros for working as an accountant

Here is a list of four positive aspects of working as an accountant:

1. Potential for career advancement

Accounting is a career with a high potential for upward mobility. This is the availability to move through job tiers or job positions with greater perks or benefits. There are multiple entry-level rolls for accountants, including staff accountants, junior accountants and auditing associates. Once someone shows their skills in these areas, they can move up to mid-level accounting jobs, senior-level accounting jobs or top tier positions.

Accounting is all about tracking spending and saving money. As an accountant gains entry-level experience, they also gain plenty of data and figures to help prove why they should move into higher-level roles. Some mid-level and senior level accounting positions include auditing managers, accounting analysts, tax managers and audit directors. After gaining experience and sharpening your skills, its also possible to earn a top-tier accounting role such as the Chief Financial Officer (CFO) of a company.

2. High salary

3. Relevant to all industries

Accounting consists of systematic record-keeping, strategic analysis and the review of spending options and money saving practices. Accountants report on the financial positioning of a business, and they provide crucial details for people in charge of operations within a company or organization. Nearly all businesses need accounting professionals—at multiple levels—to collect and store financial information, ensure compliance and a report on financial health.

4. Availability of jobs

According to the Bureau of Labor and statistics, there are approximately 61,700 new jobs projected for accountants through the year 2029. This represents an average of 4% growth in this industry. As there are currently over 1.4 million accountants in the United States, there are a significant number of jobs available for accountants. The Bureau of Labor and Statistics also states that certified public accountants (CPAs), and those who have earned masters degrees in accounting or a related fields, have even higher job prospects availability.

Drawbacks of accounting careers

Here is a list of three possible drawbacks of working as an accountant and how to overcome them:

1. Daily routine may lack creativity

The skills that an entry-level or mid-level accountant typically uses involves math, statistics data collection and analysis. An accountants daily routine likely includes capturing data, creating reports and comparing facts and figures with data from previous years. The job may not provide many opportunities for people to be expressive or creative.

If you are a very mathematical and logical thinker, this may not be a problem for you. However, if you enjoy math and numbers, but also have a creative side, you can try to boost the expressive elements of your career by getting creative while designing charts and other visual material for reports, or you can reach out to people in leadership to see if there are any ways to incorporate innovation into your role. There are some accounting careers that involve Innovative design and strategy regarding money management, project funding and the development of cost-saving ideas.

2. Becoming CPA takes time

A CPA is a certified public accountant, and many mid-level or senior-level accounting positions prefer or require applicants to have their CPA license. The requirements for earning this license vary from state-to-state, but all state requirements involve a significant investment of time and energy. Becoming a CPA usually requires a person to have a bachelors degree from an accredited school or university. Additionally, this person may need between 12 and 30 course hours of accounting and business credits, and they must also pass a national CPA exam. If you need to earn an income before you become a CPA, consider working an entry-level accounting job while attending classes part-time.

3. Requirements for continuing education

After someone passes their CPA exam, they must comply with annual professional development requirements in order to maintain their license. These requirements vary from state-to-state, but regularly include a minimum number of contact hours or continuing formal education, ethics courses and attending other technical or compliance-related seminars or completing learning modules. Also, while CPA exam scores are transferable from state to state, if you plan to move, you will need to reapply for your CPA license in that state.

While the rules for continuing education are stringent, many people make the best of the situation by attending large conferences to meet the requirements. These conferences are sometimes weekend-long or week-long events that include guest speakers, activities and offer chances for people to expand their professional networks.

7 accounting careers to consider

Here are seven accounting careers for people to consider:

Primary duties: A staff accountant is an entry-level accounting professional. They collect financial data, maintain ledgers and prepare budgets and reports. They typically work under the leadership of a certified public accountant, and their duties revolve around maintaining accurate bookkeeping records.

Primary duties: Financial accounting is an entry-level or mid-level accounting position. They collect data and design advanced financial reports. They also review documents from staff accountants, to ensure that all reporting is accurate and abides by tax law. Additionally, they assist internal or external auditors by providing financial information and metrics.

Primary duties: Accounting managers are people who lead groups of entry-level or junior accountants. They work for companies to ensure compliance and assist in regulatory reporting. They review data and reports written by junior accountants, and prepare financial statements on behalf of the companies they work for.

Primary duties: A certified public accountant, also known as a CPA, is a licensed accounting professional. This person is responsible for advising companies and developing plans to reduce costs and reach their financial goals. They collect data and metrics from staff accountants or financial accountants and analyze and interpret reports to identify ways to increase profits and reduce spending.

Primary duties: Auditors are people who work in the accounting or financial department within a company. They review documents and data relating to a companys economic position to ensure accuracy, transparency and compliance with tax law. Auditors often work for private companies and act as consultants to help external businesses reduce their budgetary costs and increase profit margins.

Primary duties: A tax accountant is someone who advises companies or individuals on the most lawful and profitable ways to file their federal and state income returns. These people collect and analyze data, input data and review tax law.

Primary duties: A corporate controller is a high-tier accounting professional. They manage groups of entry level or mid-level accountants and review financial records and reports to design year-end statements and larger budgetary plans.

FAQ

What is the best career in accounting?

With this in mind, here are the top seven accounting careers for 2022 (with salary estimates from Glassdoor):
  1. Auditor. …
  2. Information and Technology Accountant. …
  3. Senior Financial Analyst. …
  4. Forensic Accountant. …
  5. Managerial Accountant. …
  6. Controller. …
  7. Chief Financial Officer (CFO)

Why accountant is the best job?

You Will Be In a Profession That Is Respected and Known for Integrity and Ethics. Accountants are respected business professionals, and accounting is known to be one of the most trustworthy professions. You will become a trusted advisor to others where you work, and your opinion will matter in making business decisions …

Is accounting a good job for the future?

According to the Bureau of Labor Statistics, entry-level candidates with a bachelor’s degree in accounting earn an average of just over $65,000 annually. And with a 13 percent projected growth rate, and an estimated 1.6 million jobs by 2022, the future for accountants and auditors is very bright, indeed.

Is accounting a high paying career?

The median annual wage for an accountant is well above the national median average for occupations. The top-paying industries for accountants include finance and insurance, management of companies and enterprises, tax preparation, and the government.

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