Finance

How to Choose the Perfect Accounting Career Path for You

Accounting careers are highly in demand today. Apart from mathematical and financial skills, today accounting requires technical skills and communication skills also. Business knowledge, technical knowledge and even leadership skills are prominent. Employers look for expert accountants who can prove their proficiency in various domains.

Accountants of an organization play a key role in driving business through accurate and orderly management of finances. Various Accounting job roles are in demand and customizable work environments will be trends in the accounting industry in 2021. In this blog, you will read about the most popular accounting career options you can pursue in future.

If you wish to become a professional accountant, you can build expertise in accounting with continuous learning and practice. Accounting Courses can prepare you to gain knowledge and insights to kickstart your career. Read below to know more about the job role, qualifications, and skills required to achieve an Accounting career.

Top Accounting Job Roles in Demand

Based on the qualifications and skills required, you can choose the job role you want to pursue and prepare for them accordingly.

  1. Auditor

We are all familiar with the term ‘Auditor’. So who is an Auditor, and what is the job role in the Accounting and Finance sector? An Auditor is a specialist who evaluates and analyses the accounts of companies and organizations. Auditing is the process of assessing financial documents to ensure the validity and legality of different financial records. Below mentioned are the qualifications and the job role of an Auditor.

Qualifications for an Auditor:

  • Bachelor’s degree in Accounting or
  • Master’s degree in accounting or an MBA or
  • Certification in computer accounting software

The job roles of an Auditor are:

  • Review the accounts of companies to ensure the legality
  • Analyze possible risk aversion measures and cost savings
  • Examine company accounts and financial control systems
  • Ensure that assets are safeguarded
  • Prepare reports, commentaries and financial statements
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Apart from the eligibility mentioned above, there are also several skills required by an Auditor to expertise in the career. Some sought after skills that an Auditor needs are:

  • Critical thinking
  • Communication skills
  • Change management skills
  • Risk management skills
  • Organizational skills
  • Conflict resolution skills
  1. Financial Accountant

The Financial Accountant is the specialist who controls the entire financial management system of a business. Every single transaction is supposed to be recorded by the financial accountant. Moreover, they are also supposed to make strategic plans to make better financial decisions for the company. From recording money transactions to implementing various strategies, a Financial Accountant must possess several skills. Read the following skills sets and the qualifications to attain this job role.

Qualifications for a Financial Accountant:

  • Bachelor’s degree in accounting, finance, business, economics, statistics
  • A Master’s degree in accounting, finance, business, economics, statistics
  • Three or more years of relevant experience is typical of accountants entering a financial analyst position.

The job roles of a Financial Accountant are:

  • Maintain financial records
  • Prepare monthly, quarterly and annual financial statements
  • Analyze and report financial data
  • Work on budgeting and auditing tasks
  • Prepare, examine and analyze financial reports
  • Prepare and submit tax documents.
  • Create compelling and cost-efficient financial practices

Apart from the eligibility mentioned above, there are also several skills required by a Financial Accountant to expertise in the career. Some sought after skills that a Financial Accountant needs are:

  • Analytical skills
  • Organization skills
  • Critical thinking
  • Communication skills
  • Adaptability skills
  • Time Management
  • Industry Knowledge
  • Spreadsheet Proficiency
  1. Tax Accountant

A Tax Accountant Professional is responsible for preparing, submitting and managing tax statements and returns for businesses. The candidate is also responsible for offering knowledgeable tax advice to clients and across company departments. They must also provide general ledger system support regarding functional issues of financial and management reporting. Read the following skills sets and the qualifications to attain this job role.

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Qualifications for a Tax Accountant:

  • Bachelor’s degree in accounting or relevant field.
  • Good understanding of MS Office and accounting software.
  • In-depth knowledge of accounting and bookkeeping processes.

 The job roles of a Tax Accountant are:

  • Prepare estimated federal and state income tax payments
  • Perform year-end accrual review and prepare the tax provision
  • Prepare various federal and state income tax returns
  • Prepare different personal property tax returns
  • Maintain our tax preparation system.
  • Keep abreast of current developments in the tax area.
  • Provide an information source in the tax area within the company.

Apart from the eligibility mentioned above, there are also several skills required by a Tax Accountant to expertise in the career. Some sought after skills that a Tax Accountant needs are:

  • Communication Skills
  • Numeracy
  • Time management skills
  • Commercial awareness
  • Problem-solving skills
  • Attention to detail
  • Organization
  1. Financial Analyst

A Financial Analyst is a professional in financial planning who is responsible for achieving various business objectives. A Finance Analyst should produce regular reports using financial data and work with the finance team. Read the following skills sets and the qualifications to attain this job role.

Qualifications for a Financial Analyst:

  • Bachelor’s degree in Finance, Economics or Mathematics
  • Master’s degree in finance subjects or MBA
  • Certification in Finance courses

 The job roles of a Financial Analyst are:

  • Analyze the financial data of an organization
  • Analyze current financial performance and trends in the financial sector
  • Prepare and communicate the insights of financial trends in business
  • Explore and learn different investment opportunities
  • Develop financial models and providing financial forecasts
  • Work with hedge or mutual funds to make investment decisions
  • Specialize in risk assessment in the financial strategy of the business

Apart from the eligibility mentioned above, there are also several skills required by a Financial Analyst to expertise in the career. Some sought after skills that a Financial Analyst needs are:

  • Research Skills
  • Analytical Skills
  • Communication Skills
  • Mathematical Skills
  • Leadership Skills
  • Decision-making Skills
  1. Management Accountant
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Management accountants are specialists who work for public companies, private businesses, and government agencies. The job role includes managing company investments, budgeting, strategizing, and decision making. In addition, management accountants analyze critical financial information to optimize financial planning in an organization. Read the following skills sets and the qualifications to attain this job role.

Qualifications for a Management Accountant:

  • A bachelor’s degree in accounting, statistics, finance, business or a related field
  • Master’s degree in accounting, statistics, finance, business or a related field
  • Experience is typical for entry-level budget analyst positions.

 The job roles of a Management Accountant are:

  • Work for the public, private and government agencies
  • Manage company investments, risk management and budgeting
  • Plan and strategize on the company’s financial investments
  • Supervise lower-level accountants who handle basic accounting tasks
  • Track tax liabilities.
  • Forecast and presents financial strategies to senior management
  • Identify trends and opportunities for financial operations

Apart from the eligibility mentioned above, there are also several skills required by a Management Accountant to expertise in the career. Some sought after skills that a Management Accountant needs are:

  • Predictive Skills
  • Analytical Skills
  • Communication Skills
  • Technical Skills
  • People Management Skills
  • Decision-making Skills

To Conclude:

In this blog, you have read the top 5 popular Accounting careers. However, there are several more career options you can pursue with Accounting certifications. So which job role suits you? Build your skills to choose the perfect accounting career path for you!

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