Why accounting remains to be a great study and career choice in 2017
Accounting is often referred to as the ‘language of business’ that is responsible for measuring the results of an organisation's economic activities. Accountants convey this information to a variety of users, including investors, creditors, management, and regulators.
Accountants produce data that help companies make important decisions. Without accountants, it would be impossible for businesses to accurately measure performance, and the decision-making process would be simply guesswork. A complex field, accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting.
So, what makes accounting such a great career choice?
1. Great job security
Business and accounting go hand in hand. Without accounting, there is no business. Therefore, it’s no surprise that with as the business world expands so do the opportunities for the careers of accountants.
2. Climb the corporate ladder
Accountants are presented with more and more opportunities to make their way to the top of the corporate ladder. With the rise of the Chief Financial Officer (CFO) companies and their recognition for broader business knowledge, it’s no surprise that many businesses look to promote their CFOs to CEOs. A few examples in the US companies who have made the CFO to CEO transition include, Applebee’s and Krispy Kreme.
3. Study accounting for its diversity
There are many different fields available to students who pursue an accounting qualification. You could go into internal auditing, cost accounting, forensic accounting, management accounting – the list goes on and on! With a qualification in accounting you have a range of options at your fingertips.
4. Work in any industry
Accountants record, classify, summarise, interpret and communicate the financial information about a business. You can apply this to any company, in any field, industry, sector – just name it!
5. Study accounting and move into other areas
Accounting serves as the financial backbone of any business and an accountant role will see you interacting and forging relationships with many different departments of a company. Your diversity within the company will make it easy for you to transition into another department if you ever feel like a change.
A qualification in Accounting will provide you with practical training in the many areas of the accounting discipline. It’s useful for employees who currently need to perform accounting duties such as introducing and maintaining accounting systems, reporting on business performance, and preparing financial statements. The qualification is also designed for those who are seeking new careers in accounting.