Often, our clients beseech us for our educational services so that they may pursue a lucrative career in accountancy. According to a recent research, accountanting managers can expect total compensation as high as $105,000! Hence, it's a highly sought after position and career track.
Probably, you must know that there are different careers available in Accountancy after you have completed your graduation. If you got good marks on your CPA examination then there are good chances of getting a position as a Professional Accountant.
Accounting in itself is just like an art which involves analysis and interpretation of financial data. Can you believe that it's an individual or businessman everyone needs accounting one way or another way? Businessmen use it mostly and even individuals use it in their daily life. For example, when you calculate or evaluate any of your expenses or monthly income or any other financial information, that's all considered in accounting. Accounting is plays a vital role in our life and that's why considered as indispensable business tool. Big companies, small businesses as well as individuals need accounting.
TYPES OF ACCOUNTING CAREERS
There are different types of accounting careers available for you to choose from. In starting, you can be an industrial or private accountant, where accounting is limited to one firm. You will be provided one employer under you and you have to give best service and skills to your employer. So that employer will remunerate you in turn.
Then secondly, you can land in serving as public accountant. If you have passed CPA then you can serve general people. Then, you will be known as Public accountant once there is connection or relationship between practitioner and client. Even those accountants who are not certified can practice it. After that, CPAs join partnerships and they have wide scope of connecting with the clients across the globe.
Another career in Accountancy is to be a Government Accountant. Here, you will be working for Government that can be on local or national basis. The accounting methods used conventionally are mostly used in the accounting of government. Double entry system and journals using ledgers will be used. Most of the government accountants focus on the rendering service. Government services are not particular as they are mostly for public to serve them.
Another career in Accountancy is Fiduciary accounting. Here, accounting relies on trust. Any person who is trustworthy, executor or administrator can do Fiduciary accounting. You will have to just keep important records and also prepare some reports in this type of accounting. These Fiduciary accountants can be authorized by courts to carry their task.
Last but not the least you can be a national income accountant. Here you use the social and economic concepts and not the concept of business entity. Your task here is to provide a public estimate of purchasing power of the nation.
Till now, you came through different career options in accountancy. So finally they are: Industrial or public accounting, public accounting, government accounting, fiduciary accounting and national income accounting. Now it depends upon you to wisely choose that career which fits you or you specialize in any. You can determine the path which you have to choose while you are studying and it will help you further.
For more informative articles like these, do check out our career blog.