Accounting Careers

Accounting is a common function in virtually every organization, irrespective of size and industry/sector of operation. The function is generally concerned with documenting business transactions and preparing financial statements. The accounting field offers numerous career paths. These include financial accounting, managerial accounting, internal auditing, tax accounting, financial analysis, payroll clerking, and forensic accounting (Bureau of Labor Statistics [BLS], 2015; American Institute of Certified Public Accountants [AICPA], 2017). Though related, each of these careers is unique in its own way. A financial accountant is involved in making and receiving payments, recording transactions, and preparing financial statements. Closely related to financial accounting is managerial accounting. While a financial accountant prepares financial statements for use by outsiders such as shareholders and lenders, a managerial accountant prepares financial records for internal use. The work of a payroll clerk is to ensure employees are paid accurately and on time. The clerk prepares, processes, and maintains records relating to aspects such as attendance, hourly wages, and leave days.

Internal auditors evaluate the usage of the organization's funds, keen on identifying accounting malpractices and guaranteeing the truthfulness and accuracy of financial records. They monitor revenues and... A tax accountant is involved in monitoring changes in tax code, ensuring the organization adheres to the relevant tax regulations, preparing tax documents, filing tax returns, and offering tax advice. Forensic accounting deals with the examination of financial records mainly for criminal purposes. Professionals who work in this field must be knowledgeable in both accounting and the law. One can as well work as a financial analyst. A financial analyst's job entails offering financial and investment advice. Also, a financial analyst evaluates the performance of investments such as bonds and stocks.
One of the most fascinating career paths in accounting is internal auditing. In addition to accounting or finance education and, in most cases, Certified Public Accountant (CPA) certification, the position of an internal auditor requires certain skills. An effective auditor is one who is inquisitive, analytical, resilient, persuasive, and an effective communicator, relationship builder, and team player. As mentioned earlier, the work of an internal auditor is to evaluate the truthfulness and accuracy of financial records. Fulfilling this role, therefore, requires one to be interrogative and to have critical thinking capabilities. Furthermore, auditing work can often be taxing, requiring one to be tough. The significance of persuasive skills for…