Accounting is a popular degree among those aspiring to land a rewarding job. Aside from the fact that it pays well, every business, big or small, requires the services of an accountant. In addition, accounting graduates can also work for private clients, government offices, or as financial analysts.
This article shows some of the career options there are for one with an accounting degree.
Accounting graduates are likely to become accountants or auditors of businesses. Regardless of its size and nature, a company needs accounting people to keep and examine financial records, prepare payroll account, tax-related documents, detailed audit reports, and other financial documents needed by the business. Accountants ensure that all transactions are recorded and that these comply with prevailing laws and regulations.
A financial representative usually works in the financial services industry. In this type of work, the accounting graduate is tasked to offer financial advice to clients. The primary responsibility is to sell bank products and services. This is a career path for people who like to work in direct sales. In addition, a financial representative may also be assigned in customer service desk. Hence, it is expected that a financial adviser is knowledgeable about the company’s policies and procedures.
Another career option is underwriting. An underwriter in the insurance industry, in particular, evaluates the risks associated with insuring a person or asset and uses this information to determine the insurance policy’s premium pricing. Among the types of insurance that underwriters help set a price of are – life insurance, property insurance, and health insurance.
A loan officer or administrator acts as a liaison between the bank or the lending entity and the loan applicants. The main task of loan officers is to come up a loan arrangement that serves both the best interests of the financial institution and the loan applicants. This job may not just require an accounting degree but also a comprehensive knowledge about various loan types that the bank is offering and the conditions or requirements that applicants need to satisfy.
With an accounting degree, one can land on a job at the Internal Revenue Service as an investigator or agent. The IRS agent examines business and corporate records to ensure they meet tax liabilities. An internal revenue investigator needs analytical skills as many companies would have very complex tax returns and financial records.
Another career path for accounting majors is financial analysis. Financial analysts provide comprehensive understanding of the financial viability of a given investment opportunity. A so-called chartered financial analyst (CFA) can find a job in investment firms, insurance companies, and mutual and pension funds. To become a financial analyst, one has to achieve more than an accounting degree because of the need for research skills and knowledge about various sources of financial data. In fact, a financial analysis has to learn all aspects of business operations and should be adept in determining potential trends and likely directions of the company.
An accounting degree can lead you to various career options, and depending on the type of work, you may or may not need to pursue further studies. In many instances, however, one has to complement his training in accounting with analytical skills and a good sense of how the business operates in the company, which you choose to become a part of.