Is Accounting a good career choice for the future?

A career in accounting is ideal for professionals who want to practice their analytical and organizational skills. If you enjoy analyzing numbers and solving financial problems, you may find your role as an accountant very satisfying. And if you value job stability and growth opportunities, consider what accounting can offer. The study of accounting prepares students for many lucrative and exciting finance and business careers with optimistic employment prospects.

Accountants work for private companies, government agencies and all types of businesses to review, evaluate and record important financial information. Their duties include preparing tax returns, preventing fraud, auditing companies, advising businesses and clients on financial best practices, and ensuring financial records and documents are accurate and up to date.

To become an accountant, you’ll need to get a degree in accounting or a similar field, then decide how far you want to continue your studies. In this article, you will find all the relevant information you need to build a career in accounting.

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Is accounting a good industry for the future?

• According to the U.S.Bureau of Labor Statistics (BLS), 4,444 accounting jobs are expected to grow 6% from 2021 to 2031.
• Accountants are always in high demand due to the growing global economy.
• Organizations and corporations rely on accountants to accurately track financial transactions, which helps promote good financial health.
• An accounting degree provides a strong foundation for many career positions, including auditing, public accounting, business analysis, financial management, and more.
• College graduates ready to begin a career in accounting or a neighboring field can benefit from a relatively clear career path and above-average earning potential.

Types of accounting degrees

There are a number of degrees that can help prepare you for a career in accounting. Remember that earning an advanced degree can set you apart from others and increase your chances of landing a higher-paying job.

Associate Degree in Accounting

Bachelor’s Degree in Accounting

Pros of an accounting career

There’s a lot to love about a career in accounting. Learn more about a few of the perks you can expect by pursuing this profession.

1. There is a clear career path

If you study accounting, you will learn clearly defined practical skills that employers need for a particular set of roles. This gives you a much clearer career path than those who choose to study English or Philosophy, where the potential career paths are more open.

Angela Christian, a financial controller at Burkland, says, “I’m a highly analytical person, and I’ve found that I like to follow a step-by-step process.”

“Accounting is a perfect field for those who value having clear direction for their career development. ”

If you choose to pursue accounting, you’ll have a pretty good idea of ​​where your career will take you. While there are many different types of accountants in the field, your skills and job responsibilities will generally be the same, meaning you’ll know what you’re signing up for.

2. This is a stable and growing employment sector

“Nothing is certain except death and taxes. “This quote isn’t just an old quote from Benjamin Franklin: it speaks to the importance of taxes as the foundation of life in America. In other words, accounting plays a quite important role.

The accounting profession will not disappear. Almost every business needs an accountant or the services of an outside accounting firm, and even the average person has reasons to hire an accountant from time to time. As long as businesses exist and people need help paying their taxes, there will be a need for accountants.

3. You can work wherever you want

In some fields, you may have to uproot your life and move to an industrial hub to have a chance at finding work. This is not necessarily the case for accounting work. Although opportunities naturally tend to be concentrated in major population centers, there is still a need for accounting professionals elsewhere.

From farmers to government organizations to software development companies, it seems like everyone can use accounting services. This gives accountants great flexibility when choosing where they want to set up shop, especially as they continue to gain experience.

Nate Hansen, CPA and founder of Superfast CPA, says: “Every type of business needs an accountant, and so you can find a way to work in any industry or type of business you want.”

4. There are many opportunities to help others

While accounting may not be the first profession that comes to mind for those who thrive on helping others, the role still has its moments of potential that give you satisfaction.

“I really enjoy helping individuals and businesses better understand their taxes, how they are calculated, what factors affect taxes, and how they can maximize tax efficiency”.

Helping individuals and businesses better manage their finances so they can confidently take the next steps is great. After all, who doesn’t like being a trusted expert?

5. Has business potential

The dream of becoming your own boss still exists in the accounting profession. If you have an entrepreneurial spirit, starting an accounting firm can be a great way to advance your career.

“Many accountants open their own practices, or even their own businesses, unrelated to accounting,” Hansen says.

As an accountant, you become familiar with the inner workings of running a business. So this is a huge advantage if you decide to start a side hustle or start your own business. Of course, not everyone wants to be their own boss. But if that aligns with your career goals, it can be a major upside of an accounting career.

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Cons of an accounting career

Like any industry, working in accounting can have its downsides. Here are some of the less glamorous parts of the accounting profession. Hopefully seeing where you land can help you decide if it’s the right solution.

1. The potential demands of ongoing education

Although successful completion of an accounting program establishes a solid career foundation, the field is not fixed in time. The laws and regulations that affect your accounting work may change, and for that reason, you will likely need more than a bachelor’s degree and an accounting degree to keep up.

To be successful in your career, you will need to plan on pursuing some form of continuing or higher education to keep up with these changes. Many accountants choose to earn professional degrees such as Certified Professional Accountant (CPA), Certified Management Accountant (CMA®), and Certified Financial Accountant (CFA®).

Obtaining these additional certifications requires a significant amount of time and effort, and maintaining them may include meeting additional continuing education requirements.

2. The job seems boring

Accounting is not often considered an attractive field. “Honestly, it can be boring,” Hansen said. “There will certainly be times when you have to do tedious or thoughtless calculations in Excel®, but this job also involves a lot of problem solving and evaluation, which can be challenging and interesting.

” Learning more about the day-to-day work of an accountant can help you determine whether the job interests you. See “What do accountants do? ” Look at life behind the ledger” for more perspective.

3. It’s a busy season

Accounting is generally a standard 9am to 5pm job, except at certain times of the year when deadlines are approaching. The most important deadline for tax accountants is April 15. For most tax accountants, the peak season starts after Tet until April 15.

Leenhorst describes these stages as “a series of deliverables,” further complicated by the fact that customers tend to provide information at the last minute. “While these dynamics can cause stress and challenges, there are steps that can alleviate this, such as setting target dates for customers to submit what is needed and equipping them Useful tools, such as checklists, to make sure you get everything you need is necessary to get the job done,” Leenhorst said.

During the busy season, long days and working weekends become the norm as accountants try to get their clients’ finances in order. But the positive side is that things slow down significantly after this period.
In this sense, the accounting profession offers variety in the annual calendar.

4. Work can be stressful

When you are responsible for the finances of an organization, there is bound to be some pressure. But this pressure and stress can affect your overall mental health and you should pay attention to it. Stress levels have a lot to do with an accountant’s workplace and the specifics of their role, but it also depends a lot on their personality and natural tendencies.

Try to honestly evaluate your attitude to pressure and heavy workloads. If you don’t get stressed easily or don’t mind a little worrying, then an accounting job might be right for you. If you know you’re prone to burnout, an accounting career may not be the best fit.

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Conclusion

Learning accounting can be a daunting task, but the rewards of mastering this skill can be invaluable. With Entri, you can learn accounting in an effective and efficient way to maximize the benefits of mastering this skill. Entri offers comprehensive and engaging courses that make learning accounting easier than ever before. With Entri, you can become an expert in accounting and unlock many potential opportunities. We provide

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