Accounting is one of the most promising and in-demand professions around the world. The job field is not a profession that is going away anytime soon since every business establishment needs an accounting team!
Accounting has experienced double-digit growth in the last three decades. Not just that, The Bureau of Labor Statistics (BLS) has projected Accounting to grow at a 10% rate till Financial Year 2026.
Gone are the days when Accounting was done on paper! Today, the accounting industry is rapidly evolving with the advent of the latest technologies. Market-disrupting technologies such as Machine Learning, Automation, Adaptive Intelligence & Minibots are the new normal in the Accounting niche. Accountants today are more tech-savvy and have technology at their tips.
What Kind of Companies Hire Accountants?
Accounting offers an attractive job profile in organizations of all shapes and sizes. Whether it's Healthcare, Information Technology, or Marketing, every organization necessitates the services of accountants. As a practising accountant, you may find a stable & growing career in sectors such as:
- Bookkeeping, Tax Preparation, Accounting & Payroll services
- Company Accounts Management
- State and National Government
- Accounting Consultancy Services
Through thick and thin, companies depend significantly on accountants to achieve business success. Businesses can analyze their financial aspects, achieve optimal financial performance, take smart & financial-driven decisions towards excellence.
How much salary can an accounting professional earn?
Accounting offers a lucrative salary to professionals and caters to the salary expectation of young minds. The salary of accountants is wide-ranging. It depends on the experience, region, specialization, and organization that is hiring. As per BLS, the average starting salary of accountants is over $75,000. The number is attractive enough for freshers and early professionals.
Advantages of a Career in Accounting
With ever-changing tax & finance laws, the need for competent accounts will always be on the rise. Let's move ahead and explore the advantages of a career in Accounting:
- Always Stay In-demand:
The accountant's job profile is not entirely dependent on how the economy is doing. Whether the growth is slow or the GDP is booming, there would always be a need for accountants. From governments, start-ups, small and medium businesses (SMBs) to large enterprises, everyone needs accountants for managing finances, bookkeeping, financial reporting, taxation & the list goes on.
As long as money exists, accountants will continue to thrive and keep businesses within budget and help companies foresee their future spending implications. Whether the job profile is auditing, financial accounting, taxation, or management, you'll always have a wide range of roles to go after. You can take accounting courses in Dubai to kickstart your career as an accountant and achieve career success.
- Unlimited Growth Potential:
A career in accountancy encompasses huge growth potential! Once you make your debut into accounting as an entry-level associate, you can move up the ladder and upskill yourself on the move. You can do professional certifications such as CIMA, CPA & ACA later in your career for faster promotions. One should note that accountancy is a constant learning domain. Every day you're presented with challenges, you comprehend, solve the same & move forward.
You may start in a small or medium organization but won't take much time to land a lucrative position in a big firm. Right from day one, accountants have a clear vision of the career path. Accountants accumulate an array of skills such as problem-solving, communication, management, and leadership throughout the years. As you move up the chain, it is your skills and experience that rewards you generously.
- Work-Life Balance:
Another lucrative advantage of having an accounting career is the perfect work-life balance. Accountants usually work in well-defined shifts, 9-5 types. However, the workload can be a bit challenging during tax season. The tax season brings a ton of learning and challenges for accounting professionals and doesn't take much toll on the work hours. Accountants are in charge of their workspace. Therefore you can draw a line between work and your me-time!
Moreover, accountants hold a significant place in any organization. It is their inputs that help companies with strategy and policy-making. They have higher job satisfaction as their valuable inputs and reports are read, appreciated by the top brass. Accountants enjoy all of these and still ensure the work-life balance, just right.
- Can Be Your Own-Boss:
As an experienced accountant, you can always go out of the box and start your practice. Once you start working as an accountant, your education, hands-on experience & the work you do for well-reputed organizations all add up and build your name! With the right network of clients, you can kickstart your very own accountancy or consultancy firm. Thus, accountancy has huge entrepreneurial potential.
As we know, accountants work in different fields, industry settings & environments. Be it insurance, manufacturing, production, or company management, most of the accountants have gone through it all. With the right opportunity and work experience, you can stand out and become self-employed in no time!
There is no denying that accounting has a ton of opportunities. Both freshers and professionals can work in a variety of industries and under a diverse set of roles. A career in accounting pays well, guarantees significant growth, and is always in demand due to its very nature. Thus, it's almost recession-proof.
Accountants hold key responsibility roles in the organization. They always have a say in big decisions and impact a company's day-to-day operations. As an accountant, you'll never be bored. Every day is a new challenge. You'll cater to a variety of tasks, including numbers- lots of them! At the end of the day, accounting is a stable & dependable career with regular work hours, benefits & other perks.
He is a Financial Accounting trainer with over 7 years of teaching experience in Financial accounting fundamentals and software. Apart from training experience, he has industry experience of two years as a senior accountant at GCC countries. He is well versed in Tally, Sage 50, Zoho Books and SAP FICO.
He follows easy to learn methodologies which work wonders on his training. He loves to travel a lot and has a craze in driving too. His passion for teaching and training engages him to attend conferences and in exploring new areas of learning.