How Studying Accounting Can Boost Your Career Prospects
Accounting is known as the ‘language of business’. It has always been regarded as a promising field to enter, as accounting professionals are valued in every industry.
As an accountant, you are required to analyse and interpret financial information. To do this, you need to understand how organisations operate, and how they are affected by financial decisions.
Studying accounting will help you understand the financial structure of organisations and will teach you how to produce and analyse financial information. These skills will enable you to become a valuable employee in the business environment, even if you don’t want to work as a professional accountant.
The fact that business owners are always looking for qualified accounting professionals, not only to work as accountants, but also as business managers and directors, is a clear indication of how your studies can boost your career prospects.
The opportunities for career growth are nearly endless for those who have studied accounting. Worldwide, the demand is high for people who are skilled in accounting and finance.A solid educational background in accounting will therefore give you a competitive edge when it comes to applying for lucrative positions in the competitive business environment. And if you are skilled in accounting, you will be able to work in many different roles, in many different types of industries, worldwide.
Here are a few examples of the different types of roles that accountants can fill:
| Financial Accounting | This involves preparing the financial statements of an organisation, as well as performing any related accounting activities. |
| Tax Accounting | This includes the preparation of tax returns and the giving of advice in relation to tax compliance and the minimisation of tax liability. It also involves an evaluation of the impact of tax legislation. |
| Auditing | This involves evaluating organisations’ compliance with financial standards and reporting regulations. |
| Management Accounting | This involves providing relevant financial and non-financial information to the managers of an organisation to assist them in their decision-making processes. |
| Financial Analysis | This involves the interpretation of financial data and the giving of recommendations and financial advice to individuals and organisations. |
These are only examples of the different types of accounting roles that are available. If you have a background in accounting, you can also consider looking for positions in areas such as:
- HR (benefits administration and payroll)
- Business management
- Financial management
- Project management
Where to study accounting
If you are interested in a career in accounting, then you should consider working towards the relevant professional accounting qualifications. These include the qualifications/certifications offered by ACCA, CIMA, AAT, ICB, and SAICA. There are many different routes you can take to earn these qualifications, depending on which course you want to study. Some of your options include:
- Studying full-time at a recognised university
- Studying part-time at a recognised university
- Studying full-time or part-time from home via distance learning.
You can also consider studying towards your N4 – N6 National Certificates in Financial Management via distance learning – with a recognised private college such as Oxbridge Academy.
Remember: the more time you spend choosing the right qualification, the better off you will be in the future. Make sure that you know what you would like to gain from the course, and what you would like to do career-wise after you have completed your studies, as each course will enable you to develop different skills and abilities within a specific area of accounting.
For example:
- If you want to work as a Chartered Accountant, you will need an undergraduate degree in accounting, after which you will be required to enter into a training contract and write your qualifying exams.
- If you want to work as a Management Accountant, the CIMA qualification is a good option.
- If you want to work as a Technical Financial Accountant, you can study toward an ICB or AAT qualification.
- If you want to work in a financial role, but not as a professional accountant, you can choose any accounting course that will equip you with the financial skills you need to succeed in your chosen role. A short course in accounting might even be a good option for you.
Want to find out what types of qualifications you need to work in accounting?
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