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Career Opportunities In Accounting
The profession of Accounting will always remain in demand as this field is considered as the backbone of any business entity. The demand for the skilled Accountant is very much in every type of industry because all industry deals with the transaction type of activities. Due to this, the Job of Accounting is one of the most being count as respected profession in the world. The increase in the use of technology, now there is computer system which has occupied almost every filed and so considering this situation even the work of accounting is not very much possible without computers. The job of Accounting or Accountancy is perhaps one of the most crucial in the field of finance sector. If you will hear or anyone saying the this word “Accounting”, then all things that will comes to most people minds will be related to the numbers and calculation activity. But when you will work in the Accounting filed, you will then know that there is so much more than this numbers or calculation. The job of Accounting is considered as the branch of commerce which their work involves in several aspects such as summarizing, reporting and analyzing the operation of financial transactions. The process of Accounting is that it is an organized or systematic way to keep records of several business as well as financial transaction to analyses, verify and report financial results. There is so much rising in economic growth and commercial activities, which has made the job of accounting an crucial integral part of our everyday lives. So, as a result of this the importance of computerized Accounting has increased so much. Nowadays, each and every business need an accountant professional who would be responsible for maintaining books of financial accounts. There are also some software which are designed specifically for the accounting purpose like Tally Software which helps business to ensure speedy and accurate accounting. The work of professional accountant in companies is that they assess the presents and future economic activities of individuals, businesses, non-profit organizations and governmental bodies.
Getting into job of Accounting, these are the eligibility criteria which you must have. To get admission in the undergraduate courses, 10+2 in Mathematics is a mandatory requirements with a minimum of 50% aggregate and must have basic knowledge of Maths, Accounts and Economics. For pursuing the B.com course, the process of admission is by appearing in an entrance test CAT – Common Admission Test which is held by respective universities or any equivalent entrance exam according to the respective states. If you want to enrol in post-graduate courses into Accounting, You must hold a bachelor degree in Accounting, Economics, Finance and Accounts, Taxation etc.
You should be able to work in an office setting to review various documents related work for long period of time. You must have belief in practising in the best ethical way, along with this you should have reliability as well as honesty towards the work.
There are various profiles which comes under the Accounting Profession which are as follow:• The First is Accounts Clerk: If you want to be in this position you don’t have to include a degree. The work in this they are responsible for recording certain types of financial transactions. In this position there are different job titles like accounts assistant, accounts clerk, accounts clerk (accounts receivable), accounts clerk/finance officer, accounts payable clerk, administration and accounts clerk, credit controller, data entry/accounts clerk, finance officer, junior accounts clerk, legal accounts clerk, legal accounts manager, legal bookkeeper / accounts clerk / payroll, office / accounts clerk, office administrator / accounts clerk, payroll officer / accounts clerk, receptionist / accounts clerk, senior accounts clerk.
• Second is Auditor: In this profile the auditors are some external professionals who are sent or invited into companies to examine their finances, also making sure that reports are accurate and practices up to the mark. In this position there are different job titles which are audit accountant, auditor, intermediate auditor, internal auditor, revenue auditor, senior accountant – audit, senior auditor, senior internal auditor.
• Next is Bookkeeper: Under This, the work includes maintain a company’s books. Generally for this work, you don’t require a degree. The duties which are common includes monitoring accounts received, paying bills on the business’s behalf in a timely fashion, and recording all transactions.Along with these, there are several others like Business Services Accounting, Chief Financial Officer(CFO), Corporate Accounting, Cost Accounting, Financial Accountant, Financial Controller, Financial Planning etc.
These are skills which you must have if you are looking to make a career in this Accounting field. You should work on increasing the numerical aptitude skills. You must be strong in calculation and solving numbers. You should have ability to handle distraught and questioning various clients. You should have patience as well as discipline in the work. You must constantly work on improving the computing skills.
There are many benefits which is in the Accounting field like this job is considered as stable and have a flourishing career of all occupations. You will start as an entry level associate to gain experience through on job performance. Usually The working time of Accounting professional is from 9 am to 5 pm. The work pressure in the Accounting professionals depends on the company to company.
You will enter as trainee in the industry with the salary in the range of Rs.8,000 to 15,000. As you will gain work experience, your salary will be increase with the years of experience you will have.
There are some of the top entrance test conducted for admission into the Accounting Programme which is ICWAI – Institute of Cost and Work Accountants, ICSI – Institute of Company Secretary Exams, ICAI – Institute of Chartered Accountant of India Exam, CPGET – Common PG entrance Test, CFA – Chartered Financial Analyst Exam, UGC-NET/JRF- Junior Research Fellowship Exam for Accountancy.