Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities in addition to preparing financial statements and recording business transactions. These activities include computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management.
Use the Internet or the Strayer Online database to research career options within the accounting field and accounting job postings in your local area to respond to the questions in the assignment.
Write a one to two (1-2) page paper in which you:
Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.
Describe one (1) researched accounting position, and explain the essential skills that would make a candidate successful in the position.
In the present world, accountants are becoming increasingly important to organizations and companies since they help in upholding the transparency and accountability of these institutions. Accounting is the systematic and comprehensive bookkeeping of financial transactions undertaken and conducted by an organization in a particular financial year. Additionally, accounting focuses on summarizing, analyzing and reporting these financial statements to oversight bodies mostly auditors. This assignment will attempt to shed light on various aspects of accounting education.
Question 1: accounting careers
- Senior financial analyst – senior financial analysts are important in almost every industry in the economy in the globe today. The primary duty of these analysts is to review the financial status of the companies they work for and make appropriate recommendations for how the organization can minimize the cost incurred to conduct the daily operations of the company. Moreover, the chief financial analyst has the responsibility of leading other financial analysts who are at the center of the company finances to create transparent financial statements(Khanna, 2015). Often, they work in their own offices or conference room to present the financial statement to the company employees or the management and explain the way forward regarding finances. However, for one to qualify for this position, they need to be diligent, detail-oriented and accurate. A senior financial analyst is likely to receive an average annual salary of $74,000.
- Accounting software developer – with the rampant spread of technology in the world today, there is the need for more accountants to learn and employ technology in their fields. As a result, an individual with accounting education skills can support and lead a software company’s team of manager and developers to develop accounting software. Accounting software can be used to bill and time tracking obligations as well as licensing audits. In the case of problems with their accounting software, the accountants and other individuals in the company with accounting education can step out of their accounting role to develop and repair them. An accounting software designer has an average annual salary of $89, 000.
Related: CAFR AND CCR REPORT
Bookkeeping is one of the positions that individuals with accounting education can occupy in an organization. Bookkeeping entails the recording all financial transaction conducted by an organization in a particular financial year. Bookkeepers have a duty to perform basic duties as they strive to maintain complete financial records, keep tabs of accounts of the company as well as control the accuracy of processes used for recording the financial transaction. Bookkeepers help to maintain financial records for all types of organizations and companies.
For an individual to qualify for this position, he or she has to have a high school diploma at a minimum. High schools’ lessons on mathematics, the computer spreadsheet, and bookkeeping programs are important for individuals who want to pursue this career line. However, it is worth noting that high school graduates have to undergo additional training on the job on important aspects of bookkeeping such as double entry, calculating interest and monitoring accounts once they are employed by different companies (Sinclair, 2015). A good bookkeeper is likely to show special skills and attributes such as strong analytical and problem-solving skills, good organizing skills, good computer skills, attention to detail and patient and dedication. All business transactions should be recorded whether big or small to ensure that accountability and transparency in the organization is not compromised.
Khanna, M. &. (2015). „Gender perception on accounting career”. . International Journal of Applied Research, 1(11),, 376-381.
Sinclair, R. C. (2015). A study of the scarcity of qualified applicants for governmental accounting positions (Doctoral dissertation, University of Phoenix).