The accounting sector is among the most attractive fields to work in, with the number of accountants and auditors expected to reach about 1,537,600 by 2026. That’s 10 percent more than in 2016.
But exactly what does an accountant do? What makes a career in accounting so enticing? If you’re asking these questions, you’ve come to the right place.
Read on to know why you need to become an accountant.
What Is an Accountant?
An accountant is a professional whose job is to keep and interpret financial records. An accountant may be responsible for a wide array of finance-related tasks, including budget preparation, overseeing tax payments, conducting internal audits, monitoring and reporting financial inconsistencies, and more. All this you can learn in the accredited accounting courses on this site. This is also beneficial for Australian residents, as these classes are approved by the Australian Tax Practitioners Board (TPB), which will make it possible to legally provide tax services to companies and individuals in the future.
The term accounting encompasses many different roles and job titles within an organization. Generally, there are three major types of accountants:
• Government accountants
• Public accountants
• Management accountants
• These accountants focus on different aspects of the accounting profession.
As an accountant, you can opt to go on to become a CPA by passing the CPA exams and meeting the state licensing exam.
Why Become an Accountant?
Accounting careers are highly satisfying, thanks to the many benefits that come with working in the accounting sector. Some of the top reasons to consider this career path include:
1. Job Security
There are few professions where the risk of unemployment is almost nonexistent, and accounting is one of them. In fact, 81 percent of finance leaders report having difficulty finding accounting talent. That means as long as you’re a qualified accountant, your skills will always be highly sought-after.
Most accountants are immediately snatched up by organizations, although some opt to open their own businesses and serve both individuals and businesses. But even if these two options don’t appeal to you, you can still opt to join a top freelance platform such as https://www.taxfyle.com/freelance-cpa-jobs and connect with clients online.
2. You Can Work in Any Industry You Choose
The accounting field offers incredible flexibility. There are accounting jobs in just about every industry.
Some accounting majors choose to work in public accounting and remain there. Others choose different career paths, from working in Fortune 500 companies to serving small nonprofit organizations. Some choose to work for the government.
The point is, when you become an accountant, you have the freedom to choose from an endless list of industries to work in.
3. The Salary Is Competitive
While money may not be your top priority when choosing a career path, it’s still an important consideration. Accounting jobs offer some of the highest salaries in the country. In 2023, the median annual wage for accounts was $73,560
The median wage for accountants and auditors was $73,560 per year. That’s more than double the national annual median wage.
That makes accounting easily one of the top 10 paying jobs in the US.
4. You Get to Build a Strong Financial Foundation
The financial expertise you gain by being an accountant will also reflect in your own personal financial health. Simply put, since you specialize in handling money, it’s easy to make financial and investment decisions for yourself that help you strengthen your financial position over time.
As an accountant, you also get to make numerous connections with people in your industry. These connections may prove extremely beneficial when it comes to making investments.
Besides, when you’re always mingling with CEOs, CFOs, investment magnates, and so on, you’re bound to get valuable financial knowledge that moves you closer to financial freedom.
5. There Are No Geographical Limits
Not only do accountants fit in any industry, but they can also work anywhere around the world. Sure, there are some knowledge gaps you may be required to fill if you wish to work abroad, but generally, accountancy is one of the most portable professions in the world. Your skills will be relevant and required in any part of the world.
For people who love to work in different countries, a job as an accountant is a perfect fit.
6. The Potential for Career Growth Is High
For many people, the availability of opportunities for career advancement is an essential consideration when choosing a career. Given how important the skills accountants are, growth opportunities tend to be unlimited in this field.
As long as you’re ambitious, you can climb up the corporate ladder quickly and land the partner position, depending on the organization you work for. You can also opt to branch off and launch your own company.
7. The Workload Is Manageable
Sure, tax season can be crazy, and accountants tend to be extremely busy during this time of the year. But once the season is over, accountants, for the most part, have a manageable workload. Thus, if you’re looking for a career where the workflow is mostly steady but mild, then accounting might be your ideal pick.
8. You Get to Travel Widely
If you love traveling, becoming an accountant may suit you perfectly. Public accountants get to travel a lot throughout their careers, checking in with clients across the country and sometimes abroad.
In just a single year, you may meet lots of clients and companies scattered across the world. You get to enjoy new cultures, which can be a lot of fun.
A Career As an Accountant Can Be Highly Satisfying
As long as people want to make money, the need for accounting services will always be there. That’s why it makes sense to become an accountant today. This career path offers incredible job security and the opportunity to work anywhere across the world, among a host of other benefits.
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