Accounting is a respected profession, with a wide range of career options available from tax accounting to auditing. Every business needs an accountant which means its services will blend into any business model.
However, before you choose a career in accounting, there are several factors you need to consider. On that note, here are six important questions to ask yourself before committing to a career in accounting.
Am I interested in accounting?
Accounting is not a career for everyone. Before committing to a career in accounting, you should consider if you have a true passion for the discipline. Accounting may be a difficult and demanding career that demands a high level of attention to detail and analytical abilities.
Accounting may be a good fit for you if you like dealing with numbers and have a natural knack for arithmetic. It is crucial to highlight, however, that accounting encompasses more than simply numbers. It also necessitates critical thinking, problem-solving abilities, and communication abilities.
What are my career goals?
Before you decide to become an accountant you first need to determine your long-term career goals.
You can ask yourself questions like, where do you see yourself? In other words what aspect of accounting do you want to major in, will it be financial analysis, auditing, tax accounting among others?
You also need to determine what industry you want to work in, will it be in public accounting or the private industry? Clearly outlining your career goals, creates a clear path for you to follow as you can precisely tailor your education and experience to suit your goals.
Where can I work?
While building a career as an accountant a huge step you will have to take is deciding where to work. The great news is a career in accounting creates job opportunities in the 10 best accounting firms in the US and numerous large, medium, and small-scale businesses.
The top firms boast prestige, high salaries, and a good reputation, however trying to get jobs at the top of the industry is highly competitive and there is often a rigorous application process.
You can also work for government agencies like the IRS, banks, and any other business that deals with huge sums of money regularly. You can also set up a private practice and offer financial advisory and accounting services to your clients.
What skills do I possess?
As with any other career, there are some unique skills that any potential account must have or develop. This includes; analytical skills, problem-solving abilities, communication skills, and good attention to detail.
For example, if you are detail-oriented and enjoy working with numbers, you may have a natural aptitude for accounting. However, if you struggle with communication or have difficulty working under pressure, you may find accounting challenging.
What type of accounting do I want to pursue?
Accounting is divided into various branches, including financial accounting, management accounting, and tax accounting. Consider your hobbies and professional ambitions while deciding on a field.
If you want to work with firms to enhance their financial performance, consider a career in management accounting. If, on the other hand, you prefer dealing with tax rules and regulations, a career in tax accounting may be for you.
What is the job market like?
It is critical to explore the employment market in your region before committing to a career in accounting. Accountants are in high demand, right? What is the starting pay for entry-level jobs? Understanding the work market might help you make an educated career selection.
Accountants’ and auditors’ employment is expected to expand at a greater rate than the national average from 2019 to 2029, according to the Bureau of Labor Statistics. However, work opportunities may differ based on your region and the precise field of accounting in which you are interested.
