When pursuing a career in accounting, it’s worth thinking about what kinds of roles and career paths are available, and finding something that excites you and matches your skills. Though there is a variety of career options in accounting, we’ve identified 5 jobs in the industry with a bright future and great salary potential. Read on for more.
Tax AccountantTax accountants are generally thought of as consultants and are often close, trusted advisers to their clients, helping simplify the complex tax system and to save money. As a tax accountant, you’ll become not just an expert on how to most effectively work within the tax system – navigating state and federal tax codes and regulations – but also an expert on the details of your clients’ businesses. , Many tax accountants hold a CPA, and because of the ever changing nature of tax accounting, they are constantly in demand and command a very attractive salary.
AuditorAuditing is included in the broad field within financial accounting, and encompasses manydifferent roles and career opportunities. It provides an exceptional foundation for anyone just starting out, as auditors dive deep into the inner workings of a company and are tasked with pouring over financial statements and ensuring compliance with government regulations. In your auditing career, you could do this as an external adviser, such as working for audit firms, or as an internal adviser who works to keep your own company compliant. As the world of auditing involves complicated financial statements, auditors not only need to verify, track and assess the reliability of what a company is reporting, but they also need to be good communicators who can convey complex analysis in a straightforward and simple manner.
Management AccountantManagement accounting is all about providing strategic answers that help companies make the right decisions. Management accountants spend a lot of time working on the internal operations of a business with internal stakeholders, from analysing cost of production, to looking at customer profitability, to creating insightful reports. At its heart, management accounting helps answer tough questions for CEOs and CFOs with sound advice that will aid managerial planning and commercial decisions for future growth and profitability. It’s interesting, varied work and exposure with great salary potential.
Financial AccountantThis role is similar to a management accountant, except this scope is focused on the reporting of financial statements to an external audience. Financial accountants prepare key financial statements and ensure they are accurately reported to investors as well as to employees and the general public. Financial accountants have great job security and salary options, and usually start their career with a broad scope, and then narrow down to a particular specialisation.
Forensic Accountant Increasingly in demand amidst a backdrop of tightening economic conditions, growing corporate governance and scrutiny, forensic accountants specialise in litigation – examining tax and business records to identify irregularities that can impact major criminal or civil cases. Forensic accountants deal with work that can be held up in a court of law, and use their financial expertise to investigate suspected financial crimes such as embezzlement and corruption. There are also various areas of specialisation you can pursue within forensic accounting, including insurance and personal injury, where you not only investigate fraud and misconduct but help prevent and mitigate risk. Forensic accountants often attract high salaries because of the level of expertise required.