Careers in Accounting
CAREERS IN ACCOUNTING 4
Accountingis a wide educational study that exposes a professional to a widerange of careers. However, there are two main career choices that aperson with accounting education can pursue. These are FinancialManagement and Auditing. Financial management is the career inmanagement of funds and organizational resources. It isorganizational and administrative duty of managing the financialresources of a firm in effective and efficient ways so as to achievethe overall objectives of the organization (BLS,2015).According to the Bureau of Labor Statistics (2015), financialmanagement is one of the most prestigious management positions in anorganization. At the same time, the career is delicate because itinvolves the fragile responsibility of ensuring that the financialresources of an organization are not misappropriated.
Thesecond career is auditing. Auditing is the career of examining thefinancial records of organizations to ascertain the true and fairnature of the financial status of companies. Auditing is a careerthat is primarily meant to help organizations certify their use offinancial resources. A person with accounting education has a futurein auditing as a career (BLS, 2015). However, he or she has toadvance his or her educational capacity to learn auditing as aprofessional practice. This will involve learning the skills ofexamination and investigation of financial records of organizationsto reveal their status.
Accordingto the American Institute of Certified Public Accountants (2015), anauditor will be required to be a member of a professional accountingbody and the AICPA. Apart from the normal accounting education andprofessional member, auditing utilizes advanced financial knowledgeof the internal business environment. Through the advanced knowledge,an auditor will examine the internal control system of anorganization with a view of identifying the weaknesses and strengthsthat impact on the utilization of financial resources.
Oneof the accounting positions is that of a Cost accountant in anorganization. This is a different position from the normal financialaccounting positions. While the financial accounting positions basetheir decisions on historical data, the cost accountant bases his orher work and decisions on the future data and expected results(Gaylord & Ried, 2006). Therefore, a cost accountant must possessexcellent analytical skills. He or she must be able to analyze theunderlying cost of the business operations of an organization andtarget the future projects on the analysis. This will be important inprojecting the future based on the financial data of the past andmarket trends.
Inaddition, a cost accountant must possess excellent decision makingskills. This is because he or she is involved in the daily processesof making decisions about the financial expectations of the firm interms of the costs of operations of the organization (Gaylord &Ried, 2006). As a cost accountant, he or she decides on the costs perunit of the products produced by the company and the expected profitmargins for every unit.
Accountingpositions add critical values to organizations that seek candidatesfor the work they do. For instance, the cost accountant projects thecompany’s financial future based on the past and present financialand organizational environment. According to Gaylord and Ried (2006),this explains why all large organizations, especially manufacturingcompanies must hire cost accountants and management accountants.Therefore, the role accountants play in any organization is the coreof the financial status of the organizations and in the entireindustry.
AmericanInstitute of Certified Public Accountants,AICPA. CPACareer Paths.Retrieved From,<http://www.aicpa.org/Career/CareerPaths/Pages/CareerPaths.aspx>February 26, 2015
Bureauof Labor Statistics,BLS, FinancialManagers.Retrieved From,<http://www.bls.gov/ooh/management/financial-managers.htm>February 26, 2015
Bureauof Labor Statistics,BLS, Accountantsand Auditors.Retrieved From,<http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm>February 26, 2015
Gaylord,G. & Ried, G. (2006). Careersin Accounting, 4th Ed.New York: McGraw-Hill Companies, Incorporated