The business world always needs a professional that’s possesses good data reading skills, analytical abilities and a keen insight into profit making strategies. That’s why an accounting degree opens up many opportunities to climb the corporate ladder. Take a look at a few here:
The most common and applicable job for you if you have an accounting degree. Accountants provide a large range of services including financial consultation, accounts auditing and inspecting financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes.
There are many different settings where you can be employed such as public practice firms and industry and commerce, and also non-profit or public sectors. Your goal will be maximizing profit for your employer, ensuring money is spent effectively and ensuring a stable financial future.
While people often conflate the two, there are some significant differences between an accountant and a bookkeeper. Bookkeepers also known as accounting clerks are usually required to only have a Diploma or an Associate’s Degree. While in most cases, accountants focus more on strategizing and ‘higher level’ financial consultancy, bookkeepers have a more administrative or organizational role.
As a bookkeeper, you manage ledgers, financial records of businesses or payroll operations. It is a job that values detail-oriented individuals.
8) Forensic Accountant
Put on your deerstalker hat and say that’s “Elementary, dear Watson!”” Because you’re not just any accountant, you are a forensic accountant. As a forensic accountant you investigate financial discrepancies and inaccuracies such as fraudulent activity, financial misrepresentation or misconduct and disputes. Thus it requires a good combination of accounting and investigative skills.
Still, you will not necessarily just uncover illegal activities. Other responsibilities include detecting commercial litigation, professional negligence, and loss of profits calculations, expert witness and matrimonial work. A number of forensic accountants also work primarily on preventative activities aimed at minimise the risk of financial problems and maintain a company’s reputation.
7) Tax Consultant
As the famous saying goes, “Nothing in life is certain but death and taxes.” Unfortunately, taxes can be very complicated. Fortunately for your client, you will be there to utilize your knowledge of tax legislation to advise clients on how to pay or manage their taxes in the most efficient and beneficial ways.
Other responsibilities include researching, analysing and interpreting changing tax legislation, designing tax and financial strategies for clients, establishing and structuring family trusts, estate planning, advising on tax residence as well as providing guidance on indirect taxation issues such as VAT, customs planning and environmental taxes.
6) Environmental Accountant
Environmental accounting is a unique subset of accounting that combines the field with environmental sciences. You save the company and the environment at the same time by ensuring cost-effective environmental friendly financial planning.
As an environmental accountant, you analyze resource use, measures and communicate costs of a company’s or national economic impact on the environment. Some of the costs involved include waste management, environmental fines, penalties and taxes, and purchase of clean renewable technologies.
As climate change becomes an ever increasingly pressing issue and companies became more and more environmental conscious, this sub-field in accounting may be increasingly lucrative and important.
The world of finance is a fast-paced world of hustle and bustle and as a stockbroker this challenging intense environment is your home. Stockbrokers buys and sells stocks and other securities through a stock exchange or in return for a fee or commission.
Clients can either be retail (wealthy individuals who you usually work directly with) or institutional (banks, mutual funds, hedge funds, insurance companies, etc). It goes without saying that you need a good eye for detail in this job as you analyze the latest market trends.
4) Personal Financial Advisor
Why be the accountant for a company with hundreds of employees when you can just be an accountant for one person? As an advisor, you counsel your client on all things financial and help them achieve their financial goals. This could involve providing advice on investments, insurance, mortgages, college savings, estate planning, retirement plans and taxes.
Thus, this is a job that requires you to have good interpersonal skills as well as accounting skills. You will need to foster a strong and stable professional relationship with your client.
3) Business Valuation Specialist
The role of a business valuation specialist is to produce an objective estimate of a business’ actual value. Business valuation involves investigating the the market value of assets, future earnings prospect, capital structure, and objective analysis of the management of a business.
These valuations are often used in the sale of a business, partnership ownership, mergers, estate and succession planning and divorce proceedings.
2) Budget Analyst
Though maximizing profits and planning cost-effective methods for a business are part of most accountant’s job, a budget analyst focuses specifically on this. You prepare, monitor, analyze and coordinate budgets.
A large number of budget analyst actually work in the public sector determining how to allocate budgets to various government departments. There, you conduct in-depth analysis of the effiency and viability of programs and draft budget-related legislation.
1) Management Accountant
Management accountants look towards the future. In this role, you will analyze and forecast the performance and financial information of businesses as well as formulate effective and profitable business strategies. Your goal is to ensure a business makes well-informed decisions to grow and expand.
You will need to communicate well with upper management of a company as you liase with them by providing support on financial matters. Hence, this is a role that requires both accounting and business management skills.
Well as you see, there is a wealth of things you can do with an accounting degree. If you’re interested in gaining an accounting degree, why not go for the best? The University of Reading Malaysia’s Henley Business School is consistently ranked as one of the top 50 business schools by the Financial Times and The Economist. It offers a BSc Accounting & Finance that will unlock multiple pathways to success. For more courses offered by prestigious UK universities in Malaysia check out our university page.