Exploring Options: What Can You Do With A Degree In Accounting?

Most people have an elementary idea of accountants’ jobs—where they work and what they do. However, all accountants don’t have the same duties or work inside the same environment. There are various career paths you can choose after completing an accounting degree. While most aspiring accountants will start in similar job roles, several opportunities enable them to diversify their careers. So, if you’re thinking about enrolling in an accounting degree program, you will never run out of work. Listed below are a few career options you can pursue after acquiring a degree in accounting.

Auditor

An auditor is responsible for analyzing and preparing financial records. Furthermore, these professionals also ensure a business’s financial statements are accurate and up-to-date. In the business industry, an auditor certifies if a company pays its taxes correctly at the end of the year. Moreover, they also analyze a business’s financial strategies and operations to ensure they run as efficiently and smoothly as possible.

To apply for such a role, applicants must first obtain a bachelor’s degree in accounting. However, further education will be beneficial. You can acquire that easily by completing an online degree to hone your accounting and auditing skills and familiarize yourself with the role. However, becoming a Certified Public Accountant (CPA) will improve your chances of employment at a reputable financial or auditing firm. According to BLS, the median salary of an auditor is 71,550 dollars per year. However, according to the National Association of State Boards of Accountancy, applicants who obtain a CPA credential can make ten to fifteen percent more.

Financial advisor

Financial advisors work with organizations and people and help them achieve their financial goals. Financial advisors might develop long- and short-term objectives covering various finance and accounting-related aspects with the help of their analytical skills. These might include but are not limited to retirement planning, estate planning, business investments, risk management, and much more.

People interested in becoming financial advisors can begin their professional journey by earning a bachelor’s degree in accounting. Higher education in either accounting or finance will help. Furthermore, to improve chances of employment, getting yourself registered with the SEC (Securities and Exchange Commission) is a must. According to BLS, a financial advisor’s median salary is 87,850 dollars..

Financial accountant

A financial accountant’s primary role is to handle and manage an organization’s financial and accounting operations. In addition, these professionals help develop financial statements by accumulating day-to-day transactional data. The information they collect enables business owners and decision-makers to make better, more informed financial decisions. Furthermore, financial accountants also provide reports on various other accounting practicing including expenditures, employee productivity, gross margin, costs, and much more.

To apply for such a role, applicants must obtain a bachelor’s degree in finance, economics, accounting, mathematics, or business studies. A master’s degree in accounting will improve your chances of employment and help you earn a better salary. According to BLS, the median salary of a financial accountant is 71,550 dollars per year. That said, the highest tenth percentile earns approximately 124,450 dollars per year.

International tax manager

Often businesses seek opportunities to spread their operations worldwide. Digitalization and online markets make this a lot easier. A company located in the U.S. might export raw materials from China while manufacturing products in another part of the world. This is where an international tax manager can prove to be a valuable asset for companies, especially ones running operations across multiple global locations. An international tax manager’s role is to identify changes in import and export laws. They also determine how changing currency exchange rates might affect the company’s bottom line.

Typically, people aiming to become international tax managers must first acquire a bachelor’s degree in accounting, followed by a qualification in international tax law. According to BLS, the median salary of an international tax manager is 112,000 dollars. However, candidates can earn more if they hold previous working experience in this field.

Compliance officer

Not abiding by federal and state regulations will cause issues for the savviest of business owners. Hence, businesses must hire a compliance officer to avoid landing penalties caused by non-compliance. Compliance officers are also responsible for communicating laws to stakeholders, ensuring they remain well-informed on staying ethically and legally compliant.

To work as a compliance officer, people must supplement formal accounting education with a master’s degree in ethics, finance, business law, or accounting. Furthermore, as regulations and rules are subject to change, employers hire professionals with previous working experience. According to BLS, the median salary of a compliance officer is around 75,830 dollars.

Conclusion

Accounting is a sought-after skill by employers. Seasoned accountants can help a company manage and organize its finances and information for better ROI. They can also help businesses follow IRS standards and avoid fraud. If you choose this as your major, you’ll be able to find employment in private and public offices. And some of these jobs will come with excellent remuneration. So if you have a knack for number-crunching, an education in accounting could be your calling. Furthermore, you can go through these accounting resources to stay up-to-date on accounting trends.