Deciding on which career path you should choose is quite challenging. There are various job opportunities you may take, but above all the other businesses, why does accounting stand out?
Reasons to Pursue Accounting in Worcestershire
Accounting is one of the most sought-after professions by both fresh graduates and career shifters. Compared to other lines of work, applicants prefer accounting jobs due to the advantages they offer such as:
The accounting industry is stable as companies, of any venture, need an accountant. Business is a global enterprise, so you will surely be able to find accounting vacancies anywhere around the globe. If, for instance, you decide to move abroad, no matter which state you choose to settle, there will always be an accounting vacancy, unlike other careers where job vacancy is scarce.
Pursuing a career in accounting in Worcestershire is a practical decision since the demand for accountants continues to grow. In fact, according to research, the UK will need 80,000 additional accountants by the year 2050.
Competitive Salary Offer
The salary for an entry-level position in the accounting industry is more competitive than offers in other careers. Aside from this, some companies even give benefits like vacation time, retirement plans, and healthcare for their employees.
Variety of Career Paths
Accountancy jobs offer different opportunities across all sectors and industries. There are various fields of accounting that you can explore. Some sectors, however, may require specific expertise.
Different Fields of Accounting
Accounting is very broad in nature. Some accountants specialize in one or two general areas of practice. For this reason, there are various accountancy jobs you can explore, such as:
This refers to a business that offers accounting services for other firms, manufacturers, individual taxpayers, non-government organizations, and retailers. Some of the services a public accountant provides are auditing and preparation of financial statements and tax returns.
Corporate or Business Accounting
Corporate accounting focuses only on the company where it operates. The corporate accountant is the one responsible for budget preparation, consolidation of financial account, and cash flow.
This is a branch of accounting that uses the traditional financial principle to measure the ecological cost of a company’s project. This field is divided into three specializations, namely the environmental management accountants, environmental financial accountants, and environmental national accountants.
Some of the expenses that an environmental accountant computes are:
· Penalties and Taxes
· Environmental Fines
· Waste Management Expenses
· Cost for Cleaning Up the Area
· Price of Technologies That Will Be Used to Prevent Pollution
Aside from the costs the company has to shoulder, the environmental accountant also calculates the benefits the company may receive from the project. It is the accountant’s responsibility to give a draft of the expected amount of return of investment with the date reflected in the same document.
The main focus of internal auditing is to evaluate the performance of the company and address problems in advance before they are discovered by the external audit. The internal accountant ensures that the company follows the laws and regulations. They are tasked to do the following:
· Fraud Detection
· Internal Control Evaluation
· Legal and Regulatory Compliance
· Process Assessments
· Risk Assessments
· Safeguarding of Assets
This branch of accounting deals with the “what ifs” of every financial project. A managerial accountant helps the managers decide whether to invest in a project by reviewing both the benefits and problems that may occur. They also examine the proposals and outline the payback period to see if it will be profitable for the company.
This branch focuses on tax returns and payments rather than preparation of public financial statements. A tax accountant calculates the amount necessary to determine the tax that the company or an individual needs to pay.
A tax accountant may need to fulfill various duties which fall into three core responsibilities. These roles are:
· Computing and Preparing Tax Payments
· Tracking and Estimating Tax Returns
· Completing Tax Reports
Skills to Acquire When Applying for Accountancy Jobs
Accountants in every field should possess numerical, analytical, and communication skills. You can find out more below on how these three skills will help you land an accounting job:
The basic requirement in accounting jobs is having knowledge in calculation processes such as addition, subtraction, multiplication, division, decimals, and percentages. It would be an advantage, of course, if you are able to perform mental arithmetic and compute complicated math problems, too.
Another role of an accountant is analyzing financial situations. Accountants are expected to foresee potential financial problems in a company and come up with the right solutions. That is why, accountants need to be attentive to small, numerical details, to ensure that inaccuracies will either be prevented or resolved.
A good accountant should be able to converse both in oral and written communication. There are times that they will need to explain their data to non-accountants like company managers or their clients. Being able to communicate effectively will help your clients understand your reports easier and faster.
As an accountant, you need to be familiar with the different software tools that you have to utilize in performing your duties well. Different clients may require you to manage various accounts and use various programs.
Using software tools will help you save time from laborious tasks. A few examples of accounting applications are:
· Free Agent
· Zoho Books
· Sage Accounting
Accountancy jobs may also expose you to different leadership positions in the industry. Some examples of these positions are:
• Account Manager/Executive
• Senior Auditor
• Tax or Audit Manager
• Consulting Manager
In order to pave your way to a successful career in the accounting industry, you will have to manage your productivity while meeting the expectations of your clients. You may also be expected to lead your team to provide top-quality services in order to usher your clients to financial progress.
Land an Accounting Job in Worcestershire
In order to become a successful accountant, you have to take the first step by applying in accounting firms. However, job-hunting is not easy and may leave you lost sometimes.
If you are having a hard time looking for accounting vacancies in Worcestershire, turn to CY Resourcing. We have more than 20 years of experience as a recruitment agency, so we will surely be able to find a job that matches your qualifications.
With our unparalleled search and selection service, you can be updated with the latest accountancy jobs and vacancies near you. Also, our relationship with different firms and businesses will help you land a job in Worcestershire.
Be an Accountant in Worcestershire
If you need assistance in looking for an accounting job in Worcestershire, get in touch with CY Resourcing. Our team of experts will assist you with your application from beginning to end. Contact us today!