Accounting is a rewarding career path. There are plenty of opportunities for you in the accounting industry. Offering clear career paths, decent wages, and a stable career, accounting is a great job to have.
However, entering this career can be tough, as you will often require specific skills and qualifications. If you dream of becoming an amazing accountant, this guide will lead you through the entire process.
With this knowledge, you can pursue your dream job, as stated by Learn Accounting Skills.
How To Start Your Career In Accounting
- Earn The Right Qualifications
The exact qualifications that you need will differ depending on what branch of accounting you wish to go into.
Obtaining a bachelor’s degree is a good way of starting this career. Though a bachelor’s degree is not required for this career, many employers will want candidates that have bachelor’s degrees. An accounting degree will be preferred, though degrees in related fields, such as mathematics, business, finance, and economics, will also be accepted.
If you don’t want to go down the route of acquiring a degree, there are other accounting qualifications that you can pursue. This includes:
- CPA: standing for the Uniform Certified Public Accountant Examination, CPA refers to an examination that is held in the United States. After passing this exam, you will become a Certified Public Accountant. This sixteen-hour exam is grueling, with a low pass rate of only approximately 50%. As a result, you must study extensively before trying this exam.
- AAT qualifications: standing for the Association of Accounting Technicians, this qualification can be obtained in the United Kingdom. However, these qualifications will be recognized internationally. The AAT focuses on providing both practical experience and theoretical knowledge. This organization offers an assortment of courses and apprenticeships.
- CFA: referring to the Chartered Financial Analyst exam, CFA offers three different curriculum levels. Before progressing to the next level, you must pass an exam for the previous level. This exam will test your knowledge in areas such as wealth management and investment tools.
- CIMA: the Chartered Institute of Management Accountants is open to anybody, no matter your level of experience. As the name suggests, this qualification is aimed at management accountants. As a result, it’s best to obtain this qualification if you are interested in specializing in this area.
Though most accounting positions will accept the majority of these qualifications, it’s worth thinking about what career path you are most keen to pursue. This way, you can opt for the qualification that is best suited to your interests.
- Pick An Area To Specialize In
There are lots of different areas of accounting. Financial and management are the two most prominent varieties. However, there are other areas that you can focus on, such as government accounting and forensic accounting.
Financial accounting refers to the recording and allocation of a business’s financial transactions. This is perhaps the most common form of accounting that people immediately think of. Meanwhile, management accounting is the act of using accounting data to make management decisions.
Once you’ve earned your qualifications, you will need to decide which area of accounting you want to specialize in. The qualification that you have earned may limit the number of areas that you can follow.
To make the right choice, it’s important to consider which branch of accounting you are most passionate about. After all, it will be difficult to have an accounting job that you are not interested in.
Moreover, it’s advised that you consider which branch is best suited to your skills. The good news is that you will likely learn about these different accounting niches during your studies, so you will likely develop an idea of which one is right for you.
- Acquire Work Experience
Work experience will allow you to get hands-on experience in what the accounting sector is like. Apprenticeships, work shadowing, or volunteering at an accounting firm will help you progress in this career.
Employers will be more likely to hire individuals who have relevant office experience. This is because they will be more familiar with the industry, meaning that they will require less training.
If there is a specific accounting firm that you would like to work for, it’s worth researching the available opportunities. If they offer an apprenticeship or internship, it may be worth applying for these positions to further your skills.
- Start Looking For Jobs
Once you have become a knowledgeable, qualified, and experienced accountant, you can now begin to search for a job.
One of the best ways of looking for an accounting job is through networking. By making contacts within the accounting industry, you can find job opportunities more easily. You can build a network of contacts through the people that you have met during your studies and work experience.
Social media platforms, such as Linkedin, are ideal for networking with accounting professionals.
Another way that you can find relevant accounting roles is through job-hunting websites, such as Indeed. These platforms allow you to search for specific positions, allowing you to find an accounting job within your niche.
Writing an exceptional resume that highlights your skills, experience, and qualifications in accounting will help you to stand out from the crowd. As a result, you will be more likely to be hired by an accounting firm.
- Improve Your Interview Skills
If you manage to get an interview for an accounting job, it’s worth brushing up on your interview skills. These interviews are the perfect opportunity for you to make a positive first impression and stand out from the crowd.
During this interview, you will likely be asked questions that will test your accounting knowledge. You will probably be asked questions such as:
- Why do you want to be an accountant?
- What are your strengths as an accountant?
- What are your weaknesses as an accountant?
- What accounting software can you use?
- Why do you want to work here?
- What challenges do accountants face?
It’s worth practicing answers to these questions so that you can deliver accurate and concise responses. You may even be asked to review a financial statement depending on the position. Make sure that you can correctly analyze a financial statement before an interview.
- Consider Similar Jobs
As with many industries, the world of accounting can be competitive. Even after you’ve earned qualifications, you may not be able to land a job straight away. Consequently, you may need to take a related job position instead.
Entry-level jobs that offer transferable skills can help you to earn more experience and will look good on a resume. These jobs can induce bookkeeping and data-inputting positions. In the meantime, you can search for an accounting job that is more relevant to you.
What Skills Do You Need To Be An Accountant?
As well as obtaining specific qualifications, you must develop certain skills if you wish to become an accountant. Namely, you will need the following skills for this prestigious career:
- Exceptional mathematical skills
- Attention to detail
- The ability to work with others as part of a team
- A passion for business
- Phenomenal problem-solving skills
- IT and technology skills
- The ability to accurately predict consequences
- Incredibly customer service and communication skills
Final Thoughts
If you have an interest in mathematics and business, it can be worthwhile pursuing a career in accounting. Just bear in mind that it can be challenging to start an accounting career, as you will need to have specific qualifications and skills. By following the aforementioned steps, you could begin your journey to becoming an extraordinary accountant!
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