In this era of unpredictable economic rises and falls, keeping track your transactions is more
important than maximizing profits.
Keeping track investments, expenditures, invoices, and receipts is done by accounting experts. They also update records, create statements, and make sure that all of a business’s records are accurate. Accounting experts, also known as bookkeepers, work in a wide range of businesses and have a great expertise in managing the finances.
According to the Bureau of Labor Statistics, the demand for accounting experts has grown by 18 percent between 2006 and 2016.
However, with new accounting graduates entering the job market every year, standing out from the crowd may seem like a daunting task. Let’s take a look at how you can become an accounting wizard, and how you can develop your career in this field.
- Decide what type of accountant you’d like to be.
With a wide range of career options like private, public, or management accounting, and internal auditors, you can find a field that is perfect for you.
If you prefer to work in a variety of environments, public accounting will suit you well. However, if you want to stay in one organization for years, auditing and management accounting is the way to go. The next step from here is to decide if a masters in accounting is a smart approach for your career goal.
- Work as an intern while studying.
There are many types of internships that are provided during your degree course to enhance your accounting skills. If there aren’t any available, you can contact local accounting firms to provide you with one.
Working as an accounting intern will help you decide which type of accounting you would like to pursue, and it will help you with the work experience required to register as a CPA.
- Get started with an AAT qualification.
Getting an Association of Accounting Technician (AAT) qualification is the first step to becoming an accounting expert. A clear AAT exam is the most demanded accountancy qualification, and it allows you access to many entry level accountant jobs with an average salary of around £25,000.
- Enhance your skills by qualifying CIMA or ACCA
Once you have earned a degree in accountancy, gain accreditation from a leading accounting representative like ACCA or CMMA. The certification from these bodies will give your career a kick start and will also help you become an accounting wizard. Once you get ACCA or CIMA certified, you will be equipped with the best skills and experience, and access to a salary package of £65,000 per year.
- Choose between CMA or CPA
There is no better way to become an accounting wizard than by getting certified. Decide what type of accounting expert you want to be like to be and choose between CMA and CPA.
CPA is for those who want to excel in public accountancy, while CMA is for those who want to work in government accounting and management.
Becoming an accounting wizard requires a solid knowledge base and a continuous improvement in your skill set, and since the laws of tax keep on changing, awareness of current changes in regulations will help you to stand out from the crowd.