Bachelor of Accountancy is the Beginning of an Exciting Career
The world economy may be facing instability and a second global financial crisis may just be waiting to happen. But no matter how many economic meltdowns occur there will always be businesses that will survive. As long as there are businesses the need for accounting will always be there because accounting is the language of business. Any commercial entity will always need someone to interpret the language of banking and finance and help provide the management with data and information that it can use to make the best possible decisions. You can become the voice of a company’s finances if you complete a Bachelor of Accountancy degree.
Accounting is said to be the third oldest profession with the oldest records dating back to more than 7,000 years ago. The oldest accounting records were those used by landlords who used the accounting system to keep track of the harvest. Accounting back then was very simple and straightforward unlike that of today which has grown to be very complex in order to keep up with the changing times.
Numerous positions can be filled up by people holding a degree in Bachelor of Accounting. These positions can be classified into four groups based on the kind of services provided.
Certified Public Accountants
Accountants in this group are public practitioners and their primary source of income is reviewing financial statements and attaching their signature if they find the said financial statements to be accurate.
Certified Internal Auditors
Accountants in this group work for private companies. Their task is to review the current accounting system and processes and detect any errors or fraud that may have been committed.
Certified Management Accountants
Accountants in this group use their accounting knowledge to interpret available data and information and use them to make forecasts and projections to help in making business decisions.
Accredited Business Accountants
Accountants in this group perform accounting for businesses entities of both the public and private sectors.
Accountants, particularly auditors are one of the most respected and also feared professions because the influence they can have on a business. An accountant can disrupt the flow of a business’ operations by simply refusing to sign its audited financial statements. Such financial statements reflect the current financial position and stability of the company and are required by the government each year. The company that hired the auditors must therefore do all it can to convince the auditors that its financial statements are fairly stated.
The demand for accountants is at a steady rise. In fact, it is one of the few professions that remained virtually unscathed by the global financial crisis. Even though closing businesses left some accountants unemployed, those trying to survive through debt restructuring and other means were able to compensate for the lost demand. The trend is expected to last for a few more decades in the least so you can be assured that there will still be ample demand by the time you finish the degree.
Accountants can receive up to $100,000 per annum depending on their position and the size of the company they are working for. This value is at the higher end of the spectrum and only a few four and five year courses can reach the said salary rate. You can further increase your earnings by qualifying for advancement such as a master’s degree or a doctorate degree.