While accounting has long been a dependable field of collegiate study, it has recently become even more in-demand in the job market. With more business graduates looking at flashier roles on Wall Street or managing large investment portfolios, many are overlooking accounting and the options available within this sector. For this reason, those with accounting degrees are becoming increasingly more popular.
The possibilities for jobs in accounting vary greatly, and there are many opportunities for advancement. Here are 5 careers for accounting graduates:
1. Internal Auditor
Possibly one of the most important jobs in any business is the internal auditor, the person who ensures that the company remains compliant with state and federal business regulations. By analyzing operational effectiveness and the accuracy of all financial reports, an internal auditor helps prevent company mistakes, misuse of materials or funds and accusations of fraud. This is done through many different methods of information collection and data analysis. In fact, the internal auditor is often the first company employee to notice poor work quality and deliberate sabotage by other members of the business, thereby preventing external audits and possible government sanctions.
2. External Auditor
With duties much like an internal auditor, an external auditor does not generally work within the company that it is analyzing. Instead, an external auditor is more of an independent contractor moves from company to company, reviewing records and making recommendations about how to best handle financial situations. In addition, external auditors can be called upon by tax or government authorities to investigate potential errors or accusations of fraud. The third-party attribute of the external auditor makes him or her uniquely qualified to take an objective look at companies’ records. For this reason, executive auditors are currently in high-demand with expectations that they will continue to be sought-after in the coming years.
3. Compliance Officer
Whether working as a private contractor as a member of a corporation, a compliance officer focuses on inspection, legal review and complaint processing inside of a company. This officer is tasked with comparing what ought to be happening to what is actually occurring. By focusing on the day-to-day activities of the company, this valuable authority determines whether or not a corporation or business is following both its own internal rules as well as those established by the government. In addition, the compliance officer handles employee complaints and reviews the rules and regulations for the company’s industry.
4. Staff Accountant
The typical job for accounting graduates, staff accountants are responsible for carefully gathering and tabulating the financial information for their companies, government agencies or other types of organization. Tracking financial transactions, preparing company reports and keeping meticulous records are all basic responsibilities of this important accounting position. Although the specific duties vary from company to company, the staff accountant is also required to handle the company’s invoicing system, process the company payroll and regularly send financial reports to upper management.
5. Financial Analyst
With the ability to work at a wide range of locations, from banks to pension firms to security groups, a financial analyst’s main goal is to ensure profitability. This professional analyzes financial statements, commodity prices, sales and tax rates to assess company value and to predict potential earnings. Successful financial analysts are constantly in high demand because they find current business trends and identify competitive companies with impressive exactness. This allows their companies to grow and increase profit margins substantially.
Accounting graduates searching for a career in the field should consider these 5 fast-growing and in-demand job opportunities. The business and financial worlds have many potential opportunities for hard-working and skilled accounting graduates.
Additional Reading: Top 30 Online Master’s in Accounting Degree Programs