An accountant is one of the most in-demand working professions in the industry. Pursuing this field will provide you with tons of opportunities, especially when you have the skills and knowledge.
Globalisation, accounting systems, and changes in economic legislation have all impacted the accounting profession. The changes have presented a wholly unique challenge to the accounting profession, but they also offer an opportunity for accountants who are prepared to embrace them.
It is considered the secret language that businesses need to soar, and as long as businesses, even local ones, are present, accountants are also here to stay. Accountants who have accounting certification are much more likely to be hired from companies and have more solid chances of standing out.
What You Should Know About Being an Accountant
What is an accountant?
Accountants are those who manage or inspect financial records on behalf of their clients or companies. They are a group consisting of numerically oriented individuals who perform exceptionally well in organisational and detail-focused tasks.
Accountant’s primary concern is with working with actual revenues, authentic transactions, and observable financial information. It is a profession whose major responsibility is the preparation and examination of financial statements. Using accounting software, accountants verify that financial records are accurate and that bills and taxes are paid on time by a person or organisation.
Benefits of Being an Accountant
Various factors motivate students to pursue a degree in accounting and finance, ranging from the crucial competencies they will get to the numerous professional prospects available.
More opportunity for growth
Accountants get the type of expertise that many people are willing to pay a premium for after years of studying the art of financial management. The fact that such competencies are transferable to any work profession indicates that companies would definitely profit from hiring well-versed job seekers in these abilities.
You can also use accounting abilities in a variety of other occupations, including a chartered accountant, where you can receive an accounting certification from a professional membership organisation like ICAEW and get an ACAqualification.
You can also become fund managers, data analysts, development managers, banking professionals, and other related positions.
A high demand job
Deciding to pursue a career in accounting and finance ensures that you will have the necessary abilities to work continually in a high demand field. Accounting and finance specialists are required by businesses of all sizes and industries to serve their needs.
It will present you with countless opportunities since more businesses are growing every day. You will have higher job security because you are flexible enough for any financial related job.
For the most part, accountants begin their careers with substantial salaries, which is understandable given the nature of their industry.
Depending on one’s geographic area, whether the company is privately held, publicly traded or run by the government, these pay estimates may differ. More prominent metropolitan locations are likewise more likely to offer better wages than smaller towns.
With a substantial degree and accounting certification, you may obtain from an organisation such as ICAEW to be a qualified ACA.
After obtaining ACA qualification, as a chartered accountant working in business, earns an average annual salary of £134,000. It is estimated that the average global member salary, across all industries, is £108,000.
You can be an entrepreneur too
Aside from working for businessmen, you will have the chance to create your own chain too. Since you have a far bigger understanding of handling finances, taxation and legal matters, you will be able to handle these matters if you’re planning to be an entrepreneur.
During which time accountants have built up a substantial network of business contacts, it is more likely that accountants launch their own business. Due to consistent demand for money management services, even as a self-employed accountant, there is enormous potential to earn substantial money.
How to be ACA qualified with ICAEW
Students must obtain the Accounting Certificate of Achievement (ACA). This highly respected professional degree requires students to complete at least three years of on-the-job training while passing a series of tests before qualifying as an ICAEW Chartered Accountant.
Businesses throughout the world recognise the importance of the ACA qualification, with more than 6,000 firms presently providing training to ACA students.
You will be part of the top list to most likely get hired if you are certified with ICAEW with ACA qualification. Because of the knowledge and abilities that the ACA certificate provides, ICAEW Chartered Accountants are the top choice professionals in the financial services industry.
To pass the ACA qualification, you will need to accomplish 450 days of on-the-job training with practical work experiences, and it provides essential insights into the realities of a profession in the accounting field, such as that of a Chartered Accountant.
You will also receive 15 ICAEW modules covering detailed topics under financial management, legislation, assurance, and business strategy. The following topics are expected to be learned by aspiring Chartered Accountants because they will be useful in their future careers.
You will also be equipped and prepared to deal with various scenarios that you will face throughout your professional life. Because the job of a Chartered Accountant is more demanding than the job of a standard certified accountant, Chartered Accountants must be prepared with higher professional growth abilities.
Learning with ICAEW through your ACA qualification will help provide you with the ability to work under strict pressure while remaining secure in your decision-making. Chartered Accountants are responsible for making critical financial decisions in the organisations that they serve. As a result, it is critical to have high moral values as well as decision-making abilities.
An independent qualification known as the ICAEW Certificate in Finance, Accounting and Business comprises the ACA Certificate Level (CFAB). Independent of the ACA qualification, you can do this task on your own time. They can be done in any sequence and are scored via computer-based testing at one local testing centre.
If you are looking for a professional organisation that can help you in your career, you may visit ICAEW and get yourself an authorised training provider.