Run Marketing With A Strong Point Of View
Vague advice doesnt help anyone. So you can engage in content marketing, search engine optimization , webinars, and social media marketing, but if you dont have something unique to say, it will sound like noise to new prospects.
Instead, show your expertise by taking a stance and talking about issues and topics like no other accountant in your market. It doesnt mean you have to invent a new way of marketing – you just need to create actionable, valuable content, and go beyond the obvious facts everyone else is sharing.
One great example of a CPA who is taking his knowledge-sharing to another level is Jason Blumer. He runs his own company, Blumer CPAs, as well as the Thriveal CPA Network, and hes very active on both his Twitter profile as well as his company accounts. He shares direct, personable videos, and talks about the challenges his audience faces, giving actionable advice to overcome them.
Put it into practice: Whether you write a blog post or start a podcast, make sure youre clear on your professional point of view on what your accounting practice brings to your clients. Be opinionated on whats important for businesses to focus on when it comes to their finances.
Why Consider Accounting As A Second Career
The desire to become an accountant later in life may be brought about by a need for increased financial knowledge and job security.
Accountants possess skills that businesses rely on to make and record budgetary decisions. With the ability to organize and make sense of the numerical data of a company, an accountant is a necessary figure in the ranks of any business.
Furthermore, accounting offers varying career options for those interested in the field. Here are just a few reasons to choose accounting as a second career:
So Is Accounting A Good Career Choice For You
Now that youve got a better grasp of the pros and cons of an accounting career, take the time to evaluate whether this is the field for you. If the pros are outweighing the cons, you might want to take a closer look at how to prepare yourself for a job in this field.
Are you still asking, should I become an accountant? It might help to know what kind of commitment is involved. Learn more about what it takes to launch this career in our article Your Step-by-Step Guide on How to Become an Accountant.
1Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, www.bls.gov/ooh/. Information represents national, averaged data for the occupations listed and includes workers at all levels of education and experience. Employment conditions in your area may vary.Certified Management Accountant is a registered trademark of Institute of Certified Management Accountants Corporation.Excel is a registered trademark of Microsoft Corporation.EDITORS NOTE: This article was originally published in July 2014. It has since been updated.
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Why Accounting Is A Most Satisfactory Profession
According to payscale.com, the top salary for an accountant, not being a Chartered Accountant, could go up to Rs. 4,87,303 a year.
There is steady and assured growth for an accountant over the progression of her career. Experience affects accountant salaries markedly.
The highest growth can take place during the middle to late-career milestones.
In a related survey of those working in accounts on the same platform, it was found that an overwhelming 100% gave their profession 5 out of 5 stars.
While females made up for only 5% of those in the profession, males made an abnormally high 80%.
Hone In On Your Ideal Customer
It might be counterintuitive to think about niching down as youre trying to grow, but expanding your total addressable market wont automatically translate to more clients.
Instead, think about how to specialize within a market you already have a presence in. For example, tailoring your services specifically to startups or small business owners, or putting a focus on forensic accounting could help you become known in the field.
Put it into practice: Research the accounting practice market in your area, or within the demographic youre marketing to, and identify how you can differentiate from competitors and stand out to a specific sub-group as the accounting firm for them.
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Practical Tips For Finance And Accounting Career Success
As a young professional, I can convincingly say that Finance chose me and not the other way. In 2014, I received my undergraduate degree in Electronics and I had no inclination towards an engineering career. I was looking for a job where I could use my commercial acumen, communication skills and creativity. When I landed my first job as a Project Controller, I did not consider a long-term finance or accounting career path. I first reached out to a 10th grade school professor who could teach me basic accounting and explain an income statement. So, its safe to say that my finance career started by chance but continuing it for 6 years has been one of the best decisions!
Here are some of the highlights of what I cover in this article:
While my career is still in the toddler stage, what I have amassed in great quantities is credible advice from some stellar finance leaders. So, for folks who are starting their finance careers or already working in Finance, let me share some proven tips from finance leaders with flourishing careers.
All the advice below is from my interaction with my Finance mentors and executive leaders who were kind enough to lend me their time and wisdom. Together we will explore the following advice:
Amp Up On Soft Skills
The increasing use of RPA in Finance has brought soft skills back into the spotlight. While machines can automate certain tasks as well as manage data crunching, they cannot emote a story or empathize with customers. And hence, soft skills such as storytelling, effective communication, impactful presentation and business partnering are key in becoming a well-rounded finance professional. Strong soft skills are the foundation for building a reliable toolkit of negotiation tactics, decision-making abilities and emotion management.
Imagine being amazing at crunching numbers and creating a stellar deck but lacking the communication skills to deliver an impactful story to the Chief Financial Officer. What business leaders look for and remember from the meeting, is how convincingly you delivered your story? Were you confident in your delivery, did you engage with the audience and were you able to add a bit of humor?
A strong suite of soft skills makes you memorable and in turn brings in more opportunities to deliver presentations to executive leaders. If people enjoy listening to your data stories and you make their decision-making process engaging, you will surely receive more opportunities to present to the leaders. Plus, leaders will remember you and that is a sure shot way to promote yourself!
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What Types Of Accounting Degrees Can I Pursue
Depending on the industry or position youâre looking to pursue, the level of degree you choose to earn may vary.
At DeVry, we offer accounting degrees at both the undergraduate and graduate levels. If youâre just getting started, a bachelorâs degree can be a great first step. If youâre looking to expand your skills and continue your education, you might consider earning a masterâs degree or graduate certificate.
Key Hard Skills For Accountants
- Math: Because they spend so much time preparing and analyzing financial documents, accountants need excellent math skills. They often use algebra, calculus, and statistics in their daily work.
- Bookkeeping: Accountants need to know the accepted practices for preparing and presenting financial reports. Depending on the specific position, they need to know how to maintain ledgers and prepare bank deposits.
- Software: Accountants use specific software programs to perform their jobs. They may need to be familiar with programs like Microsoft Excel and Intuit Quickbooks. Other popular accounting software includes Sage 50 Accounting, Oracle E-Business Suite Financials, and ATX Total Tax Office.
- Communication: Managers need updates on the financial status of their company. Accountants need to communicate well both orally and in writing to ensure that organizational leaders can understand complex reports.
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Apply For An Entry Level Job
Before you graduate, youll need to start working with an accounting or auditing firm on an entry-level to help you gain experience and build your resume. It will also help you acquire a professional license and certification, showing that you are a qualified accountant.
You can use various social media platforms to look for accounting firms that need entry-level accountants. You can also network as you ask for referrals to accounting firms or visit job sites and look for open positions relevant to your specialization area.
Working in an entry-level position in the accounting firm can take you at least one-year working full time. When done, you will need to show proof of your work experience, and this will be evident through an accounting or auditing license.
The Potential Demands Of Ongoing Education
While completing an accounting program will establish a solid foundation for you to build a career on, the field isnt frozen in time. Whether it comes in the form of major overhauls or minor tweaks, the laws and regulations that influence your work as an accountant are subject to change.
To be successful in your career, youll need to plan on having some form of continuing education incorporated to keep up with these changes. Additionally, many accountants choose to pursue professional credentials like the Certified Professional Accountant , Certified Management Accountant® and Chartered Financial Accountant . These credentials will all take a significant amount of time and effort to initially obtain and may include meeting continuing education requirements to maintain that status.
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How To Gain Entry Into An Accountancy Career
Internships as an accountant help in cementing working knowledge and adding authority to your resume.
Knowledge of application software such as Quickbooks, Tally or Microsoft Excel is indispensable to reconcile new age imperatives with existing competencies.
Accounting work is seldom understood by solo entrepreneurs and small businesses and so the accountant must be a self-starter.
However, in other organizations, she may be required to work as part of a team and collaboration must also be part of your skill set.
Job Roles Of An Accountant
Most accountants become record-keepers, especially at the entry-level. However, they are supposed to check and maintain calculations, create sales and cash flow reports, administer payrolls, prepare balance sheets, carry out billing activity, manage budgets and inventory.
At a mid to senior level, the accountant may also be expected to file taxes or go through historical reports to create turnover forecasts.
Sometimes, internal audits may be needed to identify trouble areas in performance. An accounting staff must also monitor whether office personnel are adhering to company policies and relevant statutes.
It takes skill for the accountant to prepare management reports with the right amount of accuracy, detail and illustration.
Ordinarily, commerce graduates with an additional diploma or certification in specialized accounting practices may start working as an accountant. Given below is a list of suitable certifications required in different organizations:
- GST & Tax Compliance
- Business computer application software such as SAP, Tally etc.
- CA, CS, CPA
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Is Accounting A Growing Profession
Many benefits come with getting your accounting degree.
Is accounting a growing profession? Yes, it is. In fact, the Bureau of Labor Statistics projects a four percent growth in the field by 2029.
Is accounting lucrative? It sure is. The BLS reports a median annual wage of $73,560 for accountants and auditors. However, the top range for income comes in at over $135,000 per year.
What follows below is a detailed view of what you might expect to experience as an accountant. Well look closer at:
- Job satisfaction
But By Thinking And Acting Big Or Bigger Youll Appear To Others As A Confident And Flourishing Professional
Create an elaborate web presence
So youre looking to grow your accounting career but your business is strapped for resources. In such circumstances, it can be tough to justify splurging on any expense.
Still, developing a strategic, informative and aesthetically pleasing website shouldnt be something you do on the cheap. Loosen the pursestrings and shell out for a professionally designed site, as well as communications experts who can aid you in generating content that will drive traffic to your site.
Last but not least, spend some time establishing a strong social media profile on sites like LinkedIn, Twitter, and Facebook. It might feel a little frivolous, but building a wide social networking presence is actually an incredibly smart use of your time and resources for the purposes of growing your accounting practice or career.
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Your Accounting Career Path: Getting Started
The first step on any accounting career path is to acquire the appropriate education. Accounting is a complex field, so this should come as no surprise. Aspiring accountants have the option of earning an Associates degree or a Bachelors degree, but the latter will open up more doors for your long-term career.
We used real-time job analysis software to examine more than 238,000 accounting job postings from 2017.* The data indicates that an overwhelming 98 percent of employers prefer accounting candidates have a Bachelors degree.
Not only will your degree choice determine the number of jobs for which youll qualify, but it will also determine the types of jobs for which youll qualify, according to Kari Grittner, Accounting program coordinator for the Rasmussen College School of Business. She says an Associates degree can help land you an entry-level position, such as in bookkeeping or data entry. But earning a Bachelors degree is the key to helping you advance past entry-level jobs.
Keen On Learning Accountancy
A career in accounting guarantees a bright future. Take the first step today and explore what accounting courses are on offer.
Bryan Kesler, CPA is a passionate CPA exam mentor with a mission of helping all CPA Candidates struggling to pass the CPA exam find success. As a business owner and licensed CPA, his first priority was to find a firm who could manage his own accounting and provide him with CFO services. He understood that if he was to stay focused on his singular goal of helping as many CPA candidates pass the CPA exam, he shouldnt be the one to handle his own accounting or tax services.
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Components Of A Successful Accounting Career: Skills Credentials Tools And Technology
What kind of Skills Are Required?
Accountants and CPAs tend to excel at math. They also have excellent analytical skills and, because they have to communicate with others, often have good interpersonal skills. Though many of these individuals are already good with their finances prior to working as an accountant or CPA, a perk of the job is gaining even more financial knowledge, which can help accountants and CPAs with personal financial matters.
However, accountants need more than simply financial knowledge to do their jobs well. They must also have strong organizational skills and be extremely detail-oriented. Accounting records must be impeccable since businesses rely on them to make sound decisions. Sloppy records cannot only put a company’s financial stability in question they may also have legal repercussions under corporate responsibility laws.
Credentials
An accounting degree can help get you started, but to really hit a positive career trajectory, consider other credentials such as the following:
- CPA
- CGMA
- CIA
- CISA
- CMA
Bachelor’s degree in business, finance, accounting, or economics postgraduate licensure and/or certification
Career Development Tips For Recent Accounting Graduates
Taking control of your accounting career progression by developing a plan means youre actively involved rather than sitting back and reacting to what comes to you. In other words, you cant just hope everything falls into place. Instead, you have to plan and be ready for everything.
This can be started in the following general ways at first. Write down information to:
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Types Of Accounting Degrees
Degrees in accounting are available at associate, bachelor’s, master’s, and doctoral levels via traditional campus-based learning or online options. Each level of degree can lead to specific opportunities for graduates, ranging from entry-level clerk and assistant roles to academic professorships. Students should identify their goals and understand how the completion of each degree will aid them in meeting those aspirations. A review of each type is given below.
Design Thinking & Innovation
When most people think of design thinking they imagine product designers, large white boards, colorful sticky notes and creative people musing over a customer issue. However, design thinking is more than a set of tools and methods to imagine new products it is also a mindset and a holistic approach to discover solutions. Design thinking evokes people centricity and a focus on value creation.
According to IDEO, In employing design thinking, youre pulling together whats desirable from a human point of view with what is technologically feasible and economically viable.
Design thinking focuses on identifying the right questions and finding new ways to tackle the problem with constant testing of different scenarios. Sounds like something that you would want in a finance person, right?
With dynamic business challenges and the changing mandate of finance, it is important that finance folks understand the principles of design thinking and embrace innovation. Most business problems that finance teams encounter are new and hence it is important to start with a blank slate, empathize with stakeholders and try as many options to figure out the best solution. In short: Empathize, Define, Ideate, Prototype and Test.
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