There are many areas of accountancy to choose from, and it’s great to have a choice, but it can also be daunting deciding which is the right area for you. If you’re certain on a career within accountancy but you’re unsure of the area, we’re here to help. Below we have compiled a list of all the possible accountancy careers, so you can ponder till your heart’s content as to which one suits you best, so here goes…
Accountancy today consists of a lot more than just bookkeepers and auditors, similarly there are a lot more methods to enter accountancy nowadays too, with various accountancy bodies and course to choose from. The first question you should ask yourself is; would you prefer to work in a private practice, commerce or in the public sector. Here we have broken down each of the three options, so it’s easier for you to grasp which you prefer…
Private practice: pretty much all sizes of accountancy practices fall into this category, in fact the clear majority of qualified accountants fall into this category. Services provided within private practices range from conglomerates to much smaller, more humble practices. Roles such as auditing, taxation and management consultancy are available within private practices.
Commerce: Roles within the industry and commerce sector consist of director, chief accountant, financial advisor chief executive, internal auditor to name but a few. Financial accounting, management & cost accounting, as well as other specialisations such as invoicing, tax management and pension fund management also fall under this umbrella. Accountants within industry and commerce form an essential part of the management team. Here you likely to use sophisticated systems to store and analyse financial information both speedily and precisely.
Public Sector: Health authorities, central government and local government organisations all offer a substantial foundation of employment for accountants. Accountants within this sector play a crucial role in the administration and utilisation of these funds. Roles within the public sector can be anything from accountants within government finance, to local government and public bodies.
Accountants within Government Finance
This sector involves more use of financial investigation work not to mention contract costs, budgeting and financial control as well as auditing government-owned establishments. As an accountant within government finance, you will advise non-financial colleagues on management accounting and cost control and there is scope to progress to a more managerial accountancy role.
Accountants within Local Government
To work as an accountant with local government, you’ll need a variety of professional skills. Responsibilities include fire services, transport, housing, parks and gardens as well as social services. The role of each department is to improve the services and resources provided, so all negotiations will need to be conducted justly.
Accountants within Public Bodies
Financial employees working within public bodies will have similar duties to those that work within industry and commerce. It is essential as an accountant working within public bodies, that you follow a strict code of accountability.