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A couple of years ago, I was in a marketing major, but I was not really interested in it. One of the requirements to graduate was to take a financial accounting class. While I was taking this class, I realized something, that what I want to do for the rest of my life is to work as an accountant.
Accounting is to analyze and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
Accounting is one of the most important aspects of running a business. In accounting, you can find some features, also called business transactions, that are essential for a company to run. Some of them are accounts receivable and payable, financial close, time and expense capture, fund accounting, project accounting, and revenue recognition and management.
Accounting has two major subfields - audit and tax. One is auditing accounting, which is the verification and unbiased examination and evaluation of the financial statement of an organization. Another is tax accounting, which concentrates on the preparation, analysis, and presentation of tax payments and tax returns.
The nature of accounting is based on what type of company it is. Everything depends on the point you are looking at accounting, these could be as a science or art, as an information system, a language, a social force, a profession, and/or a service activity. Looking at the nature of accounting as art refers to the way of performing something. Accounting is the art of classifying, recording, summarizing, and finalizing financial data.
Accountants have a list of duties and responsibilities when they are doing their job. Some of them are: examining bank statements and reconciling them with general ledger entries; examining expenses submitted by employees; keeping an eye on inflow from accounts receivable and outflow from account payables; creating company financial reports, analyzing data to understand where the company is generating or losing revenues and state the company's financial health; or generating financial reports that display the company's profit, equity, and cash flow.
This career does not require a minimum qualification to work in the industry, but most accountants go to college and get their bachelor’s degree. For those who want to become a Certified Public Accountant (CPA), the minimum education requirement is a bachelor’s degree.
Accountants face challenges while they are pursuing this career. One of their major challenges is to keep focus under pressure and be detail-oriented. A simple error can make your work all wrong. Because of this, it is necessary to focus, even though sometimes it is hard. There are moments when you are working under pressure, and you have been working for long hours because the deadline is tight. In situations like this, you need to keep focus on your job as much as you can. Another challenge is to have clear that in this career learning and study is never over. During all the years you work as an accountant, you need to keep preparing and training yourself. There is always something new related to rules and laws.
On average an accountant works 45 hours a week. During peak seasons, this is around 50 to 60 hours a week. The busy season for audits is from January to March, for taxes from August to October.
The salary of an accountant varies depending on the company and the level of experience. An accountant with work experience from 0 to 2 years can make around 38,000. On the other hand, one with more experience is around 63,000. If an accountant has a CPA license, they can get to make around 119,000.
Grow in the accounting sector is not hard, nor easy. It all depends on the dedication and love you put into your work. Also, the effort and hours spent to achieve your goal. In this career, as in any other, only you create your limits and barriers. The doors will always be open for an entrepreneur.
A certain amount of skills is needed for this profession. The most important thing that you need to know is how to deal with customers and satisfy them. I have been working as a Customer Service Staff for quite a long time, and for me, it is essential to see how customers feel satisfied with my work, and more important when they return in search of my service. Another necessary skill is knowing how to organize and prioritize your work. It is necessary to be very organized in this profession because your work has a lot of important information and documents. Also, know what you should do first, in case someone else depends on it to complete her/his task. Knowing how to multitask is very important too, you can find situations where you will need to be doing several things at once, and it is extremely necessary that the work is done well. Last but not least, be a team player. In the accounting field, you will find a lot of teamwork. It’s important to know how to work as a team, how to help and receive help from others, and how to cope with a stressful environment and change it into a harmonious one.
In conclusion, accounting looks more appealing to me than any other profession because in this career I will be doing two things that I love. This profession gives me the opportunity to help clients, work, and play with numbers. It helps me develop my skills as a professional. I know there will be good and bad days, and situations where I will have to overcome obstacles and grow as a person. As an accountant, I will have to continue studying to be able to keep up and provide my best service. In the future, I would like to not wake up with regret in the morning because I have to go to work. I feel that this profession is ideal for me because it is something that I am studying with love and something that would not regret doing for the rest of my life.
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