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Overview of accounting industry and job opportunities

#Overview #accounting #industry #job #opportunities

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When it comes to accounting, people often think of dry, monotonous numbers. However, in reality, this work is much more than that. Today’s accounting is a mix of analyzing, solving problems, detecting errors. For your job to be effective, you must be able to communicate and deal with people, not just numbers. As such, the duties of accountants are much more diverse than people might think.

If a career in accounting is what you’re considering, learn more about what is required and how you can find a suitable position.

What is accounting? What is English accounting?

Accounting English is Accounting is the way a business records, organizes and understands its financial information.

You can view accounting as a big machine in which you enter raw financial information – records of all business transactions, financial forecasts, taxes … – then give an easy-to-understand story. financial status of the business.

An accountant tells you if the business is making a profit, how much of your cash flow is, the present value of your assets and liabilities, and which part of the business is actually making money. .

Responsibilities of the accountant

While the day-to-day duties of an accountant will vary by location and business, some of the most common accountant tasks and responsibilities include:

– Check the bank statements and compare them with the entries on the ledger;

– Keep track of revenues and expenditures;

– Generate financial statements with the information included above to identify and forecast the financial status of the company;

– Ensure the accuracy of financial documents, as well as comply with relevant laws and regulations;

– Prepare a tax return and make sure taxes are paid on time;

– Analyze data to understand what helps your business generate or reduce revenue to suggest best practices for effective business;

– Provide guidance on cost reduction, revenue enhancement and profit maximization;

– Handling cases of insolvency;

– Negotiate the terms of business transactions with customers and partners;

Accounting work is usually done in the office, with working hours usually lasting more than 8 hours per day at peak times like the end of the fiscal year.

What do you need to find a job in accounting?

Degree

Accountants must have a bachelor’s degree in accounting or a similar field. With this qualification, you will show your employer that you have the training and knowledge to do your job well.

Top 5 skills of accounting

Attention to details. Accountants must pay attention to details in order to keep information accurate and well represented. With the amount of financial data to be analyzed, it’s very easy to make a mistake, and a simple mistake can cause much bigger problems if left undetected.

Business acumen. To be effective in this role, an accountant must understand the basic functions of a business to accurately analyze and interpret financial data.

Analytical skills. Collecting and analyzing financial data is an important aspect in helping to identify potential directions and problems. In fact, the application of data analysis in the accounting field is a new trend in the industry – expected to have an increasingly large impact in the future.

Communication skills. The accountant must be able to listen carefully to accurately collect facts and figures from relevant parties. They must also be able to clearly present the results of their work and their findings in written reports.

Math skills. A common misconception is that you have to be good at math to become an accountant. It is true that mathematical skills are very important for analyzing, comparing, and interpreting data and data. However, complex math skills are usually not necessary in case you want to become an accountant.

Opportunities and difficulties of accounting profession

Like most things in life, the accounting profession has its positives and negatives. But it’s not that a career in itself is good or bad, it’s that it’s only right for certain people, not everyone.

Advantages

It is a steady and growing field of employment. Accounting is not a profession that will disappear anytime soon. The job outlook in the accounting industry is forecast to grow in the coming years. As long as people need help with taxes and as long as the business is around, accounting will be needed.

Career development potential. After graduation, you can start as an employee but the growth potential is huge. After accumulating a lot of experience, you can gain career advancement through performance in the job and additional certifications, such as a general accountancy certificate, chief accountant certificate or certificate of accountancy international math.

Can work anywhere you want. For some career areas, you may need to change your life and move to an industry center to find work. However, accounting seems to be everywhere. From hotel restaurants, schools to travel agencies to software developers, all seem to need an accountant. This gives you the flexibility to choose a workplace.

Business potential. It is unlikely that a pilot will launch their own airline, but accountants can set up their own companies. If you have a little more entrepreneurial spirit, setting up an accounting firm can be a great way to advance in your career.

Hard

Continuously learning. If you become an accountant, your studies will not stop once you have earned your degree. To grow, you need a plan of ongoing learning – at least to keep up with the changes in industry and important certifications. These certifications will take a lot of time and effort to obtain, so it’s important to know what you want to achieve.

Work seems tedious. Accounting is often not seen as an attractive field. Everyday work requires a lot of scrutiny, which can be boring for some but interesting for others. Therefore, you need to learn about daily accountants to determine whether the job is interesting to you or not.

Work can be stressful. When you take responsibility for the finances of an organization, there is definitely pressure. However, the level of pressure can vary depending on the position you take on and your personality.

If you are aiming for an accounting position, try to honestly evaluate your attitude towards pressure and heavy workload. If you’re not a stressful person, then your accountancy might not bother you. If you know you are exhausted easily, perhaps an accountancy career might not be the ideal choice for you.

Accounting industry take how many points?

The accounting industry benchmarks in some schools are as follows:

University of Economics – Law (VNU HCMC): 21-24 points

University of Economics – Finance, Ho Chi Minh City (UEF): 15-18 points

University of Economics, Ho Chi Minh City: 21-24 points

Ho Chi Minh City University of Technology (HUTECH): 15-18 points

University of Finance – Marketing, Ho Chi Minh City: 20-24 points

Trade University: 22-24 points

National Economics University: 24 points

Danang University of Economics: 23 points

Academy of Finance: 24 points

What subjects do accounting subjects study?

The knowledge you will be trained to study accounting include:

Accounting principles

Management accounting

Cost accounting

Audit

Budget analysis

Business strategy and risk management

Financial accountant

Professional ethics and standards …

The ranks of the accountant

Accountants: responsible for entering common transactions into the company’s accounting records, basic account reconciliation tasks and simple financial analysis.

General accounting: responsible for entering complicated entries into the company’s books, managing the ledger, reviewing the accounting work and comparing complicated accounts.

Chief Accountant: is a person in general responsibility for the accounting of the organization. They review complex account reconciliation, set up accounting policies, analyze complex transactions and discuss with leaders on accounting matters.

CFO, or CFO, is the highest level member of the financial function in an organization. The CFO is responsible for the overall financial “health” of the business, ensuring that its financial reporting is consistent with laws and regulations, and the implementation of accounting systems to support the company’s goals. . Furthermore, the CFO is often a financial advisor to a company’s chief executive or CEO on financial aspects of business decisions.

What to do about accounting?

With a bachelor degree in accounting, you can do jobs such as: Accountant, Tax accountant, Sales accountant, Auditor, Cashier accountant … High Furthermore, General Accountant, Chief Accountant or Chief Financial Officer.

Where to find accounting jobs?

With such an important role in any business, you can easily find accounting jobs from social media to job search websites. However, you should choose reputable job sites to ensure the safety of your job search. With a large number of accounting jobs are recruited every day from leading companies on CareerLink.vn, this is one of the reliable addresses for you.

Is accounting a good subject for you to pursue? Hope the above information will help you in the right direction.

Hao Dang



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