3 reasons why you should consider an accounting career

By Linda

Accountants are individuals that help a business by compiling financial data, analyzing the financial information, and creating consolidated and organized financial statements. For people that are interested in accounting, pursuing an education in accounting could be a great option. There are three key reasons why you should consider learning accounting.

 

Career opportunities

The first reason why you should learn accounting is that it could provide you with many different career opportunities. Due to the complexity of the tax code and the importance of having a strong financial system established, accountants are frequently in high demand by employers. Those that complete an accounting program will always have an easy time finding a job, and the compensation provided to accountants is typically much higher than those in other professions. Accountants that further their education to get a master’s in accounting and to qualify for the CPA exam will find that they will have even more opportunities available to them. Accountants are frequently hired by accounting firms, consulting firms, and individual businesses that are looking for in-house accounting help.

 

Understand tax code

Another reason why you should learn accounting is that it could help you to understand the current tax code. If you are a small business owner, you will find that there are many different tax deductions and credits available to you. If you have studied accounting, you will have a better understanding of what these deductions and credits are. This will not only help you to take advantage of these when you are submitting your taxes, but will also help you to better plan for the future as you will know how each decision you make could impact the tax status of your business going forward. Another advantage is that you will receive education on where to study changes on the tax code, which could continue to provide you with benefits going forward as the tax code continues to change.

 

Save money on staffing

If you run a small business, there is a strong likelihood that you will need to take out a loan at some point. Almost all banks will require that you provide them with accountant-prepared financial statements on a regular basis. To do this, you will either need to outsource the accounting work to another company or hire an employee to perform this work for you. In either situation, you will end up investing a lot of money just to have your financial reports completed as accountants tend to be well-compensated employees. If you have a background or education in accounting, then you will be able to avoid most of these costs as you will be able to complete these financial reports on your own if you have the time to do so.

Linda is one of the leading Accountants in Sydney, Australia. She believes Accounting is a great option for students who are good with numbers and looking for an exciting career with strong job security. Linda writes for many leading business and finance news sites and is currently in the process of writing her first book on how to start your own business.