Career Woman

8 Exciting careers for women in the accounting field

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The state pension age for women in the UK is 63 years, which is also roughly the same age when women retire. For someone that started working in their mid-20’s for example, those are almost 40 years of service. For you to spend almost four decades on a job, it’s key to find something that aligns with your passions. If you love numbers, accountancy is one of those careers that offer a variety of fields to narrow into. Here some eight exciting careers in accountancy for you to explore.

1. Environmental accountant

This is one of the younger fields in accounting. Environmental Accountants combine finance and accounting skills with environmental science expertise, regulation, and public policy. Their main role is calculating compliance costs and cost of environmental impact on business operations. While businesses previously saw environmental implications as unnecessary overhead, today, compliance and environmentally friendly policies are getting more thought.

2. Forensic accounting

Forensics refer to any investigative methods that are acceptable by law. There are two types of forensic accounting. One is litigation support and the other is investigative accounting. In litigation support, a forensic accountant is called in as an expert witness, or as a consultant to one of the parties in a case. On the other hand, investigative accountants use quantitative methods and auditing to reconstruct financial records and make determinations on the possibility of fraudulent or otherwise illegal activity to have occurred. This brings together sleuthing and love for numbers.

3. Tax accountant

They say taxes and death are the only sure things in life. For a tax accountant, that means work and more work. This is another field taking finance courses online can prepare you for. Tax accountants understand tax reporting guidelines and prepare compliant tax reports. These reports range from simple individual returns to more complex services for multinationals. n addition to tax reports, tax accountants oversee tax planning and decision making.

4. Chief financial officer

The CFO position is among the highest accounting positions there is. This comes with its fair share of authority and responsibilities. To become a CFO, one must have a mix of attributes, including academic, proven hands-on experience in accounting and a stellar record in leadership. The larger the organisation, the more critical this role becomes. Where money is concerned, the buck stops with a CFO. If you are one for challenges, this is where to set your eyes.

5. Payroll accountant

Payroll accountants play a central role in companies with many employees. Both small and big business must comply with compliance regulations and payroll reporting. In this regard, they act as a go-between between employees, the organisation and the government. Their main roles are ensuring the integrity of employee paychecks and tax documents.

6. Actuarial accountants

This is a statistics-based science mainly in the insurance industry.

Aside from the insurance industry, actuarial accounting methods are also applied in assessing financial investment risks and government-run pension funds.  Essentially, actuarial accountants apply statistical methods to assess risk and make recommendations to companies and government that allow them to maintain a sound financial footing.

7. Internal auditors

Government, nonprofits, public and private organizations hire internal auditors periodically. Internal auditors study and evaluate an organization’s information security controls, compliance and operational efficiency. Another huge part of their role is detecting, investigating and deterring fraud within an organisation. Internal auditors work autonomously and provide objective recommendations to the company’s board.

The CIA (Certified Internal Auditor) is a specialized certification for internal auditors. Earning a CIA certification is worthwhile because it is recognized internationally and gives you a wide range of career opportunities. In order to get it, you need to have a bachelor’s degree, a minimum 2 years of work experience and pass a CIA exam, which is not so difficult if you choose the appropriate preparation materials.

8. Cost accountant manager

Cost accountant managers essentially serve as financial gatekeepers. Their role focuses narrowly on analysing the costs of production, and pricing. These two factors are key for businesses to realise a profit. These accountants are required to have strong analytical abilities and expert knowledge in economic forces that are key price determinants.

Accounting is a fulfilling, multi-pronged career that directly places you at the core of an organization’s success. If you are analytical, love numbers and are detail -oriented, this could be a long, satisfying career path for you.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best.We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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