I have written this article in the past; however, I wanted to refresh it because my students in QuickBooks Training Classes always ask me if, it is worth it to invest into the Accounting Education. So here we go:
As all businesses become more technology driven, more globally connected, and transaction complexities emerge, certain fields have gained preference in today’s global job market. One of these is Accounting. Accounting generally a very conceptual career, is usually more about information handling than any hands-on approach to product development. However, as trends evolve, accounting is becoming a much more diverse and less a question of ‘crunching numbers’. Technology has also shaped the industry into a whole new level for example the growth of QuickBooks and REMOTE ACCESS has changed how accountants work and the service they perform for their clients.
Today, there are specific accountants who do separate jobs and responsibilities as part of a given company. There are accountants who monitor spending and resource use; these are called ‘audit’ accountants. Technology Accountants typically consult of accounting software, required hardware and efficiency procedures using internet and computers. Then there are other professionals who use accounting information to work out processes and to facilitate decision-making, these are referred to as ‘management’ accountants.
One could say that while audit accountants are involved in book-keeping history, management accounting is a process of looking to the future to try to foresee events and plan for these in terms of a company’s resources. ‘Ledgers’ and classic ideas of accounting belong more to audit accounting, while management accounting deals directly with the machinery of a firm. Both positions require people skills and analytical skills; both types of accountants need to know how to use computers. Spreadsheet software like Microsoft Excel is popular in keeping accounting information available in a flexible format.
As to the issue of how the two are related, audit accounting is often considered more essential to small businesses. A small business may not need any more oversight than the owner or general manager can provide, but someone always had to keep the books. Also, in management, the old adage may apply that ‘too many cooks spoil the broth’. Management accounting seems to be a more useful role in large companies that need many consultants to micro-manage a variety of projects.
There is whole other world in taxes. Tax preparers can have any of these designations: Enrolled Agents, Registered Tax Return Preparers, CPA, Tax Attorneys I will not get into Tax in this article, but will discuss it in a future article.
In general, accounting is becoming a popular career choice. Some may shy away from it due to an aversion to how accountants have been described in the past. Some people ‘don’t like numbers’ and consider accounting work to be unbearably dry or tedious. Others, however, have already completed their degree to become a CPA (Certified Public Accountant) and these may find themselves well placed in high-profile audit accounting positions. For others, management accounting provides a new look at a classic career.
Either way, the study of this valuable field can be a good way to get into a certain kind of company. many companies are hiring temporary accountants, and the abundance of opportunities means that employers and university graduates may be able to find each other through the phenomenon of accounting, as the majority of businesses turn their efforts toward the study of resource allocation, asset management, or more simply, crunching numbers.
I mentioned this in our QuickBooks courses once and will mentioned again. Invest in your accounting career, be more technology focused, and learn QuickBooks very well… wether you learn on your own or take a QuickBooks Training class!
Hector Garcia, RTRP
QuickBooks ProAdvisor & Registered Tax Return Preparer
QuickBooks Training Courses, South Florida