It is no secret that the foundation of any business- no matter the sector, no matter the intent, no matter the impact – is money. From revenue growth, to stock prices, to expenses and beyond, in order to survive in this society, a business must be bringing in money, and not only that, but sustaining it by making smart moves and sound decisions.
Enter the money savvy individual. Those who either have a natural knack for math and all things cash, or who may have taken an interest in the complexities of capitalism and a good number crunch.
With a degree in accounting, anyone can transform a knack or an interest into real-world application. A curiosity in the economy and the marketplace, or a passion for math and statistics might transform into a career dedicated to helping build the financial foundation of a business and ensuring secure futures for individuals and families alike. Through developing the proper skills, gaining valuable experience, and garnering the expertise, one can not only build the financial foundation that every business needs, but can actually become its very pillars.
Career paths for those who pursue a bachelor’s degree in Accounting include a variety of possibilities with high growth and income potential. According to the U.S. Bureau of Labor Statistics, the accounting industry is experiencing a growth rate of 4 percent, and the bureau predicts the industry will add 61,700 new positions between 2019 and 2029.
Here are just a few of those growing positions available to accounting graduates within the industry:
No surprise here. The classic way to go. Be responsible for keeping and interpreting financial records for individual clients or for larger businesses and organizations alike.
One of the most in-demand specialties in accounting today. Since almost all banking, trading, and other financial transactions are online, and there are apps for everything from budgeting to investing, to uploading checks, unfortunately, it’s never been easier to commit fraud, embezzlement, identity theft, and scams. Forensic accountants produce audits to prevent that fraud and determine liability in this virtual world.
Marry your knack for numbers with a passion for the environment by analysing impacts of company decisions on the planet. With new Green Policies in the works on all government levels, and individuals trying to lower their carbon footprint, positions like this are an invaluable piece of the puzzle to bring these important plans and ideas to fruition. You’ll produce reports and make recommendations for green projects or environmental government decisions, as well as determine fiscal impacts of new regulations and perform analyses to determine the fiscal strength of a new project to help save the planet.
Always a smart investment in the future, because odds are there will never be a shortage of people who need help to make the best financial decisions to prepare for their future. In fact, in a recent survey, 61% percent of respondents said they wanted guidance on retirement planning, 52% on amassing more savings and 50% on paying off their debts. Advisors help to establish a game plan that puts a client on track to achieve their financial goals, help set up retirement plans and accounts, such as IRAs, education funds, or other accounts that align with client goals. Essentially, you’ll help a business or individual eliminate financial risk and build wealth.
If you’ve got a flare for the marketplace, this is the way to go. Financial analysts provide guidance on investment decisions by assessing market trends and the performance of stocks, bonds, and other types of investments. You’ll determine the risks and benefits of investment activities, including both selling and buying investments.
An auditor reviews the accounts of companies and organizations to ensure the validity and legality of their financial records, plus may act as an advisor to recommend possible risk aversion measures and cost savings.
Nowadays, an actuary can find work in a variety of fields beyond insurance, from finance and investment to homeland security, public health, and even government. Having a highly applicable skill set rooted in math and statistics which can analyze data and make predictions about the most probable outcomes of a situation is not only valuable, but in high demand. With a few extra steps and tests under your belt, you can meet that demand.
Clearly, there is much to explore post grad with a Bachelor’s in Accounting far beyond the traditional reaches, as technology continues to evolve and people continue to need assistance crunching the numbers as they follow their dreams and commit to their goals. As an accountant, you support and uplift those goals. You have the power to select what organization, business, nonprofit, or government policy aligns best with your values and interests, and you can help them attain and sustain their goals by becoming the very pillar of their financial foundation.