Accounting is a Fertile Field to Sow Your Career

Accounting is a popular business term that has been widely used by the business of all sizes. Accounting is the essence of business, without which the business cannot function. It provides the knowledge where we gain profit and where we lose. It's a basic practice followed by our ancestors. When they start merchandising with others, they started recording the money transactions. This is the starting point of the process called "Accounting". This is a global practice, accepted by businesses in the entire world. This article highlights the nature and the scope of accounting.

Accounting tasks are very team oriented. Accounting career starts as a junior member and it ends with even a CFO. The initial responsibilities may be entering the vouchers, recording the transactions etc. Accounting provides the statistical report of the economic status of the business entity. This is the main nature of accounting. It helps the financial decision makers to understand the current economic status to make the managerial decisions. It is necessary to keep the systematic process of recording the daily business activities in terms of money. It is mandatory to record the details of goods and services supplied or purchased, debts are incurred by the customer or credit is extended, you received cash or paid out. These are all the typical transactions which have to be produced in monetary terms. The crucial part of accounting is the preparation of financial statement and the balance sheet. This would provide you the status of your business and make you understand the expenses and the profits. Then you could allocate the expenses according to the profit margin.

Considering the scope of accounting, it has its applications on the sectors such as schools, colleges, universities, government organization, NGOs, small, medium and large scale commercial entities.

Financial Jobs:

Accounting experts can get into banking, accounting, corporate finance, real estate finance and investment.

Accounting job:

Accounting field is a wonderful area where the accountants could work independently. According to the job rated directory, accounting got the fifth best place in terms of low stress, high remuneration and lot of independence. As the demand grows high in accounting field, the recruitment are also plenty.

Financial planning:

Accountants with finance background have the wonderful opportunity to work with investment advisory services, insurance and huge financial sectors. There are lot of courses available for financial and investment planning. The international college of financial planning, New Delhi provides certified training course in financial planning.

Business finance:

This is the special area where the accountants got more chances to shine. The wide range of activities followed by the business finance sectors are fund raising, investment banking, treasury management, and foreign exchange etc., The Indian School of finance offers a master’s degree in Finance.

Hence, there are plenty of opportunities for the students who have completed their graduations in accounting and finance. Accounting is an ever green field which grows dramatically and produces the same growth in the career of the accounting professionals as well.

About the author: Sharan is an expert article writer of accounting and bookkeeping. IGS provides bookkeeping services for companies all around the world. They help you with outsourced bookkeeping service