Accountancy is a very appealing career for many reasons, one of which is the large variety of different specialisms you can choose from. Not only does this field prove critics wrong by encompassing far more problem solving, investigative, and analytical skills than mathematical, but it also has branches to suit almost every kind of personality. Here, we take a look at the different accounting specialisms available in the hope that we can inspire you to join this multifaceted field.
The term corporate accountancy covers all commercial accounting, aka organising the finances of businesses, and advising owners on best practice in order to make the most of their earnings. Corporate recovery refers to helping business that are going through some financial difficulty, so it’s ideal for those who enjoy problem solving or who are looking for a role that involves helping others.
People think businesses are faceless but there is always someone who would be personally affected by the failure of what they have dedicated their lives to. Finally, corporate treasury is working for a major multinational company which operates in a range of different industries; great for those who enjoy a challenge! You can choose your niche once you become a qualified accountant, following your CPA exams. Don’t worry, there is a CPA review course available if you’re worried that you might not perform as well as you’d like.
Financial accounting may seem like a confusing term, but it is a form of accounting which focuses solely on the transactions that a company makes. Internal auditing is more of a consulting role which takes into account and advises on current and future business operations, in order to ensure that a company is operating in the most profitable way possible. Similarly, risk assessment accounting is an advisory service but focusing on finding potential risks and how to eradicate them.
The clue’s in the name with tax accounting. Businesses have to pay tax on their earnings which can be a complex process that demands the services of a trained tax accountant. And finally, forensic accounting focuses on eradicating financial fraud which effects so many vulnerable people, so it’s perfect if you’re looking for a specialism that has some heart to it.
If you enjoy the process of accounting but the corporate world isn’t one that you’d like to be part of, there are alternative organisations that you can help. Firstly, you could work for individuals who have a significant income which they need help organising, for example those who are self-employed. Secondly, you could work for government departments and help them to achieve their goals by setting up a more efficient financial system, or you could work in rural or estates financing.
Whether you’re after a high-flying role in a huge corporation, or you prefer to help individuals, there is a specialism perfectly suited to you in accountancy. You could help big businesses recover from a financial downfall or fight crime by contributing towards the movement to eradicate financial fraud. There are also roles in the public sector or third sector which allow you to have an impact on society as a whole. Check out middleme.net for more career tips, such as job inspiration for pet lovers or what life is really like for a social media influencer.