Are you looking for a career in a field that is always in demand, offers high pay, and has greater development opportunities, then accounting is the right choice for you. Accounting is a very diverse field, and you have many options to choose from. The first step to starting a career in accounting is getting a graduate degree in accounting. After graduation, you can start applying for different accounting programs and jobs in public, private, and international firms.

Different career paths in accounting

However, while the majority of people believe that accounting is a single, homogeneous sector, the reality is that there is no single accounting career path. There are a variety of distinct accounting specialisations and disciplines to choose from, each with its area of speciality.

The good thing about all the paths is that they require the same basic technical accounting knowledge. Once you choose one specific path, you can learn more about the field and excel in it.

Some of the career paths in the accounting field that you can pursue are the following.

1. Public Accountant

A career in public accounting is concentrated in the areas of auditing, taxation, and consulting. Public accountants are either employed by a firm or work independently, providing services to various clients. But to become a public accountant, you should obtain a CPA (Certified Public Accountant) Certification.

A few years are usually required to progress from entry-level roles to positions with greater responsibility, and another few years are required to rise to a senior post. If you perform exceptionally well in your current position, you may advance to director or manager. You can also opt to open your accounting firm.

2. Forensic Accountant

It is a specialised field, and in this job, the accountant does a forensic audit of the firm’s financial statements. Such accountants specifically look for the crimes such as fraud and misuse in the statements.

3. Managerial Accountant

They are also known as corporate accountants. Their role is much focused on analytical functions and reporting of the accounting procedures in the firm. They are also involved in providing guidelines and suggestions in the decision-making processes in the organisation. Budget analysts, financial reporting specialists, and cost accountants all come under managerial accounting.

Management accounting offers significant career growth, and one can advance to the position of budget director, financial reporting manager, etc. some managerial accountants with extraordinary accounting knowledge and skills and leadership traits can also become financial vice president or corporate president.

To advance your career in managerial accounting, you should obtain a CMA license.

4. Taxation Accountant

A tax accountant specialises in tax accounting, producing quarterly and annual tax returns for individuals and businesses.

5. Internal Auditors

Internal auditors do compliance and performance audits, monitor and create internal controls and internal control systems, and assist with developing and implementing new information systems.

For career advancement, the internal auditors must obtain CPA certification and a CIA (Certified Internal Auditor) license.

6. Government Accountant

Government accountants operate in the government sector, managing financial data for all levels of government.