Accounting
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We'd define Accounting as the study of how businesses track their income and assets over time.
Accountants engage in a quite a wide range of activities besides preparing financial statements & recording business transactions.
Other specialisms can include computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, assisting clients with business advisory services, quality management, developing and using information systems to track financial performance or tax strategy
Careers in Accounting
There's a lot to get out of a career in accounting. Perhaps the most important aspect is that you will learn how businesses work. The field of accounting offers stimulating and challenging work that is constantly evolving. If you look at the field of accountancy and review the current employment climate in New Zealand you will soon realise that this is a growth area, where the demand is greater than the current supply of qualified accountants.
Becoming an accountant would be a smart move for any person that is interested in working in other countries and even opens up paths of becoming self employed.
Most Accountants spend a lot of time going through the important financial information that drives the business such as margin, gross profit, and can oftern see trends and patterns emerge, they really do see the nuts and bolts of business. So it's no surprise that many accountants and finance employees become Chief Financial Officers of large corporations, or directors of well run businesses; The accountant is the perfect choice to become a CFO (cheif financial officer) because they have the best understanding of what makes the business profitable.
High Demand
The growing demand for accountancy skills is world wide; Jobs are plentiful even in the current weak economy and the money for well trained accountants is good. Taxes, audits, bookkeeping will always also need to be done. if you are not living in New Zealand at the moment but want to work in New Zealand we'd recommend reading our immigration section.
For most graduates; a career begins with a larger public accounting firm throuigh thier graduate recruitment program, however most people do not make partner at public accounting firms simply becuase there as experience increases opportunity may diminish with people already occupying the next leap in the career ladder. working for a larger firm though lends to better industry training. Many move on to careers with smaller accounting firms and or focus in business or government.
If you are ready to start reviewing vacancies from employers and recruitment agencies please review our jobboard.
Accounting: Job Options & Opportunities
Audit
Work in audit involves checking accounting ledgers and financial statements within various businesses,corporations and government. This work is becoming increasingly computerised and can rely on sophisticated random sampling methods. Audit accountancy is the bread and butter work of accounting.
Working within an audit service can lead to significant travel; it also allows you to learn and gain real understanding of how money is being made in the company that you are analyzing. It's great career for those that like figures and are analytical!
Business Advisory
when you want business advice who do you turn to? for some it has to be thier firm of accountants. working in BAS means that you would assist clients with exit stratigies, aquisistion, competitor advice and all types of commercial business assistance. BAS work is not for the faint hearted, especially when you may be working with solicitors and other third parties structuring deals that invlove large sums of money or liability.
These roles do however give some of the best satisfaction when you have helped your client win thier outcome and also can generate large fee's.
Budget Analysis
Budget analysts are responsible for developing and managing financial plans. There are normally a high amount of vacancies in this area from civil service and private industry. Besides having quantitative skills many budget analyst jobs also require good people skills because of negotiations involved in the work.
Financial
Financial accountants prepare financial statements based on general ledgers and participate with important financial decisions involving mergers & acquisitions, benefits planning or long term financial projections for the company.
The work can be varied over time, you may be running a spreadheet one day and then the next day you may be visiting a potential customer too set up a new account and discuss business. This work really does require a good understanding of both accounting and finance and closing skills.
Management Accountants
Management accounting can be described as assisting companies; participating in decisions about capital budgeting and line of business analysis.
Major functions include cost analysis, analysis of new contracts and participation to control company expenses more efficiently. The work often involves the analyzing of the structure of the comapny and developing/ identifying key questions to raise awareness at senior level, like; which people should have authority to spend company oney/assets, are those people that make company targets the right people, are these targets realisitic? does this message relay to all employees?
Increasingly, Managment accountancy is seen as working side by side with marketing to identify and develop new business.
Tax
Tax accountants prepare corporate and personal income tax statements they create tax strategies for thier client to suit thier business or personal needs.
You would be invloved in issues such as financial choice, tax deferral,when and what to expense items. Day to day work is likely to require a thorough knolwdge of economics and current the tax code. We are seeing a trend that large corporations are looking for candidates with both an accounting and legal background in taxation. Again like other areas of accountancy, the tax specialist can earn above average wage and there skills are in high demand.