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University Degrees - Accountancy
It is beyond a cliché these days to think of accountants as silver-haired bean counters who spend their time leafing through dusty pages in oak-panelled offices. In fact accountants from top universities with good university degrees have become invaluable.
Graduates with a top university degree are now in high demand from corporations, individuals, governments, charities and all kinds of organizations and individuals. There is a wealth of modern software and other inventions designed to facilitate an accountant or auditor’s work.
The trend in modern times is as far from that clichéd image as chalk is from cheese. Companies are more and more interested in accountants with a wide and varied background and with strong communication and interpersonal skills, as well as university degrees. Accountants are becoming more important in businesses and in the management decisions that affect them. Whether you study abroad or at home you may be arming yourself with a very versatile university degree.
What is Accountancy?
There are approximately five major fields in accountancy.
· Public Accountants can have a varied range of clients, from individuals to small companies to governments and are expected to keep in close touch with the tax laws of any given nation.
· Consultants offer advice in large and important areas such as design of accounting or overall data processing systems within an organization, and the selection of controls to safeguard assets.
· Forensic Accountants investigate bankruptcies and complex financial transactions, and can be responsible for valuing a company’s assets during liquidation.
· Management Accountants record and analyze a corporation’s financial information and asset management.
· Public Sector Accountants examine records of governments and businesses whose activities are subject to government regulations or taxation.
Is accountancy for me?
Accountants need a strong set of skills, in particular strong maths, close attention to detail, an interest in keeping up with trends and laws in the field that change on a regular basis, and advanced problem-solving skills. Accountants and auditors will often receive very complex problems and an advanced analytical approach, with the ability to spend long periods of time on small details, will be necessary.
Additionally, there may be a great deal of responsibility involved. In many cases, the buck stops with you as the accountant or financial officer. Organizations and individuals will come to rely on you as much as they would a lawyer, to maintain an incredible degree of accuracy as a business or an individual’s books can be subject to intense scrutiny by tax officials, for example. As such, if you study abroad, you may have to become extremely familiar with two sets of tax laws, or three if you plan to live in another country after completion of your university course. Being able to work under pressure is an important ability and, if you thrive on pressure, it may suit you.
Owing to complicated international and local tax laws, it is crucial for accountants to maintain knowledge of complicated shifts in tax and other laws. In order to provide the best service to their employers or, in the case of public accountants, their clients, accountants have to stay on top of changes in their field. Accordingly, membership of organizations and subscription to journals and magazines will be important.
What courses are available?
Perhaps more than many professional careers, accountants are required to have some kind of professional qualification or licensure – this is due to the complex and often legal or regulated nature of the work. A Bachelor’s degree in Accounting (BAcc) is an excellent step on the ladder and there are a number of options and qualifications that you will be able to take in order to specialize in the future.
What are the career prospects for an accountancy graduate?
According to recent US Bureau of Labor statistics, employment of accountants and auditors is expected to grow by up to 20% before 2008. This means that not only is the future likely to stay rosy for accountancy graduates, but that the proliferation of skills and responsibilities is also set to expand.
