Accounting Is Much More Than Figures!

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Preamble

Planning for a career in accounting should begin as early as possible because accounting is a profession that is both challenging and lucrative, offering practitioners a wide range of career paths. Whether one opts for a career in a corporate or government establishment, or one chooses to be self-employed, accounting offers innumerable benefits.

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Why Accounting?

Every organization, big or small, needs the services of an accountant. The skills learnt in accounting can be applied in other fields and in life generally.

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What It Takes To Be An Accountant

• You must be good with figures.

• You must also have a general knowledge to excel. This means the accountant has to know one thing about everything and everything about one thing which talks about specialization.

• As a starter, there is great need to take one's studies seriously. This means a firm foundation in Mathematics and English so that he or she can read and understand statements and also express oneself articulate lyrics.

• Must pay attention to details because one wrong number can cause several financial reports to be incorrect.

• An accountant should also be good at analyzing figures because accounting 8s much more than figures. When an accountant understands figures, he or she should be able to use them to analyze and solve problems.

• The world is driven by technology today, as such, an accountant must learn how to use the computer and various accounting applications.

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Career Choices And Opportunities In The Accounting Profession

Actually, there are several fields to choose from in accounting. They include:-

• Financial accounting

• Public accounting

• Government accounting

• Forensic accounting

• Management accounting

• Tax accounting

• Internal auditing

Sometimes, the name or title of the office varies according to the organization and the job you are expected to perform. Also, one's qualification and experience matters too. One can become an auditor, or actuary, tax consultant, budget analyst, accountant, financial adviser etc. One can work in government, manufacturing, entertainment, telecommunication and any other sector one wishes. An accountant is not limited to any organization or sector:every individual and organization needs the services of an accountant.

These organizations need proper accounts to be kept for their own use and growth because that is how the owners and the public can know what is happening in that organization.

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The Work Of An Auditor

The work of an auditor is not only to detect fraud but to see that accounting procedures and laid down principles are adhered to in every organization and at books have been kept according to the manuals. For instance, in the Federal Government, this is known as financial regulations and for the local governments, 8t is referred to as financial memoranda. These are all guidelines for those operating in this sector to make sure that they have done what is expected of them in terms of drawing up the books and other procedures. So, an auditor is that professional who examines and analyzes accounting records, prepares reports concerning financial status and procedures. He also analyzes data for duplication of effort, fraud or lack of obligation.

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Peak Of The Accounting Profession

The peak is dependent on the sector an accountant works in. In some sectors, an accountant can become the financial controller, head of finance or finance director. In government parastatals, one can become the auditor-general, the accountant General or the permanent secretary for budget. All these positions are the peak of the profession in various organizations and it could be in whatever title the organization adopts.

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Greatest Challenge Of The Accounting Profession

• The greatest challenge is auditing: getting people to put their books right and also do the right thing because when they don't, the accountant won't get the right result.

• Another challenge is getting people to follow the laid down procedure, the financial instruction, the financial memoranda and other guidelines.

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Relevance Of Accounting

Accounting has always been relevant and will still be relevant because in every organization, financial accountability and other levels 9f accountability are necessary. So, you can never wish it away. You can never do away with it. It is a lifelong profession. It is not about whether it is lucrative or not, but it is about the passion to do the job. If you have the passion to get things done in the proper way, if you are someone who demands accountability and is accountable too, if you are keen about accurateness and planning, then you can go for accounting.

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Parting Shot

It is good to know that accounting is a thankless job. One must be ready for the challenges ahead and must be ready to be part of this great profession whether ICAN or ANAD certified, it is a profession that has to come from within. The desire to work in this area of the economy must come from one's mind.