Wherever money is concerned, the word accounting comes along with it. Accounting, in general, is recording the financial statements along with sorting, storing, retrieving, summarizing and presenting the results in various reports and analyses. Accounting has become the key to all businesses, including profit, non-profit, private, public and government agencies. Accounting has become the most desirable profession and has always managed to be in demand. If you love numbers and are detail-oriented, you can consider this profession.
Things to expect in accounting training
But before you step into the field of accounting, there are certain things which you need to consider.
Choose the right education program.
It is necessary to have complete knowledge about the field you will work in before entering a profession. This knowledge will help you choose the right education program. A bachelor’s degree in accounting, finance or business is a good option if you consider becoming an accountant.
Your education programme should cover all the topics of accounting. You can start with basic accounting terms and practices. After that, you can enter into the vast accounting world, which includes financial accounting, public accounting, government accounting, forensic accounting, management accounting, tax accounting and internal auditing.
Practical knowledge is equally essential when it comes to an accountant’s job. You should be well versed in preparing and analysing financial statements, which cover income statements, cash flow statements and balance sheets. You will also become knowledgeable in current trending accounting software that has made the life of an accountant much more effortless. These education programmes will help you learn all the rules and regulations and how they will impact the overall accounting function.
You can also choose an education programme that covers international accounting as you know accounting is a global affair.
GAAP(Generally Accepted Accounting Principles) and IFRS(International Financial Reporting Standards) are two such programs on this topic.
Try to choose an education programme that helps ease your transition from education to a career.
Develop skills through different accounting courses
After graduation, it is better to learn an accounting course in which you are interested. Some of the top accounting courses available in today’s market are CBAT(Certification in Business and Taxation), PGDIFA(PG Diploma in Indian and Foreign Accounting), and PGBAT(PG Diploma in Business and Taxation), SAP FICO, DIA, Gulf VAT, Tally Prime etc. These accounting courses will help you enhance your skills, which are essential in landing a job.
These accounting courses are designed according to the latest trends in the accounting world. You will develop a detailed knowledge of the accounting industry from these courses. There are several accounting training institutes in India which provide these courses. Choose a recognized Institute. Studying in a reliable institute also increases your chances of job placements.
It is a well-known fact that accounting comes along with some complex concepts. But it is part of this well-regarded profession. Everyone’s way of understanding will be different. Some may find it easy to digest, while others find it difficult.
Analysing financial statements is no easy task. You will have to evaluate a large amount of data that derives various business insights. It would be best if you had a clear idea of what you need.
Though initially, it looks like a tedious task, once you master the skills, you will find it very engaging and exciting.
Training institutes also provide software learning courses like Quickbooks, Tally Prime, etc., which is essential in the life of today’s accountants. This software has made the life of accountants much easier.
Develop soft skills
You will agree that technical skills are not enough to become successful in a profession. The accounting field is no different. You will have to develop solid soft skills to climb the career ladder. Some of the soft critical skills you need to focus on are our communication skills, critical thinking, ethics and professional responsibility, information literacy, digital fluency, diversity and teamwork. Now most companies are working in teams. So they want their employers to develop interpersonal skills and work together to better the company.
The accounting journey is not easy. There is a long road ahead. But the destination is worth making you go further. If you want to build a career in accounting, be ready to face some challenges. But after that, you can land a prestigious and high paying job. So gear up and move forward.