What is Accounting & Tax? Jobs / Careers in Accounting & Tax

Tuesday, 5th January 2010

As the collectors and interpreters of financial information, accountants develop comprehensive knowledge of virtually all business functions and relationships with key decision makers.

Managerial accounting is the field of accounting that serves internal decision-makers, such as top executives, university deans, hospital administrators and people at other managerial levels within an organisation. It involves the identification, measurement, accumulation, analysis, preparation, interpretation and communication of financial information used by management to plan, evaluate, control and assure the appropriate use of its resources.

Financial accounting, on the other hand, is a field that addresses the needs of decision-makers external to the organisation. These decision-makers can include credit and equity investors, suppliers, lenders, government agencies and regulatory bodies, special interest groups, labour unions, consumer groups, and the general public. The financial accounting process culminates in the preparation of financial reports, such as daily balance sheets and quarterly or yearly income statements that help to answer questions such as “What is the financial position of the firm on a given day?” and “How well did the firm do during a given period?”

Within these main areas of accounting exists a variety of custom tailored sub-types that address specific needs such as auditing, taxation and consulting, which can further be sub-divided by industries such as property, banking, and so on.

As a profession, opportunities in accounting are well-spread across the UK, with plenty of prospects regionally, spreading small, medium and large companies.

Graduate candidates choose one of three main qualifications when signing up to work with accountancy firms – ACA, ACCA and CIMA. It offers a broad range of specialisations and opportunities. These include:

Audit & Risk: Verifying and checking company accounts and operating controls.
Corporate Finance: Mergers, acquisitions and fundraising.
Forensic Accounting: Fraud & audit accounting.
Tax & Advisory: Helping clients minimise their tax liability.

How do I get a graduate scheme / internship / entry level job or career in Accounting?

Obtaining a graduate scheme, internship or entry level role in accounting can be very challenging and competitive – though very achievable by getting your application, CV, interview and general approach right. You can guarantee that ninety percent of applicants for accounting roles will not know how to apply, so getting your application in the top ten percent makes things a lot more achievable.

Approaching the company in the right way will make all the difference. Combining the right approach with a strong interview (and in some cases assessment centre) writ a strong focused tailored CV will go a long way. Make sure you have gone through the free videos on this sight by entering your name and email address in the top right of this screen underneath the video. Once you have filled this in you will have instant access to everything you need to secure your career in accounting.