Accounting is an integral part of business which helps in monitoring the money which flows in and out of the enterprise. The process helps in not only assessing the financial condition of the organization but also helps in making informed decisions for the future. The field also presents excellent opportunities for people looking to start a career. All kinds of businesses, irrespective of their size, need help from accounting services in India or anywhere in the world to function smoothly. Let’s take a look at the advantages that a person will have on joining accounting companies in large economies like India.
1. Constant Demand Ensures Employment
As mentioned earlier, right from startups to large enterprises, accountants are needed by all sorts of organizations. Every institution even if they are not involved in commercial activities require help for managing their accounts. Professional assistance in the matter is sought from all quarters by parties people or organization who are involved in monetary transactions. Accountants help them by maintaining their books, pay taxes, file returns, do financial reporting, auditing and other important tasks. This means that there is a constant demand for accounting professionals which ensures employment for them.
2. Freedom To Choose The Mode Of Working
A person trained to be an accountant can choose the manner in which he/she wants to work. Many people do not want to work as an employee or wish to work independently. The field provides them with an opportunity to work as a freelance professional who can be hired by anyone looking for help in the matter. On the other hand, those individuals who want the security of a fixed monthly income can join an organization looking for trained professionals.
3. Work In Any Business Vertical
There are no limitations for an accountant when it comes to choosing the industry where he/she can find work. Almost all companies in every business vertical require assistance in managing their accounts and performing various other associated tasks. As compared to someone with technical qualifications who can work only in select industries, accounting professionals can choose to work in any domain. It improves the chances of finding a job and not only companies but even government bodies and consultancy agencies like top accounting firms in India will employ them.
4. Helps In Training For Future Entrepreneurship
It is not only that an aspiring accountant can make a career in the field of accountancy only but working in the domain will help him/her train for entrepreneurship. The valuable experience gained by an individual while managing the numbers for a company will come in handy when he/she decides to start his/her own venture in the same vertical. Even professionals associated with advisory firms like accounting services in India can use their experience to start their own consultancy.
5. Bright Chances Of Career Growth
The field offers excellent opportunities for growth to hardworking, intelligent and sincere individuals. The universal application of accountancy in all types of organizations also opens up new avenues for advancement to the professionals. A person can rise to new heights in a corporation or a government department on the basis of his/her knowledge and experience. Consultants who provide efficient services and update their knowledge regularly can also hope to be counted among experts in the field after some time.
6. Range Of Career Options
Accounting presents a range of career options that can be chosen by a person depending upon his/her expertise. Financial management, taxation, and auditing are separate fields into themselves and an aspiring candidate can opt for either of them to make a career. Experts in all these domains are sought after by companies, individuals and other institutions like banks to get assistance on related issues. Moreover, professionals in the field are also not restricted to only the selected field for advancing their career. There alternative options available and they can opt for a managerial role in the organization where they are serving or start their own business. Many accountants put their knowledge to good use by sharing it with others through teaching.
7. Provide Valuable Service To Society
The occupation can also be used by professionals to make a valuable contribution to society. It is not only commercial organizations or financial institutions that can benefit from the skills of an expert but also charities and other such groups can also take advantage of their knowledge. Accountants can voluntarily offer their services to such organizations and help them by managing their accounts and advising on tax planning.
8. Remains Unaffected By Economic Conditions
While the majority of the industries located in various segments are affected by prevailing economic conditions, the profession of accounting is not influenced much. A slowdown or recession will see the closure of departments in a company but the accounts section will remain operational. In fact, during times of economic hardship companies pay extra attention to financial management as they want to save as much money as possible.
9. Helps Lay A Strong Foundation For A Stable Life
People who constantly improve their skills and earn extra professional certifications in the field can expect to earn good money. Their education will also help them manage their finances more efficiently as compared to other individuals. It is a good profession which helps people lay a strong foundation for not just professional but also personal life.
Making a career by joining accounting services in India or anywhere else in the world will provide an excellent opportunity for professional as well as personal growth provided the individual works with dedication.
Seema Mehra is a Chartered Accountant at Ashok Maheshwary & Associates,one of the best CA firms in gurgaon that provide setting up business in India in a convenient manner. She is a professional writer and loves to share Financial related topics.