In 2020, a job in finance, banking and accountancy are high on the charts compared to most normative jobs. It is a common accountancy myth among people who assume it to be a number-oriented boring subject.
It’s quite the opposite, accountancy-based job roles are on high demand with the rising financial matters both nationally & worldwide. It is true that accounting involves numerical skills but so does mathematics, physics, and chemistry. There is way more to accountancy than just numbers.
Recently there are more than a few technological integrations happening around accountancy which makes it very futuristic. Unlike traditional times, Modern Accountancy is big, trendy, and popular among Gen Y. Businesses benefit greatly from accounting as it provides:
- Financial performances of the organization
- High-level summaries
- Underlying transactions
Let’s See Some Of The Features Of Modern Accounting Involving Software Technology
- Automated, Complaint Financial Progressions
Modern accountancy lets us analyse and manage financial information without any complexity or external reporting tools. Modern accounting system adapts easily to the business structure and makes our workflow flexible
- Business Insight
Current accounting software gives us a real-time insight into business finances, benefit from new business opportunities and quick corrective methods.
- Cloud Architecture
Modern accounting is cloud-based, and it helps in-
A. Lowering IT costs
B. Reducing technology risks
C. Improving productivity
- Right Choices
Accounting systems automates and streamlines core financial management functions such as:
Accounts receivable, Accounts payable, Financial close, Fund accounting, Project accounting, Revenue management
FIVE Reasons that Makes Accounting Super Interesting
1. Makes You a Big Part of Big Business Deals
A. Accountants play an important role in financial decision-making, company strategy, business initiatives, metrics, and analytics.
B. As an accountant, you will easily identify and resolve potential year-end deductions
C. You can simplify the dreaded audits through accounting guidance and counselling
2. Accountants are Consulting Assets
As an accounting consultant, you are a high-value company resource
A. You actively organize the financial statements and maintain balance sheets
B. Moreover, you act as a consultant to business leaders and clients in regulating financial choices
C. Accountants are also key strategists during financial campaigns
3. You Can Start Your Firm Quick & Easy
With enough field/company experience, accountants can easily start their accounting practice. Many accountants are entrepreneurs by the time they are 40. Independent accounting practice helps with
A. Managing and executing their career direction
B. Enjoy accounting without being answerable to a ‘boss’
C. Adding a business element to the accounting/bookkeeping background
4. Diverse Opportunities with Multi-fold Accounting
Accountancy comes with multiple roles by its stride. It has ample job security with opportunities to work overseas. As an accountant, you can work for-
A. Big corporations
B. Small to large accounting firms
C. Forensic accounting
D. Public Sector, Private sector
5. Accountants Are Financial Superstars
Accountants play the most important role in evaluating business performance, certifying statutory compliance, creating and predicting financial projections, and taxation. It is only with the help of accountants, companies can-
A. Forecast the profit and loss
B. Get a clear picture of the date-wise financial situation of their businesses
C. Generate cash flow statements
D. Bridge the gap between the income statement, balance sheet and reports of a specific timeline
Therefore, it is evident that accountancy is not only exciting but also, a growing career opportunity among millions. It is a thought-provoking subject and guarantees job-security in the future.
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