Career in Accounting

Among various fields of studies finance sector is considered as one of the most important sector. Accounting is considered as one of the most crucial discipline under finance and it is treated as the backbone of all other discipline in the finance sector. Accounting is considered as the language of business. Accounting is treated as a process of analyzing the raw data, summarizing it and then reporting the final results dealing in financial information to all the interested parties such as an organization itself, may be government, investors, individuals etc. It shows that as the time moves how an organization tracks with their income, assets and liabilities. On the other hand, recording and maintaining the financial records of day to day transactions that take place in business in order to calculate the success or the failure of business is known as accountancy.

Accounting is playing a vital role in the daily life due to growth of trade and industry in an economy. Every business requires an accountant; maybe it is startups, small business or a large one. Thus, accounting business is flourishing and the career opportunities exist approximately everywhere. Accountant is a person who will be responsible to maintain the books of the business. In olden days it was considered that the job of an accountant is just to do book keeping but now the scope of an accountant is broadened. Now a day’s accountant also deals with the planning for the future activities such as planning for the budget, preparing and filing the tax returns. These days all the future decisions on the various projects to be undertaken by an organization is dependent on the financial records maintained by an accountant. Accounting not only deals with an organization it also deals to an individual. Even an individual needs the help of an accountant to maintain its finance, investment options and its tax planning.

Now after doing an accounting course an individual can work as an auditor, taxation agent, as a management accountant, can become a budget analyst, forensic accounting, financial accountant etc. An auditor is a person who checks the books of accounts. Taxation agent is a person who does the taxation planning for the business or for an individual and prepares the tax statements. Management accountant is a person who helps the business in taking decisions such as expansion of business, launching a new product or replacing the older one etc. Financial accountant deals only in recording and analyzing the financial transactions. Forensic accounting is a new emerging carrier in India. Forensic accounting means the accountant used his skills to examine about the frauds taking place in the business and then to analyze the financial information so that it can be used in the legal proceeding. Forensic accountants can also be famous as forensic auditor or investigating auditor. Forensic accountant mainly uses their knowledge of math’s, auditing and their skills of investigating so that they can help the law agencies in solving the crime.

Ms. Himani Gupta

Assistant Professor

Deptt. of Management Studies