Many of the people who lost their jobs in the 2008 recession had qualifications in the business field. Some companies considered their jobs non essential and either delegated them to others to reduce the wage bill or simply did away with them. However, soon after, projections by the US bureau of statistics gave hope to the field. The bureau estimated a 20 per cent increase in jobs in the business sector between 2008 and 2018. If one is studying or considering studying for a career in business, then being an accountant is one way to go about it if these statistics are anything to go by.
To be a book keeper is not the end of everything. Once one has decided to pursue a career in accounting, then they have to decide which field of accounting they will specialize in. A career in accounting is one of the more profitable and lucrative ones in the field. Not all bookkeeper Doncaster are the same contrary to popular belief. The basic definition of an accountant is the custodian of all financial transactions in a company or organization. The transactions might be purchases, receipts or sales by individuals or other organizations. However, there are many different categories of accountants.
Public accountants are perhaps the ones that many people know and recognize. When most people think of accounting, this is the category of accountants that come to mind. They can do many things, like the traditional book keeping, auditing and tax accounting. This is the category where tax accountants fall in. they also consult and do freelance work for individuals, companies and non-governmental organizations. Many public accountants normally find themselves specializing in specific fields. The most common areas of specialization are forensic and tax accounting. There is a lot of high degree education and experience required to excel in these fields.
Management accountants might do some of the things public accountants do but their job descriptions are completely different. They normally work in house in organizations, helping to guide their financial policy making and direction. They are normally responsible for evaluating the performance of their business and guiding the business in the right direction. They are not classified in the finance sector but are most of the time part of the management team. Some of the tasks they perform are performance evaluation and budgeting. They also do cost control, and take part in controlling activities that determine the profitability of the company or business. Also check a look at this bookkeeping Doncaster that may help you.
Government accountants are like management accountants only that they work for the government. They ensure that the funds available to whichever government agency they work for are spent properly. They also ensure that the taxes are collected. Internal auditors are another category of accountants. They are normally freelancers, and can work for either the government or private organizations. They look for instances of fraud or inefficiency, or any waste. They do not determine how the organization’s money will be spent. On the contrary, they are there to determine whether the spending yielded the results it was supposed to.