Accounting Career

Accounting Career

Accounting is a very interesting career and requires basic knowledge to facilitate daily business operation. According to research, 50% of the financial information provided by accountants is used for significant decision making in institutions. This proves how important accountants are in any institution. An accounting job mainly implies the practice of recording financial information and transactions involving a business. Accounting process involves the summarizing, analyzing and reporting on these transactions to the administrative personnel agencies and tax collectors.

The basics of accounting are knowledge in revenues, expenses, liabilities, assets and cash flows. In this paper, there will be coverage of the reasons for being an accountant, the advantages and disadvantages of working for the state government as an accountant.

Reasons for choosing an accounting position

There is a vast market for accountants in society. Organizations are always in business, making profits and losses and numerous transactions occurring. These institutions need experts to manage their financial information as it is essential in making a major decision. Therefore, there is an increased demand for accountants.

With an increased demand results to a higher salary compared to other careers. There are many organizations; therefore, many accountants are needed. When a company comes across a competent and reliable accountant, they pay them a huge salary for their essential services. Therefore, there is a high salary earned.

Along with the school knowledge learnt, being an accountant promotes the development of skills useful to other careers. The is the question of skills such as fast calculations and typing. Therefore, there are other valuable skills learnt.

Advantages/benefits of working for the government as an accountant

Working as a government account has various benefits. Compensation and benefits package is one of the significant advantages. While taking on an accounting job in the government, one receives benefits such as insurance coverage, vacation and sick leave and education assistance; additionally, there are various allowances earned.

Job availability and security are ensured. The government is a large institution with very many transactions happening daily. Therefore, if a person performs their tasks accurately without any fault, there is less chance to lose the job.

There is a balance between work life and family time. Working as an account means reporting on weekdays and being free on weekends. Additionally, there are leaves and vacation times granted to employees. This enables one to have quality time with family.

Disadvantages of working for the government as an accountant

Despite the various allowances and benefits offered by the government to the accounts, the salary paid by the government is low. In comparison to private organizations, government accounts are paid very little. Moreover, there are constant salary delays which is a big blow.

Despite the hard work and effort put in the work, the government is rare to promote accountants to a higher position. Due to the increased corruption rate in the government, a hard-working and diligent employee may remain in the same position for decades.

Extended hours are working as an account for the government. Research has shown that these people work to a minimum of 40 hours a week. Additionally, they burn the midnight oil in cases of busy financial seasons.

In conclusion, being in an accounting position has its various benefits and limitations. However, it would be advisable to have a side business where you can earn money on top of the salary to survive in such an industry.