Accountants are an integral part of every business. Whether working as a public accountant, at a government agency, a not-for-profit organization or a Fortune 500 corporation, all organizations have funds that must be managed, accounts that must be paid, or invoices that must be issued. If you are looking for a new career in the accounting field, here are the benefits of working in each type of environment.
Public Accountants
Public accountants often work for accounting firms, or may operate an independent business. Careers in this area include the ability to work with a diverse group of businesses in a variety of industries, as well as an opportunity to specialize one’s skills if you prefer to focus on a particular area.
With clients coming and going, and priorities shifting between different accounting specialties, working as a public accountant can be especially appealing to someone who enjoys a level of variety in their work. It also provides an opportunity to learn about different industries and become familiar with a wide variety of businesses of all sizes.
Corporate Accounting
Corporate accountants have a wide range of potential responsibilities. Not only can you be responsible for tracking any outgoing funds or expenditures, you will also be responsible for tracking and forecasting any incoming funds. Some corporate accountants make recommendations regarding spending based on achieving the highest returns, while others may focus on cost-cutting efforts in order to improve the overall profitability of the business. Additionally, employees working in the accounting department may have payroll responsibilities or tax preparation duties. Other areas of expertise can include internal auditing, cash management, SEC filing and divisional financial oversight.
The larger the company is, the more complex their record keeping may be, which can lead to more opportunities for advancement. Additionally, you will have an opportunity to learn the ins and outs of a particular business or its industry, which can increase your value to your employer.
Not-for-Profit Organizations
Not-for-profit accounting departments experience situations that are unique within the accounting community. Tax laws and operating requirements are especially stringent, and require specific knowledge in the area.
With the job comes the intrinsic value of working for an organization with a particular mission. While you may not need to be a current, active supporter to be considered, working for a not-for-profit that supports a cause you believe in can be very valuable. Generally, these organizations are motivated by providing a service for the good of others, and, while proper financial management is important, it can be a different environment than one in a profit driven industry.
Government Agencies
Accountants working for government organizations have missions that are more closely aligned with not-for-profits than those in the corporate sector. The budgeting and cash-flow tracking will be high priorities, as government agencies often work with strict budgets that must support all of the agencies’ operations. However, government agencies do not solely focus on outgoing funds. Certain agencies, such as those that license businesses or individuals, will have incoming funds, as well as those focused on certain public services like unemployment and workers’ compensation.
One of the main benefits of working as a government employee can include comprehensive benefits packages, as well as more standardized work hours. Educational and training opportunities may be available, as well as clearly defined paths for advancement.
Looking for More Advice to Get Your Accounting Career Moving in a Positive Direction?
Staffing firms have the unique opportunity to work with businesses across every sector. This experience gives them the knowledge to help you explore your career options and determine which environment is ideal for your career goals. If you are interested in learning more or are simply looking for a new opportunity in the accounting field, contact The Squires Group today and let their experience work for you!
