Financial accounting careers involve public reporting of a company’s finances for stakeholders who require information on a company’s financial status. Stakeholders could be either internal management and leaders or external
There are many career options for you if you have a diploma in financial accounting and taxation. Some of the top careers options are financial accountants, auditors, financial managers, comptrollers, management accountants, and financial analysts. Let’s take a closer look at each of them.
Financial Accountants Career
Financial accountants are responsible for record-keeping and preparation of monthly, quarterly, and annual financial reports which will be useful for budgeting future sales and expenses, internal auditing, data analysis, and preparation of final accounts for presenting to external stakeholders. Big companies recruit chartered accountants for this role.
Auditors examine all the financial statements of a company to ascertain its fairness and materiality according to financial reporting standards. They can work as independent firms or with companies as internal control agents. In some cases, they may be employed by government bodies to audit books of government agencies, private sector businesses, and individuals who need to conform to certain regulations while paying taxes.
If you have a diploma in accounting and taxation, then a career as a financial manager is not a bad option. This career involves handling the different financial functions within a company. Some of the tasks that financial managers perform are accounting, meeting the financial goals of the company, managing short-term and long-term investments, negotiating financial terms with external institutions, and planning mergers and acquisitions. Besides, they perform many other crucial financial functions.
Controllers look after the operations of the accounting department of a company. They see to it that the ledgers of income, expenses, assets, liabilities, and financial statements are maintained according to the laws and regulations. Controllers maintain a set of controls and budgets to minimize risk and improve the accuracy of the financial results of a company. In small companies, they control cash flow and risk management. In senior positions, they are also called comptrollers.
Management accounting is a great career for those who have a diploma in accounting and taxation. This role involves analyzing financial information to prepare and present reports that aids decision-making to achieve strategic goals. They do this by performing cost-reduction analysis, competitor analysis, variance analysis, tender preparation, investor appraisal, etc. This role is a combination of accounting, finance, and management.
If you have done diploma courses in taxation, you can also get a job as a chartered accountant which is a high-paying job. In this role, your duties might include financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery, and insolvency or accounting of systems and processes.
GAPA Education’s advanced diploma in financial accounting and taxation prepares you for the CA Inter Group 1 exam. Our teachers believe in putting you first. That is why you will always receive support when you need it. Through lectures, seminars, tutorials, and workshops you will learn, discuss and gain first-hand experience of how business and finance work.