Like most careers, accountancy occupations offer advantages and disadvantages, just like almost anything else in life. The fact, though, is not whether the career is excellent or terrible per se, but rather if certain people are a good fit for it and others are not.
So are you a good fit for a career as an accountant? In this article, we take a look at some of the pros and cons you can associate with this type of work.
Benefits of a Job in Accounting
1. You can pursue a solid career path
When you study accounting, you get the relevant, well-defined abilities that employers demand for a particular range of professions. Compared to someone who decides to study philosophy or English, where the possible job opportunities are more open-ended, this gives you a much more definite career route.
If you gain an accounting degree, you’ll have a solid idea of the direction your profession will take in the future. There are various types of accountants, but you will typically have the same duties and use the same skills.
2. This industry is experiencing consistent job growth.
Accounting is not going anywhere anytime soon. Nearly every company needs an accountant or an outside accounting firm, and occasionally even the average person needs to hire an accountant. As long as people need help filing their taxes and there are businesses, there will always be a need for accountants.
3. You are adaptable to any setting.
Despite the fact that opportunities do naturally tend to cluster in large urban centres, there is still a demand for accounting specialists across the country. Everyone might likely profit from an accountant’s services, from farmers to governmental organisations to software development companies. This gives accountants some flexibility in terms of where they can choose to live.
4. There are opportunities for entrepreneurship.
As an accountant, you very much have the ability to become your own boss. If you have some entrepreneurial energy, an appropriate strategy, and accountant insurance in place, starting an accounting firm could be a great way to enhance your career.
Cons of an accounting career
The accounting profession certainly has its disadvantages, just like any other. Here are some of the less appealing features so you can determine whether a career in accountancy is right for you.
1) The potential need for further education
Even though you’ll have a solid foundation for your profession after graduating from an accounting programme, the field is always changing. Whether it takes the form of large alterations or modest tweaks, laws, and regulations that have an impact on your work as an accountant are constantly susceptible to change.
You must incorporate some form of ongoing education if you want to excel in your career and stay abreast of these advancements.
2) The work could seem tiresome
How many highly regarded accountants do you know? You’re probably having difficulties thinking of one since accounting isn’t traditionally thought of as a “glamorous” field. However, not everything is about celebrity and glitz. Many hours of research and math are required to perform the daily tasks associated with accounting, which may be interesting to some but tedious to others.
3) You can have very busy periods.
An accountant’s typical workday is from 9 to 5, with the exception of times when there are tight deadlines. The crucial date is April 15 for tax accountants. The majority of tax accountants’ job begins after January 1 and continues through April 15.
During the busy season, long days and weekend work are typical as accountants work to organise the money of their clients. The good news is that after you get over that, things start to really slow down. In this sense, accounting jobs offer some flexibility in the yearly schedule.
4) The work may be difficult.
When you are in control of an organization’s finances, pressure is unavoidable. But you should be aware that stress and pressure could have an impact on your overall mental health.
In these uncomfortable circumstances, the location of an accountant’s employment and the specifics of their duties play a vital role. It’s reasonable to anticipate that as your position and responsibility for managing money increase, you will feel more pressure at work. The extent to which this pressure makes you more stressed out will depend on your personality.
It’s important, to be honest, while evaluating your attitude toward pressure and difficult jobs. If you don’t get stressed out easily or don’t mind a bit of pressure, working as an accountant might not bother you. If you are prone to stress, an accounting job may not be the greatest choice for you.