Job Prospects for Accounting Graduates – Until now, the Accounting major is still one of the most sought college majors by prospective new students. This major itself teaches the art of classifying, recording, and summarizing in a monetary measure. Accounting as a branch of science that is much needed in the business world.
No wonder then there are many companies that accept accounting graduates to help with financial management. Want to study in this major? Here are some promising job prospects that await accounting graduates. What are those? Check these out!
The Accounting major is perfect for those of you who have an interest in the world of finance and want to dive deeper into the business world, you will learn about various transactions in it. Studying in this major will also teach you various things related to financial statements. At the beginning of the lecture, you will be invited to study an introduction to Accounting or Financial Accounting which contains various basic knowledge of Accounting and its further understanding.
Entering the second year, you will be invited to study intermediate financial accounting, which contains the development of a basic understanding of accounting towards a more complex scientific field. For example, in bonds transactions and how to calculate share capital in more detail. Furthermore, entering the third year you will study Advanced Financial Accounting which studies the preparation of financial statements in a company. Here are some job prospects for Accounting graduates that can be your choice:
A career in accounting itself promises quite a promising income. Not only that, his career advancement is guaranteed. According to statistics from the American Bureau of Labor, the average income of an accountant can reach up to $65,940 per year.
Although this number can vary greatly, depending on location, field, hours worked, work experience and various other factors.
The American Bureau of Labor also reports that 10% of accountants earn nearly $116,000 annually. Accountants work longer hours than other professions, but are directly proportional to the higher pay. So do not be surprised if this major later became one of the most popular majors in Indonesia.
In addition, almost every sector requires staff in the accounting field, the prospect of his own work starts from becoming an accountant, be it a Public Sector Accountant (Government Accountant), Internal Auditor, Public Accountant (AP), Tax Administrator, Tax Auditor, Banking Accounting Staff, Agency Auditor Financial Supervisors (BPK), Financial Consultants, Lecturers, both in Higher Education (Lecturers) and Teachers, Entrepreneurs.
Please to also read about What Is Accounting: Objectives, Functions, Benefits and Types.
Job Prospects for Accounting Graduates
1. Public Accountant
A Public Accountant can work in a company or individually. His duties include preparing and analyzing various financial reports and documents.
This profession must also have a good understanding of tax regulations, and keep abreast of the latest developments in tax regulations. The Professional Accounting Officer himself includes updating financial documents and recording data.
They do not analyze data like accountants, but only provide data. This profession can also work in various industries.
Jobs in this field also make use of computers and technology. Usually no special qualifications are required to be accepted to work in this profession. Indonesia itself already has a variety of accounting standards used in various organizational and business entities.
However, the main accounting standard in the country itself is IFRS ( International Financing Reporting Standards ) which has been used also on a global scale. Indonesia as a member of IFAC ( International Federation of Accountants ) is also one of the factors why IFRS is used as an accounting standard in Indonesia. Accountants’ duties include:
- Compile financial reports from the company integrally, so that they can be used by internal parties and external parties of the company in making decisions
- Ensure source accountability, implement a reporting system that is tailored to the responsibility centers within an organization so that the reporting system can contribute to the effective use of resources and measurement of management performance
- External reporting, participates in the process of developing the accounting principles that underlie external reporting.
- Prepare financial reports in accordance with the qualitative characteristics of IAI’s 2004 financial statements, namely understandable, materialistically relevant, reliable, and comparable, relevant and reliable information constraints, and fair presentation
- Planning, compiling and participating in developing a planning system, setting expected goals, and choosing appropriate ways to monitor the direction of progress in achieving goals.
- Evaluating, considering the historical implications and expected events, and helping to choose the best way to act
- Controlling, ensuring the integrity of financial information relating to the organization’s activities and resources, monitoring and measuring performance, and taking corrective actions as necessary to return activities to expected ways.
2. Accounting Manager
The Accounting Manager is in charge of managing and supervising the accounting major as well as all areas of financial reporting. Accounting manager was then tasked with maintaining accounting principles and developing best practices, as well as systems for analyzing, gathering, and reporting information.
An Accounting Manager must also be able to have a solid understanding of various Generally Accepted Accounting Principles (GAAP). The accounting manager will also advise on financial reporting, budgets, financial strategies, and forecasts.
He is also responsible for managing the accounting team, preparing general ledgers, assisting with audits, and supporting cross-team managers with financial procedures. The responsibilities of this profession include:
- The Accounting Manager is tasked with Assigning projects and direct staff to a project to ensure compliance and accuracy
- Accounting Manager in charge of Fulfilling financial accounting objectives
- Accounting Manager in charge of Creating and maintaining various fiscal records for the purpose of documenting transactions
- The Accounting Manager is in charge of budget preparation, overseeing budget reports, and budget analysis
- Documenting complex financial information for executives and managers
- Supervise and manage daily operations of the accounting major
- Month and year-end processing, accounts payable, payroll and utilities, treasury, budgeting, cash forecasting, cash receipts, general ledger, capital asset reconciliation, trust account statement reconciliation, income and expense variance analysis, current checks, property, plant and equipment activities debt and others
- Accounting Manager will analyze accounting data, monitor and produce financial reports or reports
- Establish and enforce appropriate accounting methods, policies and principles
- Coordinate and complete audits on an annual basis
- Improve procedures and systems and initiate corrective actions
- Provide advice on financial management and procedures as well as development of various policies
- Oversee financial reports for tax, regulatory agencies, shareholders and other financial groups related to company finances.
3. Account Officer
Account Officer (AO), the task is to market the product – the company’s products to prospective customers who are considered potential then monitoring the financing provided so that customers are concerned then fulfill his duty to the company, the loan officer is also responsible to establish good relations to customers where he served as officers, or people who handle various problems that are being faced by customers.
If interpreted literally, an Account Officer is someone who takes care of various things related to clients on a daily basis.
Due to the importance of the client’s position to the banking and financial world, here are some of the duties of an account officer:
- Conduct various product introductions to customers, clients, or consumers
- Performing Follow Up on Clients, Each customer must also be introduced to the various banking products concerned
- Ensuring consumers, or customers, and also clients understand well the products introduced.
- Maintain good credibility and company name
- Conducting analysis of potential debtors and providing various offers continuously
- Measuring the level of risk, Analyzing debtor collateral or guarantees, Knowing the debtor’s business history and Conducting debtor history with BI Checking
- Managing Customer Credit AO, must also be able to manage credit from the customer itself. This means that AO monitors customer credit whether it can re-credit or not. So that financing from banks to customers remains smooth and not jammed
- Make a Report, Every month there is a report that must be made by AO for work accountability for 1 full month. As for the report on customer analysis, the addition of new customers, the addition of prospective customers and others related to banking problems between banks and customers.
Please to also read about Audit Definition, Functions, Stages, And Types.
4. Financial Analyst
Financial Analyst is in charge of assessing the stability, profitability of a business, sub-business or project. Financial analysis presents a report in the form of a ratio to the leadership of a business as a reference for taking company policies.
Based on the results of this analysis, management can decide to continue or discontinue the operations of a business or part of a business.
In addition, Financial Analysts also make or purchase raw materials in the production process, Purchase or rent production machines,
Negotiate to obtain bank loans to increase the company’s working capital, as well as various other decisions that allow management to make the right choice of various alternatives. in managing the company.
5A Financial Analyst will also study performance investments such as stocks, bonds, commodities, and more to provide guidance to businesses and individuals making investment decisions.
They can advise companies on financial strategic decisions, such as the ideal structure of the company. A Financial Analyst is responsible for the financial planning and analysis of a company, which enables the organization to make well-informed commercial decisions. Responsibilities of this profession include:
- Prepare financial reports which include collecting, formatting, analyzing and recommending solutions.
- Making cash flow projections and predictions of company profits in the short, medium to long term
- Recommend financial action through the results of the assessment of financial parameters for alignment with company goals
- Building a financial database includes collecting data and its source , verification and validation, to the process of backing up the data
- Recommend the financial structure that must be maintained based on the analysis of the company’s financial patterns
- Provide a report on the company’s financial condition through a series of financial analysis
- Evaluating the plans and budgets that have been made, by identifying the outcomes that have been obtained and the potential returns in the future
- Observing the economic, industrial, and developmental basis of a company by analyzing information from financial publications and services, investment banking companies, government agencies, trade publications, company sources, or personal interviews
- Analyze the company’s liquidity conditions.
5. Internal Auditor
Companies in any field definitely need the role of an internal auditor whose job is to ensure the results of the company’s financial statements are in accordance with the original.
Internal auditors must also ensure that all management has carried out their business efficiently and that there are no irregularities.
The internal auditor profession requires high honesty so that there are no deviations left in the company. The Internal Auditor’s duties include:
- Prepare and implement the Annual Internal Audit Work Plan.
- Determine audit frequency, audit subject and audit scope to achieve audit objectives.
- Test and evaluate the implementation of internal control and risk management system in accordance with company policy.
- Conduct inspections and assessments of efficiency and effectiveness in the fields of operations, finance, accounting, human resources and other activities.
- Provide suggestions for improvement and other objective information relating to the activity being examined at all levels of management as necessary.
- Make a report on audit results and submit it to the Board of Directors and the Board of Commissioners.
- Monitor, analyze and report on the implementation of the follow-up improvements that have been suggested.
- Develop a program to evaluate the quality of the internal audit activities carried out.
- Carry out special checks if necessary (whistle-blower).
6. Assistant Controller
As an experienced accounting graduate, you can have a career as an assistant controller for a company or organization. The assistant controller performs corporate control support in all accounting-related activities, including managerial accounting, advanced accounting, and financial activities within the company.
As a career in this field, you will need to have strong analytical, communication, organizational and technological skills.
For a career in this position, it is generally necessary to have at least five years of experience in accounting, or finance, or public accounting experience.
As a graduate with an accounting degree you can come here, but preferably for applicants with an MBA (Master Business Administration) or for applicants who have a CPA (Certified Public Accountant) or CMA (Certified Management Accountant) certificate.
In general, the duties and responsibilities of the assistant controller include reviewing financial data, assisting in the issuance and submission of invoices, preparing written budgets and reports based on customer needs, building an internal control system to prevent errors in financial reports, presenting reports for monthly, quarterly, and end of the year, as well as other tasks. The task of the account controller has the following responsibilities;
- Ensuring the company’s billing and payment processes are carried out properly
- Ensure that the data in the accounting system is updated properly.
- Ensure that the bookkeeping and other accounting administration processes are carried out properly.
- Ensure monthly tax reports from the company are available and signed by managers in a timely manner so as not to incur penalties.
- Ensure that all matters relating to DO, PO, Invoice and Tax can be allocated properly.
- Ensuring that all the company’s internal interests related to the accounting division are carried out properly
- Ensure that all matters relating to the administration of BPJS TK, BPJS Health and other insurances are carried out properly.
- Ensure that other tasks that may be assigned to you by management are carried out properly.
7. Financial Planner
Accounting students are known as people who are good at managing money.
The job prospect that you can take as an accounting graduate is to become a financial planner.
To become a financial planner, you must have a CFP or Certified Financial Planner.
By pocketing the certificate, potential users will be more interested and believe in the services you want to provide.
As the name suggests, financial planners are tasked with providing advice in financial management to people who have difficulty managing their personal and business finances.
8. Successful entrepreneur
For those of you who have the principle of not wanting to work with people, maybe you are suitable as an entrepreneur.
Accounting graduates have great potential to create jobs for many people.
While still in college, accounting majors were always given many courses on business development. Such as business introduction, business management and communication, business running strategies, and so on.
These courses can be a provision for those of you who want to start a new business.
But, never forget the knowledge of bookkeeping, because a business will not run well without bookkeeping.
Now, you no longer need to bother in terms of making financial reports because there is already an accounting application to make it easier.
With clear bookkeeping, you can develop your business well. Because the right business strategy is a strategy based on the company’s financial statements.