7 Promising Job Prospects for Accounting Graduates

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
Financial Analyst #Freepik

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.

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