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How Can I Become an Accountant: Steps, Degrees, and Career Paths
Changing your designation from a bookkeeper to an accountant is a gradual career change that can be possible for many people in the field of finance.
Bookkeeping mainly focuses on recording and keeping a consistent financial proceedings. However, accounting is all about broad responsibilities like financial analysis, tax preparation and financial planning as well.
In this article we try to find the ways on how a bookkeeper can transition in to a full-time accountant.Â
Contrasting between a Bookkeeper and an Accountant
Before becoming an accountant in the bookkeeping world, it is important to find the differences between the two roles and find some common ground so that you can grasp them.
Bookkeeping
Bookkeeping involves the management of financial transactions like sales, purchases, and payroll.
It utilizes software like QuickBooks and Xero to maintain a consistent and accurate financial record.
It also requires comprehensive data detailing and a thorough understanding of accounting principles.
Accounting
Accounting is all about calculating, assessing, and summarizing financial data.
More importantly, it involves formulating financial statements, managing audits, and filing taxes as well.
Accounting requires an in-depth understanding of financial laws, regulations, and financial planning.
Therefore, as bookkeeping is all about financial management, accounting focuses on building a foundation for facilitating insights to the higher management for making data-driven decision making.
Transitioning from bookkeeping to becoming an accountant
Transitioning from a bookkeeper to an accountant is fairly easy and more possible as both the designations are from the field of finance. You just need to develop some additional skills that are mandatory for accountants. This involves basic financial aspects, ratios, and other important things. Also, for those passionate about becoming an accountant from scratch, you need to look at the following aspects in detail:
Steps to become an accountant
Career Goals
This involves assessing your overall career goals and interests. Try to find out the reason as to why you want to become an accountant. It can be for your career progressions as you might have notice your peers having better career growth in the field of accounting. This can be due to a variety of factors like having better salary potential, an increased interest in financial analysis or having a clear objective that can keep you motivated to pursue an accounting job.
Getting Relevant Education and Certifications
However, you need to note that there has to be additional education as most accounting roles mostly require a bachelor’s degree in accounting or finance or a relevant field. So bookkeepers have to pursue a part-time or online certification program while simultaneously continuing your work.
The courses you need to focus on are typically financial accounting, managerial accounting, taxation, and auditing.
Additionally, you can also focus on having additional certifications like becoming a Certified Public Accountant (CPA) by giving the CPA exam, Certified Management Accountant (CMA), Becoming a certified bookkeeper (CB).
Getting the Work Experience
Furthermore, you need to develop better accounting skills as there are already skilled accountants sitting in the job market; therefore, you need to be able to compete with them in every aspect to have a better experience when transitioning from a bookkeeper’s role. These aspects involve financial analysis and forecasting, tax laws and regulations. budgeting and financial management and having command on advanced accounting software’s like SAP.
Type of accounting jobs
Most importantly, you need to have some practical experience so that you can have flexibility when you switch your job from one accounting role to another. One good way to do this is by offering accountants an assistant role so that you can better understand the job operations of an accountant. This can be things like preparing financial statements, cash flow management, etc. Some entry-level accounting roles are junior accountant, accounting assistant, etc.
Networking
Networking is all about finding relevant and important people on platforms like LinkedIn who can provide you important information regarding job opportunities. This can be about industry related conferences and important events as well where you can meet important people and open door to better opportunities.
Milestones to achieve
This involves managing your time. Investing in a full-time degree is a time-consuming and costly as well. Make sure you are managing it well with a full time job.
Getting a full-time job and managing it with your bachelor’s education is a challenging task and requires excellent time management skills.
Getting grasp over tricky and advanced accounting concepts like auditing and tax law is a very demanding especially for those with limited exposure.
The perks of getting an accounting degree and having an accounting career
Becoming an accountant and having roles like auditor, internal auditor, financial analyst, tax accounting, tax consultant, public accounting are all job roles with a good career advancement. Better career advancement translates to better earnings which is the goal in the first place. As better earnings improves your quality of life.
An accounting program can help you to specialize in various fields like certified internal auditor, forensic accounting, financial planning and corporate finance as well.
Having an accounting degree program can help you have better job security as accounting skills give you a better business environment accompanied by demanding skills that provide high-in-demand skills, promising stability and growth. Therefore, from entry-level to professional roles, in terms of salary, career advancement, and job security, becoming an accountant is highly beneficial. You must make sure to gain work experience from a reputed accounting firm for even better results.
The Verdict about a career in accounting
Whether you want to become an accountant from scratch or transition your role from a dedicated bookkeeper to an accountant, it requires a combination of the correct education, certifications, determination, relevant work experience, etc. Therefore, by having a robust foundation in terms of the correct knowledge and acquiring advanced accounting skills, you can land a rewarding opportunity, and by continuing education in a relevant master’s program, you can have even better. Keep in mind that the coursework of an accounting bachelor’s or master’s program develops the right foundational skills that will help you better in the later stages of your job career.
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