Accounting professionals play a crucial role in helping businesses and individuals maintain financial compliance and growth. With the increasing complexity of financial regulations and reporting requirements, skilled accountants and bookkeepers are vital. That makes entering the field an opportunity. If you’re looking for a stable career that pays well, accounting and bookkeeping jobs are worth exploring. Let’s take a look at the demand for qualified accountants and bookkeepers, specific jobs to consider, and how to enter the field.
The Growing Global Demand for Accounting Jobs
Accounting has emerged as a career with a strong demand worldwide. Factors like increasing business complexity, global expansion of companies, and stricter financial regulations make accountants sought after.
sesame/GettyAdditionally, the growing emphasis on financial transparency and accountability has made skilled accountants valuable. In fact, the global accounting services industry has grown every year in the last five years.1
Types of Accounting Jobs
Accounting is a diverse field that offers a wide range of job opportunities. Some common accounting roles include the following.
- Financial Accountant: Financial accountants prepare financial statements, maintain general ledgers, and ensure compliance with accounting standards and regulations.
- Management Accountant: Management accountants focus on providing financial information to support decision-making within an organization, such as budgeting, forecasting, and performance analysis.
- Tax Accountant: Tax accountants specialize in preparing and filing tax returns, ensuring compliance with tax laws, and providing tax planning advice.
- Internal Auditor: Internal auditors assess the effectiveness of a company’s internal controls, identify potential risks, and recommend improvements to safeguard the organization’s assets.
- Forensic Accountant: Forensic accountants investigate financial fraud and misconduct, often working with law enforcement agencies to uncover and prevent white-collar crime.2
Types of Bookkeeping Jobs
Bookkeeping is a vital subset of the accounting profession, responsible for recording financial transactions and ensuring accurate financial records. Common bookkeeping roles include the following.
- Bookkeeper: Bookkeepers record daily financial transactions, such as sales, expenses, and payments, and maintain accurate financial records.
- Payroll Clerk: Payroll clerks are responsible for processing employee salaries, calculating deductions and benefits, and ensuring timely and accurate payroll disbursements.
- Accounts Payable Clerk: Accounts payable clerks manage outgoing payments by processing invoices, verifying expenses, and maintaining accurate records of payments.
- Accounts Receivable Clerk: Accounts receivable clerks oversee incoming payments by issuing invoices, tracking outstanding payments, and following up on overdue accounts.3
Accounting and Bookkeeping Salaries
Accounting and bookkeeping salaries can vary significantly based on factors like location, level of education, and certifications. To provide a better understanding of compensation, here’s a snapshot of typical salary ranges for accountants and bookkeepers in a few countries.
United Kingdom:
- Accountant: £36,000 – £70,000 per year4
- Bookkeeper: £23,500 – £32,500 per year5
Canada:
- Accountant: CAD 48,101 – CAD 79,462 per year6
- Bookkeeper: CAD 35,000 – CAD 60,000 per year7
Australia:
- Accountant: AUD 65,000 – AUD 85,000 per year8
- Bookkeeper: AUD 65,000 – AUD 75,000 per year9
United States:
- Accountant: $50,000 – $71,000 per year10
- Bookkeeper: $36,000 – $50,000 per year11
Please note that these figures are approximate and will vary based on factors, including company size, industry, and specific job roles. Additionally, salaries often increase with experience and the attainment of professional certifications.
Entering the Accounting and Bookkeeping Field
If you’re interested in entering the field of accounting and bookkeeping, here are a few steps that can help you stand out as an applicant.
- Education: Obtain a degree or diploma in accounting, finance, or a related field. While a bachelor’s degree is often required for many accounting positions, bookkeeping roles may only require an associate degree or high school diploma.
- Certification: Pursue relevant certifications to enhance your employability and credibility in the field. Research the requirements where you live. And consider taking online courses to be more competitive in the job market.
- Networking: Join professional organizations and attend industry events to network with other professionals and stay up-to-date on industry trends and developments.
- Gain Experience: Build your resume by seeking internships or entry-level positions in accounting or bookkeeping to gain hands-on experience.
- Continue Learning: Stay current with new accounting standards, regulations, and technology by participating in continuing education programs and professional development courses. Online certification programs can help with this step.12
The Takeaway
The global demand for accounting and bookkeeping professionals is high, offering a wealth of opportunities for those interested in entering the field. By understanding the various types of accounting and bookkeeping jobs available, you can identify the roles that most align with your interests and skills.
Pursuing an education, obtaining relevant certifications, and gaining practical experience can help you enter this vital and rewarding profession. Since businesses around the world face increasing financial complexities, skilled accountants and bookkeepers are valuable.