What are some of the fastest-growing accounting specialties? This is just one of the questions of individuals who want to pursue a career as an accountant. Fortunately, there are several fascinating specialties to choose from in the growing field of accounting. Consider the details regarding a few popular accounting specialties.
A forensic accountant analyzes financial documents and records that are somehow involved in a crime. For instance, a forensic accountant may analyze the financial records of a company or individual suspected of insurance fraud. This professional is an expert in finding financial improprieties, is familiar with the laws and works closely with law enforcement officials. Successful forensic accountants use the latest software to find details in financial documents that can aid them in their detective work. A person who wants to pursue this specialty needs a bachelor’s or even a master’s degree in forensics accounting. Someone interested in this field should have an eye for small details and persistence in evaluating large amounts of financial data.
Someone who works as a managerial accountant analyzes operating expenses and shares their findings with the various department managers at a company. This helps the managers to know where they need to cut costs and which areas need more financial support. A managerial accountant acts as a partner to managers so they can use their budget in a way that best serves the company or organization. A person in this line of work should have great communication skills and be able to organize data in a way that is accessible to all of the managers throughout a company. This professional must have a bachelor’s or master’s degree in this area of work.
A person with a career as a tax accountant is able to help individuals or companies prepare their taxes. Professional tax accountants are always up-to-date on the tax codes. It’s their responsibility to inform their clients about liabilities and other issues they may face regarding their tax returns. An individual who wants to become a tax accountant must earn a bachelor’s degree or a master’s degree to prepare for this in-depth financial work. In order to have success in this field, a person must be diligent about studying the intricacies of the tax code to ensure that a client’s tax forms are filled out correctly.
There are two types of specialties when it comes to carving out a career as an auditor. Internal auditors have the responsibility of monitoring the financial practices of the organization they work for. In addition to looking out for mismanaged funds, they also determine ways that the organization can cut costs and waste. Alternatively, an external auditor goes into different organizations to check the books for any financial improprieties. Tax auditors must have at least a bachelor’s degree. Some personal traits that are helpful in this profession are the ability to communicate with colleagues, persistence in evaluating financial documents and a high level of honesty.
The amount and variety of specialties in this field makes it appealing to many people who love working with numbers. Knowing what some of the fastest-growing accounting specialties are can help people to carve out a solid path to a satisfying career.