Career Options for Accounting Majors

An accounting degree enables an individual to gain money management skills, financial analysis and planning, and business budgeting. It also equips them to generate budgets, manage risks, and conduct deep analytical thinking on organizations’ investments. There are several career paths and options that an individual can get with a major in accounting. These career options include the following:

Actuary

Degree holders in the field of accounting can pursue a career as actuaries to help in data analysis. Areas like investment, security, and finance can benefit significantly from predictive analysis, requiring serious mathematics and statistics skills.

Anti-Money Laundering Officer

Money laundering has grown considerably as a financial crime over the years, facilitating severe crimes such as terrorism. An Anti-money laundering officer helps in trailing and tracking down suspicious transactions to stop money laundering. These individuals possess strengths in data analysis, public policy, and specialized forensic accounting certifications with certifications in anti-money laundering.

Financial Analyst

Graduates in accounting with interest in the stock market have an opportunity to become financial analysts. This career helps individuals analyze investments, scrutinize the probabilities, and determine the risk of loss while buying and selling assets. They also help advise organizations and individuals on whether to participate in particular investments based on market trends or not.

Forensic Accountant

The digital transformation that has revolutionized all sectors, including the banking sector, has seen the adoption of online transactions and banking. With this technology, there has been a rise in identity theft, online financial fraud, and hacking attacks on various organizations. The forensic accountant carries the responsibility of determining falsified financial documents and records, computation of taxes, and evaluating insurance debts.

Environmental Accountant

Environmental Accountants are instrumental in advising companies, organizations, and governments on the environmental implication of the projects they are conducting. The accounting field helps conduct a financial analysis of the projects and the cost implications and benefits of adherence to environmental regulations.

Cost Estimator

This career is demanding in terms of the skill set required, though it is one of the best career paths for individuals with accounting majors. A cost estimator possesses a business, engineering, urban planning, and accounting knowledge, as they are mostly in demand in the manufacturing and construction industries. To effectively serve as a cost estimator, one should understand public policy, engineering, and the management of construction.

Originally published: https://colemurphyharris.net/career-options-for-accounting-majors/