3 Key Accounting Specialisation Areas That Are On The Rise

The accounting field is fast growing which offers great opportunities for those who want to advance in their accounting careers or join the industry.

However, because of how saturated the job market is, finding ways to stand amongst the crowd is crucial.

One way of doing this is to find a specific accounting area to specialize in.

While most accounting professionals have things in common, like a core set of technical skills and abilities, different accounting areas require specific competencies and training.

If you are unsure of what direction you want your accounting career to take, here are 3 common specialization areas that are on the rise to help give you some ideas.

1. Management Accounting

If you like keeping track of a company’s income and expenses but also want to hold a position with significant responsibility and authority, management accounting could be the job for you.

Management accountants look after a company’s accounts. They advise managers about the financial implications of business decisions to aid growth and profit.

Employers look for management accountants because they can handle the forensic and cost accounting duties required in the company or business.

2. Finance Accounting

Financial accounting is for you if you have great planning and analytical skills.

Financial accounting allows a business to keep track of all its financial transactions. It is the process in which the company records and reports all the financial data that go in and out of its business operations.

3. Tax Accounting

If you are an accounting professional who possesses great numerical & analytical skills and also loves working with a range of clients in an ever-evolving dynamic field, then tax accounting might be the perfect choice for you.

However, before you dive into this area it is important to know what is expected of you in this field.

As an accountant who specializes in taxation, you will work with either individuals or corporations to handle taxes, financial records and also audits.

These are the three trending areas that you can specialize in if you are looking to join or advance your career in accounting.

Do any of them appeal to you?  Consider enrolling for a practical accounting training to equip you with the practical skills you need to make you an employable accounting professional.

Ready to kick start your accounting career? Join this Practical Accounting Training