Job Prospects for Accounting Graduates – Until now, the Accounting major is still one of the most popular college majors for prospective new students. This major itself then studies the art of classifying, recording and summarizing in a monetary measure. Accounting is a branch of knowledge that is much needed in the business world.
It is not surprising that many companies accept graduates to help with financial management. Want to study in this department? Here are some promising job prospects that await graduates. What are they? Check these out!
The Accounting major is very suitable for those of you who have an interest in the world of finance and want to dive deeper into the world of business. You will study various transactions in it. Studying in this department will also teach you various things related to financial reports. At the beginning of the lecture, you will be invited to study an introduction to Accounting or Financial Accounting which contains various basic accounting knowledge and further understanding.
Entering the second year, you will be invited to study intermediate financial accounting , which contains the development of a basic understanding of accounting towards a more complex scientific field. For example, bonds transactions and how to calculate share capital in more detail.
Next, entering the third year you will study advanced financial accounting (Advance Accounting ) which studies the preparation of financial reports for a company, Mudalovers. Here are some job prospects for Accounting graduates that could be your choice:
A career in accounting itself promises quite promising income. Not only that, career advancement is guaranteed. According to statistics from the American Bureau of Labor, the average income of an Accountant can reach up to $65,940 per year. Although this number can vary greatly, depending on location, field, working hours, work experience and various other factors.
The American Bureau of Labor also reports 10% of accountants earn nearly $116,000 annually. Accountants work longer hours than other professions, but this is directly proportional to their higher pay. So it is not surprising that this department has become one of the most popular majors in Indonesia.
Apart from that, almost every sector requires staff in the field of Accounting. The job prospects themselves start from becoming an Accountant, be it a Public Sector Accountant (Government Accountant), Internal Auditor, Public Accountant, Tax Administrator, Tax Auditor, Banking Accounting Staff, Agency Auditor Financial Supervisor , Financial Consultant, Teaching Staff, both in Higher Education (Lecturers) and Teachers, Entrepreneurs.
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Job Prospects for Accounting Graduates
1. Public Accountant
A Public Accountant can work in a company or individually. His duties include preparing and analyzing various financial reports and documents. This profession must also understand tax regulations well, and continue to follow the latest developments in tax regulations. This professional accounting officer includes updating financial documents and recording data.
They do not analyze data like accountants, but only provide data. This profession can also work in various industries. Jobs in this field also utilize computers and technology. Usually no special qualifications are required to be accepted to work in this profession. Indonesia itself has various accounting standards used in various organizational and business entities.
However, the main accounting standard in the country itself is IFRS ( International Financing Reporting Standards ) which has also been used on a global scale. Indonesia as a member of IFAC ( International Federation of Accountants ) is also one of the factors why IFRS is used as an accounting standard in Indonesia. Accountant duties include:
- Compile the company’s financial reports in an integral manner, so that they can be used by internal and external parties in making decisions
- Guarantee source accountability, implement a reporting system that is tailored to the responsibility centers in an organization so that the reporting system can contribute to the effective use of resources and measurement of management achievements
- External reporting, participating in the process of developing accounting principles that underlie external reporting.
- Create financial reports that are in accordance with the qualitative characteristics of IAI financial reports, 2004, namely understandable, materially relevant, reliable and comparable, relevant and reliable information constraints, and fair presentation
- Planning, compiling and participating in developing a planning system, setting expected targets, and choosing appropriate ways to monitor the direction of progress in achieving targets.
- Evaluation, considering historical implications and expected events, and helping to choose the best way to act
- Controlling, ensuring the integrity of financial information relating to the organization’s activities and its resources, monitoring and measuring performance, and taking corrective action as necessary to return activities to the expected path.
2. Accounting Manager
The Accounting Manager is tasked with managing and supervising the accounting department as well as all areas of financial reporting. He is then tasked with maintaining accounting principles and developing various best practices, as well as systems for analyzing, collecting and reporting information. An Accounting Manager must also be able to have a strong understanding of various Generally Accepted Accounting Principles (GAAP).
The accounting manager will also advise on financial reporting, budgeting, financial strategy, and forecasting.
He is also responsible for managing the accounting team, preparing general ledgers, assisting with audits, and supporting managers across teams with financial procedures. The responsibilities of this profession include:
- The Accounting Manager is tasked with Assigning projects and direct staff to a project to ensure compliance and accuracy
- The Accounting Manager is tasked with meeting financial accounting objectives
- The Accounting Manager is tasked with creating and maintaining various fiscal records with the aim of documenting transactions
- The Accounting Manager is tasked with budget preparation, supervising budget reports, and budget analysis
- Document complex financial information for executives and managers
- Supervise and manage various daily operations in the accounting department
- Monthly processes and year-end processes, accounts payable, payroll and utilities, treasury, budgeting, cash forecasting, cash receipts, general ledger, capital asset reconciliation, trust account statement reconciliation, income and expense variance analysis, running checks, fixed asset activity, activity debt and so on
- The Accounting Manager will analyze accounting data, monitor and produce financial reports or reports
- Establish and enforce appropriate accounting methods, policies and principles
- Coordinate and complete audits on an annual basis
- Improve procedures and systems and initiate various corrective actions
- Provide advice on financial management and procedures as well as the development of various policies
- Oversee financial reports for tax, regulatory agencies, shareholders, and other financial groups related to company finances.
3. Account Officer
Account Officer (AO), his job is to market the company’s products to prospective customers who are considered potential, then monitor the financing provided so that the customer in question fulfills his obligations to the company. The Account Officer is also responsible for establishing good relationships with customers in which he plays a role. as an officer, or a person who handles various problems faced by customers.
If interpreted literally, an Account Officer is someone whose daily life takes care of various matters related to clients. Due to the importance of the client’s position in the world of banking and finance, the following are some of the duties of an account officer:
- Carrying out various product introductions to customers, clients or consumers
- Carrying out follow up with customers. Each customer must also be introduced to the various banking products in question
- Ensure that consumers, customers and clients understand the products being introduced well.
- Maintain the company’s credibility and name well
- Carrying out analyzes on debtors who are considered potential and providing various offers continuously
- Measuring the level of risk, analyzing debtor collateral or guarantees, knowing the debtor’s business history and conducting debtor history with BI Ceking
- Managing Customer Credit AO must also be able to manage the credit of the customers themselves. This means that AO monitors customer credit whether they can get credit again or not. So that financing from banks to customers remains smooth and does not get stuck
- Making Reports, Every month there is a report that must be made by the AO for work accountability for 1 full month. The reports are regarding customer analysis, adding new customers, adding potential customers and other related banking problems between banks and customers.
In Indonesia itself, account officers can also be found in Sharia banks. It is very important for this profession to understand and understand the philosophical concepts and technical operations of financing from analysis to completion.
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4. Financial Analyst
Financial Analysts are tasked with assessing the stability and profitability of a business, sub-business or project. Financial analysis presents a report in the form of ratios to the leadership of a business as a reference for making company policies. Based on the results of this analysis, management can decide whether or not to continue operating a business or part of a business.
Apart from that, Financial Analysts also make or purchase raw materials in the production process, purchase or rent production machines, negotiate to obtain bank loans to increase the company’s working capital, as well as various other decisions that enable management to make the right choice regarding various alternatives. involved in managing the company.
A Financial Analyst will also study the performance of investments such as stocks, bonds, commodities, and others to provide guidance to businesses and individuals making investment decisions.
They can advise companies on financial strategy decisions, such as the company’s ideal structure. A Financial Analyst is responsible for the financial planning and analysis of a company, enabling the organization to make well-informed commercial decisions. Responsibilities of this profession include:
- Prepare financial reports which include collecting, formatting, analysis and solution recommendations, Mudalovers
- Make cash flow projections and company profit predictions in the short term, medium term and long term
- Recommend financial action through the results of financial parameter assessments for alignment with company goals
- Building a financial database includes collecting data and its sources , verification and validation, and the process of backing up the data
- Recommend the financial structure that must be maintained based on analysis of the company’s financial patterns
- Provide reports on the company’s financial condition through a series of financial analysis
- Evaluate the planning and budget that have been made, by identifying outcomes that have been obtained and potential returns in the future
- Observe fundamental economic, industrial, and corporate developments by analyzing information from financial publications and services, investment banking firms, government agencies, trade publications, company sources, or personal interviews
- Analyze the company’s liquidity conditions.
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5. Internal Auditor
Companies in any field definitely need the role of an internal auditor who is tasked with ensuring that the results of the company’s financial reports are in accordance with the original. Internal auditors must also ensure that all management has carried out business efficiently and that no irregularities have occurred.
Therefore, the internal auditor’s function must be properly maintained in a company so that there is a control system that is used to prevent deviations from occurring which is more fully discussed in the Internal Auditor Quality Control System book.
The internal auditor profession requires high levels of honesty so that irregularities are not allowed to go unpunished within the company. Internal Auditor duties include:
- Prepare and implement the Annual Internal Audit Work Plan.
- Determine audit frequency, audit subjects and audit scope to achieve audit objectives.
- Test and evaluate the implementation of internal controls and risk management systems in accordance with company policy.
- Carrying out inspections and assessments of efficiency and effectiveness in the fields of operations, finance, accounting, human resources and other activities.
- Provide suggestions for improvements and other objective information relating to the activities being examined at all levels of management as necessary.
- Prepare audit results reports and submit them to the Board of Directors and Board of Commissioners.
- Monitor, analyze and report on the implementation of recommended follow-up improvements.
- Develop a program to evaluate the quality of internal audit activities carried out.
- Perform special inspections when required (whistle-blower).
6. Assistant Controller
As an experienced accounting graduate, you can have a career as an assistant controller for a company or organization. The assistant controller supports company control in all activities related to accounting, including managerial accounting, advanced accounting, and financial activities within the company.
As someone pursuing a career in this field, you must have a variety of strong analytical, communication, organizational and technological skills. To pursue a career in this position, it is generally necessary to have at least five years of experience in accounting, or finance, or public accounting experience.
As a graduate with a bachelor’s degree in accounting, you can come here, but it is preferred for applicants with an MBA (Master of Business Administration) degree or for applicants who have a CPA (Certified Public Accountant) or CMA (Certified Management Accountant) certificate. In general, the duties and responsibilities of the assistant controller include reviewing financial data, assisting in issuing and submitting invoices, preparing written budgets and reports based on customer needs, building an internal control system to prevent errors in financial reports, presenting reports for monthly, quarterly, and end of year, as well as other tasks. The account controller’s duties have the following responsibilities;
- Ensure that the company’s billing and payment processes are carried out as they should
- Ensure that the data in the accounting system has been updated properly.
- Ensure that the bookkeeping and other accounting administration processes are carried out properly.
- Ensure monthly tax reports from the company are available and signed by the manager on time to avoid incurring fines.
- Ensure that everything related to DO, PO, Invoice and Tax can be allocated properly.
- Ensure that all internal company interests related to the accounting division are carried out properly
- Ensure that everything related to the administration of BPJS TK, BPJS Health and other insurance is carried out properly.
- Ensure that other tasks that may be assigned to you by management are carried out properly.