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June 6, 2008, Newsletter Issue #51: Advantages of a Career in Accounting
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Tip of the Week
In addition to excellent salaries, a major advantage of a career in accounting is your ability to practice your expertise in almost any industry. With the popularity of mergers, acquisitions, consolidations, and downsizing of the 21st century, accounting professionals enjoy a level of security that many other career tracks lack. While you can still decide to specialize in a specific area of accounting (auditing, analytical, research, forensics, etc.), opportunities should always be available either in your preferred industry or in others, making your skills very portable, which enhances your job security.
Since the majority of accounting rules and regulations are standardized, following Generally Accepted Accounting Principles (GAAP) as published by the Financial Accounting Standards Board (FASB), the requirements faced by accountants of all levels and in all industries are basically identical. Therefore, talented accounting professionals are in demand in all economic conditions and in all sectors of business. Unlike some career paths which are linked to certain products, services or specialty skills, an accounting career opens many doors for advancement and provides a high degree of portability, which is very valuable in all economic climates.
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