Accounting is an indispensable part of any company or organisation. It has come a long way from being considered a tedious role involving endless number crunching. However, today it has become the most lucrative field that offers many job opportunities. Accounting is all about keeping a record of transactions, and then analysing and interpreting the results to help companies know their financial position. It also helps them make informed decisions and find solutions to financial issues.

If you are considering a career in accounting you need to be aware that the field itself is vast offering various types of different job roles. Each of these roles has its own skill and eligibility requirements. To help you narrow down your search this article will provide you with a list of the top career choices you can consider in the field of accounting.

What is Accounting?

Accounting refers to the process employed by businesses that involve collecting information about transactions and then summarising, analysing and interpreting them to understand their financial standing. Accounting plays an important role in the functioning of businesses as it allows them to measure their financial performance and make decisions about effective cost planning for the future.

Top 7 Accounting Careers You Should Consider

Below is a list of the top 7 accounting careers along with their required eligibility criteria, job responsibilities and average salary.

Sl#	Job	Average Salary	Highest Salary
1	Chief Financial Officer	INR 45.6 LPA	INR 101 LPA
2	Financial Controller	INR 23 LPA	INR 54.7 LPA
3	Chartered Accountant	INR 6.3 LPA	INR 15 LPA
4	Auditor	INR 2.7 LPA	INR 9 LPA
5	Senior Financial Analyst	INR 6.5 LPA	INR 18 LPA
6	Information and Technology Accountant	INR 5 LPA	INR 8 LPA
7	Bookkeeper	INR 2.2 LPA	INR 4.8 LPA

1. Chief Financial Officer

Chief financial officers are senior-rank professionals that are tasked with undertaking financial planning including budgeting and forecasting. In addition, they are also responsible for ensuring the accuracy of financial statements and their compliance with accounting standards. They play a crucial role in a company’s success thanks to their expert guidance, risk management and strategic planning skills.

Eligibility:

• A Bachelor’s degree in accounting or finance field along with an MBA is a must
• Certifications like Certified Public Accountant (CPA)

Roles:

• Conduct timely assessments of financial reports to facilitate forecasting and budgeting.
• They help lead and direct the accounting team for maximum productivity
• They devise short and long-term strategies for business growth.

Salaries (INR):

• Average Salary INR 45.6 LPA
• Highest Salary INR 101 LPA

2. Financial Controller

Finance controllers are senior-level professionals responsible for the smooth running of a company’s financial processes. This includes evaluation of financial reports, assisting in budget planning and developing forecasts. In addition, they also work in tandem with Chief Financial Officers (CFO) to come up with strategies for effective financial planning.

Eligibility:

• A bachelor’s degree in finance, accounting, or a related field
• Certification courses like Certified Public Accountant (CPA), Certified Management Accountant (CMA) and Chartered Financial Analyst (CFA).

Roles:

• Conducting assessments of financial statements
• Take charge of effective Budget planning
• Identify loopholes in the financial processes and suggest strategic solutions for them

Salaries (INR):

• Average Salary INR 23 LPA
• Highest Salary INR 54.7 LPA

3. Chartered Accountant

Chartered accountants are professionals that perform several tasks in an organisation. This includes taxation, auditing, and conducting financial assessments. This designation is one of the most sought-after in the field of accountancy offering high monetary gains for individuals. The designation is internationally recognised and is conferred by a statutory body to professionals that demonstrate their competence to handle accounting matters of a company.

Eligibility:
Foundation Path:

• Candidates must have done 10+2 from a recognised institution.
• The standard proficiency test (CPT) requires candidates to have 50% aggregate marks in their 10+2 exams.

Direct Entry Path:

• For the direct entry path candidates must hold a graduate degree
• Commerce students must have 55% aggregate marks while those that belong to other streams must have scored 60% aggregate marks in graduation.

Roles:

• One of their important tasks includes the preparation and thorough analysis of financial statements to draw insights to enhance financial performance.
• Conducting auditing of financial statements
• Using their expertise in the process of tax planning
• Consulting organisations on better financial planning to improve their performance

Salaries (INR):

• Average Salary INR 6.3 LPA
• Highest Salary INR 15 LPA

4. Auditor

An auditor is someone who makes audits or careful assessments of financial records and statements to ensure the data it contains is correct and reliable. They then transfer this information to the various stakeholders including investors and creditors. In addition, they also help companies increase the efficacy of their internal control systems thus mitigating risks.

Eligibility:

• To become an auditor you need to have a bachelor’s degree in Accounting
• In addition, you need proficiency in Tally or other relevant courses
• Certification courses in CA, ICWA, or CS.

Roles:

• Careful assessment and interpretation of financial statements to ensure their accuracy
• Evaluating the effectiveness of internal controls and providing recommendations to improve the same
• Helps organisations identify risks and proposes effective solutions to combat those

Salaries (INR):

• Average Salary INR 2.7 LPA
• Highest Salary INR 9 LPA

5. Senior Financial Analyst

Senior financial analysts are experts who handle a lot of responsibilities, these include the evaluation of financial statements, and assessing financial trends that help companies make informed decisions when it comes to investing and budgeting. They are also tasked with the development of financial models to assist in better planning.

Eligibility:

• Bachelor’s degree in Finance, Accounting, Economics, or a related field.
• Candidates with a Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) certification can also be eligible for this role

Roles:

• Developing financial models
• Using relevant data to make forecast future profits.
• Evaluating and interpreting financial statements and reports
• Assisting the budgeting and investing processes

Salaries (INR):

• Average Salary INR 6.5 LPA
• Highest Salary INR 18 LPA

6. Information and Technology Accountant

Information technology accounting refers to the incorporation of accounting principles with various software systems to help the organisation, protection and centralisation of an organisation’s financial data. This helps in the mitigation and correction of errors and enhances financial reporting and analysis.

Eligibility:

• A bachelor’s degree in accounting, finance, or a related field is required.
• Certification courses include the Certified Information Systems Auditor (CISA), Certified Public Accountant (CPA), or Certified Management Accountant (CMA)

Roles:

• Development, deployment and management of accounting systems
• Employing IT systems to analyse financial data and draw insights on its basis
• Work in compliance with financial regulations and standards to foster data security
• Work in collaboration with other professionals to enhance software systems

Salaries (INR):

• Average Salary INR 5 LPA
• Highest Salary INR 8 LPA

7. Bookkeeper

The main responsibility of a bookkeeper involves keeping track of a business entity’s daily cash flow statements. They maintain a daily record of all the financial transactions taking place within an organisation while also ensuring that the data is cross-checked to prove its accuracy and reliability.

Eligibility:

• Bachelor’s or master’s degree in accounting or a related field
• Some employers may prefer a BBA or an MBA degree
• Obtaining certifications like Certificate in Financial Accounting and Tally and Professional Certificate in Accounting for Managers

Roles:

• Recording daily financial transactions in an organisations
• Verifying the record is up-to-date and accurate
• Assisting accountants by providing them with the necessary reports
• They also help prepare financial reports

Salaries (INR):

• Average Salary INR 2.2 LPA
• Highest Salary INR 4.8 LPA

Conclusion

Accounting is important for almost every type of organisation. Within the sphere of accounting, there are various types of job designations available such as Auditor, chartered accountant, bookkeeper and so on. All these jobs offer many benefits including a great learning atmosphere and an exciting salary package to complement it. Having a degree in accountancy or a related field such as business administration can thus open various doors for career advancement. Now that you have a better understanding of the various career opportunities in the realm of accountancy you are better informed to make the best choice.

Source of Salaries: AmbitionBox

Tags: accounting jobs, career in accounting