What Can I Do With An Accounting Degree Besides Accounting?
Let's be candid. The accounting field although very lucrative isn't exactly what one would term as dynamic or exciting at all. In fact, the thought of having to spend your day in front of a computer and holding a calculator, on the other hand, can be a bit much for some people. Such people are always searching online with "pay someone to do my homework for me" requests. Although accounting homework may seem way too monotonous, there’s a lot that one can do with an accounting degree that's not within the confines of the norm. In this article, we are going to explore some of those optional careers that an accounting graduate can take up beside accounting.
1. Forensic accounting
In forensic accounting, you can get an opportunity to utilize your accountancy skills to among many things investigate inaccuracies and financial discrepancies such as disputes, fraudulent activity, misconduct and financial misrepresentation.
- Creating and manipulating spreadsheets.
- Conducting forensic analysis of the financial data.
- Extracting data from financial records.
- Preparing forensic accounting reports from financial findings.
2. Business advisor
Being a business advisor largely involves providing information, advice, coaching, guidance, and support to business people. This can range anywhere between individuals that are looking to start their own business enterprises all the way to established businesses that need to diversify, grow, change or scale up their models.
- Advising businesses on the range of options available to them.
- Undertaking diagnostic needs assessment with businesses including working hand in hand with the client to come up with a business action plan and put it in place.
3. Licensed conveyancer
Licences conveyancer's are basically property law specialists who work on behalf of clients that are selling or purchasing property. The practice involves among many things finance, legal matters, and administration.
- Protecting clients’ interests while taking precautions against money laundering and potential fraud.
- Doing extensive research about properties and communicating with the client.
- Drafting sales contracts and agreeing to the terms with the conveyancer acting on behalf of the other party.
- Collating and sending supporting financial and legal documents.
As an economist, you will mostly be tasked with making use of economic knowledge and theories to carry out considerable amounts of research and collect the necessary intel required to assess the feasibility of economic trends.
- Creating and using econometric modeling techniques to develop forecasts.
- Analyzing information to test the effectiveness of products and services and current policies alongside advising on the suitability of alternative courses of action.
- Giving economic related advice to stakeholders.
5. Data scientist
As the need for organizations to use and collect larger amounts of data increases to an all-time high so too does the need to have data scientists who turn that data into useful information also increase.
- Integrate, merge, manage and extract data to supply tailored reports.
- Creating clear and concise reports that tell compelling stories about the symbiotic relationship between customers and businesses.
- Conducting research and using the findings to develop proof of concepts and prototypes.
6. Management consultant
Management consultants are basically involved in helping organizations maximize growth, find viable solutions to problems, improve the performance of the business and create value.
Types of work in management consultancy
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- Preparing business proposals.
- Presenting research findings and providing viable recommendations to clients.
- Carrying out research and collecting data to better understand the organization.
7. Purchasing manager
A purchasing manager is someone who is responsible for buying goods, equipment, and services at reasonably competitive prices to enable a business enterprise to operate.
- Conducting research to ascertain the best products.
- Forecasting levels of demand for goods and services.
- Keeping an eye on stock levels.
- Forecasting price trends and determining how they impact future activities.
8. Retail banker
A retail banker basically works in banks and building societies found on the high streets. They help in among many things providing advice and financial services.
- Recruiting, managing and coaching teams.
- Implementing new products and services.
- Tending to customer complaints.
9. Tax advisor
This field involves using your knowledge of tax legislation to provide consultancy and advisory services to clients.
- Working with tax law and revenue provisions.
- Providing consultancy services.
- Establishing and structuring family trusts.