Expert Speak
ACCOUNTANTS ARE AN INDISPENSABLE PART OF ANY ORGANISATION. KNOW WHAT IT TAKES TO MAKE IT A CAREER OF CHOICE.
Shiamak Davar, choreographer, on dancing your way to success
TRADITIONAL IDEA OF ACCOUNTANT AS A NUMBER CRUNCHER IS GIVING WAY TO A PERSON WHO IS EXPECTED TO BE A PLANNER AND BUSINESS THINKER
Accounting as a profession has always been in demand. Accountants help shape and support businesses, multinational organisations and economies. Simply put, accounting is the language of business.
Factors altering accounting landscape
Increased regulation and stronger governance, development of intelligent automated accounting systems, adoption of cloud computing by businesses and an increasing global mobility of accountants are some of the major factors that are expected to impact the profession as a whole.
Skills a finance professional will need
• Accountants are not only expected to have necessary technical competencies, but also have to be ethical while maintaining the highest standard of integrity, independence and skepticism. • Finance professionals are expected to display intelligence to acquire and use knowledge, display creativity to make connections, explore potential outcomes and generate new ideas. • With the advent of the digital age, awareness and application of existing and emerging digital technologies becomes crucial. Accountants need to have the ability to identify their own emotions and those of others, harness and apply them to the best interests of the job at hand. • They must also have the vision to anticipate future trends accurately by extrapolating existing trends and facts, and use their expertise to meet desired outcomes and create value.
Stepping up with global education
For anyone who is looking to build a successful career in finance and accounting, the need of the hour is a global education. Globally, the main avenues for employment of accountants remain in assurance, corporate reporting, financial management, strategic planning and performance management, tax, and governance, risk and ethics. A global qualification not only makes accountants proficient in global standards like IFRS (International Financial Reporting Standards), but inculcates in them the key quotients to cope with the drivers of change.
Work avenues for accountants
Some of the most sought after jobs for finance professionals continue to be with the big four—Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (E&Y) and KPMG. Accountants can apply their skills to jobs in financial services and consulting, including fund management, personal and private banking, insurance, pensions and investments. They can also look for finance jobs in the public and notfor-profit sector, covering a vast range of government-funded and charitable organisations. Work avenues in different sectors such as FMCG, oil, gas and energy, manufacturing and global business services are also becoming popular; these could involve functions ranging from planning to cost forecasting, auditioning, supervision and management and assessing the value of finished products and services.