Once you enter your degree final year, it’s time to think about the future and the accounting specialisations that could be right for you. This will depend on the final results in your degree or top up degree, and also on your personality. If you have the inquisitiveness of a detective, then forensic accountancy might be your career path. Discreet and trustworthy? Then perhaps you should specialise in tax accountancy. Here are 5 specialisations worth your consideration when you graduate from your college in London.
Five Things You Should Know About Accounting Specialisations
For the problem solver: risk assessment
If you’re a skilled problem solver, then risk assessment may be the career path for you. Risk assessment enables organisations to identify, prioritise and manage risk in order to capitalise as fully as possible on business opportunities. Your clients will also be looking to protect their reputation or get an edge over the competition. With your strong interpersonal skills, you could be just the person for the job.
If you’re interested in casting your keen eye for detail over an organisation’s internal business affairs and reporting your findings to senior management, internal auditing may be the choice for you. You’ll identify weaknesses and inefficiencies and financially risky or even fraudulent activity, thus helping to strengthen the organisation.
Business aware? Try commercial finance
There are opportunities in retail, leisure and manufacturing for accountants with good business and analytical skills. You’ll analyse performance and help businesses maximise their profits. If you can take the pressure, a career in corporate finance checking the books of target acquisitions could suit you.
Use your excellent communication skills as a business financial accounting
Financial accountants often need to explain complex financial arrangements to people with little background or understanding in financial matters. That’s where your communication skills come in. You’ll also need a logical and analytical mind to analyse financial transactions and report on your findings to provide crucial information on how a business or organisation is performing.
Like a business financial accounting, you’ll often find yourself communicating complex information in an easy-to-understand fashion. However, you’ll also have excellent business acumen and know what economic information a business needs to make informed decisions. You’ll have acquired in-depth knowledge of your business sector, and as a management accountant you’ll combine skills in strategy, planning, and management along with accountancy to provide specialised guidance for business.
At Mont Rose College, if you’re still unsure, we can help advise you on your career route for life after graduation with us. Contact us today to find out more.