Mostly people are in great confusion for their career in accounting field. But when they will visit this post their confusion will be off after reading this article about Career in Accounting in Pakistan. Professional accountants of today have careers that use e a wide variety of skills applicable to highly specialized roles. Accountants work with individuals, small businesses, large corporations, non-profits and government agencies to prepare and organize financial and tax documents. We have mentioned a lot of information regarding Career in Accounting in Pakistan.
What is Accounting?
Accounting is defined as an organized way to keep records of business and financial transactions, summarize those transactions, and analyze, verify, and report financial results. Another way to look at accounting is that it’s an information system designed to identify, measure, record, and communicate reliable, relevant, and consistent information about the economic activities of an organization.
How is the Field of Accounting?
Accounting is a field that will always be in demand and it is a field that you can continue to grow and move up inside your company. There are so many different positions you can find in the accounting field. Careers in accounting can range from entry level positions to executive level. Accounting firms provide accounts graduate opportunities to start a career right after their graduation as a trainee accountant in Pakistan.
Career in Accounting in Pakistan
Courses In Accounting
Bachelors Accounting & Finance courses and programs in Pakistan following,
- Business and management
- Management sciences
- Banking and finance etc.
There is large number of Colleges and Universities in Pakistan which are offering admissions training and qualification in management accountancy and related subjects in the above mentioned accounts and finance courses and programs completely on merit basis check here from Commerce Admissions after Matric, Inter, Bachelor also.
Positions in Accounting in Pakistan
- Tax planning
- Auditing Jobs
- Loan officers
- Tax preparation
- Cost accounting
- Budget analysts
- Cost estimators
- Financial managers
- Insurance sales agents
- Insurance underwriters
- Managerial accounting
- International accounting
- Governmental accounting
- Corporate and partnership tax
- Accounting and Banking Jobs
- Bookkeeping Jobs
- Financial Analysts
- Personal Financial Advisors
- Claims adjusters, appraisers, examiners and investigators
- Purchasing managers, buyers, and purchasing agents
- Securities, commodities, and financial services sales agents
- Tax examiners, collectors, and revenue agents
Types of Accounting Degree in Pakistan
Accounting field is vast some of most popular and most accountancy courses available in Pakistan.
- I.Com (Intermediate Commerce)
- B.Com (bachelor of Commerce)
- M.Com (Master of Commerce)
- C.A (Chartered Accountancy)
- ACCA (Association of Certified Chartered Accountant)
- CIMA (Chartered Institute of Management Accountants)
- Careers in Accountancy
More specifically, there are large numbers of career options available to graduates of accounting programs the following:
- Bank Examiner
- Certified Public Accountant
- Chief Accountant
- Finance Manager
- Financial Analyst
- Internal auditor
- International Trade Specialist
- Loan Administrator
- Tex Advisor
Accounting Salary (Starting Salary)
Accounting salaries can vary greatly based on your position in the accounting department. You can do entry level work, such as an accounting clerk or accounting assistant, and make an average salary more than from $30-$40,000 a year. Working your way up through the accounting department takes time and skill but as you do so your salary should increase. Moving up to accounting managers and beyond, you can easily make $100,000 or more a year. Chose the accounting department as per career, if you most interested in, learn what it entails, what education you may need and the salary you can potentially earn.
Future of Career in Accounting
Accountants have more chance to grow faster than all occupations in the coming days. The main fact is that will drive the growth of this career are, increasing businesses, securitization of companies finance, changing and new up-and-coming rules and regulation of financial sector’s.This is the first step to your successful career path. After school, find your first accounting job. Come into a company as an accountant. Learn as much as you possibly can. The atmosphere in the chartered accounting firms is quite clean, peaceful and professional.
Working Procedure and Duration in Accounting Field
Accounts department workers generally work a standard 40-hour week, but some work 50 hours a week or more from it’s duration’s. Tax accountants often work long hours during the tax season only, from January to April. Accountants working for the government and public companies travel to audit other companies or branches of their own company is necessary for manage all transactions. With rule of travel in various office of companies is main purpose to some people chose to go off into a different branch of accounting but with more experience comes more money and more opportunities for advancement.
Opportunities for Accountants
There are countless possibilities for accountants to work in Pakistan. Accounting firms allow accounting graduates to get a job as accountant trainees in Pakistan after graduation. Suppose you are a person who enjoys working at home or in their own office. In that case, you may consider outsourcing accounting since there are many outsourcing opportunities worldwide, and finance and accounting positions are an outsourcing possibility. The possibilities in the accounting field are so numerous and broad that choosing the best career option could become an important test. Therefore, it’s time to consider becoming an accountant by selecting the best degree program to prepare you for your future.
ICMAP gives certification of 1 year and two years and a final certificate in Accountancy. Accounting courses offered at the above institutes will guarantee an enviable career. The classes are highly regarded in the financial and business sector.
Personal characteristic in Accounting
During the training program and afterwards, a person must possess the following characteristics in his character.
The people who wish to become accountants must be skilled in math and possess strong analytical abilities. They must also be able to write well and communicate their findings to others. Honesty, independence of thought and determination to work hard, never tired, mental capabilities, decision-making skills and academic skills, ability to analyze problems, as well as interpersonal skills, a determination to improve, exceptional aptitude in accounting, a broad understanding of business, determination confidence in oneself, self-assurance and logical thinking, creating an accurate picture of the details, efficient utilization of resources, etc., are central characteristics.
Nature of work in Accounting Firms and Companies
Auditors and accountants are employed in offices. They typically work a 40-hour working week, though sure accountants and auditors work 50 hours each week or longer. Tax accountants usually have extended hours during tax season, which runs from January through April. Accountants for public and government companies are often required to audit other businesses and branches within theirs.
Most chartered accountants stay in the office, while auditing requires going to the client’s office, so outside-of-office tasks are an integral part of the job. If the client is local and travelling, there may be intercity travel. Clients with international business require to travel abroad. The atmosphere of chartered accounting firms is tidy, tranquil and professional.
Is accounting a good career in Pakistan?
Accountants are employed in many areas, including taxation, auditing, and debt recovery. It’s also one of the highest-paying jobs available in Pakistan.
What are the four careers in accounting?
- Management accountants who are chartered (further education required)
- Cost accountant.
- Cost clerk.
- Cost controller.
How much an accountant earns in Pakistan?
The average salary for an accountant is PKR 114280 per year in the Pakistan region, which is an average of PKR 44,280 monthly.
Which is the best job for accounting?
In this regard, Here are the top accounting professions for 2023 (with the salary estimates of Glassdoor):
- Information and Technology Accountant
- Senior Financial Analyst
- Forensic Accountant
- Managerial Accountant
- Chief Financial Officer (CFO)
How do I start a career in accounting?
5 Steps to Become an Accountant
- Earn a Bachelor’s Degree. For entry-level accounting jobs, having a bachelor’s degree is the minimum qualification.
- Decide Between Becoming an Accountant and CPA
- Pick an Accounting Specialty
- Earn a Master’s in Accounting Degree (Optional)
- Obtain Accounting Certification
What are the three fields of accounting?
A business should use three different types of accounting to keep track of its expenses and income most effectively. These are cost, managerial accounting, and financial.
Which degree is best for accounting?
Completing a bachelor’s in accounting may help you qualify for CPA, the Certified Public Accountant (CPA) test.
What is the most straightforward job in accounting?
- Budget Analyst.
- Public Accountant.
- Accounting Assistant.
- Accounting Clerk.
Who is the father of accounting?