Understanding the Accounting Profession: Roles, Career Paths, and Skills

Accounting profession
PART A & B

Contents
Introduction..............................................................................................................................3
Part A........................................................................................................................................3
Part B.........................................................................................................................................4
Conclusion.................................................................................................................................5

Introduction
Accounting is a profession that carries out accounting tasks like financial statement
analysis and auditing. There are several accountants who are in practice of public accounting
which requires license. Individual states in the US grant a credential known as a Certified
Public Accountant (CPA). Similar titles like "Chartered Accountant" are available in other
nations (Alzubaidi, and Alekseeva, 2021). In Worldwide, the accounting industry supports,
develops, and promotes accountants. They play an important role in preserving accountants'
competence and moral character, both of which are required for strict adherence to standards.
The report covers the reflection on the understanding of accounting profession.
Part A
In a business the accounting has vital role which helps in tracking income and
expenditures along with provides financial information to investors, management and
government that can be used in making of business decisions. The accounting defines
systematic & detail record of financial transactions of business. while thinking of accounting
profession it helps in providing clear picture of financial position. It tells about whether profit
is made what is cash flow, current value of organisation assets and liabilities. The career in
accountancy offers stability as there is always need for skill set. In the accounting profession
there are several types of accountants such as certified public accountant, auditor,
government accountant & investment accountant (Aysan, 2019). To become an accountant, it
requires degree and advanced degree of master of business administration in accounting &
finance. The accountants are respected business professionals which are known for integrity
and ethics and our opinions matters in making business decisions. There are several factors
which influences accounting profession as I can advance my career into various following
area such as financial accounting, management accounting, taxation, auditing etc. the choices
of career path are influenced by intrinsic & extrinsic motivation, third parties and career
exposure. The accounting profession can be influenced by the factors of employment growth
that tells me about how many new jobs has been created. The number of people employed
and skill shortages etc. With this other factor which I will consider for professional practice
such as staffing structures, working conditions, availability of resources and many more.
Being an accountant, I will interact with internal and external stakeholders which can be
managers, investors, suppliers, creditors etc. With this I expect to interact with co-workers,
managers and clients as manager will assign the task & progress is tracked whereas some of