Factors Influencing Accounting Career Choice and Digitization Impact

This report delves into the process of career planning within the field of accounting, focusing on the factors that influence an individual's decision to pursue this career path. It identifies both internal factors, such as psychological motivations and personal interests, and external influences, including f...Read More

Planning a career

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Effect of digitization on accounting as a career...........................................................................2
Two important role of Human resource management in accounting .........................................2
Role of legal department in routine functioning of accounting functioning unit......................2
CONCLUSION ...............................................................................................................................2
REFERENCES................................................................................................................................4

INTRODUCTION
Career planning is considered to be as a long term procedure. This activity is executed by
an individual in order accomplish desired career objectives. It is very much important for an
individual to make career plan considering the field in which they have interest, as this activity
will provide them an ease in achieving goals.
The report have focus on identifying internal as well as external variables which have
direct influence on individual decision related to selecting accounting as a career path.
MAIN BODY
I have selected accounting as a career path, as this is the field which offers different
opportunities. As accountant I can get a chance to become expert in Auditing. In addition to this,
there are lots of job opportunities in accounting field for instance I can become chief financial
officer, Forensic accountant, financial planner etc. Some internal as well as external factors
influencing my choice related to selection of Accounting as a career are : Psychological factors,
it is considered to b e as an internal factors which motivates an individual to select accounting
profession. For instance, I have selected accounting as a career path because I have interest in
this field. In addition to this, awards which I have achieved in my educational field has inspired
to pursue career in accounting. Family influence: This factor has highly influenced me to select
particular path. Parental influence can have both negative and positive influence on an individual
decision to select particular path (Sagiv, Roccas and Schwartz, 2017.). As my father is
successful accountant, this factor has motivated me to select accounting field.
Social factors : There are few events have taken place in my life which has highly
influenced me to select specific career field. In addition to this, Changes in the economy and
resulting job market. In addition to the changes in taxation system has lead to demand of
accountant, this factor has motivated me to select accounting as a career path.
Legal and political factors : The changes in educational policy as well as the actions of
political party towards education or particular field has direct as well as significant influence on
individual decision related to the selection of accounting field as a profession (Schaltegger and
Burritt, 2017.).
Economic factors: As I belong to family with average income group, I have been highly
influenced by the income in particular field. In addition to this, job opportunities, market, level of
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employment, competencies of the profession etc. has motivated me to selected accounting as a
career path. Salaries of accountant ranges is approximately sixty five thousand dollar per year
(Fleischman, Walker and Cook, 2017).
In addition to this, I believe that I have certain abilities as well as capabilities such as
analytical as well as social which makes me the best suitable for accounting profession.
Effect of digitalisation on accounting as a career
There are many soft wares such as Tally, ERP etc have been launched in the marketing
which can be utilized by accountant for preparing accounts. These advance software enables
accountant to store as well as maintain all the financial data in systematic manner. One of the
major impact of digitization on accounting is that Artificial intelligence in accounting is in the
area of compliance, as all data handling and processing is being completely automated. It has
also assists in ensuring accuracy in tax report. Artificial has helped accountants in resolving
various accounts related problems. It has reduces the chances of errors in accounting books.
With the support of digital technology such as artificial intelligence , reconciliation process has
become quick and easy task (Holt, Burke-Smalley and Jones, 2017). In additional to this,
digitization has allowed accountant to concentrate on advisory services.
Two important role of Human resource management in accounting
One of the crucial function of human resource manager in an enterprise is processing
payroll in timely as well as accurate way. The other important role of human resource manager is
Perform payroll or benefit related reconciliations to the General Ledger as well as other
accounts.
Role of legal department in routine functioning of accounting functioning unit
Functional of legal team in an enterprise is to ensure that all the accounting standards are
being followed while preparing accounts. In addition to this, role of legal department is to ensure
that proper as well as time audit of accounting books has been done (Mirowsky, 2017.). All these
activities of legal department helps an organization in eliminating various issues.
CONCLUSION
It has been concluded from the report has there are various internal such as physiological
factors have great influence on individual choice related to career path. Study has also concluded
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that external variables such as social, parental, economic, legal constituent also have great effect
on choice of career path. It has also been concluded from report that legal department has
important role to play in routine functioning of accounting team.
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REFERENCES
Books and Journals
Fleischman, G.M.,Walker, K.B. and Cook, K.A., 2017. Factors That Influence Accounting
Faculty Career Satisfaction: Comparisons by Program Prestige and Tenure Status.
Accounting Horizons, 31(3), pp.1-20.
Holt, T., Burke-Smalley, L.A. and Jones, C., 2017. An Empirical Investigation of Student Career
Interests in Auditing Using the Big Five Model of Personality. In Advances in Accounting
Education: Teaching and Curriculum Innovations (pp. 1-31). Emerald Publishing Limited.
Malgwi, C.A., Howe, M.A. and Burnaby, P.A., 2005. Influences on students' choice of college
major. Journal of Education for Business, 80(5), pp.275-282.
Mirowsky, J., 2017. Education, social status, and health. Routledge.
Sagiv, L., Cieciuch, J. and Schwartz, S.H., 2017. Personal values in human life. Nature Human
Behaviour, 1(9), p.630.
Schaltegger, S. and Burritt, R., 2017. Contemporary environmental accounting: issues, concepts
and practice. Routledge.
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