Career Paths, Strengths, and Challenges in Accounting

This report provides a comprehensive overview of professional and personal development within the accounting field. It begins with a description of the accounting profession, highlighting key roles and responsibilities such as financial reporting, cost reduction, and profit maximization. The report then analyzes various career paths within accounting, from entry-level to senior positions, and illustrates these paths using graphs. A significant portion of the report focuses on identifying individual strengths and linking them to potential career paths, emphasizing skills like analytical thinking, attention to detail, and communication. It also addresses potential challenges in the accounting profession, such as automation and continuous learning, and discusses strategies to overcome them. The conclusion underscores the importance of both personal and professional development in achieving career goals and fostering a positive work environment.

Professional and personal
development

Table of Content
 Introduction
 Description of professional field
 Discussion and analysis of career paths
 Use of graphs for illustrating career paths
 Identification of strengths and linking them with possible career paths
 Identification of possible challenges as well as discussion about ways to
overcome them with strengths
 Conclusion

Introduction
 Professional and personal development could be defined to aspects which
assist an individual in managing their own growth along with learning
through out career. To understand the concept, selected field of professional
interest for the presentation is Accounting in which a person performs
responsibilities of account analysis, financial statement analysis, auding and
so on.

Description of professional field
 Accounting is a professional field of recording, cataloguing, analysing
together with reporting financial transactions of an enterprise (Stout,
2020). It is an on-demand career field with impressive salaries together
with job opportunities.

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While working in the profession of accounting, my key roles and
responsibilities includes the following in the company:
 To prepare, maintain and interpret significant financial reports for the
entity.
 To offer guidance related to reduction of cost, enhancing revenues and
maximising profits.

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Accounting bodies have significant mandate to represent, promote
addition to enhance the profession at global level (Christensen, 2018).
There are certain trends that influences profession of accounting which are
as mentioned:
 Accounting automation
 Transparency and security
 Data analysis

Discussion and analysis of career paths
 Career paths are termed to smaller number of jobs on a career cluster which
makes use of similar skills (Loh, Peong and Peong, 2019). With the help of
career path, an individual is able to find out the ways to move from one
occupation or job to another within the cluster of careers. It comprises of
jobs which an individual requires to hit for ultimate goals of career.

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The first phase of accounting career path engrosses acquiring appropriate
education. There is various career path in field of accounting which are
discussed and analysed underneath:
 Entry level
 Mid-Level
 Senior Level

Use of graphs to illustrate career paths
 Career paths are either the path through a sector or any path for reaching
great height in career (Arnaboldi, Busco and Cuganesan, 2017). For
instance, when a person has goal to become Personal Financial Advisor, they
typically start their career with Staff accountant or Junior accountant.

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Some of career paths in the field of Accounting are as illustrated:
 Tax Accountant
 Internal Auditor
 Compliance Officer
 Budget Analyst
 Financial Examiner
 Operational Research Analyst
 Credit Analyst
 Personal financial Advisor
 Financial Analyst

Identification of strengths and linkage with
possible career paths
 When an individual strives to make career in field of Accounting,
then there are ample of skills, knowledge and potentials that they are
required to look for development as well as building them
throughout the path of career (Shaub, 2020).

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 Many a time, it goes without saying that impeccable skills and knowledge
about techniques to work effectively are required within an Accounting
professional (Loft, 2020). As an Accounting professional, my key strengths
and their linkage with possible career path are as identified:
Out of box thinker
An eagle eye for details
Commercial acumen along with strong client focus
Effective communication