7 Promising Job Prospects for Accounting Graduates

Job Prospects for Accounting Graduates – Until now, the Accounting major is still one of the most popular college majors for prospective new students. This department itself then studies the art of classifying, recording, and summarizing in a monetary measure. Accounting is a branch of knowledge that is much needed in the business world.

No wonder then that there are many companies that accept graduates to help with financial management. Want to study in this Department? Here are some promising job prospects that await graduates. What are they? Check these out!

The Accounting major is perfect for you who have an interest in the financial world and want to dive deeper into the business world, you will learn about various transactions in it. Studying in this department will also learn various things related to financial reports. In the early days of your studies, you will be invited to study introductory accounting or financial accounting which contains various basic accounting knowledge and further understanding.

Entering the second year, you will be invited to study intermediate financial accounting or intermediate accounting which contains the development of a basic understanding of accounting towards a more complex scientific field. For example, on bonds or bond transactions and how to calculate share capital in more detail.

Furthermore, entering the third year you will study advanced financial accounting (Advance Accounting ) which studies the preparation of financial reports for a company, Sinaumed’s. Here are some job prospects for Accounting graduates that can be your choice:

A career in accounting itself promises quite promising income. Not only that, career advancement is guaranteed. According to statistics from the American Bureau of Labor, the average income of an Accountant can reach up to $ 65,940 per year. Although this amount can vary greatly, depending on location, field, working hours, work experience and various other factors.

The American Bureau of Labor also reports that 10% of accountants make nearly $116,000 annually. Accountants have longer working hours than other professions, but are directly proportional to the higher pay. So it is not surprising that this department later became one of the most popular majors in Indonesia.

In addition, almost every sector requires staff in the field of accounting. The job prospects themselves start from becoming an accountant, be it a Public Sector Accountant (Government Accountant), Internal Auditor, Public Accountant (AP), Tax Administrator, Tax Auditor, Banking Accounting Staff, Agency Auditor Financial Supervisor (BPK), Financial Consultants, Teaching Staff, both in Higher Education (Lecturers) and Teachers, Entrepreneurs.

Job Prospects for Accounting Graduates

1. Public Accountant

A Public Accountant can work in a company or individually. His duties include starting from preparing and analyzing various reports and financial documents. This profession must also have a good understanding of tax regulations, and keep abreast of the latest developments in tax regulations. The Professional Accounting Officer himself includes updating financial documents and recording data.

They don’t analyze data like accountants, but only provide data. This profession can also work in various industries. Jobs in this field also make use of computers and technology. Usually no special qualifications are required to be accepted into this profession. Indonesia itself already has a variety of accounting standards used in various organizational and business entities.

However, the main accounting standard in the country itself is IFRS ( International Financing Reporting Standards ) which has also been used on a global scale. Indonesia as a member of IFAC ( International Federation of Accountants ) is also one of the factors why IFRS is used as an accounting standard in Indonesia. Accountant duties include:

  • Prepare financial reports from the company in an integral manner, so that they can be used by internal and external parties in making decisions
  • Ensuring accountability of sources, implementing a reporting system that is tailored to accountability centers within an organization so that the reporting system can contribute to the effective use of resources and measurement of management achievement
  • External reporting, participating in the process of developing the accounting principles that underlie external reporting.
  • Prepare financial reports in accordance with the qualitative characteristics of IAI financial reports, 2004, namely understandable, relevant, materialistic, reliable and comparable, relevant and reliable information constraints, and fair presentation
  • Planning, formulating and participating in developing the planning system, setting the expected goals, and choosing the right ways to monitor the direction of progress in achieving the goals.
  • Evaluating, considering historical implications and expected events, and helping to choose the best way to act
  • Control, ensuring the integrity of financial information related to the organization’s activities and its resources, monitoring and measuring performance, and taking corrective actions needed to return activities to the expected ways

For Sinaumed’s who is interested in the public accounting profession, the book Understanding the Work of a Public Accountant in the Capital Market can be used to better understand what a public accountant actually does in the world of work.

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2. Accounting Manager

The Accounting Manager is in charge of managing and overseeing the accounting department as well as all areas of financial reporting. He is then tasked with maintaining accounting principles and developing best practices, as well as systems to analyze, collect, and report information. An Accounting Manager must also be able to have a solid understanding of various Generally Accepted Accounting Principles (GAAP).

The accounting manager will also advise on financial reporting, budgets, financial strategies and forecasts. Learn various tips and secrets behind accounting, especially for non-accounting managers through the book Accounting & the Secret Behind it for Non-Accounting Managers.

He is also responsible for managing the accounting team, preparing ledgers, assisting with audits and supporting managers across the team with financial procedures. The responsibilities of this profession include:

  • Accounting Manager is in charge of Assign projects and direct staff on a project to ensure compliance and accuracy
  • The Accounting Manager is in charge of Fulfilling financial accounting objectives
  • The Accounting Manager is in charge of Creating and maintaining various fiscal records with the aim of documenting transactions
  • The Accounting Manager is in charge of budget preparation, overseeing budget reports, and budget analysis
  • Documenting complex financial information for executives and managers 
  • Supervise and manage various daily operations in the accounting department
  • Monthly process and year-end process, accounts payable, payroll and utilities, treasury, budgeting, cash forecasting, cash receipts, general ledger, capital asset reconciliation, trust account statement reconciliation, income and expense variance analysis, current checks, fixed asset activity, activity debts and others
  • The Accounting Manager will analyze accounting data, monitor and produce reports or financial statements
  • Establish and enforce appropriate accounting methods, policies and principles
  • Coordinate and complete audits on an annual basis
  • Improve procedures and systems and initiate various corrective actions
  • Provide advice on financial management and procedures as well as the development of various policies
  • Oversee financial reports for tax, regulatory agencies, shareholders, and other financial groups related to company finances

Before continuing reading, sinaumedia has several digital books for job seekers.

3. Account Officers

Account Officer (AO), his job is to market the company’s products to prospective customers who are considered potential and then monitor the financing provided so that the customer concerned then fulfills his obligations to the company, the Account Officer is also responsible for establishing good relations with customers where he plays a role as officers, or people who handle various problems being faced by customers.

If interpreted literally, an Account Officer is someone who takes care of various matters related to clients on a daily basis. Due to the importance of the client’s position in the banking and financial world, the following are some of the duties of an account officer:

  • Conducting various Product Introductions to Customers, Clients, or Consumers
  • Performing Follow Up on Customer Clients. Each customer must also be introduced to the various banking products concerned
  • Ensuring consumers, or customers, and also clients understand well the products introduced.
  • Maintain credibility and company name well
  • Conduct an analysis of debtors who are considered potential and provide various offers continuously
  • Measuring the level of risk, Analyzing collateral or debtor guarantees, Knowing the debtor’s business history and Doing debtor history with BI Ceking
  • Managing Customer Credit AO, must also be able to manage credit from the customer itself. This means that AO monitors customer credit whether it can do credit again or not. So that financing from banks to customers remains smooth and not jammed
  • Making Reports, Every month there is a report that must be made by AO for work accountability for 1 full month. As for the report on customer analysis, adding new customers, adding prospective customers and others related to banking problems between banks and customers. 

In Indonesia itself, account officers can also be found in Islamic banks. It is very important for this profession to understand and understand the philosophical concepts and operational technical financing from analysis to completion which are discussed in full in the book The Way of Sharia: Guide to Becoming an Account Officer of a Sharia Bank.

4. Financial Analyst

The Financial Analyst is tasked with assessing the stability and profitability of a business, sub-business or project. Financial analysis presents a report in the form of ratios to the management of a business as a reference for making company policies. Based on the results of this analysis, management can decide whether to continue or not to continue the operations of a business or part of a business.

In addition, the Financial Analyst also manufactures or purchases raw materials in the production process, purchases or rents production machines, negotiates to obtain bank loans to increase the company’s working capital, as well as various other decisions that allow management to make the right choice of various alternatives. in managing the company.

5A Financial Analyst will also study performance investments such as stocks, bonds, commodities and more to provide guidance to businesses and individuals making investment decisions.

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They can advise companies on financial strategic decisions, such as the ideal company structure. A Financial Analyst is responsible for the financial planning and analysis of a company, which enables the organization to make well-informed commercial decisions. This Professional Responsibilities include:

  • Compile financial reports which include collecting, formatting, analysis and solution recommendations, Sinaumed’s
  • Make cash flow projections and company profit predictions in the short, medium and long term
  • Recommend financial action through the results of an assessment of financial parameters for alignment with company goals
  • Building a financial database includes collecting data and its sources , verification and validation, to the process of backing up the data
  • Recommend the financial structure that must be maintained based on the analysis of the company’s financial pattern
  • Provide reports on the company’s financial condition through a series of financial analysis
  • Evaluate the planning and budget that has been made, by identifying the outcomes that have been obtained and the potential return in the future
  • Observe basic economic, industry, and company developments by analyzing information from publications and financial services, investment banking firms, government agencies, trade publications, corporate sources, or personal interviews
  • Analyze the company’s liquidity conditions.

5. Internal Auditors

Companies in any field definitely need the role of an internal auditor whose job is to ensure that the results of the company’s financial statements are in accordance with the original. Internal auditors must also ensure that all management has conducted business efficiently and there have been no irregularities.

Therefore, the function of the internal auditor must be properly maintained within a company so that there is a control system that is used to prevent deviations from occurring which is more fully discussed in the Internal Auditor Quality Control System book.

The profession of an internal auditor requires high honesty so that irregularities do not occur in the company. The duties of the Internal Auditor include:

  • Prepare and implement the Annual Internal Audit Work Plan.
  • Determine the frequency of audits, the subject of inspection and the scope of the audit to achieve the audit objectives.
  • Test and evaluate the implementation of internal control and risk management systems in accordance with company policies.
  • Examine and evaluate the efficiency and effectiveness in operations, finance, accounting, human resources and other activities.
  • Provide suggestions for improvement and other objective information relating to the activities being examined at all levels of management as needed.
  • Make audit reports and submit them to the Board of Directors and Board of Commissioners.
  • Monitor, analyze and report on the implementation of follow-up improvements that have been suggested.
  • Develop a program to evaluate the quality of the internal audit activities carried out.
  • Conduct special inspections when necessary (whistle-blower).

6. Assistant Controller

As an experienced accounting graduate, you can have a career as an assistant controller for a company or organization. The assistant controller supports company control in all activities related to accounting, including managerial accounting, follow-up accounting, and financial activities within the company.

As a careerist in this field, you should have strong analytical, communication, organizational, and technological skills. A career in this position generally requires at least five years of experience in accounting, or finance, or public accounting experience.

As a graduate with a degree in accounting you can come here, but it is preferred for applicants with an MBA (Master of Business Administration) degree or for applicants who have a CPA (Certified Public Accountant) or CMA (Certified Management Accountant) certificate. In general, the duties and responsibilities of the assistant controller include reviewing financial data, assisting in issuing and submitting invoices, preparing written budgets and reports based on customer needs, establishing an internal control system to prevent errors in financial reports, presenting reports for monthly, quarterly, and the end of the year, as well as other tasks. Account controller duties have the following responsibilities;

  • Ensuring that the company’s billing and payment processes are carried out as they should
  • Ensure that the data in the accounting system is properly updated.
  • Ensuring that the process of bookkeeping and other accounting administration is carried out properly.
  • Ensure monthly tax reports from the company are available and signed by the manager in a timely manner so as not to incur fines.
  • Ensuring all matters related to DO, PO, Invoice and Tax can be allocated properly.
  • Ensuring that all internal company interests related to the accounting division are carried out properly
  • Ensuring that all matters relating to the administration of BPJS TK, BPJS Health and other insurance are carried out properly.
  • Ensuring that other tasks that may be assigned by management to you are carried out properly.