What is the Job Market Outlook for Accounting Directors?Job Market Outlook October 13, 2013
Accounting Directors are the ones that keep track of that huge vat of money coming and going from a company, not to mention the ones who manage the accounting staff. It is a job of enormous responsibility since this worker reports to the highest chain of command and will very often have to accept responsibility for major leaks.
A person who can keep the finances balanced will always have a job and a top paying one for that matter.
The market as well as this particular profession is one that is reporting growth. Until the year 2020 it is set to rise to sixteen percent, which is a significant increase. One of the reasons this job is staying in high demand, as opposed to other jobs that are dwindling, is because of the increased importance of scrutinizing expenses and avoiding corporate scandals.
Stricter laws have been implemented for this purpose, and it is difficult for a company to keep track of all the new standards in business. There are tighter lending standards, higher audit standards, and much legality that cannot be dismissed. As an accounting director, you must never let any information slip by you—this is precisely what the company pays you for.
Another factor influencing the industry is the emergence of globalization. This is a trend that is certainly not a passing fad. The increased need for international financial guidance is a great skill and one that can land you a prominent position.
When it comes to qualification, education and certification are the two key factors. The CPA or Certified Public Accountant title is one goal, and will open doors for you. You will be recognized as a professional – one who is willing to put his/her career and name on the line. If you are wrong, you do not keep your certification.
Companies value that tremendously. A master’s degree in business or accounting also goes a long way in a crowded field made up of many bachelors.
Small and Large Businesses React to a Changing World
There is a concern in the tax and financial industry suggesting that small businesses are in for a difficult amount of time. The recession is certainly a damaging blow and figures that suggest the unemployment rate is decreasing, and workers are actually exiting the working world, are not positive in general. However, with recession come some strong certainties—like the need to carefully review finances to determine potential problems.
There are new legal concerns coming off the Affordable Care Act of 2010 presided over by Barack Obama. There are also many small businesses that are currently in a hiring holding pattern when it comes to new employees.
So in terms of job outlook, what we observe is that large companies hire only the most qualified subjects, whereas smaller companies tend to wait and consolidate. Nevertheless, many companies are focusing on proactive solutions, such as market development, rather than mere cost-cutting.
If this is the case, once again, that means a likelihood that companies will be depending on accounting directors who can help them plan radical but economic campaigns.
If you show yourself to be a hardworking, knowledgeable student and progress towards certification and gaining valuable work experience, you will show these companies that you are an un-expendable worker capable of helping them rain or shine.