29
Jun

WHAT WILL YOU LEARN WHEN YOU STUDY ACCOUNTING?

When mentioning accounting, people immediately think of numbers, recording accounts payable, payroll management, or generally handling financial operations for an organization such as a company, business, or individual. The job of a corporate accountant involves analyzing and calculating income, expenses, and taxes. In particular, accounting plays a crucial role throughout the entire company, from small units to larger-scale operations, in managing economic and financial affairs.

Learn more about the key training programs offered by Viet My College:

DIFFERENTIATION IN THE ACCOUNTING FIELD

Business accounting It is a specialized accounting department involved in accounting for companies, preparing financial statements and cash flow statements, analyzing and interpreting the company's financial results and events, and preparing a specific and accurate consolidated balance sheet (income and expenses).

However, students often misunderstand and have a wrong perception of the accounting profession. In reality, accounting has many different forms: public accounting and corporate accounting. But for this field, you only need to understand the most important thing: we only work with businesses, meaning corporate accounting only tracks the financial records of a company.

Public accounting Public accountants are those who work in accounting roles but do not oversee the financial department of a company or business in terms of analyzing or auditing revenue and profits. Public accountants work solely for public purposes with social organizations and entities, not aiming for revenue and profit analysis. This job is relatively easy and relaxed. However, it is not as popular among young people as corporate accounting.

MARKET DEMAND FOR ACCOUNTING PROFESSIONALS

Every business or company needs a financial analyst who understands revenue, expenses, and value-added tax. Business leaders cannot possibly handle all aspects of budgeting, calculating estimated quarterly and annual tax payments. Therefore, the role of an accountant is more crucial than ever. Finding a skilled audit planner will lead to the company's continued growth. With the increasing demand for intellectual talent in this field, even in the future, accounting graduates will never have to worry about unemployment, as they always hold influential positions within companies, making accounting a necessity for every business.

The task of a worker corporate finance and accounting as follows:

1. The mission of the Accounting and Finance ngành:

Prepare monthly reports by collecting data; analyzing and investigating discrepancies; summarizing data, and providing logical, accurate, and truthful budget information. Advise management on necessary actions, calculate estimated quarterly tax payments; prepare for quarterly and annual tax filings.

Meet financial requirements by collecting, analyzing, synthesizing, and interpreting fund data. (Prepare for tax and income calculations)
Prepare monthly financial reports, analyze accounts as required, and assist in preparing projected budgets.
Support in implementing and maintaining internal financial controls and procedures, and support in personnel management.,
Providing financial advice by researching operational issues; applying financial principles and practices.
Specifically, prepare the budget; implement project development reports. Create financial analyses, find ways to increase profits and generate the highest possible revenue for the business/company.
Updating information on financial revenue and expenditure – treasury work, performing value-added tax payment transactions, carrying out transaction and control tasks with the bank.
Complete the mission of analyzing corporate finances and accounting, and finalize related results as needed. (Manage accounts receivable and accounts payable)
Review and report process costs.
Assisting in the preparation and coordination of the audit process.
Monitor and resolve banking issues, including routine fees, and review departmental budgets for discrepancies.

tim-hieu-nganh-ke-toan-tai-chinh-doanh-nghiep — *Financial statement analysis is an indispensable part of corporate accounting.*

2. Accounting and Finance Skills and Qualifications:

Working with deadlines and under pressure.
Profit management,
Accountant
Auditing
Financial Skills
Information analysis
Financial results report
Statistical Analysis
Business Knowledge

To complete and perform these tasks effectively, a corporate accountant must understand the working rules, from paperwork and stamps to mandatory legal requirements, by staying updated on financial regulations and approved government practices.

To fully understand the entire process of the accounting profession, students not only need flexibility and quick thinking in analyzing data, but also need to accumulate more experience to fully understand the related tasks. They need knowledge of accounting principles and practices, financial principles, financial reporting, and proficiency in relevant accounting software.

3. Do you want to become an accountant or auditor?

If you are considering a career and aspire to become a knowledge worker in a role such as an accountant, accounting helps organize and manage personal or business finances, meaning you will play a key role in the success of companies and businesses.

CAREER OPPORTUNITIES

1. Market demand

The accounting department is an indispensable functional department in any business organization. The demand for accounting professionals in Vietnam is very high; accountants are needed everywhere, from entry-level staff to auditors and senior auditors. It can be said that studying accounting allows you to work in many different departments. Here's a small example:

In banks, entry-level positions for bank inspectors or auditors often require a degree in accounting. Similarly, marketing departments need highly skilled and competent personnel capable of analyzing and solving revenue and profit analysis problems. Therefore, it can be said that from the accounting department to other specialized functional departments, graduates in accounting can confidently apply their skills in large companies and corporations.

In Vietnam, thousands of companies are established every year. Even small companies need around 2-3 accountants, meaning that larger corporations have a much higher demand for accounting personnel. Career opportunities for accounting students are incredibly broad, not only now but also for many years to come.

After obtaining your accounting degree from university or college, you can pursue a career in many interesting ways. You can work in finance as an accounting specialist or financial advisor, including tax accountants, accounting clerks, asset accountants, and personal accountants.

Accountants can also work in a variety of environments. Some accountants work for non-profit organizations, helping directors maximize contributions while efficiently distributing income and expenses.

Depending on where you work, you might spend your days answering financial questions from various departments within the company. This includes attending meetings with accounting and finance professionals, explaining tax options to businesses, reviewing financial reports and documents, or analyzing financial data on spreadsheets. If you are a business owner, manager, or CEO, you will be responsible for daily and monthly reporting.

Graduates in business accounting can take on important positions such as: Senior accountant, senior auditor, senior accounting manager, banking, tax, and fund specialist; work as a financial advisor, financial project manager; or in education and government departments such as: Inspector - lecturer in finance and economics….

See more: WHAT IS THE CURRENT AVERAGE SALARY FOR ACCOUNTANTS?

2. Accounting and auditing staff for foreign companies

Accounting and auditing staff The job involves settling the company's income and expenses, which is extremely important for every company. Finding and selecting an honest accountant is truly not easy for your business. Therefore, to work here, you should prioritize accuracy down to the smallest detail. This includes monthly and annual data reporting, tax issues, etc. Rest assured that if you enjoy this work, you will be highly likely to be nominated quickly to become a senior auditor.

3. Auditor – Banking and Finance Staff

Bank auditing and transaction staff will work in a luxurious and professional environment, making it a top choice for most graduates. In banks, students have the support of technology, making calculations easier. Furthermore, there are many banks in Vietnam, giving students plenty of options for working in the finance and banking sector. If they are proficient and have strong foreign language skills, they can also work for federal or international banks in Vietnam or abroad.

4. Securities and Real Estate Analyst

For young people who love business and are adept at market analysis and financial data analysis, becoming a stockbroker is a great career choice. This role allows you to build a wider network, find valuable partners, and develop strong communication skills. If you excel in this field, you can achieve great success, as salaries for stockbrokers are very high and virtually limitless, based on your analytical and investment abilities.

WHAT CHALLENGES DO ACCOUNTANTS FACE?

Like any other profession, accountants must accept and face daily challenges and difficulties. Constantly dealing with numbers is not easy. Sometimes, simple figures won't cooperate when preparing a financial report or assisting a company with a revenue and profit financial issue. During tax season, tax accountants often work long hours, bringing work from the office home to ensure they have all the necessary and accurate documents to meet deadlines and complete reports on time.

Furthermore, corporate accountants must also grapple with changing rules, regulations, and policies related to taxes and other financial matters from the government, businesses, and companies. Note: “Tax laws and accounting rules are constantly changing. Those who set these rules require finance professionals to be knowledgeable and proficient in handling them, processing financial data as sensitively as possible. This is also the quality of a good accountant: diligence, hard work, sensitivity, and thoroughness. However, to avoid mistakes, you must maintain a high level of concentration to avoid errors when working in other financial institutions. It involves an entire company, so accountants must work honestly and efficiently.”.

HOW TO PREPARE FOR AN ACCOUNTING JOB?

Learn business accounting You can choose universities or colleges to pursue your interests and passions. Take advantage of 3 or 4 years to accumulate experience and knowledge. All accounting training institutions will train students to work in a fairly broad field. Therefore, it will be very difficult for students to select and remember everything.

However, at Viet My College, with its 3-year vocational training program, students can selectively acquire essential knowledge in economic management and financial analysis. They receive systematic guidance and training from top masters and doctoral graduates in Vietnam. Depending on the job position you desire, you will need to obtain the necessary certifications to work as a corporate accountant.

At Viet My College, you can also participate in an accounting internship program while you are studying to get acquainted with, exchange ideas with, and become more familiar with the workings of an accountant or an accounting department.

We wish you success with your choice!

Author: Viet My College - Date written: June 29, 2017

Category: Career information

Tags: accountant, Business Accounting, finance, Learn about the accounting field.