Even while entry-level accounting professions often entail working long hours performing computations, the career path offers chances to advance to senior roles with substantial incomes. Possessing an accounting degree may give you access to a wider range of job opportunities. There are numerous professions in the accounting industry to take into consideration if you're looking for a very rewarding career. Let's explore the most lucrative accounting jobs In Nigeria.
Most Lucrative Accounting Jobs In Nigeria
The task of recording financial transactions falls to a bookkeeper. This could involve handling receipts, payments, and invoicing. They keep a set of books and ensure that the finances are in order. They could also submit financial accounts and complete VAT reports. Candidates need a recognized qualification, such as a level 2 certification in bookkeeping, accounting, or manual and computerized bookkeeping, to become senior bookkeepers.
To assure their accuracy and create financial statements, both internal and external auditors typically review financial records. They may have to discover any financial opportunities or hazards as well as provide tax guidance. They also make sure that the business complies with Section 404 of the Sarbanes-Oxley Act, which requires that an Internal Control Report saying that management is in charge of an appropriate and effective internal control structure be included in a public company's annual financial reports.
An external auditor needs to be a member of the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants in England and Wales (ICAEW), or the Association of International Accountants (AIA), as well as have a degree in accounting, economics, business, finance, or IT and computing. Being a member of the Chartered Institute of Public Finance and Accountancy (CIPFA) is required to conduct audits in the public sector. Accountants must get the Chartered Institute of Management Accountants (CIMA) certification to conduct internal audits, or they can finish a level 7 apprenticeship.
Management accountants supervise the accounting staff and assist in developing and maintaining an organization's financial planning strategy. They frequently generate reports to assist management in making wise financial decisions and boosting shareholder value. An apprenticeship or a degree in accounting, accounting, and finance, or business and management may be required for candidates to be eligible for a position as a management accountant.
Financial analysts research financial data from the present and the past, market patterns, and business news. This makes it possible for them to advise businesses or people about investment opportunities. They analyze financial statements to determine the value of a firm and conduct research to forecast financial consequences.
The payroll team is supervised by payroll managers. They ensure that all wages, including commission, overtime, and holiday pay, are paid to employees on time and in full. They may be responsible for guiding legislation governing employee taxes and compensation, such as minimum wage standards. A Level 5 Payroll Management qualification or several years of experience in the payroll industry are often requirements for this position.
To make sure that businesses adhere to the requirements, tax advisors do research, interpret, and analyze tax legislation. They make sure tax returns and annual accounts are correctly completed and filed on time. They also assist in developing plans to reduce tax obligations. A prospective tax consultant can become qualified by finishing a training program with a firm of solicitors or the tax division of an organization. They could also become certified by the Association of Taxation Technicians (ATT).
An economist assesses the allocation and cost of a company's resources. They investigate market trends and estimate the price of the goods and services that an organization plans to acquire in the future. They also offer suggestions on how to save costs without sacrificing effectiveness and productivity. The majority of businesses demand that economists hold an undergraduate degree in economics or a closely related field, such as statistics, math, business studies, finance, or accounting, while some employers also need a postgraduate master's degree in economics.
Accounts are audited by chartered accountants, who also provide financial papers and reports. Auditing, taxation, and company finance are all part of their duties. They might also provide suggestions for making financial choices. By earning a Professional Diploma in Accounting from the Association of Accounting Technicians (AAT), one can become a chartered accountant.
Forensic accountants look at a company's financial information to find any discrepancies, contradictions, or blanks that might point to fraud. They compile and examine financial data before writing a thorough report that details all financial transactions. AAT professional certifications and the ACCA Foundation Diploma both serve as excellent entrance points. A variety of online certifications are also available from the Institute of Certified Forensic Accountants (ICFA), including Certified Professional Forensic Accountant, Certificate in Forensic Accounting (Level 3), and Certified Fraud Specialist.
The general ledger, payroll, budgeting, monthly, quarterly, and annual financial statements, as well as tax compliance, are all handled by a financial controller. All transactions, including accounts payable and receivable, are managed by them. Most financial controllers have a degree in math, economics, or business, along with management and finance expertise. Additionally, they frequently demand an accounting degree from ACCA, CIMA, or ICAEW.
Investment counsel is frequently provided by investment consultants to banking clients, including wealth management and advice on investments for personal savings and retirement accounts. They support financial transactions, keep an eye on investments, and give clients financial and analytical data.
If you found this article informative and helpful, log on to Hubforjobs.com for more. Click here Hubforjobs
You can also connect with Hubforjobs on all their social media handles for more regular job updates.
This post first appeared on HubforJobs and we are permitted to republish it here for educational benefits.