There are various jobs in the accounting field that provide competitive pay and enable candidates to learn financial skills. If you are pursuing a career in accounting, learning about different career paths may help you decide which position is best for you. This article discusses the benefits of a career in accounting and explores various career paths in accounting along with their primary duties.
Careers in accounting can be rewarding options for job candidates, as they may offer high salaries, excellent benefits, and opportunities for remote work. In addition, recent graduates and new professionals can start in an entry-level role, such as an assistant, to gain valuable experience and advance in their careers over time. Working in an accounting job can help professionals learn critical financial skills that they can use in many fields and even their personal lives. Candidates seeking an accounting career may also have many choices, as accounting is part of many industries.
What are the career paths in Accounting?
There are many jobs in accounting because accounting professionals may specialize in different financial topics, including taxes, investment, budgets, and credit. In addition, like many fields, accounting jobs can be at different levels, such as supportive and assistant roles and managerial roles. The job options in accounting and payroll system will give you insights into why you should take an accounting diploma in Toronto to decide to attend online computerized accounting and payroll administration courses to help you obtain the accounting and payroll certificate. According to the job site Indeed, here are the top seven careers in accounting.
- Enrolled agent
An enrolled agent has the power to represent taxpayers before the Canada Revenue Agency (CRA) for tax situations like audits, appeals, and collections. Their knowledge of complex tax codes prepares them to interact with tax agencies, explain information, negotiate agreements, and sign documents on behalf of taxpayers. Candidates need to pass a comprehensive CRA examination to become enrolled agents. Enrolled Agent salaries currently range between $45,000 and $68,500
A bookkeeper tracks an organization’s financial accounts and transactions, such as accounts receivable, accounts payable, sales taxes, and debt levels. Those in this role collect, record, and maintain financial data in books or official ledgers, often using software programs to do this efficiently. They typically complete essential record-keeping, data entry and clerical tasks for more advanced financial professionals like accountants. Salaries can range from $41,254 – $79,965.
3. Tax consultant
A tax consultant is an expert on tax laws and may help businesses or individuals manage their tax obligations. They typically advise their clients on how to complete their income tax returns, reduce their tax liabilities, and take advantage of their deductions to save the most money. They may also provide suggestions on the tax implications of inheritance, charitable giving, rental property taxes, capital gains taxes, divorces, and estate planning.
4. Accounting clerk
An accounting and payroll clerk is an administrative professional who handles basic office tasks in an accounting department or firm. They support supervisory and management personnel and may be responsible for bookkeeping, collecting and sorting records, mailing papers, researching projects, reporting, and resolving financial discrepancies. The average salary for a accounting clerk is $21.24 per hour in Ontario.
5. Payroll manager
A payroll manager organizes and distributes compensation to employees of a company. These professionals also monitor changes in payroll, like employees being hired or redirected. Look into a payroll administrator course online to help you obtain payroll compliance practitioner certification in Canada. The average salary for a payroll manager is $80,198 per year in Ontario
6. Credit analyst
A credit analyst is responsible for assessing the creditworthiness of an individual or company, concluding the probability that a borrower can repay their debts. To do this, they investigate the financial and credit history of borrowers to understand the health of their financial situation. Credit analysts typically work for financial institutions that lend money, such as credit card companies and investment banks. Credit analyst salary range is $45,000 to $55,000 per year.
An accountant is in charge of keeping financial records, interpreting financial data, and making important decisions for an individual or business. While supportive professionals such as bookkeepers gather information and accounting clerks perform clerical tasks, accountants typically have more authority in an organization. They may conduct forecasting and risk analysis assessments, prepare complex financial reports, solve economic issues, and offer advice on reducing costs. Accountant and payroll administrator salary range is between $44,925 and $60,250 per year.
Our Accounting and Payroll Administration diploma will prepare you to obtain the Canadian Payroll Compliance Practitioner Certification. Visit https://thecanadiancollege.ca/diploma-in-accounting-and-payroll-administration/ to learn more about our online accounting and payroll administration courses, and email us at [email protected] to get your application started.