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Curricula

Career Opportunities

Accountacy

There are a number of categories in the field of accounting jobs. All of them focus on the financial operation of a company, and offer various and rewarding opportunities. Those coming straight out of the college campus must look for entry-level jobs like account clerk and pay clerk. However, by virtue of gaining experience they will be able to move higher in the chain and get supervisory positions subsequently. But those with higher qualifications, like a Master’s degree in Accountancy, can directly enter the supervisory cadre.

The accountant renders professional service in any of the following major fields of work:

Public Accounting

• This is a career field which offers to the public, for a fee, expert services like auditing, accounting, tax, administrative, advisory or liquidation matters of the firm. For auditing and accounting services, it is required that one must first pass the Certified Public Accountant (CPA) Licensure Examination given by the Professional Regulation Commission. Qualifications as well as requirements for one to become a CPA are contained in the Accountancy Act of 2004.
• As an auditor, one is licensed to make an independent review of the financial records of the firm and render an opinion as to the fairness of the firm's financial statements. Audited financial statements are required not only by the government and financing institutions but also by the shareholders of a corporation. He renders not only audit services but assurance services as well.
• As an tax consultant, one is skilled in tax matters and gives advice concerning tax consequences on economic or financial decisions made by an individual taxpayer or a business entity. The tax expert represents the taxpayer (an individual or a firm) on tax and other accounting related matters before government agencies such as the Bureau of Internal Revenue and the Bureau of Customs.
• As an management consultant, one provides services ranging from accounting system analysis, design, review and installation, financial planning, budgeting and cost controls.

Private Accounting

• This is the career field where the accountant is employed by a particular person or business enterprise to serve as general or chief accountant, controller, budget officer, internal auditor, electronic data processing head or cost accountant. The Accountancy Act of 2004 mandates that positions requiring supervision of the recording of financial transactions, preparation of financial statements, coordination with external auditors in institutions whose paid up capital is at least five million pesos (P5,000,000) and/or an annual revenue of at least ten million pesos (P10,000,000) must be occupied by a duly registered certified public accountant.
• As a bookkeeper, the person with knowledge of accounting does the routine work of recording, classifying and summarizing phases of accounting. Most often, his/her work is supervised by the Chief Accountant who does the preparation of the financial statements.
• As a controller, the person is the overall in charge of all accounting activities and functions as the chief accounting officer of the company whose work includes the preparation of financial reports, performance reports, budgets, controls and tax studies.
• As an internal auditor, the person assists in the maintenance of the organization's internal control by conducting on-going review to ensure efficient operation, compliance with company policies and protection of company's resources.
• As a budget officer, the person prepares plans and forecast of the company’s future operation. Primarily, projections of the activities measured in quantitative terms are prepared to ensure that established goals will be accomplished. Budgets serve as control devices against which actual performance (activities) are measured. Budgets ensure efficiency of operation.
• As a Chief Information Officer (ClO), the person is in charge of the information and communication technology department whose function is to oversee the electronic data `processing operation (through the electronic equipment such as the computers) to ensure its efficient performance, maintenance and control.
• Tax Officer, the person handles tax planning, prepares tax returns and advises management on the effect of taxes on his various plans and projects.

Government Accounting

• This is another career field where one works as accountant, auditor, budget officer or electronic data processing head of any of the government agencies. Examples of government agencies requiring the services of professional accountants are the Commission on Audit (COA), Bureau of Internal Revenue (BIR), Bangko Sentral ng Pilipinas (BSP), Government Service and Insurance System (GSIS) and Bureau of Custom (BOC).

Research and Education is another professional field where the accountant assumes the role of researcher, teacher and reviewer.

• As a researcher, the person investigates and makes a study creating, applying, relating or improving accounting theories and business concepts that will suit the changes taking place in a particular business or industry.
• As an accounting professor, the person is responsible for the formation of competitive accountants and consultants and teaches subjects such as accounting, auditing, management advisory services, finance, financial management, business law, taxation and other technically related subjects.
• As an accounting reviewer, the person helps prepare the candidates for the CPA Licensure Examination.

References:

County of Santa Clara (2004). Retrieved from the Web 06/04/09. 

Holmes, Ivana M. (2007). Retrieved from the Web 06/04/09. 

Watson, Carin L. (2009). Retrieved from the Web 06/04/09.