How Can I Specialize an Accounting Degree?

Specialize an Accounting DegreeOne of the best ways to maximize job prospects in accounting after graduation is for today’s students to specialize an accounting degree with a more specific concentration. This ensures that graduates have a broad understanding of core accounting principles and competencies, but also that they know a great deal of information about one specific sector of this rather broad industry. That combination of both broad and specific accounting concepts helps graduates advance more quickly in the field, land jobs in more exciting industries, and put their skills to use in the areas of fastest growth within accounting. For a few ideas, consider today’s most popular concentrations within both undergraduate and graduate-level accounting programs at major universities.

Forensic Accounting

For those accountants who have an interest not only in crunching the numbers, but also in doing a bit of investigative work at the same time, forensic accounting is a natural fit. Those who specialize in this area will find it easier to break into this growing field full of accountants to investigate financial fraud, hold companies accountable, and serve as experts in trials that involve irregular financial reporting, managerial accounting, and revenue allocation. It’s an exciting way to mix accounting interests and criminal investigations all at once.

Financial Analysis

Accountants can concentrate in financial analysis if their ultimate goal is to land a job helping companies better prepare their own budgets and examine where their funds are being spent. Analysts make up the fastest-growing area of the broader accounting profession, and they tend to enjoy slightly higher salaries than the accounting industry average as a result. Coursework will include the basics of accounting work as well as courses that focus specifically on financial forecasting and how to turn past accounting data into a roadmap for future success.

Internal Audits

Businesses generally prefer to avoid having their accounting irregularities uncovered by those on the forensic side of the accounting profession. As a result, demand remains high for internal auditors. These individuals are responsible for daily investigation and oversight of company accounting practices and adherence to generally accepted accounting principles. If they find anything wrong, they’ll be tasked with reporting or even repairing the problem before it causes major regulatory or tax problems.

Tax Professionals

Whether it’s a job in corporate taxation or work with individual consumers who are filing a tax return, there are plenty of job openings in the world of tax preparation. These accountants will take courses that specifically teach how to deal with ongoing government regulations of tax filing, deduction programs, exemptions, and more. After graduation, they’ll have the skills they need to be either corporate or consumer-facing on the job, making this a particularly versatile area of specialization.

Government Accounting

For every accountant who goes into work with a corporation or for individual consumers, many more work for state and federal government agencies. Accountants in this specialty will work on public budgets, spending allocation, and a development of multi-year plans for fiscal stability, tax rate adjustments, and more.

Related Resource: Best Business Degrees

Excellent Opportunities in the Accounting Industry

Accounting remains one of the most stable professions in today’s economy largely because there is no shortage of ways for this set of skills to be applied, according to an article in US News and World Report. ¬†From government work to corporate taxation, internal auditing to investigative endeavors, those looking to specialize an accounting degree can find something that works with their unique interests and professional perspective.