Professional Documents
Culture Documents
II.Introduction:
What is an accountant?
here are many definitions of accounting that have been issued by different organizations
and publications. The following are some of those definitions:
Thus, The purpose of this research was to particularly help accounting students to
choose a career path on what they will pursue. The purpose of this research is to help
Accountancy students choose their career path.This research can also benefit
graduating studentsAnd people who are pursuing Accountancy as their career.
III.Scope of the Study:
This study was conducted on ABE main campus legarda with 30 students. Base on my
interview most of the students preferred to be a public accountant rather than private
because they believe that most public accountants have higher salaries and benefits
than private accountants. And Base on my research here are the pros and cons of a
public accountant:
Starting a career in accounting is a smart choice - with forecasts for significant growth in
the industry, a high median salary, and a demand for qualified accounting professionals,
the time has never been better to join the field. However, once you have decided that
you're going to pursue an accounting career, you will be surprised that the field is much
larger than you might have though.
I have tried to interview as much as many of BSBA student simple because they have
much more knowledge in accounting than BSIT student like me. Most of the BSBA
student answered that they want to be in public accountant mostly because of the
benefits the government were offering.
Base on my research most of the college students I have interviewed they prefer to be
in public accountant Because being in public accounting job opportunities may come
sooner. And also they want to develop their skills in accounting. Some, answered me in
an unusual way giving that the world we living in is being more and more competitive
and harsh. They have answered that they want to be in public accountant simple
because they want to help people and they are a people person who just loves to help
people. And also they have answered public accountants mostly because of the
benefits the government offered unlike in private.
The purpose of this study was to help college students especially in accounting chose
their path or careers. To give them some background on what have yet to come. And
give them some ideas on what they should choose in the coming years, to prepare
them.
Choosing a career path is challenging, and trickier in the coming days. Even within a
particular industry, There are pros and cons to every career decision you make. Should
college student ever need help when choosing a career to pursue on accounting I was
hoping that this research was able to help them.
The goal of this study was to help us understand what career path will suit for you and
to give us an idea why they choose that career path.
The main purpose of this research was to help college students especially in
accountancy in choosing their career path. Help them to look ahead in what problems
they might face in their choices.
V. Background of the Study:
When deciding upon which field of study to pursue within accounting, the decision may
come down to working in public accounting or private accounting. In essence, public
accounting involves being an independent third party that examines the financial
statements and supporting systems of client companies to see if their financial
statements fairly represent the results, financial position, and cash flows of the clients.
Career path. The career path of a public accountant is to advance through the positions
of auditor and audit manager to eventually become an audit partner. An audit partner is
expected to manage audit relations and bring in new business. The career path of a
private accountant can begin in one of several specialty areas and advance into an
assistant controller position, with eventual promotion to controller and then to chief
financial officer (CFO). The CFO position is responsible not only for all internal
accounting functions, but also treasury, risk management, and investor relations.
Work environment. The work environment for the public accountant can be difficult,
since it involves travel, long hours, and sometimes spotty working conditions with tight
deadlines. The work environment for private accounting is much more stable, possibly
with no travel, a fixed work location, and regular hours.
Resume impact. The name of a large international auditing firm on a person's resume is
considered a major career enhancement. This may not be the case for private
accounting, since most jobs are with smaller companies whose names are not well
known outside of their industries or geographical niches.
Social skills. Both kinds of accounting demand social skills, but of different types. A
public accountant must be able to interview clients regarding their systems, and politely
discuss possible system failures (essentially criticizing the work of clients). A private
accountant needs to work with other parts of the company to develop or revise
accounting systems and supporting procedures. The first case can be more
confrontational, while the latter case can be more collegial. An introvert working in
public accounting can have a more difficult time, due to the social and confrontational
aspects of the work.
Job satisfaction. Bluntly stated, many people do not like to work in the public accounting
field because they find that passing judgment on the work of other accountants is not
fulfilling. Conversely, job satisfaction tends to be higher in private accounting, where
accountants are creating business transactions and reporting on the results of a
business.
Accounting profession
The accountancy profession is practiced by accountants. In the Philippines, qualified
accountants have degree in Bachelors of Science in Accountancy. A Certified Public
Accountant (CPA) is a professional who has passed the Certified Public Accountant
Licensure Examination required by the Professional Regulation Commission through
the Board of Accountancy. CPAs can practice their profession in public accounting,
private accounting and government accounting.
Purpose of accounting
Accounting aims to supply financial information to the following users to assist them in
making better decisions.
Base on my research, here are the average salaries of some accounting companies.
11 salaries
6 salaries
43 salaries
5 salaries
8 salaries
10 salaries
6 salaries
8 salaries
7 salaries
19 salaries
270 salaries
151 salaries
120 salaries
100 salaries
85 salaries
2. Investors
4. Lenders or creditors
5. Suppliers
6. Customers
7. Government agencies (BIR, SEC, LGU, PSE and other regulatory agencies)
8. The public
From the definitions above, we can have the following processes and phases of
accounting:
a. Recording – also called journalizing, involves the routine and mechanical process of
committing to writing business transactions and events on the books of accounts in a
chronological sequence in accordance with established accounting rules and
procedures.
d. Interpretation – this involves analyzing the liquidity, solvency, stability and profitability
of an entity.
IV. Discussion:
Survey 30 Student
23%
35%
27%
15%
30 students genders
23%
Pros
Cons
Here are some of the potential drawbacks of choosing this career path:
A pressure-filled environment
And Several of the college students chose private accountant because they said it was
easy. And got the possiblitiy of higher salary than public accountant which is fixed. And
they said that being a private accountant puts you on a more comfortable working place
than being in a public accountant. According to my research here are some of the pros
and cons of being a private accountant:
Pros
Here are some of the potential drawbacks of choosing this career path:
I think this finished survey’s result was based on accounting students who knew some
or have accountants in their families. They are basing their answers on what information
they have been given by that certain someone. They are always answering me with
starting the sentence “my accountant aunt told me that public accountants are much
better because they have benefits.” And also some of BSIT students. Answered me the
same starting sentences especially Randolph C. who is a BSIT, he said that being a
private accountant has a higher chance of higher salary than public which has a fixed
salary. That answer contradicts some of my survey’s answers. For me, atleast I think
they should reevaluate themselves on what career they will pursue because you can’t
choose a career path in accounting base on what others will tell you because they will
not be the one to face all the challenges that may come to you on that certain path. The
one will face that challenges will be you.
Most of the college who took my surveys was BSBA females and they all answered and
wants to be a public accountant Because they preferred to have benefits of the
government. Rather than have high salary without benefits.
The biggest question that arises when you complete your graduation and are looking for
career options to pursue. Now, if you intend to pursue a career in the field of
accounting, then the decision may come down to the choice between public accounting
vs private accounting. The decision may be driven by few factors (not exhaustive) which
include the expectation of the type of work, one’s personality traits, and career goals.
This article is an attempt to provide an insight into public accounting vs private
accounting, the types of accounting career which will help one to determine which
career path is the best for your future.
Overall I think the best choice was the choice made by the BSBA students because
they have more background in accounting than BSIT students which is being in a public
accouting industry because it will improve your skills more in accounting than private.
And being in a lot of pressure in work can do you good too, you will gonna be
competitive at the same time you’ll learn how to deal with different kind of clients. When
you were meeting different type of clients, you will have the opportunity to travel a lot. It
will expand you’re network not just in accounting but in other areas of professionals.
CPAs usually work in an office setting with significant computer-based work. They may
have to work long hours, especially during the annual tax season (January to April).
CPAs may work in a variety of settings, such as larger or small accounting firms,
companies in a range of industries, non-profit organizations, or local, state, or federal
government agencies; they may also be self-employed. These accountants may have a
specialization such as financial planning, taxes, auditing or valuation, among others.
The average salary for an Accountant is Php 22,750 per month in the Philippines.
Salary estimates are based on 1,229 salaries submitted anonymously to Indeed by
Accountant employees, users, and collected from past and present job advertisements
on Indeed in the past 36 months. The typical tenure for an Accountant is 1-3 years.
VI. Conclusion:
Regarding in my survey mostly College students that taken up my survey wants to be a
Public ccountant. I think because they look up to someone else they knew that is a
public accountant.
And I don’t really consider Much of the BSIT course that’s taken up my survey because
they were information technology students, they really don’t know much what they were
talking about on accounting.But overall I still need their opinion regarding the matter.
What I am saying is I give much more credit to those BSBA who pointed out that being
in public accountant is much better because of job opportunity may come sooner rather
than private accountant.I think because they were in rush to be rich or they simple need
more money. And that they were a public servants, who would like to help others
regarding in accounting matters.
In my conclusion, these two paths are up to you. They have their own distinct
advantages and disadvantages or as they say it, pros and cons. All I can tell you this
was to evaluate yourself.
Regardless of the career path you choose, you can make the switch. Many
professionals switch between public and private accounting jobs. Sometimes, it takes
working in both paths in order to figure out which you like most and where your best
talents lie.
In general, the examination role that is central to public accounting tends to make this
area much less satisfying as a long-term career for an accountant, but is useful for
obtaining a broad base of experience in the early years of a career. Private accounting
tends to be more satisfying, which can lead to longer-term employment.
Generally speaking, the discipline of public accounting is where most accountants begin
their careers. The examination role that is required tends to make it a less popular
choice for a long-term career. However, it enables you to gain a broad base of
experience in the early years of a career. For longer-term employment, private
accounting is more popular. Overall, public and private accounting are different aspects
of the same field. Both involve the same basic job activities, skills and education. The
differences arise when students join the workforce and begin to apply the knowledge
and skills they have learned. Public accounting offers specialization and the opportunity
for much advancement in exchange for what some would consider higher stress levels.
Private accounting is predictable and offers more flexibility. It is likely that accounting
professionals will work in both the public and private sector over the course of their
career.
VII.Recommendation:
Base on what I have learn regarding this research I would recommend you before you
make a choice on your career path. You should know yourself first, because if you
chose something that you were not comfortable you wouldn’t make it to your highest
peak of your career. Especially when you chose public accounting. Since it was a job
that deals with more deadline and workhours and I think you will be working on a
workplace that you will not be comfortable with, I would recommend you to evaluate
yourself first before making a choice.
Here are some questions that I think will help you on choosing your career:
1. Which accountants will work directly with me?
Ask the firm to identify and provide biographies of the partner, manager and main
accountant who will handle your work. See if those people have received any
complaints from the state board of accountancy or other regulatory authority. If so, the
firm should have taken measures to address the complaints.
I think the best thing I can advice to those who are taking up accounting course was
after evaluating yourself is that you should follow what you think is best for you. Nobody
knows yourself more than you do. Just do it, don’t make decisions base on what others
said or are saying. The world is a though place to be, do what you think will make you
happy. As they say if you don’t want to work find a job that will make you happy.
Goodluck to all Accountants who were reading this.
Source:
https://www.accountingtools.com/articles/what-is-the-difference-between-public-and-
private-accounting.html
https://www.payscale.com/research/PH/Job=Certified_Public_Accountant_(CPA)/Salary
https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2016/12/10-things-to-
ask-before-choosing-accounting-firm.html
https://businesstips.ph/what-is-accounting/
https://www.indeed.com.ph/salaries/Accountant-Salaries
http://www.ble.dole.gov.ph/index.php/cg/36-accountant