Accountancy: 10 advantages and disadvantages

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Think of it like buying a new car: some people want reliability and safety, while others want performance and speed. Neither option is inherently good or bad, but each vehicle is a better choice for different types of people.

How you feel about a career in accounting depends on your personality, work style and life priorities. You can make an informed decision once you understand the possible advantages and disadvantages of a career in accounting.

So, is a career in accountancy right for you? Take a look at the pros and cons of accounting careers to help you decide.

Benlfices

Advantages of a career as an accountant

There are many reasons to enjoy a career in accountancy. Find out what benefits you can expect from this profession.

1. There is a clear career path

If you study accountancy, you’ll learn the practical, well-defined skills that employers need for a specific set of roles, ranging from legal, social and tax expertise.

This gives you a much clearer career path compared to someone who chooses to study art or philosophy where the potential career outcomes are both more open and more random.

If you choose to study accountancy, you’ll have a pretty good idea of where your career will take you. Although there are different types of accountants in this field, the tasks you’ll have and the skills you’ll use will generally be the same, which means you know what you’re getting into when you start these studies.

2. It’s a stable and fast-growing area of employment

Accountancy is a lifelong profession. Virtually every business needs an accountant or the services of an external accountancy firm, including small businesses, which still have reasons to hire an accountant from time to time.

As long as people need help with taxes and businesses exist, there will be a need for accountants.

3. This career path offers strong income potential

Although money isn’t the only thing that matters in life, it’s still an important factor to consider. Like everyone else, you want a career that allows you to support yourself and your family.

The median annual salary for accountants in 2022 was €38,000. While there’s certainly no guarantee that you’ll rise to a management position, it’s clear that employers value the technical financial knowledge required of accountancy professionals.

4. you can work wherever you want

Where would you like to live? In the north of France, or in the south? In a big city or a small town? In a mountain range or by the ocean?

With some career fields, you may have to uproot your life and move to an industrial hub to stand a chance of finding work. Although opportunities naturally tend to be concentrated in large urban centres, there is always a need for accountancy professionals elsewhere.

From farmers to government organisations to software development companies, everyone needs the services of an accountant. This gives accountants a great deal of flexibility when it comes to choosing where to set up their business.

5. There are opportunities to help others

While accountancy may not be the first profession that springs to mind for people who thrive on helping others, the role still has its moments that can bring great satisfaction to those in need.

Helping individuals and businesses better manage their financial situation so that they can then navigate the next steps with confidence is a great feeling – who doesn’t like being a trusted expert?

6. There is entrepreneurial potential

The dream of being your own boss is alive and well in the accountancy profession. If you have a bit of that entrepreneurial spirit, setting up an accountancy practice could be a great way to progress in your career.

Starting an accountancy practice, like starting any business, comes with risks and may not be for everyone, but it’s nice to have that as an option.

Threats

Disadvantages of a career in accountancy

As with all jobs, accountancy has its share of disadvantages. Discover the 4 least attractive factors of this profession so you can decide whether it’s the right solution.

1. Potential requirements for continuous updating

Although completing an accountancy programme provides a solid foundation on which to build a career, the field is not set in stone. From major revisions to minor changes, the laws and regulations that influence your work as an accountant are likely to change.

To be successful in your career, you’ll need to plan to incorporate some form of continuous updating of your knowledge to keep up with these changes and adapt to them.

2. Work can seem boring

How many world-class accountants do you know? If you’re having trouble finding one, there’s a reason: accountancy isn’t generally considered a glamorous field, not least because it’s a profession that’s all about numbers, data and balance sheets.

But recognition and glamour aren’t everything.

The day-to-day work involves a lot of investigation and mathematics, which can be boring for some but interesting for others.

This is one of those questions where you’ll have to look inside yourself and answer honestly with what you think might work with your temperament and personality. Knowing more about what accountants do on a daily basis will help you determine whether or not the job appeals to you.

3. Adapting to seasonal variations

Accounting is generally a standard 9 to 5 job, except at certain times of the year with very tight deadlines. For most tax accountants, the bulk of the work starts after New Year’s Day and lasts until 15 April.

During the peak season, long days and weekend work become the norm as accountants struggle to get their clients’ finances in order. But on the plus side, things slow down considerably after this period. In this way, accounting careers offer some variety in the annual calendar.

4. Work can be stressful

When you’re responsible for an organisation’s finances, there’s bound to be a certain amount of pressure. This pressure and stress can have an impact on your overall mental health and should be taken into consideration.

These negative experiences have a lot to do with where an accountant works, the sector they work in and the specifics of their roles. It’s a safe bet that the more important your position and the more money you work with, the more pressure you’ll be under at work.

But this pressure leads to higher levels of stress, depending on your personality.

Try to make an honest assessment of your attitude to pressure and heavy workloads. If you don’t stress easily or worry about being a little nervous, you may not mind working as an accountant. If you know that you get frazzled easily, it’s possible that a career in accountancy isn’t the right choice for you.

Opportunities

So is accountancy a good career choice for you?

Now that you have a better understanding of the pros and cons of a career in accounting, take some time to assess whether this is the field for you.

If the advantages outweigh the disadvantages, you may want to take a closer look at how to prepare for a job in this field.

Would you like to become an accountant? The finance specialisation enables you to obtain a diploma and become an accountant, at the end of a comprehensive and rewarding course. With INSEEC, you have the opportunity to take part in continuous training with assignments supervised by professional trainers, and with a sandwich course that allows you to apply your lessons in a host company where you use the tools specific to this activity.

Register in just a few clicks to start your accountancy training at one of our campuses!