Accountancy spans many different roles and for people starting out on this career path the initial challenge is to decide on which qualification to pursue. 

Financial accounting is used to determine the performance of a business over a specific time period and is important for informing business decisions in the long term. The financial accountant will normally work in practice in areas of audit, taxation, corporate recovery, insolvency and consultancy.

Cost and management accounting are tools that enable management to make daily decisions about the business in such areas as demand, supply, competition and logistics.

Accountancy spans many different roles and for people starting out on this career path the initial challenge is to decide on which qualification to pursue. Some qualifications are mainly designed for business degree graduates while others welcome graduates from other disciplines and school leavers.

The bodies which train aspiring accountants are:

* The Institute of Chartered Accountants in Ireland (ICAI)
* The Association of Chartered Certified Accountants (ACCA)
* The Chartered Institute of Management Accountants (CIMA)
* The Institute of Certified Public Accountants in Ireland (CPA)
* The Institute of Accounting Technicians in Ireland (IATI)

Whatever the qualification, the rewards of an accountancy career can be significant, both from remuneration and a job satisfaction perspective.

Says Eamonn Siggins of CPA: "Accountants are strategic business advisers, with a valuable role to play in all aspects of a business. Once accountants pass their final exams they hit the ground running. They are already on the first or second rung of the career ladder."

Like lawyers, there always seems to be work for accountants, no matter how the economy is performing.

According to Kevin Kernan of ACCA Ireland: "In a contracting economy, it is useful to be in a career that is fairly recession proof. Accountancy is not only holding its own but is actually growing. This is due to a number of factors, not least the growth of the financial services sector. Accountants are active across practically every professional sector - practice, industry, financial services and the public sector."

Each accreditation body makes different demands of students in terms of study commitment and in-job training. Some qualifications are more suited than others to working overseas, another issue for prospective accountants to consider. Compared with other professions, accountancy is also democratic, insofar as people can progress from the Leaving Cert into becoming accounting technicians, which provides a platform for moving up the accountancy career ladder.

Jason O'Connor, director of marketing at IATI, believes the breadth of the accounting technician qualification is what makes it attractive to employers. "Accounting technicians are involved in the day-to-day practical work of accountancy, including the preparation of financial information and accounts, and can work on their own or alongside professional accountants."

Whatever route a person decides to embark on, one thing is for certain: career progression and remuneration in business is greatly helped by an accountancy qualification.

According to Fiona Arnold, student recruitment manager for CIMA: "For someone wanting a successful career in business or management, working in finance as an accountant is a great way to progress toward your career goals. Most chief executives come from a finance background and with an accountancy qualification under your belt you've got the skills and experience to take you to the top."

Content courtesy of Business Plus magazine. See www.bizplus.ie