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A List of 5 Reasons Why Accounting Is a Hot Industry

Updated on September 10, 2013

What is an Industry?

Any industry is a noun that is a particular branch of organized activity involved with the production, manufacture, and or construction of largely scaled commercial goods or services within an economy. Synonyms include manufacturing, business, commerce, trading, and engineering. The widespread economic activity, commercialized or standardized, within any industry for goods and services is what make the world operate and employs millions of workers all over the world. Certain industries are better than others, with more positive qualities. Some of the hottest industries available for stable and almost immediate employment are:

  • Health Care
  • Sales
  • Customer Service
  • Accounting

Those hot industries are continuing to remain stable and even increase, in spite of financial and economic challenges. The amount of jobs and training that is available within those industries are the highest and many people strive to gain a career within those particular industries only for many different beneficial rewards.

Which Industry Is Right For You?

5 Reasons Why Accounting is a Hot Industry

The accounting industry is a professional service industry that provides accounting services combined with tax services to individuals, families, and businesses. Financial and managerial accounting is the process of preparing, maintaining, and communicating financial information for the use by managers, investors, and even by banks or lenders. Personal accounting involves tax planning, retirement, and or investment planning for individuals and for families. The accounting industry is growing and remains steady because of the needs and demands. The accounting industry is a hot industry and great for a person to gain employment in for many different reasons.

Out of all of the hot industries to choose from, accounting is the hottest mainly because of the variety, growth, and diversity it can provide. Accounting is also a different industry because it is involves math skills, problem solving skills, along with high levels of accuracy and professionalism. Many people think accounting is boring, but really it is very exciting and is set apart from other industries by the five reasons listed below.

1. The Consistent Need and Demand for Accounting.

There will always be a consistent and stable need and demand for accounting, and for accountants to perform the processes, as long as goods and services are being purchased with a payment transaction, either cash, debit, or credit. Accounting was first established during 7500 BC, by cultures and civilizations accounting for their tokens, agriculture, and any thing used for the payment to purchase goods and services. Now certain accounting is required by the Internal Revenue Service from every person and business at least once per year, known as taxes that must be paid. The need and demand for both accounting and accountants remains steady and is even increasing for certified accountants.

2. An Increasing Annual $alary Amount.

The accounting industry offers an increasing annual salary amount which is due to promotions, longevity, and seniority that is gained. The salary amount for an entry level accountant does start on the low side, but increases over time. The increasing annual salary amount increases noticeably after 1 - 4 years of experience have been accomplished. There are many different benefits that an increasing annual salary amount has and accounting is the best way to get there.

More Experience = Higher $alary

3. Accounting is a Gateway to Success.

Accounting can be the foundation for increased success, which is a gateway to other opportunities. Many famous people have started with a career in accounting, some certified and some were not, but eventually branched out and become more successful than before. The accounting industry is a great way to meet many different people professionally, which is a great way to increase any one's future success.

4. Advanced Growth Opportunities.

The accounting industry is filled with advanced growth opportunities which can also lead up to a higher annual salary as mentioned previously. Some of the growth opportunities within the accounting industry include senior accountant and specialized corporate accounting departments. The growth opportunities that the accounting industry can provide to a career include my next reason.

5. A Wide Variety of Jobs to Choose From.

There is a wide variety of jobs to choose from in the accounting industry. These jobs include accounting departments for corporations and becoming a certified accountant. A professional accounting certificate means that a person is certified to perform accounting and tax duties for business as well as for individuals and families. Once certified, there is much more variety to choose from, like seasonal or based on discretion jobs.

*Famous Accountants

  • Phil Knight: the chairman to several Fortune 55 companies, including Nike, is a CPA.
  • Kevin Kennedy: the former Texas Rangers manager and CPA processed his player's tax returns for some extra cash while managing the minor leagues.
  • J.P. Morgan: this accounting graduate got his first job as a junior accountant on Wall Street, only to have founded his own company five years later known as 'J.P. Morgan Chase.'

What Do You Think About Accounting?

Do you think accounting is necessary?

See results

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    • Cristale profile image
      Author

      Cristale 3 years ago from Florida

      Thank you for reading this hub. Thanks for leaving the comment.

    • profile image

      TDS GURU 3 years ago from INDIA

      So far I never thought that Accounting can be said to be Industry and that too to be Hot. However after reading this article.....i feel changed and convinced. Thanks. VINOD @ http://tdsguru.com

    • Cristale profile image
      Author

      Cristale 4 years ago from Florida

      Thank you for reading.

    • accountingnerd profile image

      Jay 4 years ago from Michigan, USA

      Thanks for posting, I think accounting jobs are here to stay. I never knew that JP Morgan was an accountant out of college, pretty cool!

    • Cristale profile image
      Author

      Cristale 4 years ago from Florida

      Thanks for reading. Accounting is not dissolving any time soon!

    • Cristale profile image
      Author

      Cristale 4 years ago from Florida

      Accounting is here to stay and will never fade away! Thanks for reading.

    • hobbywriter profile image

      hobbywriter 4 years ago from California

      Great reading! I am a practicing CPA with 20+ years experience and I agree with you! Seen some minor ups and downs but nothing as in other industries!

    • Cristale profile image
      Author

      Cristale 4 years ago from Florida

      Throughout all of the changes that may occur in the future, accounting will always be here to stay!

    • accountingnerd profile image

      Jay 4 years ago from Michigan, USA

      I agree with your points. Also, with all of the regulations, that seem to keep on growing, accountants are needed to meet help accompanies abide by these. Also with IFRS coming, big changes in financial reporting will follow.

    • cheetah786 profile image

      cheetah786 4 years ago

      accountant jobs are always in high demand.. accounting and auditing profession is highly standardized and subject to sophisticated laws than any other as it involve the protection of public interest.

    • Cristale profile image
      Author

      Cristale 5 years ago from Florida

      Thank you for reading!

    • Mhatter99 profile image

      Martin Kloess 5 years ago from San Francisco

      Thank you for sharing valuable insight with us