The purpose of cost accounting is to help people understand the costs of running a business. While some business costs always remain the same, others can vary, rising and falling with the volume of work. This job responsibility often falls under that of an accountant.
Who can I work for?
As an accountant you can work for either a large or small company, or for yourself instead. Working for yourself is a good decision once you have built up your own client base.
Where and when can I work?
Most accountants generally work office hours from 9am to 5.30pm. However, there is often a need to work overtime, so you will need to have a flexible approach. If you work for yourself, you may find yourself working a lot more.
What can I earn?
Salary depends on experience and qualifications. Accountants can earn £42,000 two years after qualification, with this increasing to £70,000 if working in London. This is of course significantly less if the majority of the job role requires you to concentrate only on cost accounting.
What are the benefits?
Within this role you can earn a salary that is above average, while working in a job role that is unlikely to ever be affected by a struggling economy.
Are there chances of promotion?
You can work your way up to a variety of different accountancy roles. Many companies are in favour of promoting their staff, allowing you to earn more as a result.
What will I be responsible for?
Responsibilities can vary, such as being required to only look after costs, or for you to have the responsibilities all accountants have, including managing junior and trainee accountants.
Do I need any experience?
A degree in maths will stand you in good stead, as will a degree in accountancy, business or finance. However, you can still become an accountant or work in an accountancy role without a degree, providing you have a relevant qualification. Some firms are also willing to train people up in-house.
What attributes are needed?
You need to be good with figures, have great attention to detail, be patient and be willing to put the hours in.