It’s nice to be niche in accountancy

Accountancy changes faster than a Hollyoaks storyline: tax codes, new regulations, digitalisation and upgraded technology can all add plot twists to the day-to-day work of financial professionals.

This is also a sector that’s constantly expanding, with many new niches to explore . . . and the good news is becoming a specialist makes you extra-desirable in the job market.

Becoming an ace in a particular area puts you in the enviable position of being the go-to expert and highly sought after. This also benefits your career progression as you can quickly build a reputation that will serve you well in the future.

Possessing niche knowledge also allows you to take on more challenging, rewarding work and better serve clients with specific needs. And what do happy clients make? Happy accountants!

Want to find out more? Let’s start with the legal world.

While you don’t need the pioneering prowess of legal rights champion Amal Clooney, working as an accountant in a law firm does require specialist knowledge of legislative matters.

You may need to get to grips with tricky terminology, rare regulations and corporate conundrums in order to excel. Typical tasks include preparing and maintaining meticulous financial records, providing up-to-speed advice to legal professionals and liaising with third-party organisations concerned with financial affairs.

Given the sensitivity of legal work, discretion, reliability and trust are all essential. Yes, mum’s the word at all times . . . unless, of course, it’s HMRC calling!

If law’s not your bag but you have an interest in humanitarian issues, working as an accountant in the charity and not-for-profit sector can be a fantastic choice.

Tracking donations using specific software and establishing transparent fund-accounting systems are two of your responsibilities. You’ll also help your chosen charity to operate within the limits of tight budgets and have books that must always stand up to close scrutiny by the public, patrons and donors.

An in-depth knowledge of IT and financial software packages used in the charity sector is essential, as is a passion for the ethos of the organisation. After all, there seems little personal reward in working for a canine rescue centre if you’re a cat person.

While on the subject of human’s best friends, in the business world we often hear the phrase ‘dog eat dog’. But, thanks to another band of specialist accountants, not all transactions are so antagonistic.

When one company buys another or two decide to join forces, this not only involves legal teams but specialists in mergers and acquisitions. Find a role here and you’ll have not only a strong accounting background but an intimate grasp of business practices and legislation.

Finally, we enter the world of Forensic Accountants. Responsible for investigating discrepancies and disputes, everyone from governments to insurance firms rely on you to ensure transparency, honesty and culpability. As well as having strong analytical skills, Forensic Accountants are adept at carrying out in-depth research and presenting your findings.

If you are inspired to look for a specialist role in the diverse world search now  for all Accountancy vacancies.

Posted on December 4, 2019