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Accounting specializations you should consider

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Written by Guest Contributor

Accounting doesn’t have to be the bland job that many people think it is. After all, numbers run the world. With the right emphasis, your background in accounting can allow you to help people save for retirement. You can also aid businesses who are hoping to reduce their carbon footprint, or even work for sports teams that are trying to set ticket prices and make salary decisions. Let’s look at some accounting specializations that you should consider for a career.

Personal Financial Counting

Personal financial counting is a rewarding way to apply your skills for good. Personal Financial accountants help people pay for big moments in their life. Weddings, vacations, holidays, even sending children off to college.

Responsibilities might include helping clients make a budget and even recommending the right combination of stocks and bonds to help them make the most of their money in the long term. Personal financial accounts are well-positioned to go off on their own and start their own practice.

Forensic Accounting

Forensic accountants are the Poirot of the accounting world. They investigate financial crimes, following paper trials on their quest to find evidence of crimes like embezzlement or fraud. People operating in this profession often have training in the legal profession. Not only do they need to be able to understand financial law, but they also need to be able to present their findings in an intelligible way to both law enforcement and people sitting on a jury.

While forensic accountants work in an ostensibly legal capacity, they do not necessarily need to be employed by a law enforcement agency. Insurance companies and other businesses may also employ forensic accountants to help keep track of their books and avoid issues.

Environmental Accountants

Environmental accountants are very much a product of the moment we are currently in. Their specialty is to consult businesses on the costs associated with going green. This can mean a wide range of things, including what expenses come from cleaning up an oil spill, to even factoring in the costs associated with environmental-related protests.

Their jobs are not necessarily to encourage businesses to make environmentally friendly decisions. They break down costs and businesses usually make the choice that will save them the most money.

However, environmental accountants tend to be symptomatic of businesses that are pivoting toward green solutions. To date, many thousands of companies in the fossil fuel industry are employing environmental accountants.

Tax Accountants

Though not the most exciting line item on our list, tax accounts with a healthy practice can make a good living and enjoy steady work while maintaining their own independent practices. Contrary to popular belief, their services are not limited only to tax season either.

Many businesses have ongoing tax-related needs that require the assistance of an accountant to sort out. You may not solve crimes or help mother earth, but you will make a dependable living working in a role everyone finds themselves needing at one point or another.

Sports Accounting

As the name suggests, sports accountants focus their talents on professional athletics. Sports franchises may employ accountants to formulate player salaries and other expenses that pertain to operating the brand.

Their work can impact everything from ticket prices, to merchandising decisions. Sporting accountants can even help determine where teams locate. When big franchises move they usually opt for large metropolitan areas that can support them. Meanwhile, franchises may place their minor league teams in smaller areas to fill gaps in service and enjoy a potentially eager fan base.

About the Author:
Andrew Deen has been a consultant for startups and Fortune 500 companies in almost every industry from retail to medical devices and everything in between. He implements lean methodology and is currently writing a book about scaling up businesses.

About the author

Guest Contributor