This guide provides detailed information about the project accountant career. It highlights the educational requirements and certifications you need to have to become a project accountant, as well as the various career opportunities you can explore, and tips to advance and be successful in your project accountant career.
Who is a Project Accountant?
A project accountant is someone who works in the accounting department of a company or other organization that provides services to others.
They are responsible for managing all aspects of a project from the beginning to the end.
The responsibilities of a project accountant vary, depending on the size of the project.
A project accountant typically works closely with clients throughout the entire process of a project.
He/she is also responsible for ensuring that everything goes smoothly during the project.
Why Choose Project Accountant Career?
The project accountant career has many benefits for those who are interested in this field.
Here are some of the reasons you can choose to become a project accountant:
- The job offers good pay.
- You get to work with numbers all day long.
- The available jobs are massive and are of different types.
- If you have a degree in accounting, it’s easy to find a job as a project accountant.
- This career is flexible.
- As a project accountant, you can work anywhere there are computers.
Project Accountant Educational Requirements
To become a project accountant, you must first earn your Bachelor’s degree in Accounting.
After earning your degree, you may want to take an additional course on computer applications.
Some companies also require their employees to pass certain tests before they are allowed to start working.
In addition to these requirements, you should have at least two years of experience in any type of business.
Project Accountant Continuing Education
You can continue your education as a project accountant by taking courses online. To do so, you must first register with a college or university.
Once you have registered, you can search for classes offered by your school.
You can also look up online schools that offer accredited programs relating to your field.
Most colleges and universities offer continuing education through distance learning.
They usually charge lower fees than the traditional physical classroom based institutions.
Project Accountant Certification/License
To show employers that you are qualified to perform the duties of a project accountant, you need to obtain relevant certifications.
Certifications are often required from project accountants who work in very specialized areas.
It is also important to get certified so that you can have an edge over other candidates when competing for a job position.
In the area of license to work as a project accountant, licenses are issued by state governments.
Licensing helps protect consumers and businesses.
If you are applying for a license to practice in a state as a project accountant, you may be required to complete certain training programs and pass a test.
Project Accountant Career Opportunities
Here are some of the careers or job positions you can access with a project accounting background:
- Accountant
Accountants prepare financial statements and provide advice to clients. They also keep track of transactions between customers and suppliers.
2. Auditor
Auditors review financial records and make sure that companies are following proper procedures. Auditors are commonly hired by government agencies to investigate fraud and corruption.
3. Financial Controller
Financial controllers have the responsibility of overseeing the finances of a company.
They ensure company funds are being spent properly and all expenses are accounted for.
4. Financial Analyst
Financial analysts use spreadsheets and databases to analyze information about a company’s performance.
They determine how well a company will do financially and what steps need to be taken to improve its situation.
5. Tax Preparer
Tax preparers are professionals that help individuals file their taxes. They gather information from taxpayers and calculate their tax liability.
Others job titles that you can access with a project accountant background include:
- Business Manager
- Bookkeeper
- Cost Accountant
- Computer Programmer
- Finance Director
How to Advance your Project Accountant Career
There are many ways to advance your career as a project accountant, here are some:
- Become a Certified Public Accountant (CPA)
You can become a certified public accountant by taking and passing a series of exams.
The CPA exam covers topics, such as accounting principles, auditing, and taxation. It takes several months to prepare for and take this exam.
2. Earn an MBA
Having a Master’s degree in business administration, MBA can help you to develop management skills and improve on your business practices.
If you earn an MBA, it could increase your chances of becoming a manager at a large corporation.
3. Get a Master’s Degree in Accounting
A Master’s degree is a postgraduate degree. It may focus on one subject, like accounting, or it may cover multiple subjects. Your choice depends on which areas interest you the most.
4. Find a Job That Fits your Skills
If you are looking for a job in accounting, try applying to positions where you already have some experience.
For example, you may find jobs in bookkeeping, payroll processing, or accounts payable.
You can also look into jobs with smaller organizations, which usually don’t require employees to hold a Bachelor’s degree.
5. Work for a Big Company
If you want to work for a big organization, then you may consider picking your first job with a large firm instead of starting out at a small company.
However, many people choose to start off at a small company because they want to learn about the industry first.
This can be helpful because having good knowledge and experience of the industry can give you an advantage over other candidates when you later decide to work for a large corporation.
How to find a Good School for Project Accountant Education
If you are looking for a good school to get the right education to become a project accountant, then you should take time to research different schools before deciding on which one to enroll in.
Here are ways to find a good school for project accountant training:
- Accreditation
Ensure the school you are considering is accredited by relevant organizations.
Accrediting bodies like the AACSB International recognize only certain schools as meeting the standards for accounting education. To get accreditation, schools must meet strict requirements.
2. Reputation
You may also look into the reputation of the school you are considering to enroll in. Ask friends and family members for recommendations on good schools for project accounting training.
Also, ask alumni of the school whether they were satisfied with their education there.
3. Location
You may also consider the location of the school in taking the decision on where to study to become a project accountant.
Is the location of the school close to home? Does the campus offer easy access to public transportation?
These are questions whose answers may guide your decision on which school to choose.
4. Tuition Costs
The cost of attending college can be expensive. You may look into financial aid options available through scholarships and grants. You might qualify for federal loans, too.
5. Faculty
You can inquire from faculty members at the school how long they’ve been teaching there.
Are they well respected by students?
Do they publish papers in professional journals?
The answers you get to these questions will help you decide which school to go for, especially if the quality of staff of the faculty is important to you.
How to be Successful in your Project Accountant Career
There are many steps you can take to succeed in your career as a project accountant. Some of these include:
- Be proactive
Individuals who are proactive in what they do make the best project accountants. They are always thinking ahead and preparing for what to come next.
2. Become familiar with the field
Learn more about the accounting profession so you know what you’re getting yourself into.
3. Learn new things
Take classes outside of your major. These classes will help you grow as a person and prepare you for future careers.
4. Stay current
Keep up-to-date with changes in technology and business practices. This will help improve your work performance and rating in the industry.
5. Network
To be successful in your project accountant career, it is important to be part of a network of groups within your community and industry.
This will help you learn from your professional colleagues and gain valuable connections.
So, ensure to attend events hosted by professionals in your field.
Qualities of a Good Project Accountant
Here are some qualities of a good project accountant that you can develop:
- Knowledge
As a project accountant, you need to have knowledge of various areas of business, including finance, contracts, and human resources.
2. Communication skills
Communication is key in any job. In fact, it’s one of the most important qualities of a successful project accountant.
Your communication skills should be strong enough to ensure that clients understand exactly what you want them to do.
3. Problem solving skills
The ability to solve problems is another quality of a great project accountant.
If something unexpected happens, you need to think quickly and come up with solutions.
4. Leadership abilities
Leadership is an essential skill for anyone who wants to advance in his or her career. Being able to lead others to achieving result is crucial in the role of a project accountant.
5. Flexibility
Flexibility is necessary in any job. However, being flexible is even more important in a project accountant’s job because he or she must be able to adapt to different situations quickly.
Project Accountant Job Outlook
According to the Bureau of Labor Statistics, BLS, accounting occupations in general are predicted to grow by 6% from 2018 to 2028, indicating a bright future for project accountants.
Conclusion
The project accountant career offers good pay and work flexibility, as well as opportunity to advance into bigger job positions in the accounting field.
If you are interested in becoming a project accountant, then this post has provided a guide to lead you through the educational requirements you need to meet.
It has also provided other information to help you advance and achieve success in your career.
