The aspirants who want to start an Accounting Career in Pakistan can get all information from here. Accountancy is a highly sought-after career nowadays. On a daily basis, many accounting jobs may be found in publications. A variety of accounting courses and accounting degree programmes are available at a variety of schools and universities. Accountants in Pakistan might begin their careers as trainee accountants in any business. Accounting careers may be launched in two areas: financial accounting and cost and management accounting.
By earning a CA (Chartered Accountancy) degree, you can get certified by the Institutes of Chartered Accountants of Pakistan (ICAP). The Institute of Cost & Management Accountants of Pakistan is the finest institution for you if you are interested in cost and management accounting.
A career in accounting necessitates strong analytical skills, a love of manipulating numbers and balance sheets, and a passion for working completely behind the scenes. Accounting businesses in Pakistan offer options for accounting graduates to begin a career as a trainee accountant immediately after graduation.
Scope of Accounting in Pakistan
In Pakistan, accounting is in great demand and has a broad range of applications. In Pakistan, daily newspapers commonly feature job listings for accounting positions. Graduate accounting programmes are available at several colleges and institutions. Today, a large number of non-academic institutions provide online bookkeeping degree programmes.
There are several career options available for accountants in Pakistan nowadays. After graduation, Pakistani accounting firms let accounting graduates to start working as trainee accountants. Financial accounting, cost accounting, and management accounting are good places to start your accounting career. You can get certified by the Institutes of Chartered Accountants of Pakistan (ICAP) by earning a C.A. (Chartered Accountancy) degree. The Institute of Cost & Management Accountants of Pakistan is the ideal institution if you are interested in cost and management accounting.
Accounting Career in Pakistan
Banks are hiring more accountants at a rapid rate. So it’s important to enter the race as soon as you can. Maintaining contact with new chances and building connections that will advance your career are essential. In Pakistan nowadays, there are several profession options for bookkeepers.
People who want to work from home or at their place of employment may start outsourcing bookkeeping because there are regions of the world where these jobs are available. One-year, two-year, and final certifications in accounting specialisation are offered by ICMAP. As previously said, taking accountancy classes at a university is a definite way to have a successful profession. In the financial and commercial communities, these programmes are highly respected.
Accounting Career Opportunities in Pakistan
Particularly, those who have completed accounting courses have access to a variety of employment options. They consist of, but are not limited to, the following:
- Cash Manager
- Chief Executive Officer
- Chief Financial Officers
- Corporate Controllers
- Credit Manager& Specialists
- Financial Managers or Financial Analysts
- Financial Advisers
- Financial Planners
- Accounting Managers
- Accounts Officer
- Admin Executive
- Admin Manager
- Assistant Accountant
- Assistant Director Admin
- Audit Officer
- Bank Manager
- Branch Manager
- Business Analysts
- Business Development Officers
- Loan Officers
- Investment Bankers
- Management Consultants
- Management Trainee Officer
- Production Manager
- Project Manager
- Purchasing Manager
- Recruitment Consultant
- Risk & Insurance Manager
- Trainee Business Officer
- Treasure & Finance Officers
Accounting Career in Pakistan | Scope and Job Opportunities
Importance of Accounting
- Decision Making
For the organization’s internal users, accounting is essential. People who plan, manage, and operate the business might be considered internal users. Making important judgements needs the management team to use accounting. These choices might be as straightforward as determining whether to seek regional growth in order to improve operational efficiency.
- Business Transaction Records
Accounting is crucial because it keeps a systematic record of a company’s financial information. Users can compare recent financial data to earlier data using current records. It can analyse a company’s performance over time using consistent, thorough, and accurate records.
- Legal Requirements
Correctly applied accounting procedures aid organisations in providing accurate financial reporting of assets and liabilities. The declared gross revenue and net profit of a corporation are determined by standard accounting financial statements, which are used by tax authorities including the U.S. Internal Revenue Service (IRS) and the Canada Revenue Agency (CRA). Accounting systems aid in ensuring that a company’s financial statements are presented in a legal and accurate manner.
- Results Analysis
Accounting is a tool used to convey corporate outcomes to various users. The key external users of accounting information are investors, lenders, and other lenders. Shares of a company may be bought by investors, and lenders must weigh the risks involved in making a loan decision. Businesses must establish confidence with their clients by providing reliable and accurate accounting information.
Specialization in Accounting
Accounting students have a wide range of options on where to concentrate their efforts. The roles of bookkeeper accounting, audit, financial tax, internal audit, accounting manager, etc., are all available to the accountant. in Pakistani national and international accounting firms. Among the many occupations available are:
- Tax planning
- Tax preparation
- Managerial accounting
- Cost accounting
- Accounting for the government
- Auditing Jobs
- International accounting
- Tax on partnerships and corporations
- Accounting and Banking Jobs in Karachi, Islamabad, and Lahore
- Bookkeeping Jobs
- Budget analysts
- Appraisers, adjusters, investigators, examiners, and adjusters
- Cost estimators
- Financial analysts
- Financial managers
- Insurance sales agents
- Underwriters of insurance
- The loan officers
- Personal financial advisors
- Purchase managers, buyers, and purchasing agents
- Commodities, securities, and financial service sales representatives
- Collectors, tax examiners, and revenue agents
Types of Accounting Degree in Pakistan
(Associate, Undergraduate & Graduate Programs in Accounting)
- I.Com (Intermediate Commerce)
- B.Com (bachelor of Commerce)
- M.Com (Master of Commerce)
- C.A (Chartered Accountancy)
- ACCA (Association of Certified Chartered Accountant)
- CIMA (Chartered Institute of Management Accountants)
- MBA in Accounting
I.Com (Intermediate Commerce)
Your knowledge of the accounting discipline will be taught to you similarly by your friend’s diploma or intermediate Commerce in Pakistan in accounting or marketing.
B.Com (Bachelor of Commerce)
A bachelor’s degree, or B.Com, frequently leads to employment in businesses, private accounting firms, or corporations. After two years at colleges or universities, one may get a bachelor’s degree.
C.A. (Chartered Accountancy)
The field of chartered accounting is lucrative, and there are many outstanding job opportunities in audit firms, local corporations, global corporations, and domestic and international banks. In accounting firms, students begin as trainee accountants.
ACCA (an affiliation of certified Chartered Accountants)
One of the largest and fastest-growing accounting organisations worldwide is the British chartered accounting body, ACCA. With many college students enrolling each year in ACCA programmes, it has significantly increased over the past five years.
CIMA (Chartered Institute of Management Accountants)
The Chartered Institute of Management Accountants (CIMA) is a professional organisation with a basis in the United Kingdom that provides instruction and certification in management accounting and related fields.
Salary In Accounting Fields
At the management level, the starting pay in Pakistan is expected to range between Rs. 45,000 and Rs. 60,000. While the rest, who have just finished their undergraduate studies as new candidates, might get a beginning wage of between Rs. 30, 000 and Rs. 45, 000 each month. While the compensation package gradually grows with time. Additionally, the beginning wage is influenced by the prestige of the department, firm, or university where you earned your degree.
Best Institute for Accounting
The following are a few of Pakistan’s top accounting and finance institutions:
- Government College University, Lahore
- University of Punjab
- Beaconhouse National University
- Lahore University of Management Sciences (LUMS)
- National University of Sciences and Technology (NUST)
- Institute of Business Administration (IBA)
- University of Karachi
- FAST National University of Computer & Emerging Sciences
- Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology
- University of Sindh