Good news for certified accountants and finance professionals: among all the different sectors downsizing after the economic crisis still hovering over, accounting and finance isn’t one of them. In fact, the demand is stronger than ever in the international job market.  In Australia, there is an increasing demand for accounting professionals as the Australian business industry remains robust. In fact, the issues that surfaced in compliance and governance “have given accounting’s back office function and image a more significant role in the corporate continuum”, says CareerSite CEO Chris Le Coic (“More demand”, 2009).  In the UAE, leading recruitment firm Robert Half is looking not just for accountants, but also professionals in the banking and technology sector. Other countries searching for accounting and finance professionals are Canada and the U.S. particularly Chicago, which stress the stronger need for individuals who are adept in this field in order to provide a stronger backbone for business organizations in times of economic strain.

Today, with the Philippines ranking 30th in the list of countries least affected by the latest economic recession, we need not worry about having a shortage of capable accountants. In fact,  we currently have the highest number of accounting professionals in Asia (“Know”, n.d.). Going back a bit in time, the formalization of accounting as a profession can be owed to the American influence during their colonial period in the country. The need for accounting in the Philippines dates back to the 1920’s- 1930’s, when a number of American businesses were established. The maintenance of these businesses created the need for accountancy and financial management. The Accountancy Act 1923 then created the Board of Accountancy, who was authorized to issue the Certified Public Accountant certificate or now more commonly known as CPA.  Six years after, the PICPA or Philippine Institute of Certified Public Accountants was established within the private sector to represent professional interests (as cited in Tas-Anvaripour & Reid, 2002, p.30).

Now that we’ve established the role of accounting as a profession, what bearing does it have on non-accountants? It might not exactly be rocket science but at the same time, not everyone is willing to deal with all the figures and jargon involved in accounting. On the other hand, there is a number of other professions and individuals who would benefit from knowing the basics.  While it might not always seem necessary to undergo any formal training, it certainly helps for various business-related activities they might encounter.

Entrepreneurs Accounting Academy offers a seminar on Accounting particularly for Non-Accountants. This caters to small to medium business owners, managers, bookkeepers and professionals working in the business industry who want a good understanding of business transactions, financial reports and the ability to utilize this information productively. Sign up for Accounting for Non-Accountants to have a better understanding and interpretation of accounting reports, and be able to assist in making effective business decisions.

References:

http://www.hrleader.net.au/articles/20/0c04c520.asp

http://www.conventas.com/offshoreBPO24.html)

http://www.adb.org/Documents/Books/Diagnostic_Study_Accounting_Auditing/PHI/chap_02.pdf