Question

Hypothetically, if you were seeking a job as an accountant, and were able to choose any type of company or job specialty, what would that job be and for what type of company/industry. Please explain your reasoning.

Answer 1

Career planning means the deliberate process through which a person becomes aware of the personal skills, interests, knowledge, motivations, and also various other characteristics and by that way establishes action plans to attain specific goals. Since childhood I am good at numbers, and finally when I have grown up I preferred to choose accounting as my career. Accounting tends to be everywhere, from small farmers to big corporations and government organizations, seemingly everyone could use the accountant services. Therefore gives me fair amount of flexibility while choosing where an accountant want to settle down. Moreover in today's scenario it provides a good platform for high earnings potential.

Of all of the managerial accounting topics, I find cost-volume-profit analysis to be most beneficial in my career as a controller. It is technique to measure how changes in cost and sales volume impact the profit of a company. It acts as an effective tool effective tool that also helps me to engage in decision making in regard to the future operations; and also to concentrate on the relationship among cost, revenues, and changes in volume, taxes and profit. Thus the biggest benefit of CVP analysis is the evaluation of the cost volume changes within a company and the impact of these changes on generation of revenue. By analyzing the relationship between revenues and costs it is helpful in selecting the most profitable product. Cost-volume-profit analysis is also an effective tool for controlling the unnecessary production as well as distribution costs. I will choose the hotel industry as it is a booming industry and has wider opportunities of employment in cost-volume-profit analysis.