A career in accounting is enticing, rewarding, and very lucrative. It draws ambitious young people with a knack for accounting and finance as well as the ability to understand and process intricate financial concepts and data quickly. Pursuing a career as an accountant can give one of the best returns on investment. 

Accounting and finance are often confusing to many students. If you also have a plan to study business accounting, you must possess an in-depth understanding of both domains before moving forward with the application. 

Accounting versus finance has been a cause for debate for many years. While accounting and finance have many similarities, they have significant differences too. When comparing the two, accounting focuses on managing financial reports across the business domain, while finance is all about managing money and projecting future growth. Accounting students focus more on professional principles used to manage numbers instead of influencing them.

This blog will delve into the overview of business accounting and how becoming an accountant in Canada can benefit you.

Business Accounting: An Overview

Business accounting systematically records, maintains, analyzes, reports, interprets, and presents financial information. Accountants work for individuals, small business firms, and multinational companies. In essence, accounting is all about keeping track of business operations. The syllabus of business accounting is tailor-made to provide students with the knowledge and skills to succeed in financial and managerial accounting roles.

Benefits of becoming an accountant in Canada

Canada is a great place to work as an accountant. Plus, Canada’s Toronto is one of the largest financial centers in the nation. Let’s discover how Canada is beneficial for accountants in the blog ahead.

  • Plenty of job opportunities

Canada has a robust economy. The nation is home to several largest accounting firms, such as Kinden Accounting & Advisory, Deloitte Canada LLP, KPMG, PricewaterhouseCoopers (PwC), and Ernst & Young. These accounting services firms provide audit, transaction advisory, taxation, consulting, risk advisory, and actuarial services to clients worldwide. Thus, there are plenty of high-paid job opportunities for accountants in Canada.

  • Competitive pay range

As accountants are in high demand in Canadian accounting firms to ensure that all financial transactions are entered correctly into the general ledger and maintain accurate financial statements, an accountant can expect handsome salary packages. According to PayScale, the average national salary of accountants in Canada is CAD 53,302 per year. The wage of accountants in Canada generally ranges between CAD 38,000 and CAD 85,000 per year.

  • Growing demand

Canada hubs several large companies. The bigger the organization, the more critical the accountant becomes to record and maintain financial information. According to the Canadian Occupational Projections System, employment for financial auditors and accountants is expected to expand by 2028. It has been projected that there will be around 79,600 vacancies for 79,500 new job seekers in the next five years.

That’s not all. Canada offers excellent networking opportunities with like-minded people. So, improve your chances of landing a well-paying accountant job in a top accounting services firm by signing up for a business accounting course at a leading Canadian institute. Apply now!