Bonsai Tree Tax

A company prepares its own monthly financial statements by using popular accounting software. However, as part of the company’s loan agreement with its bank, the company must provide the bank with annual financial statements that have been compiled by a certified public accountant. (The bank does not require the borrower to incur the expense of a CPA’s review or audit.)

1. You’ll be in-demand
No matter where you live or how the economy is doing, there is going to be a need for accountants.

That’s because governments, businesses and not-for-profit organizations (and sometimes individuals, too) continually need accountants and bookkeepers to manage their budgets, deal with taxes, do financial reporting, complete audits…and the list goes on.

Through good times and bad, accountants help companies of all sizes create strategic plans to maximize success and limit chances of failure. Without accounting it would be very difficult for businesses to analyze their financial performance, which would make it harder for organizations to make smart decisions for the future.

While no field can guarantee anyone a job, the prospects in accounting are excellent and are likely to stay that way.

2. You can make it your own
Accountants work in all kinds of places – you might find them in various departments within local, provincial/territorial and the federal governments; corporate and commercial businesses; charities and not-for-profit organizations; professional associations; or educational institutions.

Accountants can work almost anywhere.
Accountants may actually work full-time within an institution or they may work for multiple clients at the same time (either on their own or as part of an accounting firm). It depends on where the demand is and what your preference is. What’s nice is that there is often enough flexibility for you to shape your career into what you want it to be.

3. Your work matters (a lot)
Accountants have a lot of responsibility.

They usually have a say in major decisions, which means that they not only have a lot of control over a company’s day-to-day operations, but also the business industry in general.

They can be leaders in financial recording and reporting and in planning and analysis. They can help to determine which practices and strategies survive, and which do not.

Often, their vision for the future is the one that gets implemented.

4. You’re an expert
Accountants are trusted. People look to them for advice and for counsel.

They know what they’re doing. They’re respected because they get to see the big picture, and they have the knowledge and experience needed to make sense of it.

Accountants are known for being organized, logical and rational.
We expect them to make sound decisions in the best interests of those they’re working for. They’re smart and they have integrity – and this is why the accounting industry is regarded so highly.

5. You’ll never be bored
This one may surprise you, but the idea that accounting has to be monotonous is a myth!

For many accountants, each day is new and exciting – they never have to worry about things getting dull.

Whether it’s because the accounting industry involves a variety of tasks, or because accountants are often involved in several aspects of a company’s operations, chances are that you won’t get bored working in this profession.

6. You’ll enjoy stability
Accounting offers what many of us start to crave after a spending years living as a struggling student: a dependable career.

In other words, you’ll enjoy stability.

Those who work in accounting generally enjoy the benefits of regular hours, a salary (which will increase over time), benefits, and the ability to plan for the future with a degree of confidence.

7. You’ll have the opportunity to explore
Given that young people are expected to change occupations several times over the course of their careers, working in an industry that presents you with new opportunities is a huge plus.

You could become a business leader, high-level manager or entrepreneur.
From a career in accounting, you could move up within the profession (a vertical shift) – either at your own workplace or a new one – or sideways into something else, like teaching or investing (a horizontal shift).

You could even become a high-level manager or leader (think chief financial officer of a company) or start your own business using what you learned during your time as an accountant.

8. You’ll meet interesting people
Whether they’re clients, coworkers, bosses, mentors or people you meet by chance at a random event, your accounting career will bring you touch in with people from a diverse range of backgrounds.

(That’s where a lot of the potential in your career comes from – think of the networking opportunities!)

The relationships you build throughout your accounting career will play a big part in your personal and professional growth. You’ll have a lot of possible relationships to choose from.

9. You’ll learn constantly
Changes in technology and regulation mean that the accounting industry is constantly evolving.

As a professional within the field, you’ll likely need to stay up-to-date on best practices to be successful.

It’s a great way to work your way to the front of the industry, to become a leader and to get noticed.

10. There’s room to grow
As you’ve probably realized by now, accounting is an important industry that offers all kinds of career options.

Accountants can – and do – work almost anywhere. And because they’re in such high demand, there are plenty of opportunities for advancement.

With a little bit of hard work, a drive to succeed and a passion for your profession, you can reap the many rewards that this field has to offer.

Being your own boss. This might be the first good reason for someone to choose self-employment route to success. Being your own boss would mean you will not have to deal with difficult higher-ups, who dictate and tell you to do everything.
Work from home. If you have some spare room in your home, you can transform the decor into a working space. Working from home means you will not have to worry about being late for work or get stuck in a traffic jam to commute to work everyday. Additionally, self-employment offers you the comfort and flexibility of managing both professional and personal obligations such as taking care of children and family needs.
No more rush hour stress. Commuting to work and being stuck in the traffic for long, ends up consuming your productive man hours while draining you off energies, to get started for the day on a high note. Not to mention all the rush hour stress to reach office on time.
Earn more, spend less. Working for yourself means you can manage your own salary. Even better, your income won’t get reduced by additional expenses, such as travel to work, health insurance, or even gas costs.
Work wherever you want. Being self-employed gives you the privilege of choosing your own workspace. You don’t always have to stay at home. When you want some fresh air, you can work from your favourite cafe, local library, or even in the park.
No more uniform. Say goodbye to uncomfortable business suits and stifling ties. Being able to work wherever you want, allows you the comfort of stepping out in denims and sneakers without being bothered about sticking to a formal dress code. You are only required to dress up in formal professional attire when meeting clients face-to-face. Apart from which, you are free to choose anything you are comfortable donning.
Experience dynamic workflow. Now you can set your own working schedule, which means you don’t have to deal with routine and tedious agenda.
Better work-life balance. If mountains of tasks are piled up, and this prevents you from joining a family gathering? Be rest assured. Self-employment will give you a better work-life balance, as you can manage your own schedule and workload more flexibly.
Choose your own clients. When you are an employee, you are obliged to serve the type of clients/customers you particularly dislike, but those who continue to be patrons of your employer brand. Sometimes you are also required to deal with dissatisfied clients or customers, who tend to burden you with additional responsibilities beyond your job scope. However, when you decide to go self-employed, you can choose your own clients that suit your working style and preferences.
No more drama. Some people find it easier to concentrate in solitude and silence. If you belong to this kind of personality type, then being self-employed is a great alternative. You don’t have to be distracted by co-worker drama or trivial gossips.

Bonsai Tree Tax Inc. is located in Vancouver, BC, Canada. We are registered with a CPA with a public practice license to perform compilation engagements for companies. Compilations allow companies without an accountant to have financial statements prepared by an outside professional without the higher cost of reviewed or audited financial statements. Bonsai Tree Tax has been serving individuals and small businesses since 2009.