Get To Know About Public and Private Accountancy Firms
Accounting is a very promising domain that offers lot of job opportunities and a bright future. After you finish college, you have to make a major decision that is the kind of firm you would like to work in. You can either work in a public or in a private accounting firm.
Public accounting is the most popular and preferred field for many college students to enter. Public accounting is the accounting work that a company performs for another company whereas private accounting is the accounting work that is done for your own company. Public accountancy firms offer handsome salaries, great experience, and a better chance for advancement. The knowledge and experience you receive at public accounting firms is a great resume enhancer and highly respected by employers. If you have experience in working in a public accounting firm, then even with less experience, you can get a more qualified job elsewhere. Working for a public accounting firm gives employees the opportunity to advance and grow in their career. If you check the other side of the coin, then there are disadvantages of public accounting that includes long hours, hard work, and a lot of stress especially during tax season!
The accounting field also offers the chance to be a part of private accounting firm. Private accountancy firms give many opportunities to experience different career paths. Some of the disadvantages of private accounting include less pay, less networking, and less experience.
There are different accounting firms such as PricewaterhouseCoopers, Deloitte and Touche, KPMG, and Ernst & Young that offer better growth and more exposure. On the other hand, the advantages of working in small accountancy firms include more hands on experience and a more personalized setting.
Both private accountancy firms and public accountancy firms have their own advantages and disadvantages. You can choose the company that you feel is right for you.