Anyone looking to know what is the Accounting major in Saudi Arabia 2023 must first know what is accounting? Accounting is the recording of financial operations related to business,
and economic events are recorded in a comprehensive and orderly manner.
Accounting includes summarizing and analyzing those financial operations.
Accounting major in Saudi Arabia 2023
This article includes everything related to accounting specialization in Saudi Arabia and has been prepared by the CFOONLINE team, the accredited financial office in Saudi Arabia,
which consists of experts and specialists in financial accounting and they are ready to provide any kind of financial advice in various fields. To visit the home page: click here
Accounting major
What is the specialty of accounting?
The accounting major is classified as one of the oldest fields concerned with financial matters, and it fundamentally aims to improve the performance of companies and institutions in the future.
In this article, we will study the development of the accounting profession in Saudi Arabia 2023 and its development in the Arab countries in general.
In general, accounting can be defined as the language of money and trade, which includes broad operations including:
Classification, recording, posting, summarizing, writing, arranging and organizing financial operations, and all of these operations are conducted in a way that users can understand,
whether they are internal or external users, with the aim of helping them with decisions related to the company.
Why did you choose the accounting major?
The accounting major is not limited to young men only, as it is a wide field and girls can work in it, but before studying it,
we must ask ourselves why I chose this particular major and what I can get an employment opportunity when I graduate from it in order to help you answer it.
In the event that you study accounting and obtain the status of a certified public accountant, you can advance in your career by taking a leadership or managerial position,
obtaining more job opportunities, and obtaining greater job security.
How do you specialize in accounting?
The accounting major is one of the best administrative specializations and has many advantages. Which makes it the desired specialty and the one with the largest demand among the specializations
Accounting jobs
Accounting jobs in Saudi Arabia 2023 First, you must know:
What are the functions of accounting major?
The following Accounting jobs will be available in the labor market for students who hold a bachelor’s degree in accounting in Saudi Arabia 2023:
1. Account Manager 2. Auditing accounts
3. Banks 4. Insurance companies
5. The Ministry of Finance 6. Income tax departments
7. Small, medium and large companies 8. Preparing budgets, financial reports, and accounting statements such as income tax.
9. Offices of chartered accountants 10. The banking sector
11. Accountant General
Information about accounting for girls
Girls can work in accounting as long as they have the skills that allow them to work in this field.
When a question is asked whether the financial accounting major has a future for girls, the answer comes, of course,
as it is wide and the demand for it is high in the labor market, in addition to that there are companies that require female accountants only in Accounting jobs, of course it has a future for girls.
Accounting jobs for women
In general, Accounting jobs that are available to young men are the same that are available to women, as women can obtain the following jobs:
- Work as a chartered accountant.
- The possibility of working as a financial accountant in companies or banks.
- Forensic accountant.
- Work as a stockbroker
- A graduate of the accounting department can also work as a secretary in a company or bank.
- Work in insurance affairs as an expert.
- data analysis.
- Working as a management consultant.
- Work as a tax advisor.
- financial planning
- Budget analysis.
- Developing accounting programs.
- Work as a personal financial advisor.
- Work as a private payroll accountant in companies or banks.
- The possibility of working as an accounts assistant.
- In addition to his ability to work as a credit control assistant.
- Contracting accountant.
Accounting jobs in banks
The bank accountant is responsible for following up the movement of bank balances for the factory, cashing the factory’s checks, dealings with banks, preparing reports and financial statements for bank balances,
and following up all bank transactions to and from the factory.
In our article, we mentioned the accounting major in Saudi Arabia 2023 Accounting jobs major, and now we will mention Accounting salaries
Accounting salaries
What is the salary for accounting major?
According to the Bureau of Labor Statistics , the average annual salary for an accounting degree position is $71,000.
Accounting major salaries in Saudi Arabia 2023
Accounting major salaries in Saudi Arabia 2023 vary according to the type of job and positions, and we will explain them in detail.
A bachelor’s degree in accounting is often considered one of the best degrees to invest in. Common accounting careers that students may choose after graduation include:
1. Accounting Manager
An accounting manager earns an average salary of $129,000.
2. Forensic accountant
A forensic accountant earns an average annual salary of $70,000.
3. Certified Public Accountant
A certified public accountant makes an average income of $74,000.
4. Management accountant
A management accountant makes an average annual salary of $71,000.
5. Accounting Analyst
The average annual salary for an accounting analyst is $81,000.
6. Staff accountant
A staff accountant makes an average income of $44,000.
7. Accounting clerk
The average annual salary of an accounting clerk is about $41,000.
If you earn or plan to pursue an education in accounting and do not want to become an accountant, there are many other jobs for accounting majors in Saudi Arabia.
Read also: The most important 7 differences between books and accounting records
Other jobs that a holder of an accounting degree can obtain in Saudi Arabia and Arab countries
Below are some examples of alternative career paths an individual with an accounting degree can pursue.
1. Chief Financial Officer
The average annual salary for a financial officer is $184,000.
2. The accounting expert
The annual income that an actuary usually makes is $108,000.
3. Personal financial advisor
Personal financial advisors make an average annual income of $87,000.
4. Financial Analyst
Financial analysts earn a median annual salary of $81,000.
5. Financial auditor
Financial examiners earn an average salary of $81,000 each year.
6. Budget Analyst
The average budget analyst salary is $76,000.
7. Business consultant
The average budget analyst salary is $76,000.
There are many factors that affect the amount of salary for an accountant
Factors affecting accountant salary
Accounting major in Saudi Arabia 2023 There are a group of factors that affect the accountant’s salary, which are:
1. Education
The type of degree you obtain, level of education (Bachelor’s vs. Master’s) and even the university you attend will all have an impact on salary expectations. in accounting .
Not only will a master’s degree help increase your salary, but it will also prepare you to take industry exams to earn important credentials such as CPA (Certified Public Accountant).
2. The type of certificate
Earning a certification in your area of expertise will immediately boost your earning potential, while CPA is the most common credential for accountants it is not the only option.
Obtaining a CFA (Certified Financial Analyst), EA (Registered Agent), CIA (Certified Internal Auditor), or other professional certifications can help increase your salary as an accountant.
3. Experience
Years of experience play an important role in determining the positions you are qualified for and the salaries these roles require, for example:
According to EMSI, over the past five years, jobs posted for accountants with 0-3 years of experience averaged $60,000 in salary,
4-7 years of experience averaged $70,000 in salary and an average of 7- 10 years of experience, 104.3 thousand dollars in salary.
4. Functional responsibilities
With increased job responsibilities comes increased salaries. As you progress into roles that include tasks such as managing others, strategic planning, and budgeting, you can expect to earn more.
5. Geographical location
The cost of living in your area has a significant impact on salaries. This can vary from city to city, and also from state to state.
For example: job postings for accountants with a master’s degree in California, with the second highest cost of living in the United States, averaged $87.3k in salary over the past five years.
In our article on the accounting major in Saudi Arabia 2023, the following question must be answered:
Is accounting major required in Saudi Arabia?
Due to the current commercial trend in the Kingdom of Saudi Arabia and the Arab Gulf countries and the presence of all these emerging companies in various fields.
There is no doubt that accounting specialization at the present time has become more desired by companies in various sectors.
All fields need financial regulation in order to continue and succeed. Therefore, accounting specialization is required and greatly in Saudi Arabia and the rest of the Arab countries.
Related articles: Ready-made financial statement templates All you need to know about financial statements
Is accounting major required in 2030?
All public and private companies are available for the individual to Accounting jobs, and with a master’s degree and a doctorate in financial sciences, you will have more career opportunities with higher positions.
And due to the existence of a diversity in commercial and financial economic activities, there are thousands of opportunities for Accounting jobs in the field of accounting, i.e.
the accounting major will not die or disappear in 2030, and on the contrary, the demand for it is growing, so the accounting major in Saudi Arabia has reached 2023.
The accounting major in Saudi Arabia 2023 and the Arab countries have been explained in detail. In this article, we have mentioned the accounting major,
the jobs that can be obtained for young men and women, and the factors that will increase the salary and average salaries for accountants according to the type of job and the degree of certification obtained by the accountant.
We at CFOONLINE, the accredited financial office in Saudi Arabia, will provide any assistance you need in the financial field, services and consultations, whether by calling or in the office at any time. We are ready
Related articles: About studying accounting, universities, existing materials, and languages in Saudi Arabia and all Arab countries from the link: click here
In conclusion, we hope that our article on Accounting in Saudi Arabia 2023 will be sufficient to answer your questions.
Sources: en.wikipedia
