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Accountancy looks more attractive career option than ever

FIX THE BOOKS: Calling all Leo Blooms.The mousy accountant portrayed in "The Producers" may be the poster boy for a booming career in an uncertain economy. Employment of accountants is expected to grow by about 18 percent between 2006 and 2016, faster than the 10 percent growth projection for all occupations, according to the US Bureau of Labour Statistics.

FIX THE BOOKS: Calling all Leo Blooms.

The mousy accountant portrayed in "The Producers" may be the poster boy for a booming career in an uncertain economy. Employment of accountants is expected to grow by about 18 percent between 2006 and 2016, faster than the 10 percent growth projection for all occupations, according to the US Bureau of Labour Statistics.

Jeff Thomson, president of the Institute for Management Accountants, says changing financial regulations and increased accountability will drive growth for management accountants especially, as more than a quarter million new jobs are expected to be added over the next decade.

And for those wary of a career with a drab reputation, Thomson assures accounting often involves a lot more than punching numbers into a calculator.

"Not everyone realises that accounting involves strategic planning for the company, being able to figure out what are the best products, the most profitable products, how to deliver to customers," he said. "It's a lot of budgeting, forecasting and risk management. You're managing the company's accounts, and that involves a lot of major decisions."

Allegations and cases of fraud, misled investors, internal control breakdowns and financial restatements at some companies have heightened the need for qualified accountants.

"Even with more students seeking an opportunity in the field, and young professionals looking for a different career, there still isn't a risk of the job market becoming oversaturated," Thomson said.