Priceless Insight for Accountants: Reporting on Sustainability and Carbon Accounting
In today’s economy it never hurts to diversify professional skills. Even in a stable, growing field like accounting, seeking further credentials may increase earning potential and open up new and exciting niches. One interesting area for accountants to explore is in the area of carbon accounting and sustainable reporting. As a result of this ever expanding business concern, opportunities continue to arise.
With the growing demand for professionals who understand the importance of triple bottom line reporting, comes an opportunity to assist business owners in setting and meeting goals related to sustainable business practices. Compiling the reports necessary to document and track green business practices has become a popular niche for savvy accountants.
Small business owners and other organizations that invest in green technologies, buy energy efficient products, or donate to local community organizations need to know that the accountant handling the details of their finances understands the implications of these involvements. Executives want to be sure that accountants handling their finances also completely understand any incentives, tax implications, and other related regulations surrounding green business practices.
If there are no accountants in your firm with the carbon accounting and sustainable reporting credential, it is possible that adding those services to the firm’s repertoire may help leverage a salary increase, provide increased professional exposure, or help you to deliver services to a wider client base. For executives offering such training to employees, the staff can offer additional services and the executive will be able to write off the training expense, thus making it a win-win situation for everyone involved.
As corporations steadily move toward more social and environmental responsibility and consumers continue to demand more “green” business partnerships, accountants are needed to keep track of the carbon dioxide equivalents expelled into the atmosphere by a company, especially as carbon taxes continue to increase. With the ubiquitous application of social media to promote triple bottom line performance, many corporations use such data to market their environmental responsibility and blog about green performance standards.
For accountants with an entrepreneurial mindset, there is also opportunity to infuse accounting skills with technological ingenuity. This creates a niche which helps to build standards of accounting practices and reporting formats that specifically address the marketing and reporting needs of businesses interested in creating a high profile for their environmental track record.
Preparing and processing the financial data related to sustainable business practices is a skill any reputable accountant can possess. However, preparing the data in innovative ways that show and highlight specific company performance goals and underscore environmental commitments is an important extension of services that may separate one accountant in this area from another.
As businesses look for unique ways to set them apart from other companies also attempting to reduce a carbon footprint, financial and managerial accountants are needed to support and complement these efforts. An accountant with the most current skills needed to assist businesses across industry in becoming more socially responsible and environmentally accountable provides a hot set of skills to help these companies ride a deeply entrenched global business trend. With international markets expanding, this is one credential that may literally take you anywhere in the world.
Winning employment is made easier having the CPA credential. Though accountants alone can apply to fill this position, it is highly unlikely that an accountant non-CPA would beat out a CPA credential holder. Thus becoming a CPA holds substantial value and is priceless due to its clout. Needless to say, that as an accountant, salary potential rises dramatically as a result of having an accounting degree, the CPA credential, and sustainable reporting experience in carbon accounting. The key though is passing the Uniform CPA Exam.