Monday, August 20, 2018

4 Reasons Accounting Skills can help you in Public Administration.

October 6, 2017 by  
Filed under Business, Education, Opinion, Weekly Columns

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( Knowledge of accounting can prove to be extremely important in a civil servant trusted to create and execute plans that can impact the lives of thousands. While a degree in accounting is not considered mandatory to serve as a public administrator, possessing one will certainly give the newly recruited civil servant a head start on mastering their many duties. Here are some of the reasons why knowledge of accounting can be an advantage for a public administrator.

1. Understanding Financial Health of Agencies

A crucial part of the public administrator’s job is directly related to studying and analyzing financial reports of various schemes that have been created for the benefit of the citizens. When the public administrator makes suggestions about improvements and modifications, it is based on the data available on the goals and targets of the plan. Being able to comprehend and methodically examine the budget and performance reports of various agencies helps the administrator deliver more efficient results. This edge over students of social sciences encourages many students of accounting to pursue an online masters in public administration.

2. Allocating Funds Towards Future and Existing Schemes

Yet another important skill in a public administrator is the ability to objectively determine the merits and needs of different departments and organizations. The administrator is often in the unenviable position of needing to distribute the government’s limited funds and resources among the many deserving organizations tasked with areas of public service. In these situations, the public administrator’s grasp of accounting theories helps in making clear-eyed decisions based on an objective analysis of the companies or agencies that will make the best use of a fresh injection of capital.

3. Executing and Overseeing Plans

This analytical approach to a public administrator’s work makes it easier for civil servants to carry out their duties of supervising and monitoring the execution of various public schemes. The administrator is tasked with coordinating between agencies and teams to ensure the smooth running of operations. They are often faced with time-sensitive decisions regarding the functioning of departments under their care, and it’s the public administrator’s familiarity of accounting that helps simplify the choices into a question of maximizing impact and minimizing capital loss.

4. Conducting Performance Audits

Chief among a public administrator’s duties is the evaluation of an agency’s utilization of resources. A public administrator has the power to increase or cut funding for certain projects, terminate ineffective programs, and determine the need for investment in new technology for better implementation of the government’s schemes. A trained student of accounting is better prepared to face these difficult decisions because of the analytical nature of the field. This is why it makes sense for more accounting students to look into online MPA programs and choose to become a public administrator.

Interestingly, many government departments regularly hire Certified Public Accountants to carry out their audits for them. Therefore, accounting knowledge in a public administrator is naturally valued and perfectly suits the meticulous, analytical path of the profession. Though the duties and obligations of a public administrator vary widely according to the department or region they are posted in, it usually requires a keen mind for analyzing data and a passion for public service, making it an ideal career path for students with a logical mind and an interest in administrative services.

Staff Writer; Ronald Wood

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