What Does a Career in Accounting Look LIke?

Accountants work in a stable field with high earning potential.

Accountants are responsible for maintaining and analyzing financial records for companies, government agencies, and other organizations. Given the demands of the job, accountants must be analytical and detail-oriented. According to the Bureau of Labor Statistics (BLS), accountants earned a median annual salary of $71,550 in 2019.

Individuals with educational backgrounds and ample professional experience can pursue careers within subsets of the field, like forensic accounting, public accounting, and auditing.

What Do Accountants Do?

Accountants prepare financial records to ensure accuracy. While keeping records up to date, they ensure that financial transactions and operations adhere to applicable laws and guidelines. Accountants also compute taxes and confirm their client, company, or organization pays them on time.

Within companies, accountants work with executives and managers, often providing advice on how to minimize costs, boost revenue, and increase profits. They may supervise accounting clerks and staff as well.

To become an accountant, individuals need at least a bachelor's degree. A career in public accounting necessitates certification through the American Institute of CPAs (AICPA). The AICPA administers the Universal CPA Examination®, a four-part assessment of accounting knowledge and skills. CPAs work with small companies and large corporations alike.

Accounting professionals can also pursue a certification in management accounting. A certified management accountant (CMA) focuses on financial planning, strategic decision-making, and financial management for private companies.

Featured Online Accounting Programs

Where Do Accountants Work?

Many accountants work full time in office settings. They can also work from home, especially if they work freelance, providing services to individual clients rather than a single company or corporation. Accountants may work as part of a team, but they are just as likely to work independently.

The accounting, tax preparation, bookkeeping, and payroll services industry employs the highest number of accountants and auditors in the United States. Finance and insurance companies and government bodies also employ accountants. The industries that pay the most for this profession include transportation, the federal government, and information services.

Skills

Generally analytical and organized, accountants can benefit from a strong attention to detail. This helps them assess financial activities, finding solutions to problems that arise. They also offer advice about ways to reduce costs and increase revenue, which requires well-honed reasoning skills.

Accountants also need strong written and verbal communication skills, which help them prepare reports and explain financial concepts. Accountants can work on their own or as part of a team, often using specialty software or technology.

Continued education hones an accountant's soft and hard skills. By expanding business competencies, accounting professionals can learn to strategize and lead. Specialized coursework can prepare accountants for niche fields. For example, forensic accounting trains accountants to assess financial records with an eye toward potential criminal activity.

Career Information

According to the BLS, accountants earned annual median salaries above $71,000 in 2019. The BLS also projects job growth between 2019 and 2029. PayScale reports that major cities on the East and West coasts offer accountant salary rates well above the national average.

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Why Become an Accountant?

Accountants can find employment in almost any industry. They work for independent financial and accounting firms, within government agencies, and as full-time professionals in businesses of various sizes. Accountants can also thrive as entrepreneurs or work in the nonprofit sector.

Accountants enjoy analyzing data and solving problems while working with numbers. They must work well independently and as part of a group. They offer guidance to clients and organizations about financial decisions while ensuring the integrity of financial records and activities.

A major responsibility for accountants is tax preparation and submission — an annual requirement in the United States. For accountants, tax season is the busiest time of the year. Identifying deductions and investment opportunities to help clients get the most out of their tax returns is a major service that accountants can provide.

Accounting Programs and Degree Levels

How to Get Hired

To enter the accounting profession, you first need an accounting degree. While enrolled in an undergraduate accounting program, learners can complete an internship to gain practical experience and demonstrate competency to potential employers. When applying for an accountant job, employers look for candidates with work experience and proficiency in software programs applicable to a role in accounting.

To become a CPA, individuals need at least 150 credits of college coursework. Most bachelor's degrees only include 120 credits, so a master's degree is ideal for learners preparing for the CPA exam. A master's degree in accounting also offers advanced coursework that gives students an opportunity to explore niche specialties like international, forensic, and managerial accounting.

Frequently Asked Questions

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