Accounting can represent a fulfilling and challenging career that often offers an above-average salary, consistent employment, and plenty of opportunities to specialize or advance within the profession.
What Does an Accountant Do?
Generally speaking, accountants help individuals and organizations to make smart, informed decisions regarding their money and manage their financial records. Their duties and responsibilities may include evaluating risk, preparing financial reports and statements, and ensuring compliance and accuracy in record keeping. Advising executives on financial decisions, presenting reports to stakeholders, discussing tax returns with their clients, and helping to develop organizational budgets may also fall with an accountant’s remit.
Beginning a Career in Accounting
For those thinking about pursuing a career in accountancy it’s important to first consider several questions, including which sector the person wants to work in (such as private, public, or financial services), the areas of accounting most of interest, and the qualifications required for the desired accounting role.
The first stage on the career journey is usually obtaining a relevant bachelor’s degree, which is typically a minimum requirement for most entry-level accounting positions. The individual will also need to decide whether they wish to become an accountant or CPA (certified public accountant) – take a look at the embedded PDF for more information about CPAs and the difference between CPAs and accountants.
Many of those in the accountancy profession choose to become skilled in a specialty, such as business valuation, tax accounting, government finance, auditing, international accounting, environmental accounting, and non-profit accounting.
Licensed CPAs like Paul Simonson understand that the field of accountancy is a competitive one. Due to this, those wishing to pursue a career in this profession may wish to earn a master’s degree in accounting to stand out from other accountants and boost their employability and salary expectations. Individuals may also want to consider obtaining accountancy certification to enhance both their credibility and skill set.
Accounting Jobs: Demands and Trends
Currently, in the United States, demand for accountants remains steady, and there are no signs of this slowing down. The need for skilled accounting professionals able to interpret and manage financial information is likely to grow as businesses nationwide continue to expand and regulations become more complex.
Data from the Bureau of Labor Statistics (BLS) suggests there will be a rise in the employment of auditors and accountants in the coming years, largely attributable to the ongoing evolution of the financial landscape, which requires the expertise of accountants to navigate.