Careers in Accounting

Accounting is a very diverse career field. It continues to rank among the top chosen career paths in many universities. As one of the most successful careers in the business field, accounting has recently thrived on a continually growing demand. If need for education and skill are met, the result is a rewarding and enjoyable work experience. Accounting is the financial information system that provides insights into how organizations are funtioning financially. There is a need for accountants in every type of busniness whether it be for profit or a non-profit organization. The growing need for accountants coupled with the attractive salaries that they earn makes accounting my future career choice.

Within the field of accounting there are several different speicalized areas that one can choose to pursue. Public accountants and internal auditors are two fields that I am considering in my future career. Public accountants work for public accounting companies. Their major tasks are to do the actual accounting, tax and consultancy work. Accountants use financial statements to show in monetary terms the resources under direct control of the organization. Internal auditors are also known as Auditors, Fraud Investigators, Inspectors, and Investigators among other names. They frequently measure the level of compliance of the company with its policies and objectives. They advise the management on how to better execute their policies. They tend to improve the reliability of financial reporting, preventing and investigating fraud and safeguard company assets. I have a love of numbers and am very detail oriented. I think going into auditing will involve problem solving and keep me in love with my job. The Accounting market is rising.

Accounting is a growing career path. According to statistics on the bls.gov website, the employment of accountants and auditors is expected to grow 16 percent from 2010 to 2020, about as fast as the average for all occupations. There has been an increased focus on accounting in response to corporate scandals and recent financial crises. Stricter laws and regulations, particularly in the financial sector, will likely increase the demand for accounting services as organizations seek to comply with new standards. Additionally, tighter lending standards are expected to increase the importance of audits, as this is a key way for organizations to demonstrate their creditworthiness. I can see the need for accountants far into the future and think this is a pretty secure path to choose when entering the workforce today.

The statitsics on the growth rate of careers in accounting coupled along with the fact that the median salary of accountants is near $70,000/year makes accounting an attractive field to enter into. The salaries of accountants can range from about $35,000/yr up to approximately $115,000/yr. The amount of money that you ear as an accountant will be highly dependant on the qualifications you hold as well as the size of company that you are employed by. Most job vacancies require at least a bachelors degree in accounting or related field. If you want to practice accounting and auditing in government, the requirement is 4 years of college in accounting or auditing with some experience. The more experienced of an accountant you are, the better salary you will be able to earn. There are also certain certifications that will earn you a higher salery in accounting such as a CPA certification.

Majoring in accounting comes with many sought after values. The demand for accoutning in the workforce, the variety of fields you can specialize in and the rates of compensation make accounting a very attractive field of study among colleges and a top choice in career paths. Over the last two decades, the field of accounting has been changing dramatically in response to such explosive trends as the computer revolution, increased government regulations, frequent tax law changes, the globalization of business, and the on-going downsizing and restructuring of corporations. In this increasingly complex and competitive business environment, accounting skills are very much in demand and accounting has become a dynamic career.

References

Occupational Employment Statistics. (April 1, 2014). May 2013 National Industry-Specific Occupational Employment and Wage Estimates NAICS 541200 – Accounting, Tax Preparation, Bookkeeping, and Payroll Services. Retrieved from http://data.bls.gov/search/query/resultscx=013738036195919377644%3A6ih0hfrgl50&q=accounting+careers.

Dalton, D. W., Buchheit, S., & McMillan, J. J. (2014). Audit and Tax Career Paths in Public Accounting: An Analysis of Student and Professional Perceptions. Accounting Horizons, 28(2), 213-231. doi:10.2308/acch-50665

Swain, M. R., & Olsen, K. (2012). From Student to Accounting Professional: A Longitudinal Study of the Filtering Process. Issues In Accounting Education, 27(1), 17-52. doi:10.2308/iace-50076

Bagley, P. L., Dalton, D., & Ortegren, M. (2012). The Factors that Affect Accountants’ Decisions to Seek Careers with Big 4 versus Non-Big 4 Accounting Firms. Accounting Horizons, 26(2), 239-264. doi:10.2308/acch-50123