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Featured Career:
Accounting

Accounting is one of the important gears the keeps American business going.  Every industry needs accountants as a daily part of business to help in a variety of financial areas.  There are many different types of accountants including public (CPA), private, management and government accountants.  In 2002 there were approximately 1.1 million accountants employed in the United States. One out of five accounting professionals work for public firms and nearly one in ten are self-employed.  This article gives an overview of accounting careers.

Accountant Job Description
Accountants are dedicated to ensuring that the businesses and organizations they work for run efficiently. They do this by offering a growing variety of business and accounting services to each of their clients.

Job duties of accountants vary greatly among the industry, however general tasks all accountants undertake include:

  • Making revenue forecasts
  • Performing general financial analysis
  • Developing client budgets
  • Analyzing financial data
  • Evaluating degree of financial risk
  • Writing administrative procedures
  • Appraising property and equipment

Other responsibilities accountants have include keeping accurate public records, making sure taxes are paid properly and providing both internal and external auditing services for their clients. Because of technological advances, special accounting software packages have been developed. These various software packages enable accountants to keep, format and organize records, manage data and maintain auditing systems quickly and easily. Some examples include Quickbooks, MS Excel, Lotus and Peachtree accounting software.

Salary Ranges / Job Outlook for Accounting
The pay range for accountants varies from industry to industry and depends upon factors like skill, experience and location. In 2002, the median pay rate for accountants was $47,000 in the United States. The low end of this scale earned approximately $30,320 and the high end of this scale earned nearly $82,730. According to a survey conducted in 2003 by the National Association of Colleges and Employers, accountants with a bachelor's degree earned an average starting salary of $40,647 each year and those with a master's degree were offered an average starting salary of about $42,241 each year. Along with an annual salary, experienced accountants may receive bonuses based on accuracy of financial predictions.

During the next decade, openings for accounting are expected to grow at a steady pace. Predictions from Nationwide trends propose that job positions are likely to rise nineteen percent by the year 2012. This suggests that there will be approximately 40,470 job openings for accountants in the United States each year.

This steady job growth is due to an increase in the number of businesses, changing financial laws and regulations and an increasing analysis of company finances. One effect of the accounting scandals of the late 90's is an increased focus on the accuracy of companies' finances.  Governmental and industry regulation has increased the number of accountants being hired.  Additionally, as the economy grows, the number of businesses and organizations will expand and require more accountants to set up their books, prepare taxes and provide financial management advice. While these businesses continue to grow, the quantity and complexity of information involving costs, expenditures and taxes will also increase. This business growth will require experienced accountants and will cause job positions to expand further.

Accountants are needed in virtually every business and organization throughout the world. The demand for experienced and competitive accountants is rising each year. A career in accounting is a great choice for people with great management and mathematical skills and for people who enjoy always expanding and fast paced jobs.

Education / Getting Started in Accounting
Although some businesses look for accountants with a master's degree, careers in accounting often requires nothing more than a bachelor's degree in accounting or other related fields.  Educational courses that help develop accounting skills include mathematics, business administration, communications and computer systems. Firms look for candidates with good analytical and interpretational skills.  Computer skills and written and verbal communication skills are also a must.

Employers often seek accountants with a CPA certification.  CPA certification is not required in all states but will greatly enhance business opportunities and advancement.  It is a way to certify that an accountant exerts professional competence in a specialized field of accounting.

Experience is also a very important part of what an employer looks for in a prospective employee.  Some colleges offer their students summer and part time internship programs through public accounting or business firms.  Many accountants begin working as cost accountants or junior internal auditors.  The best way to gain experience, however, is through assisting an experienced accountant with several clients.