Accountants are responsible for keeping track of an organization’s financial records. Their reports are used by the company’s managers and also by people outside the company. They prepare, analyze and verify financial documents in order to provide information to clients. Managers can learn about the performance of their company by looking at the accountant’s reports. The government also uses their reports to know how much tax a company should pay. The public’s decision to enter a business relationship with a company depends on the reports prepared by accountants.
There are four kinds of accountants: public accountants, management accountants, government accountants and internal auditors.
Public accountants are responsible for accounting, auditing, tax and consulting work.
Management accountants keep track of the money made and spent by companies.
Government accountants make sure that government accounting records are correct, and check the records of people doing business with the government.
Internal auditors ensure that a company's accounting records are in order. They also check the records for cases of fraud.
Accountants Schools and Degrees
Accountants generally have a bachelor’s degree in accounting. Some employers prefer accountants who have a master's degree in business or accounting. Certifications also help advance the careers of accountants. Any accountant filing a report with the Securities and Exchange Commission is required by law to be a Certified Public Accountant.
All states use the four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants. The Institute of Management Accountants confers the Certified Management Accountant designation to applicants who complete a bachelor’s degree or who attain a minimum score on specified graduate school entrance exams.
Job Requirements
The majority of employers look for accountants who are competent with computers. Accountants should be good at math and have good analytical skills. They also should possess good writing skills, which are necessary for preparing detailed reports. Since financial decisions are made on the basis of their statements and services, accountants should have high standards of integrity.
Nature of Work
Rapidly developing technology is changing the nature of most accountant work. Accountants act as personal advisors, providing clients with accounting and tax help, helping them develop personal budgets, managing assets and investments, planning for retirement and recognizing and reducing their exposure to risks.
Mostly, accountants work in a typical office setting. They are primarily employed by public accounting firms and government agencies. They may have to travel frequently to perform audits at branches, clients’ businesses or government facilities. Most accountants work a standard 40-hour week, but self-employed accountants may work longer hours, particularly if they have numerous clients. Also, tax specialists often work long hours during the tax season.
Accountants Jobs and Outlook
According to research in 2007, accountants held about 1,115,010 jobs in the U.S. Employment in this field is expected to grow by 18 percent over the next ten years. Those who have a CPA should have excellent job prospects. Employment is highest in the following industries:
Accounting, Tax Preparation, Bookkeeping, and Payroll Services
Depository Credit Intermediation
Local Government
Management of Companies and Enterprises
State Government
The mean hourly wage for accountants in the US is about $30.37, while the mean annual wages are around $63,180.
Job Numbers and Growth
The official count of accountants in 2008 was 1,274,000. Workers have recently faced a very low level of unemployment. The unemployment rate for employees? About 2% recently.
Area Job Conditions
You'll see a lot of accountants in Tallahassee (Florida), Santa Fe (New Mexico), and Bridgeport (Connecticut), and comparatively fewer in Warner Robins (Georgia), Jacksonville (North Carolina), and Hot Springs (Arkansas).
Wages for Workers are highest in San Jose (California), Bethesda (Maryland), and New York (New York), and lowest in Fort Smith (Arkansas), Hot Springs (Arkansas), and Lawton (Oklahoma).
Training and Education
Employees normally have a bachelor's degree before landing a job. Degrees are held by 79% of current accountants. Post-secondary schooling was enough for 17% of workers. Education topped out at high school for 4% of employees. Recommended schools are shown in the column to the right; request information from them to help you decide which if any could help you with this career.
Part-Time Work and Self-Employment
Part-time work suffices for 9% of accountants. Workers working on their own make up 10% of the total.
Accountants by Metropolitan Area (city and its surroundings)
In the table below, a Job Density near 0% means the area has an average number of people in this occupation, for its population. A higher or lower Job Density (e.g., +22% or -45%) tells you there are that many more or fewer workers of that type there than in the average US metro area. So, the higher the number, the more common the occupation.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.
Schools recommended for people interested in this career. Request info with quick online forms. These particular schools are noted for getting back to people fast.