Perks of Being an Accountant
Majoring in accounting can open many doors for
your future. Students entering the accounting field has grown in the
past couple years. So why do people become accountants and why are
accountants so successful? Accounting firms are looking for young
accounting majors, they are recruiting and offering scholarships and
signing bonuses to college graduates. Josee Rose from the Wall Street
Journal said that “According to the National Association of Colleges
and Employer’s 2008 job-outlook survey, accounting is the No. 1
bachelor’s degree in demand by employers.” Even with the economy in its
place right now there is still demand for new accountants.
Accounting is considered the language of business
and accounting shows how businesses are doing and what needs help.
There are many different positions that an accountant can hold. They
can become a public accountant, who provide auditing, tax, accounting
and consulting services to businesses and individuals, public
accountants can be in a firm or by working for themselves. Areas in
public accounting include auditing which is the most important function
of being a CPA, a large percentage of time in firms is spent auditing.
Accounting and review services consist of maintaining accounting
records to performing compilation. CPA firms do numerous of the taxes
for many companies and individual clients. They prepare and review tax
returns, tax planning and tax litigation. CPAs also do management
services; which consists of consulting or management advisory services.
This can include computer systems, management information systems,
marketing, executive recruiting, personal financial planning, and
budgeting techniques. There are so many jobs within accounting and so
many different options for accounting majors.
Accountants can also be private industry
accountants. In private accounting you work for one company and learn
and work for that company only. They prepare all the financial
information and budgets for that company. Accountants can also receive
the Certificate in Management Accounting; all though it is not required
it is respected and gives you high credentials. There is the Certified
Internal Auditor which includes a 14 hour exam. Also you can go into
government and non-for-profit accounting; government accountants
monitor the appropriation of funds and awarding of contracts to private
agencies that must follow governmental regulations.
Accounting can include a regular day at the office
or it can be traveling to different companies to audit or even seven
day weeks. Duties of an accountant can include, analyzing company
budget, expenses and revenue, overseeing bookkeeping and payroll,
figuring company benefits, auditing, managing bank accounts and
investments, preparing profit and loss statements, compiling and
analyzing financial information, explaining billing invoices and
accounting policies, and supervising the input and handling of
financial data and reports. Since accounting information is very time
sensitive it needs to be processed in a timely fashion. Accountants may
work by themselves or in groups. Accounting is constantly changing due
to technology, recently accounting was all computerized and now is
easier to understand and report.
Accounting and Finance professionals are taking a
more prominent role in driving the direction of business practices of
the companies and facilities they work for. They are increasingly being
viewed as business partners. They are needed to analyze the conversions
of their company's technologies, establish practices that will increase
cost efficiency and point managers in the direction of making decisions
that will enhance profits and reduce losses.
The CPA title is the biggest credential for
accounting professionals, having a CPA accreditation is a common
prerequisite for positions. Companies are looking for professionals
with experience and are familiar with general accounting principles
like general ledger, account reconciliation, financial statement
preparation and financial analysis. Also having knowledge about new
technologies and knowing how to work new programs is the key to getting
hired.. Managers are looking everywhere for qualified individuals for
the right job. These managers are also trying to find the perfect match
for their company and are investing a lot into the hiring process.
Accounting trends have recently changed
dramatically with the computerization of accounting techniques.
Accountants now need to be able to work with and understand new
computer programs and new ways of doing their work within the
practices. Firms need accounting professionals who can understand both
the financial and information technology aspects of different business
improvement initiatives. The new changes have brought more attention to
staffing and experience shortages making companies step up their hiring
efforts and recruiting the best of the best. More colleges are starting
to react to this need for professionals in certain fields like
accounting, and are opening more classes to accommodate these students.
The market needs are driving the courses on college campuses all over
the nation.
The growth in this field is increasing at a huge
rate and becoming more and more competitive. Even though the economy is
suffering right now there are still positions open for new accountants.
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