If you’re interested in a career in the financial sector, accounting is a great field to get into. Accounting careers are always in high-demand and come with a great salary. There are several employment opportunities in accounting, but some positions are more in demand than others. Let’s take a look at the most promising careers in the accounting field.
In order to become an accountant, you must first earn your bachelor’s degree in accounting. A large percentage of your credits will be in accounting-related courses, like income tax, auditing, accounting systems and financial accounting. Business courses are also required and include business statistics, marketing, economics and business law. These courses will provide you with the knowledge you need to accommodate your clients’ needs.
Accountants can be found in brokerage firms, banks, hospitals and insurance companies. They typically find themselves employed by large companies that require the assistance of an in-house accountant to help manage their finances. Accountants may also be hired by the government to work with the FBI, IRS or other government agency.
Some accountants specialize in one particular area. For example, a cost accounting manager may be responsible for calculating the costs associated with manufacturing and selling a product. These costs may include raw materials, overhead and labor. Accountants typically earn between $40,000 and $80,000 per year.
CPA (Certified Public Accountant)
A CPA is a Certified Public Accountant. In order to receive this certification, you must first pass a rigorous exam. Before you can even qualify for the exam, you must obtain 150 college credits for specific business and accounting courses. Most colleges and universities offer accounting programs that will qualify students for the CPA exam.
Even if you pass the exam, most state boards will require that you have at least one year of professional experience before you can become a licensed CPA. After obtaining your license, you must earn continuing education credits in order to maintain it.
CPAs typically work for CPA firms and large companies. Their duties may include performing audits, preparing tax returns, tax planning and reviewing a company’s financial statements. Entry-level CPAs earn between $50,000 and $60,000 per year, while experienced CPAs can earn in excess of $100,000 per year.
A bookkeeping position is a great way to enter the accounting field. This position typically requires nothing more than a two year associate’s degree and experience with industry-standard accounting software.
Bookkeepers may be hired by smaller businesses. Responsibilities may include payroll, billing and managing other basic financial activities. Non-profit organizations, small retailers and small accounting firms may hire a bookkeeper.
The average bookkeeper earns between $18,000 and $40,000 per year. The amount earned will largely depend on the person’s experience and their location.
A career in the accounting field can be both rewarding and fulfilling. The great news is that many positions, such as bookkeeping, allow you to enter the field with relatively little training or experience. From here, you can work your way towards a four-year degree in accounting and obtaining your CPA certification.