Accounting is a conservative career with good employment prospects.
Accountants keep business financial records, pay their taxes on time, analyze and report on financial data and prepare budgets and other financial management tools. They work in the public, government, management and internally for business. Accountants have analytical roles in business, reporting to and consulting with management on financial issues. They must demonstrate competency and proficiency in their profession through higher education, professional certification and ongoing training and education. Entry-level staff accountants' salaries are dependent upon education, experience and specialty.
Employment Outlook
Experts predict job opportunities for accountants and auditors to be favorable and grow by 22 percent in the ten years between 2008 and 2018, according to the United States Department of Labor Bureau of Labor Statistics. Business factors such as changing financial, tax and corporate governance laws and the need to protect business growth and success drive job growth for accountants. Accountants with professional certifications, advanced education such as master's degrees and training and experience with accounting software have a competitive advantage in job searches and earnings potential.
Areas of Specialization
Areas of specialization that staff accountants prepare for include forensic accounting, tax accounting and financial analysis. Many accounting students choose to study and prepare for public accounting and sit for the certified public accountant exam. Budget analysts and cost estimators specialize in specific areas of accounting to help business keep financial controls and stay competitive.
Training and Education
A two-year degree is the minimum level of education accountants need for entry level staff accounting positions, although four-year degrees and professional certifications earn more attention from prospective employers. Experience from internships, summer jobs during high school and college and practical on the job training are normally expected. Staff accountants must understand basic accounting practices such as general ledger entries and balances, financial reports and monthly and yearly closing procedures.
Earnings
According to the National Association of Colleges and Employers, accounting graduates with bachelor's degrees received average starting salary offers of almost $49,000 per year plus full benefits in 2009. Salaries are dependent upon the size of the company, years of experience and type of education. Candidates working for top accounting firms can expect to earn more early in their careers than those working for small private employers, but will also need to be more competitive in all areas of career preparation, such as higher degrees, valuable internships and more experience.
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