| Accounting: Managing Money | | | | government facilities. Most accountants and |
| Brief Description of Job: | | | | auditors usually work forty hours per week, but |
| Accounting refers to the process of recording, | | | | they can work longer hours if they are |
| discussing, and analyzing the financial data in | | | | self-employed or have many different clients. Tax |
| business. Accountants keep records of a | | | | specialists often work long hours during tax |
| company’s money. They watch how well | | | | seasons. There are some accountants who work |
| the company is doing financially, and what | | | | only during tax seasons. |
| contracts, business deals will gain a profit for the | | | | Education & Training Required |
| company. They know how much each employee | | | | “Most accountants and auditor positions |
| is paid. Many people assume that to be an | | | | need at least a Bachelor’s degree in |
| Accountant one has to be greatly comfortable | | | | accounting or a related field.” Some |
| with Math. Here math means highly mathematical | | | | companies prefer people applying for a job to |
| equations, figures, graphs etc. However, a student | | | | have a Master’s degree in accounting or in |
| only needs to know the introduction of Math | | | | Business Administration with majoring in |
| (addition, subtraction, division, and multiplication). If | | | | accounting. In order to get a CPA certification, |
| one can do simple mathematics, he can learn | | | | you must complete 150 semester hours of |
| about Accounting. There are four types of | | | | college class work. All states use the four-part |
| Accountants: Public Accountants, management | | | | uniform CPA examination, which is prepared by |
| accountants, government accountants and internal | | | | American Institute of Certified Public Accountants. |
| accountants. I want to be a public accountant. | | | | It is a very challenging examination and less than |
| Public accountants can be called to do many things | | | | half of people who take each year pass every |
| dealing with money such as accounting, auditing, | | | | part on the first attempt. Students do not have |
| tax, and advising their clients. These clients can be | | | | to pass all four parts at once. However most |
| corporations, governments, nonprofit organizations | | | | states require students to pass all four parts |
| or individuals. Some public accountants focus on | | | | within 18 months of each year. The CPA exam is |
| tax matters, which includes discussing benefits and | | | | now online and you can take at least two months |
| drawbacks of particular financial transactions and | | | | out of every quarter at different testing places |
| preparing individual income tax returns. They also | | | | throughout the U.S. Prior work experience in |
| do consulting in activities such as compensation or | | | | accounting or auditing can be helpful to get a job. |
| employee health care benefits and how to design | | | | Many colleges offer an internship programs so |
| accounting and data processing systems. Public | | | | that students can gain experience and knowledge |
| accountants, who have passed CPA exam known | | | | in summer or on part-time basis. Having |
| as Certified Public Accountant, can run their own | | | | knowledge of computers is a big asset for |
| businesses or work for Public accounting firms. | | | | applicants in the accounting and auditing fields. |
| Management Accountants also referred to as | | | | Average Annual Salary |
| Cost managerial, industrial, corporate or private | | | | Annual salary people working in accounting, tax |
| accountants. They analyze and evaluate the | | | | preparation, bookkeeping, and payroll services are |
| financial records of the companies for which they | | | | $57,020. Salary for People working in |
| work. Their other obligations are budgeting, | | | | management of companies and enterprises is $55, |
| performance evaluation, cost management, and | | | | 560. Local government pays $50,120. Depository |
| asset management. These people are involved in | | | | credit intermediation pays $49,380. State |
| strategic planning or the making of new products. | | | | government pays $47,200. “Median annual |
| They evaluate the information that the | | | | earnings of wage and salary accountants and |
| executives they work with must have in order to | | | | auditors were $54,630 in May 2006. The middle |
| run the company successfully. They also make | | | | half of the occupation earned between $42,520 |
| financial reports for other people such as | | | | and $71,960. The top 10 percent earned more |
| stockholders, creditors, regulatory agencies, and | | | | than $94,050, and bottom 10 percent earned less |
| tax authorities. | | | | than $34,470.” Federal government paid |
| Government’s accountants and auditors | | | | junior accountants and auditors $28,862 in 2007. |
| work with businesses, examining the records of | | | | Applicants with higher qualifications can start at |
| government departments and auditing private | | | | $35,752, while candidates with a Master’s |
| businesses. They also work for people whose | | | | degree or two years of experience usually began |
| jobs are subject to government regulations or | | | | at $43,731. |
| taxation. Accountants hired by federal, state, and | | | | Employment |
| local governments make sure that profits are | | | | Accountants and Auditors reserved about 1.3 |
| gained and expenses are made without breaking | | | | million jobs in 2006. They employed with private |
| the laws. | | | | industry and government. However 21 percent of |
| Internal auditors examine a company’s | | | | accountants worked for accounting, tax |
| internal controls and check that there is no | | | | preparation, bookkeeping, and payroll services |
| mismanagement, waste and fraud. They look | | | | firms. About 10 percent 0f accountants have their |
| over a company’s financial and information | | | | own businesses. “Many management |
| systems, management procedures, and internal | | | | accountants, internal auditors, or government |
| controls to make sure that they are correct and | | | | accountants and auditors are not CPAs: however |
| suitable. They verify company operations, rating | | | | a large number are licensed CPAs.” Many |
| their “efficiency, effectiveness, and | | | | accountants work in urban areas, where public |
| compliance with corporate policies and | | | | accounting firms and central or regional offices of |
| government regulations.” Internal auditors | | | | businesses are concentrated. |
| can also help companies with their computer | | | | Future Outlook |
| systems assuring that the information that comes | | | | Job opportunities for accountants and auditors |
| from them is correct rather than depending on | | | | should be growing. Those who have earned a |
| personal observations. | | | | CPA exam should be able to find a job easily. Any |
| Necessary Interest & Abilities: | | | | accountant or auditor who is known as the one |
| One needs to be interested in deal with numbers. | | | | who acts correctly with certification or licensure |
| You have to compare and make income | | | | accounts should find a job comfortably. Applicants |
| statements, control the flow of money, prepare | | | | with a Master’s degree in business |
| long financial reports and discuss | | | | administration with a concentration in accounting |
| company’s revenues and losses. It relies | | | | won’t have much difficulty getting a job. |
| on the area of which you are specialized in; you | | | | Employment of accountants and auditors hopes |
| deal with numbers to give effective financial | | | | to grow by 18 percent between 2006 and 2016. |
| advice to your clients or employers. For instance, | | | | This field has enormous new jobs to rise, almost |
| an accountant can talk about a company’s | | | | 226,000 over the projections decade. “An |
| financial performance and what it looked like in the | | | | increase in the number of businesses, changing |
| last month, the last year or even the last decade. | | | | financial laws, and corporate governance |
| Joyce Rowe is an accountant with a plastics and | | | | regulations, and increased accountability for |
| fiberglass manufacturing business. She states, | | | | protecting an organization’s stakeholders |
| "I'm challenged every day. Business is the | | | | will drive growth. |
| same but it is never the same. As the economy | | | | Related Jobs |
| and the environment changes, it impacts the | | | | Related jobs for accountants are Actuaries, |
| financial wellness of the company. As an | | | | Bookkeeping clerks, Budget analysts, Cost |
| accountant I have to ask myself, 'How will this | | | | estimators, Financial analysts, Financial managers, |
| environmental issue affect the company?'" | | | | Insurance sales agents, Insurance underwriters, |
| Work Environment | | | | Loan officers, and personal financial |
| Accountants and auditors work in a normal office | | | | advisors.before advising his company about a |
| setting, while some may work at home. Some | | | | particular deal or a contract? What will be |
| accountants may travel often to perform audits | | | | beneficial for a company he works for? |
| at branches of companies, places of business or | | | | |