Accounting Job Title Description
In 2008, there were approximately 1.3 million accountants employed in the United States. Accountants provide an important service to businesses, government agencies and other organizations by helping them to accurately keep records, comply with government reporting requirements and pay taxes. Accountants will find good job prospects as the field experiences faster than average growth.
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Duties
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Accountants analyze and verify financial information and communicate that information to clients. They may also perform budget analysis and financial planning. Accountants may be employed by individuals, small businesses, large corporations, non-profit organizations or local, state and federal governments. Accountants may work in the accounting or financial department of an organization, in accounting firms, or may be self-employed.
Most accountants work in an office setting. Some accountants may travel to perform audits, give presentations, or examine records in their clients' offices. Many accountants work a 40-hour week, but may work long hours to meet deadlines and during tax season.
Education
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Most accounting positions require at least a bachelor's degree in accounting or a related field, such as finance or business administration. Some positions require a master's degree. Some individuals with associate's degrees begin with bookkeeping or junior accounting positions and advance to accounting positions as they gain experience in the field.
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Licensure and Certification
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Any accountant responsible for filing reports with the Securities and Exchange Commission must be a Certified Public Accountant (CPA). To become a CPA, an accountant must pass the American Institute of Certified Public Accountants (AICPA) four-part Uniform CPA Exam. The AICPA exam is rigorous, with fewer than half of all candidates passing all four parts on the first attempt. Candidates are not required to pass all four parts at once, but must pass all parts within 18 months of each other. Most states also require CPA candidates to be college graduates, but some states accept a certain number of accounting work experience as a substitute for a degree. As of 2009, 46 states and Washington, D.C. require CPA candidates to complete 150 semester hours of coursework, which is an additional 30 ours beyond the credits typically required for a bachelor's degree. Most states require CPAs to complete continuing education requirements to keep their licenses current.
The American Institute of Certified Public Accountants and the Institute of Management Accountants offer several specialized certifications with varying requirements.
Wages
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In 2008, the median annual wage for accountants working in the United States was $59.430, with most accountants earning between $45,900 and $78,210. Earnings vary by education, certification, location and years of experience. Accountants working in tax preparation, bookkeeping and payroll earned the highest wages, and accountants holding master's degrees generally earn more than those with bachelor's degrees.
Outlook
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Job growth for accountants is growing faster than average, with the Bureau of Labor Statistics projecting 22 percent growth, with the addition of 279,400 new jobs between 2008 and 2018. This growth is due in part to the increase in regulations related to corporate governance and financial reporting. CPAs and accountants with master's degrees may find a broader range of job prospects.
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References
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