Accounting Job Facts & Stats
An accountant handles important financial transactions for a client or company. There are many different types of accountants, from those who specialize in auditing and investigation to those who work in accounts payable and accounts receivable departments. Accountants work in a wide array of industries and handle tasks such as making sure bills are paid, taxes are deducted and payments are collected.
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Basics
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The job description of accountants varies greatly depending on their title. Some are responsible only for budgeting, cost and asset management, tax matters and finding ways to cut costs. Others deal solely with bankruptcies, frauds and audits. Meanwhile, those who work in accounts payable and receivable departments keep track of invoices and make sure bills are paid and balances are received, respectively. Also, some accountants work as accounting clerks, who are typically responsible for general office duties and light bookkeeping.
Skills
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An accountant needs to be an accomplished mathematician, considering much of her job involves numbers. She should be analytical, organized, motivated and a capable problem solver. She also will need to possess strong communication skills, as she often must relay financial information to clients and superiors. On top of all that, accountants must have a basic understanding of how to operate basic office equipment such as computers and adding machines, as well as a working knowledge of software used for financial transactions.
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Background
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Most companies prefer candidates with a master's or bachelor's degree when hiring an accountant. Areas of study typically include finance, economics, business, administration and mathematics. Some accountants receive certifications, which vary by industry and title. Others begin as accounting clerks, then work their way up after learning various aspects of the industry.
Prospects
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Jobs for accountants are expected to increase by 22 percent during the 2008-18 decade, according to the U.S. Bureau of Labor Statistics (BLS). That is a considerably faster rate than for all occupations. Nearly 1.3 million workers were employed in the accounting field in May 2008, the BLS reported. "In addition, employers increasingly seek applicants with strong interpersonal and communication skills," according to the BLS.
Earnings
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Salaries of accountants vary based on title, education and industry. According to PayScale.com, accountants earned from $37,000 to more than $51,000 per year in March 2010. Accountants payable specialists earned up to $40,000 per year, while accounts receivable specialists made more than $39,000 per year, also in March 2010, PayScale.com reported.
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References
- Photo Credit accounting calculator over the hundred dollar bank notes image by Elnur from Fotolia.com
