Career Profile in Accounting

Accountants provide financial analysis services to individuals and businesses.

Accountants analyze and verify financial documentation for corporate clients and individuals to ensure that records are accurate and taxes are paid on time. The Bureau of Labor Statistics (BLS) notes that accountants may also offer budget analysis, financial planning and investment planning services to their clients.

Training for Accountants

Aspiring accountants need a minimum of a bachelor's degree. Undergraduate accounting majors meet general education requirements by taking mathematics, English, and humanities courses. At Franklin University, accounting majors complete core business courses in accounting, management and finance. The core courses are supplemented by classes in federal income tax, auditing and accounting research. Accounting majors also have the option of completing an independent research project or internship.

Specialties for Accountants

Accountants can specialize in one of four major areas. Public accountants advise individuals and corporations about tax matters and filing returns, or advise clients in areas such as employee benefits. Forensic accountants investigate illegal financial activity, such as embezzlement or fraud. Management accountants analyze information for the companies they work for. This information is used by executives to make sound business decisions. Government accountants carry out audits of businesses and individuals, while internal auditors evaluate a firm's financial systems for accuracy.

Certification for Accountants

Accountants must meet requirements for licensure in the state where they reside, notes the BLS. In most states this will mean holding a bachelor's degree and having at least two years of relevant work experience. All states use the four-part examination administered by the American Institute of Certified Public Accountants, or AICPA. About one-half of candidates do not pass all four sections on their first attempt at the test; candidates must pass all sections within 18 months of passing their first section. Once certified, CPAs will need to earn continuing education credits in most states in order to maintain their certification.

Job Outlook for Accountants

Employment for accountants is expected to grow by about 22 percent; this growth is spurred by factors including changing financial laws and the globalization of business. Job opportunities should be favorable, particularly for accountants who have earned the CPA designation and have expertise in areas such as international accounting. The BLS notes that graduates of bachelor's degree accounting programs earned average starting salaries of $48,993 per year in 2009.

References

• Bureau of Labor Statistics: Accountants and Auditors
• Franklin University: Accounting Major
• American Institute of CPAs: Licensure