Jobs for a Business Accounting Specialist

Accountants have an aptitude for details and strong math skills.

Accountants and accounting specialists maintain accurate financial records while monitoring and reporting the fiscal health of businesses or individuals. Accountants often prepare tax documents and financial statements, and some work as auditors who review and reconcile the financial operations of a business.



Accountants can seek professional certification as a Certified Public Accountant by passing licensing exams and fulfilling any requirements determined by their practicing state. Legally, only CPAs can file reports with the Securities and Exchange Commissions.

Public Accounting

Public accountants are employed by government agencies, businesses, non-profit organizations or individuals. They may specialize in taxes by preparing income taxes and providing tax advice for corporations. Others may specialize in employee healthcare benefits or compensation, while external auditors review financial statements and prepare reports for investors and authorities. Forensic accountants investigate white-collar crimes such as securities fraud, contract interpretation and money laundering, working with attorneys and law enforcement officers.

Management Accounting

Management accountants prepare budgets, financial performance evaluations, and cost and assessment management analyses. These specialists may have the title of cost, industrial, managerial, corporate or private accountant. Management accountants work with executive personnel in strategic planning, providing financial expertise advice. They may work on annual reports and other documents for stockholders, creditors, and tax regulatory agencies. Management accountants may advance to company controller, treasurer or budget director, and may be promoted to the executive team as financial vice president or officer.

Government Accounting

Government accountants are public employees who prepare government records and audit businesses and individuals requiring governmental oversight. Internal Revenue Service agents ensure business and individuals pay the correct tax amount, while federal, state, and municipal accountants monitor government revenues and expenditures.

Internal Auditing

Companies employ internal auditors or accountants to ensure the proper financial controls are maintained. These professionals look for fiscal mismanagement or fraud. Information technology auditors work with company computer systems to establish and monitor control mechanisms that ensure measured data is accurate. Compliance auditors review company operations for compliance with government rules and company protocols, concerning themselves with operational efficiency and effectiveness, while internal auditors review the control mechanisms of an organization's diverse business units.

Earnings

Accountants and auditors earned a medium income of $59,400 as of May 2008. The top 10% earned more than $102,000. According to the Bureau of Labor Statistics, accountants will enjoy much faster than average employment due to a projected increase in the number of businesses and increased financial oversight and evolving financial laws and regulations. Those with expertise in accounting software or a business area such as international financial reporting or international business may significantly enhance their career prospects.

References

• Bureau of Labor Statistics, Occupational Outlook Handbook, 2010-11: Accountants and Auditors