...Careers in Accounting Kimberly Bolton Accounting 100 – Accounting I November 24, 2014 Dr. Anita McKie Careers in Accounting Someone with an education or degree in accounting can pursue different careers. Two of the most profitable career choices would be Certified Public Accountant (CPA) or Chief Financial Officer (CFO). A CPA has an array of duties, to include: filing taxes for individuals or corporations, as well as offering financial planning services. According to AICPA (2014), the financial planning services often include: financial compliance, asset management, managing internal reviews and risk or assessment management. It is worth noting that the CPA can work in different venues such as: government, non-profit sectors, and academe. The Chief Financial Officer (CFO) is another lucrative position for accountants. The CFO plays a vital role in the financial success of any organization. Gaylord & Ried (2006) argue that bearers of this position have the responsibility of informing the Chief Executive Officer (CEO) and board members of any financial transactions, as well as the financial health of the organization. An individual who is seeking employment as a CFO needs to combine a considerable amount of experience with a proven working knowledge of finance operations and accounting, taxes, investment strategies, computer information systems and other current accounting programs. In order to be successful in their positions and...
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...Careers in Accounting Many options exist for someone interested in an accounting career. With as little as a high school education, one could get started as an entry-level bookkeeper or accounting clerk. (Bureau of Labor Statistics, 2014) However, the more education and experience that a person has, the prospects become even greater. One of the most common professions with an accounting education is a Certified Public Accountant (CPA), although every accountant isn’t a CPA. Although, to According to the American Institute of CPAs, a career as a CPA offers “unlimited possibilities for career growth and development”. There are opportunities can include employment for a public or private firm, a for-profit or a not-for-profit company, a government agency, as a consultant or educator. And then you can further specialize your career such as auditor, tax expert, IT accountant, forensic specialist or personal financial planner for clients in various industries. I researched a position on monster.com (2015) for a local company that is accepting applications for the position of accounting manager. The desired candidate for this position will have at minimum a Bachelor’s degree in Accounting or Finance and 3 years of related experience. In addition, they will possess the knowledge and capability to apply Generally Accepted Accounting Principles (GAAP) and accrual basis financial reporting. Furthermore, according to the job description, a candidate must be able to adapt to new and different...
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...Accounting Career When looking at a career that one might want to do, there are many options of what one could choose to do. One of the fields that many people go into is accounting. Accounting is a good choice to go into because there will always be a demand for an accountant in any business. “Employment for accountants and auditors is expected to grow by 13 percent through 2022, according to the U.S. Department of Labor.” (Careers in Accounting) Not only is there a demand in accounting, but it is also a field in which there is easy growth. An accountant can start in an entry level position and be able to move up to an executive level in the company. There are many different careers with an accounting degree because as an accountant you have many career choices and with the right amount of schooling and certificates you can move up in accounting. Accounting is a good career to go into because of the many options that are available, “Accounting is one of the largest professions in business today, with more than 100,000 accounting firms in the United States alone.” (Careers in Accounting). An accountant is required to keep track of either an individual or a company’s financial records; by preparing, analyzing and keeping the budget on track. An accountant has the responsibility to work with a business or an individual and help them understand and evaluate the money they spend and profits that can be made. An accountant needs to be able to give the business/individual...
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...Week 8 Assignment 1: Careers in Accounting Brandon Joseph Professor Darlene Green-Connor ACC: Acounting I August 22nd, 2015 The two career options I chose to highlight for someone with an accounting education were that of a management analyst and a financial manager. I chose these two positions for a numbers which I will explain later. Further in this paper, I will detail a local position with the Department of the Treasury as an auditor.The first career option that I will explore is that of a management analyst. The primary role of a management analyst is to search for organizational inefficiency and suggest ways to increase a businesses or organizations profitability. My primary reasons for choosing this position are the experience and education required, median wages in the public and private sectors, and job growth rate. The position requires a Bachelor's degree and being certified as a Certified Management Consultant (CMC) though the Institute of Management Consultants USA (IMC USA) can greatly increasing the viability of a job candidate. While management analyst isn't quite an entry-level position, it generally requires less than 5 years of experience to get into. The median pay for a management analyst position in the private sector is over twice the nation average at $78,600 according to the U.S. Bureau of Labor Statistics, Occupational Employment Statistics. The pay rate is slightly higher for federal employees, excluding the post office at $84,530 and is about...
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...Careers in Accounting Professor Earnest Daniel ACC100 November 27, 2015 There are many choices available to accountants for what particular field of accounting to specialize in. There is a variety of career choices to choose from depending on the type of information he or she wants to analyze. Bookkeeping has become one of the fastest growing careers in accounting. Bookkeeping, accounting, and auditing clerks held more than 2 million jobs in 2004. Some of the job descriptions include creating financial transactions and creating financial reports for that information. This also includes posting information to accounting journals. A bookkeeper also reconciles accounts to ensure accuracy. To become a bookkeeper a person should have an associate's degree in accounting or business administration, but some can acquire this position with work experience. A financial analyst is another career option for someone with an education in accounting. A financial analyst guides businesses and individuals investment decisions. They assess a company's performance on their stocks, bonds, and other investments. To become a financial analyst one must have a bachelor's degree, or higher if seeking advancement. Some of their duties include evaluating current and historical data, studying the company's financial statements to determine their value, prepare written reports and also have the ability to use software packages to analyze financial data. In May of 2012, the median annual wage...
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...Careers in Accounting Name Institutional Affiliation Question 1 A Forensic Accountant This is a specialized career in accounting, which focuses on investigating financial information to identify or detect existence of white-collar crimes in companies or organizations. It is the responsibility of a Forensic Accountant to analyze and investigate crimes such as bankruptcy, embezzlement, and fraud to provide evidence as to who, what, how, and where the financial crime occurred. A Forensic Accountant needs to integrate law knowledge and the understanding of accounting and finance. The career in Forensic Accounting is recently on high demand because of the increased financial inconsistencies within organizations. A Forensic Accountant finds employment opportunities in many settings, which include law firms, consulting firms, government agencies, and financial institutions (Justice, Law & Legal Studies Forensic Accountant and Fraud Examiner). A Budget Analyst A budget analyst is one of the career paths in accounting. This career involves the relationship between goals of the project and concerns of the budget. The work of the budget analyst is to organize business finances such as preparing budgets reports and checking organizational spending. Minimum requirements are a bachelor’s degree in accounting and in some cases, there is a requirement of a Master’s degree in accounting. Additional requirements include excellent numerical, analytical, and accounting...
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...Assignment 1: Careers in Accounting. Crystal Jones Strayer University ACC 100 Accounting I Professor Christopher Neburath March 2, 2016 Assignment 1: Careers in Accounting In the modern days of business, a professional accountant is necessary for all the industries. The accountant is the person in the company that knows the numbers and is the most important step to determinate the profitability and to show the directors the best way to establish a successful business. Many careers options can pursue someone with an accounting education, two of the most important are the CFO (Chief Financial Officer) and the Internal Auditor. The CFO is the officer responsible for managing the financial operations in a company, planning the strategy to increase the income and to report to the higher management of the business. This career is very prestigious and lucrative. The median annual wage was $168,140 in 2012. The number of top executive employees are projected to grow 11 percent within the next ten years (Bureau of Labor Statistics, 2014). The Internal Auditor is the person responsible for examining and ensuring the accuracy of the financial process within the company. He or she can make improvement recommendations (Weygandt, Kimmel, & Donald, Fraud, Internal Control, and Cash, 2013). This role is for an accountant or someone with a great knowledge of accounting procedures. The median annual wage was $63,550 in 2012. The number of auditor employees...
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...Jose Soto-Marrero ACC100: Accounting 1 Prof. Ekaterina Kouprianova Week 8 Assignment 1: Careers in Accounting March 2, 2015 There are several career opportunities for a person to obtain when pursuing an accounting education. In today’s society, most companies require either an abundant experience in a professional work environment or a bachelor’s degree in a relatable field of study. This request however is not just towards an accounting career position but many others as well; such as managerial, business, information technology, engineering, etc. Examples of a career position in accounting a person can obtain are financial managers and management analysts. Both positions were pulled from the Bureau of Labor Statistics- Occupational Outlook Handbook site page as referenced below. The researched accounting position, as above, is selected to be a financial manager. In addition to the required bachelor’s degree and work experience, a person must also have certain skills, certifications and licenses to perform their duties to a full extent. Being a manager also means to proficient in managing others (i.e. supervisor) while simultaneously completing their tasks as well. A financial manager is also responsible for financial statements and reports, managing the finance department, review details in regards to the financial documents and verify they meet legal requirements. Others might also include evaluating the financial growth opportunities for the company and provide...
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...Assignment 1: Careers in Accounting Isaac I. Huff Strayer University Assignment 1: Careers in Accounting When it comes to pursuing a career in the accounting field, there are many options. According to AccountingEDU.org there are four primary fields in the arena of accounting. Public accounting, Management accounting, Governmental accounting, and internal auditing are the primary fields with many sub-fields that can be entered into. Accounting, of all types, is a constant demand field. A brief search with the term “accountant” yielded over 500 results on USAJobs.gov alone. Two of the accounting fields that interest me most are Forensic Accounting, and Tax Accounting. These two areas appear to be the most involved and ever changing areas in accounting. A Tax accountant is accountable for the collection of tax-related information, reporting to taxation authorities at the federal, state, county, and local levels in a timely manner, and advising management on the tax impact of various corporate strategies. And a Forensic Accounting is the examination of financial records that will lead to or result from litigation. The results of a forensic accounting investigation can be used as evidence in court, and so are usually heavily documented. With the ever-changing US tax code and the increased scrutiny that business is beginning to face, due to things like the Sarbanes-Oxley Act, these two areas can be the difference between jail and smooth operation. Forensic Accounting is a field...
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...CAREER PAPER MUQRIN ALJHARI October 2, 2015 INTRODUCTION Accounting is popularly known as “language of business". Accountants are the practitioners of accounting, who can speak it better than anyone. It measures the results of a company’s economic activities and conveys this information to different users like creditors, investors, management, and regulators, etc. Accounting is the body of knowledge, which is primarily concerned with methods for recording transactions, keeping financial records, performing internal audits, reporting and analysing financial information to the management, and advising on taxation matters. In short, it is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the resources available to a firm, the means employed to finance those resources, and also the results achieved through their use. ACCOUNTING CAREERS Choosing the field of accounting as a career path is a smart decision. This field will always be in demand. This field can help you to grow continuously and help you move up inside your organization. A lot of different positions are available in the field of accounting. Accounting careers can range from entry level positions to executive level positions. Some of the popular careers in...
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...Careers in Accounting Jenifer Smyder ACC100 – Accounting I Dr. Kazem Khan Strayer University December 2, 2014 NOTE: This is your title page for the research paper in APA style. YOUR RUNNING HEAD IN ALL CAPS (a shortened version of your title no more than 50 characters). Be sure to type the words, Running head: and then place your shortened version of your title in all caps. Subheadings in the paper will derive from your brainstorming/prewriting research questions that are formed into phrases. Subheadings (for level one) are centered and bold. Always capitalize the important words in all subheadings including the title of the paper. You will more than likely have 5 to 7 subheadings. The entire paper must be double-spaced using size 12 font Times New Roman style. Abstract Your abstract starts here. Summarize your project in 150-250 words. Tell what stance you are taking on the topic and how you will provide evidence. Tell how you will argue the point. Avoid using contractions and 1st and 2nd person pronouns throughout the entire paper. First and second person pronouns include the following: I, me, my, myself, mine, we, us, our, ours, ourselves, you, your, yours, yourself, and yourselves. (NOTE: Although APA requires this page to be single spaced, and not indented, your professor may have other requirements). The word, Abstract is centered in bold. Title of Paper Here Your...
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...There are some who go to school and receive a degree in accounting and then ask themselves “How far can they do with this type of degree?” Well to answer the question; accounting can be the easiest road to a prosperous business career and this is because accounting has continuously been well-thought-out as the verbal and rudimentary instrument of business. The accounting field is continuously changing intensely in reaction to impatient developments as the PC uprising, amplified management protocols, recurrent tax law modifications, the globalization of commerce, and the economizing and reformation of businesses. The need for accountants seems to be increasing and surpassing resources. The job opportunity in today’s business environment is healthier than ever for accountants. Once an individual is definite that accounting is their major, the next stride is to decide on which occupation route you will follow. The wide-range of job opportunities available to accountants can be divided into three main parts: public accounting, private accounting, and government and not-for profit accounting. There are many skills that you would need to possess in order to succeed in the accounting field. You have to have general business knowledge, because numerous accountants have miscellaneous tasks within their administrations. The responsibilities of accounting and finance professionals are growing. Everyday communication with other divisions, want complete policymaking, compromise and tactical...
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...Although there is a large amount of similarities between most of the various available accounting positions, there are also many significant differences that are very often overlooked. These overlooked differences play a huge role in the misconception that being an accountant is simply about organizing numerical values. Choosing four positions that branch from accounting at random, one can easily determine what these differences are and bring them to light. For example, Tax Examiners, Bookkeeping Clerks, Budget Analysts, and Cost Estimators. The immediate similarities that one would normally state when any of the above positions are mentioned would be that: 1) These accounting job opportunities are all office-based with very little deviation. 2) The nature of each position’s work is to examine numbers from their specific fields, interpret them, and then present them to a higher council. However, in a more in-depth analysis, there are many other details that describe such positions, and each opportunity is accompanied by its own set of unique responsibilities and specifications. Work Nature of Each Position: (Bureau of Labor Statistics) Tax Examiners: Employed by the government, most tax examiners are hired with at least a bachelor’s degree and a background investigation. At roughly a work schedule of 40 hours a week, they spend most of their time in government buildings or traveling around the state gathering information on tax returns and compiling them to assess liabilities...
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...What is accounting? Its financial information for a business or individual which is prepared by a trained accountant for investors, tax audits, creditors, to pay taxes and to receive tax returns. What is an accountant? The accounting profession is a very diverse field with a number of different professional occupations a person can get into, and some of these fields depend on the accounting degree a person has. An accounting degree ranges from a certificate to a doctorate. Some of the different professional fields we are going to look at in this paper are Auditor, Finical advisers, Tax accountant, Management Accountant, and Government accountant. As we study accounting and accountant we will look at the different boards that governed the accounting field, the education that is required, the standers, ethics, and the different certifications. The different accounting degree and certifications, a person can get a certificate in accounting in one year. An associate degree in two years, a bachelors in four years, a master’s in six, and doctoral in eight years. For any of these accounting degrees a person has to attend college classes. With a certificate, associate and bachelors a person can get their certification as Certified Public Account (CPA) the CPA test consist of four tests. A master’s degree a person can get there Certified Management Account (CMA), and Certified internal auditor (CIA) with a doctoral in accounting a person can go into researchers or teaching (Different...
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...Accounting Career Option Alycia Morrison Strayer University Accounting Career Option Career Options for accountants Based on The Bureau of Labor Statistics, the demand for accountants will increase to 16% by 2020. The statistics are higher than the average U.S. career growth expectation by 2020 (Bureau of Labor Statistics, U.S.A., 2012). As part of the government provisions, every company struggle to keep the minimum number of accountants. However, the banking sector has emerged another giant employer for the professionals. The banking sector employee accountants to examine their financial statements, balance sheets, accounting systems, financial records, tax returns, and monitor their accounting systems. Additionally, Banks employ bachelor degree holders and post graduate candidates to become their auditors. Finally, accountants are employed to manage various financial departments such as taxation department, Hedge funds, and mutual fund accountants (Survey of American industry and careers, 2012). In the education sector, accounting staff are running out of supply. This has resulted from high demand of the employees in both private and public financial instructions (Bureau of Labor Statistics, U.S.A., 2012). Accountants find themselves in dilemma between pursuing financial management and spreading their knowledge in classrooms. Despite the completion, education sector employ a significant number of accountants (Survey of American industry and careers, 2012)...
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