How to become an accountant
Accountants are able to help individuals as well as more complex organisations keep and analyze their financial records. They also ensure that they stay in compliance with the tax laws and regulations and can determine how best to spend money.
Accountants can specialize in a variety of fields. Public accounting is the process of consulting clients to make sure they’re meeting their legal tax and auditing requirements. Public accountants who are also forensic accountants investigate financial crimes.
Management accounting is another branch of accounting. These accountants work for businesses, planning budgets and investing. Some accountants are internal auditors who ensure that an organization’s finances are being handled correctly.
What type of training do you need to be an accountant?
You will need a bachelor’s in order to get most accounting jobs. However, with an associate’s degree you can perform certain accounting tasks for employers, such as payroll.
Accounting programs are available at many colleges and universities. These programs cover accounting principles, economics and statistics, as well as management, finance, statistics, and economics. It is important to learn how to use accounting tools and systems, such as spreadsheets and databases. Most accounting degree programs include internships as a requirement for students to gain experience.
A master’s degree does not have to be held for an entry-level job in accounting. However, you can take graduate courses and earn that degree if you want to advance your career.
Do you plan to begin a career in Colorado as an accountant?
Colorado is considered a great place to live. It offers a variety of activities and amenities for its residents. Colorado has a vibrant economy with a variety of industries and strong job market. Consider getting Colorado errors and omissions coverage to protect you from unexpected risks.
Do you have to be certified or licensed?
Many accountants are licensed as Certified Public Accountants. CPAs are required by accountants whose job includes tasks such as filing reports with US Securities and Exchange Commission. However, even if you don’t need a CPA, earning one will still improve your earning potential and increase your job prospects.
All states have their own licensing requirements. However, all require CPA candidates who wish to be licensed to pass the Uniform CPA Examination. Most states require that you complete 150 semester-hours of accounting education, including graduate-level courses, as well as gain some accounting experience, before you can become licensed.
Accountants have other options for certification besides CPA licensing. Many professional accounting associations provide certification programs, which are not state-regulated. For example, you can become a Certified Management Accountant by the Institute of Management Accountants. Or a Certified Internal Auditors by the Institute of Internal Auditors. These certifications demonstrate that you are an expert in your field of accounting. Accounting certifications are often sought by employers and accountants who have them receive higher salaries.
How much time does it take for a person to become a certified accountant?
Most accounting jobs require a bachelor’s, which takes about four years to finish. After you graduate, you can start working in an entry-level role such as staff accountant, tax staff or junior internal audit. Once you’ve gained experience in an entry-level position (typically for two years), you may want to work towards earning your CPA.
After three to six year’s experience you can move up to a senior position in your field of expertise and then to a management position.
How much does a accountant earn?
According to the US Bureau of Labor Statistics the median salary for accountants in 2010 was $61,690. Top earners in the field earned more than $106,880, while those at the bottom made less than $35,940.
What are the employment prospects?
Many “top jobs” are produced each year by Forbes, Yahoo! and CNN.
A survey by the National Association of Colleges and Employers on job prospects revealed that 51 percent of respondents planned to hire accounting graduates in 2013.
What are the career prospects of accountants in the future?
The Bureau of Labor Statistics predicts that the employment of accountants, auditors and other related occupations will grow by 16 percent between 2010-2020. This compares to a 14 percent increase for all other occupations in that period.
Accounting is often viewed as a job that can withstand recessions, because it requires individuals and businesses to pay taxes and manage their finances in both good and bad times. This is a common misconception. Thousands of accounting jobs were actually lost during the Great Recession in 2008, and the profession has now recovered.
Accounting professionals can improve their prospects for the future by earning advanced degrees and becoming CPAs. This will help them stand out from other job applicants. Accounting offers many career opportunities. Accountants with education and experience can work as managers or partners in accounting firms, or on executive boards for corporations and other organizations.
Where can I get a job in accounting?
Experience is the key to landing a job as an accountant. Even junior-level positions can require at least two or three years of experience in accounting. Consider pursuing internships or entry level clerical jobs if you have no experience.
Search for accounting consulting jobs, but also consider government, education or health care.
Where can I find out more about accounting?
There are many professional accounting organizations, such as the American Accounting Association (ACA), the Institute of Management Accountants (IMA), the National Society of Accountants (NSA), the American Institute of CPAs (AICPA), the Institute of Internal Auditors and the International Federation of Accountants. These and other professional organizations are dedicated towards the advancement of the profession and provide educational and career resources for those interested in the field.