When you graduate from university with a degree in accounting, the first thing you want to do is get a job. Most recent graduates start off working for a public accounting firm to learn the ropes and to gain experience in all facets of the business. You will have some experience in this as the university program includes one or two work terms. It is quite possible that the firm where you do your work term will hire you and you may even have a job offer before you graduate. It is during your first few years of working in the accounting industry that you start to explore the possibilities of advancing your accounting career.
The first thing you have to do when advancing your accounting career is to look at the areas of specialization in the accounting industry. Whether or not you want to remain working as a public accountant, in order to gain promotions in your company or set up your own business, you need to study for the CPA exam to become a certified public accountant. You do need to have at least two years of work experience as a public accountant, take an additional thirty semester hours of courses and obtain a passing score in a very difficult comprehensive exam. Less than half the accountants that take this exam pass it the first time, so you do need to be very knowledgeable about the accounting industry.
Once you achieve CPA designation, you are then well on your way to advancing in your accounting career. Many of the high paying jobs in the accounting industry require you to have this certification and most of the other certificate programs for specializing in the field also require this certificate. During your work experience as a public accountant, you will perform many different tasks and therefore gain some knowledge of what is involved in both. If you really feel comfortable and enjoy preparing income tax returns, you can become a certified tax preparer by taking the courses and writing an exam for the certificate. Other certificates in this field include Accredited Tax Advisor, Elder Care Specialist, and Accredited Business Accountant.
If you like the auditing work you have been doing as a public accountant, this offers another possibility of advancing in your career. You can take the courses of study and write the exam to become a Certified Internal Auditor. To be eligible for this certificate, you must have at least two years of experience in auditing and pass the four-part exam for the certificate. Other certificates that exist in this area of accounting include Certified in Control Self-Assessment, Certified Government Auditing Professional, and Certified Financial Services Auditor.
Forensic accounting is another avenue for advancing your accounting career. This involves investigation of fraud in the financial records of a company and requires that you work closely with law enforcement officials. To become a forensic accountant, you must be a certified fraud examiner. There are many possibilities for advancement when you work with the government, such as becoming a certified government financial manager. In the private sector, management accounting is a growing field in which companies need the services of cost accountants.
Once you achieve the various certifications, you will have very little difficulty obtaining an accounting job in that field of specialization and advancing up through the ranks to senior management and even partner in a firm if that is your goal.
