Here then is a basic accounting career overview with the intention of assisting individuals get a head start on the profession. Also, take note that the accounting job description for each position that follows is expressed in general terms since specific job duties, functions and responsibilities will vary from one company to the next.
Paths to a Career
Just like in other professions, becoming an accountant and/or auditor can take many paths. First, you can finish a bachelor's degree in accountancy from an accredited college or university. You can choose either the 4-year bachelor's degree program or the 5-year program combining the bachelor's degree program with the master's degree.
The 5-year program is designed to meet the 150 semester hours of college coursework necessary to qualify for the licensure exam to become a Certified Public Accountant (CPA). It must be emphasized, however, that not all states require the additional 30 hours of coursework for taking the licensure exam. Thus, asking state authorities about specific requirements is a good idea. In many an accounting job overview, this is the most straightforward path to take.
Second, you can finish a master's degree on business management with greater focus on accounting. Again, you can take the CPA licensure exam depending on the state regulations. Plus, take note that in many an accounting job description, only a master's degree is required by the employer - no CPA license necessary.
Third, your extensive work experience can also substitute for a bachelor's or masters degree in accounting as requirement for advancement in the accounting profession. For example, many senior level accountants started out as accounting clerks who have proven their worth on the job, attended various training seminars and acquired other forms of certifications.
In all these discussions about the accounting employment overview in relation to education, training and work experience, it will be observed that CPAs have higher chances at securing the job. This is to be expected considering that these professionals are educated, trained and licensed to be experts in accounting and auditing, period. Thus, more often than not, these professionals' qualifications will fit into any accounting job description.
Areas of Specialization
In general, said job description will involve one or more of the functions, responsibilities and tasks of ensuring that the organization runs its financial affairs effectively, efficiently and legally. Depending on the position, responsibilities include gathering, classifying, recording, analyzing and communicating financial information to the management, stockholders and third party entities; formulating of budgets and forecasts; establishing internal control measures; planning for investment purposes; consulting on relevant information technology; and providing for limited legal advice.
An accounting career overview will be incomplete without mention of the fact that there are four major areas of specialization in the accounting profession. In turn, the job description of an accounting career will also vary in different degrees.
* Public accountants provide for a wide range of accounting, auditing and consulting services for clients, which can either be organizations and individuals in both the private and public sectors. To be more specific, services will include investment tax consultations, compensation advice and audit certifications as to the fairness of the financial statements.
* Management accountants are involved in the analysis and interpretation of financial information, which will then be used in management decisions.
* Government accountants and auditors work in federal, state and local offices with responsibilities like the examination of financial records of private and public entities subject to government regulations, the collection of revenues from various entities and other financial aspects of governance.
* Internal auditors work within the organization to ensure that waste, mismanagement and fraud of the financial assets are prevented by the internal controls. Along with this basic function, the accounting job description of an internal auditor also includes ensuring the reliability of the information systems so that the integrity of the financial information can be safeguarded.
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