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Share Accountants and auditors are often stereotyped as little more than math geeks, sitting in dark cubicles tabulating endless, mind-numbing streams of numbers.
However, while accountants do need to have solid math skills, the job is much more. Accounting today is a blend of analysis, problem solving and detective work; to do the job right you must be able to communicate effectively and deal with people, not just numbers.
Read on to find out more about what the job entails and how you can get into it. The Daily Grind Accountants and auditors work for companies, individual clients and governments to ensure that firms run efficiently, records are kept accurately and taxes are paid.
Accountants can also analyze budgets and provide some financial planning services as well as information technology consulting and limited legal services.
There are four major fields of accounting and auditing. The kind of work these professionals do is determined, in part, by what field of work they choose: Management Accountants - Management accountants tend to work for companies as part of teams.
They provide company executives with the information and analysis they need to make decisions. Executives also use this information to prepare the financial reports that are distributed to shareholderscreditorsregulatory agencies and the Internal Revenue Service IRS.
They do the books for government agencies as well as audit businesses and individuals who are required to conform to government regulations or pay tax.
Accountants who work for the federal government may be employed by the IRS, and may be responsible for auditing branches of government organizations to ensure financial objectives are being met. Public Accountants - This is one of the broadest accounting fields, as public accountants provide accounting, tax, auditing and consulting services for governments, corporations, nonprofits and individuals.
Many public accountants are Certified Public Accountants CPAsbut they may concentrate their efforts on a few services, such as tax preparation for businesses and individuals or auditing financial statements.
Internal Auditors - Internal auditors act as detectives. They work to examine the internal controls of an organization and attempt to sniff out and prevent inaccuracy, mismanagement and fraud. Accounting tends to be a typical nine-to-five office job, although longer hours are common during busy periods, such as tax time.
Companies lose billions each year to fraud, making this sector one of the fastest growing. Environmental Accounting - As the green movement grows in business, environmental accountants are sought to analyze the costs of pollution prevention for manufacturing and compare it against other alternatives, including missed tax creditsfines and bad relations with neighbors.
For more on this, check out the Green Investing Feature. This job would deal with the traditional areas of tax, audit and financial analysisbut working in Hollywood could add that touch of glamor that some people seek. Trustee In Bankruptcy - These accountants are appointed by the U.
Department of Justice in bankruptcy court proceedings. Almost all states require that a CPA candidate have a college degree as well as an additional 30 hours of college coursework. These more specific certifications can be obtained in addition to or instead of the CPA designation and can provide graduates with an edge in the job market.
Where you fall will depend on the state you work in, your experience and certifications and the type of job you choose.
For the most up-to-date wage statistics, see the Occupational and Employment Statistics provided by the Bureau of Labor Statistics. These days, accounting is very team-oriented. The ability to communicate and cooperate with other people is a must. Most of your work will be done electronically, and firms are always implementing new electronic systems for submitting and preparing financial statements.
If you have a laid-back personality and tend to let things slide, stay away from this career!
Accountants must be conscientious and should tend toward perfectionism. Conclusion Accounting is a diverse career with virtually unlimited options.
If you have the right set of skills for the job, you can find a way to employ them that also suits your tastes, personal strengths and personality.
Trading Center Want to learn how to invest? Get a free 10 week email series that will teach you how to start investing. Delivered twice a week, straight to your inbox.One potential career path a MAcc degree would enhance could be that of an accountant. Accountants manage the financial duties of a business.
These could include maintaining financial records,, reporting financial information, analyzing assets and risk management. It is easier to set up career paths for employees and monitor their progress toward the goals outlined for their functional areas.
Specialization. A company can use this approach to cultivate a group of extraordinary specialists who can strongly impact the functions of the company. A Functional Specialist Vs.
a Management Generalist Understanding the differences between functional specialists and management generalists can help you prepare a career path that will let you strut your skills and climb the ladder.
Functional Specialist. A functional specialist is an expert in a specific discipline, such as human resources. The CBS Financial/Accounting Rotational Program is a long-term program designed to develop, annually, ambitious, high-performing recent college/post college graduates into future leaders within CBS’s financial and accounting organization.
Flexible career path We encourage and facilitate cross functional experience. Depending on your interests and qualifications you can work across various disciplines or specialize in a chosen field.
Employees engaged in passion-centered career paths or profession-centered career paths can move from SMEs to pursue cross-functional paths. Cross-Functional Career Path In a cross-functional career path, careerists have the ability to move between two or more functional areas in their careers.