Accountants are in a field that is stable and has a high earning potential.
Accountants maintain and analyze financial records of companies, government agencies, and other organizations. Due to the nature of the work, accountants need to be analytical and detail oriented. According to the Bureau of Labor Statistics, accountants made an annual median salary of 71,550 dollars in 2019.
A career in accounting can be pursued by individuals with a solid educational background and a wealth of professional experience.
What do accountants do?
Accountants ensure that financial records are accurate by preparing them. Accountants ensure compliance with applicable laws and guidelines by maintaining records. Accountants calculate taxes and verify that their clients, companies, or organizations pay them on time.
Accountants often work closely with managers and executives in companies to provide advice and guidance on ways to reduce costs, increase revenue and profits. Accounting clerks and staff may also be under their supervision.
A bachelor’s degree is required to become an accountant. A career in public accountancy requires certification by the American Institute of CPAs. The AICPA administers a four-part assessment that measures accounting knowledge and skill. CPAs are employed by both small and large companies.
Accounting professionals may also choose to pursue certification in management accounting. A certified manager accountant (CMA), focuses on financial management, strategic decision making, and financial planning for private companies.
Do you plan to begin a career in Georgia as an accountant?
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Where do Accountants Work?
Many accountants are employed full-time in an office setting. You can work from home if you are a freelancer and provide services to individuals rather than corporations or companies. Accountants can work in a team but are also likely to work alone.
In the United States, the accounting, tax preparation and bookkeeping industry is the largest employer of auditors and accountants. Accountants are also employed by government agencies, insurance companies, and finance and insurance firms. Transportation, federal government and information services are the industries that pay most for accountants.
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Accounting professionals can benefit from an analytical, organized approach. They can then assess the financial situation and find solutions. This requires a high level of reasoning. They can also give advice on ways to increase revenue and reduce costs.
Accounting professionals also require strong communication skills in both written and oral form, as this helps them to prepare reports and understand financial concepts. Accountants may work alone or in a group, and often use special software or technology.
Continuing education improves the soft and hard skills of an accountant. Accounting professionals who expand their business skills can strategize, lead and learn how to do so. Accounting professionals can be prepared for niche fields by specialized coursework. Accounting courses such as forensic accounting prepare accountants to examine financial records for signs of criminal activity.
BLS data shows that accountants’ median annual salaries in 2019 exceeded $71,000. BLS projects that jobs will grow between 2019 and 2029. PayScale reported that major cities along the East and West Coasts offer salaries for accountants well above the national median.
Why become an accountant?
Accountants are employed in all industries. They are employed by independent accounting and financial firms, government agencies and businesses of all sizes. Accountants are also able to thrive in the non-profit sector or as entrepreneurs.
Accounting professionals enjoy working with numbers and solving problems. Accountants must be able to work both independently and in a team. They provide guidance to clients and organisations about financial decisions, while maintaining the integrity of financial records.
Tax preparation and submission is a major responsibility of accountants in the United States. Tax season is the busiest period of the year for accountants. Accounting services include identifying deductions and investing opportunities that can help clients maximize their tax returns.