Everything You Need To Know About A Career In Accounting
If you have always been good with numbers or enjoy doing work as a bookkeeper, you may want to consider going to accounting school and studying to become an accountant.
What does an accountant do?
An accountant documents all the financial transactions for a company, creates expense reports, and analyzes profit and loss statements (or P&L statements). They may even manage accounts payable and accounts receivable for the company they work at.
What is the difference between a bookkeeper and an accountant?
A bookkeeper simply inputs the data on deposits and withdrawals. An accountant, on the other hand, has been trained on how to successfully analyze the data to produce reports and recommendations.
What do you learn in accounting school?
Most accountants study both math and accounting practices while in accounting school. They need to have a solid understanding of accounting procedures and best practices before going out into the workforce. Their studies may include the use of popular accounting software programs to aid in that pursuit.
Additionally, if you choose to study accounting at a community college and earn an associate's degree, you will also need to study the general education requirements of the college, like science and literature.
Is there a need for accountants?
Both large and small businesses will always have a need for capable accountants to help them manage the financial side of their company. In fact, the United States Bureau of Labor contends that there will be a need for over 60,000 accountants and auditors over the next ten years. This is a growth of about four percent more than other related fields over the same time frame.
What are the career levels in accounting?
There are many ways to move up in the hierarchy of accounting jobs. You can work as a bookkeeper while in accounting school and transition into an accountant position after graduation. With additional studies in accounting, finance, or another related field, you can move on to become an accounting manager, auditor, or comptroller. If you enjoy managing taxes, you can take the Uniform CPA Examination and become a Certified Public Accountant.
Accountants who pursue advanced studies and earn an MBA (master's in business administration) can move into an executive position as a VP of Finance or even as a CFO, Chief Financial Officer, of a company.
Accounting is a prosperous and enjoyable career choice for anyone that likes working with numbers and financials and attending accounting school is the first step in that career path.