Accountant .org

Accountants help ensure that companies are run efficiently, their public records are accurate, and that tax liabilities are paid on time. They analyze and communicate financial information for private corporations, individuals, and government agencies. Many accountants also offer personal budget analysis, financial and investment planning, asset management, retirement planning, technology consulting, and limited legal services.

Specific job duties vary widely among the major fields of accounting:

Public Accountants perform a broad range of accounting, auditing, tax, and consulting activities for all types of clients, however, federal legislation now restricts the non-auditing services that public accountants can provide to clients. If an accounting firm audits a client’s financial statements, that firm cannot provide advice on human resources, technology, investment banking or legal matters.

Management Accountants – also called cost, managerial, industrial, corporate, or private accountants – record and analyze companies’ financial information, using it to prepare financial reports for executives and others, including stockholders, creditors, regulatory agencies, and tax authorities.

Government Accountants work in the public sector, maintaining and examining the records of government agencies. Accountants employed by federal, state, and local governments ensure that revenues are received and expenditures are made in accordance with current laws and regulations.

Technology is rapidly changing the nature of most accounting work. Specialized software has greatly simplified the processing of data for financial analysis, and advanced accounting packages eliminate much of the tedious work associated with data management and record keeping.
Job Requirements

People planning a career in accounting should have an aptitude for mathematics and be able to analyze, compare, and interpret facts and figures quickly. They must be able to clearly communicate the results of their work, and be good at working with people, business systems and computers. At a minimum, accountants should be familiar with basic accounting and computer software packages. Because financial decisions are made on the basis of their statements and services, accountants must have high ethical standards.

Most accountant positions require at least a bachelor’s degree in accounting or a related field, with a master’s degree preferred. Some colleges now offer programs to prepare students to work in growing specialties, such as internal auditing.

Some graduates of junior colleges or business schools, as well as bookkeepers and accounting clerks who meet their employers’ education and experience requirements, can obtain junior accounting positions and advance to accountant positions by demonstrating their skills on the job.

Certified public accountants (CPAs) are licensed by their state Board of Accountancy after passing a national exam and meeting the other requirements of the state where they practice. Most states require CPA candidates to be college graduates.

California is one of 42 states requiring CPA candidates to complete 150 semester hours of college coursework – an additional 30 hours beyond the usual four-year bachelor’s degree. In response to this trend, many schools now offer master’s degrees as part of the 150 hours. Prospective accounting majors should carefully research accounting curricula and the requirements of any state in which they hope to become licensed.