The increasing popularity of tax preparation firms and computer software will shift accountants away from tax preparation. As computer programs continue to simplify some accounting-related tasks, clerical staff will increasingly handle many routine calculations.

Most accountants work in urban areas, where public accounting firms and central or regional business offices are concentrated.

In the aftermath of the accounting scandals, professional certification is even more important to ensure that accountants’ credentials and knowledge of ethics are sound. Applicants with a master’s degree in accounting or an MBA with a concentration in accounting have an advantage in the job market along with those having expertise in specialized areas, such as international business, specific industries, or current legislation. Professional recognition through certification or a designation other than CPA also provides a distinct advantage.

Many senior corporate executives have a background in accounting, internal auditing or finance. Beginning public accountants often advance to positions with more responsibility in one or two years and to senior positions within another few years. Those who excel may become supervisors, managers or partners; open their own public accounting firm; or transfer to executive positions in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.
Work Environment

Most accountants work in a typical office setting, and technological advancements now enable more work to be done from home. Accountants employed by public accounting firms, government agencies, and organizations with multiple locations may travel frequently to clients’ places of business or government facilities.

Most accountants work a standard 40-hour week, but many work longer hours, particularly if they are self-employed and have numerous clients. Tax specialists often work long hours during the tax season.

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.