The nature of work of accountants and auditors is to prepare, analyze, and verify financial reports and taxes, and monitor information systems that furnish this information to managers in business, industry, and government. The major fields of accounting are Public accountants who have their own business or work for public accounting firms. They perform a large range of responsibilities such as doing taxes, numerous accounting and auditing, consulting activities for their clients, who may be corporations, governments, nonprofit organizations, or individuals.
Management accountants also called industrial, corporate, or private accountants record and analyze the financial information of the companies for which they work with. Other responsibilities include budgeting, cost management, and asset management. These accountants analyze and interpret the financial information corporate executives use to make sound business decisions. Internal auditors are very important to our system. When companies make information more timely, top management base their decisions on actual data, rather than their personal opinion.
So these auditors verify the accuracy of their organization’s records and check for mismanagement, waste or fraud. Government accountants maintain and examine the records of government agencies, and audit private business and individuals whose activities are subject to government regulations or taxation. All ranks of government accounting sees that revenues are received and expenditures are made in accordance to laws and regulations. Many who have a background in accounting work for the federal government as Internal Revenue Service Agents.
Within each field, accountants often concentrate on one aspect of accounting. Jonda Dunn who I interviewed works for B. Lee Hubbard and Company in Jackson, Ohio. She has worked there for six years and enjoys her job. She has received a bachelor’s degree in accounting and minored in Computer Science. She chose this career because she loves math and numbers. Mrs. Dunn deals with payrolls, bank reconciliation’s, and financial statements. In accountants working conditions they are usually placed in an office setting. Self employed accountants are able to do part of their work at home instead of the office.
Those who may be employed by public firms and government agencies may travel frequently for the branches of the firms. Most accountants work about a 40- hour week. If they are self-employed then they may work more or less depending on who much work they are willing to take on for the clients. The employment outlook for accountants who have earned a professional degree through certification or licensure should have the best jobs. Applicants with a mater’s degree in accounting, or a master’s degree in business administration with a concentration in accounting, may also have a stronger advantage in the job field.
Employers of many businesses always seek well-rounded applicants with strong interpersonal skills. Competition with in the fields of accounting will always remain at the top for the most prestigious jobs with the bigger firms. The employment for accountants is expected to grow about as fast as the average occupations through the year 2006. The need to replace the jobs of people who retire or transfer to other jobs will continue to grow annually. Also as the company grows the number of businesses established will increase. Do to the increasing companies and occupations the changing role of accountants will also spur job growth.
Accountants will perform less auditing work and less tax work due to growing competition from tax preparation firms, but they will offer more management and consulting services in response to demand. Accountants will take a greater role as they develop more modern and flexible accounting systems, and focus more on analyzing operations rather than just providing financial data. To be an accountant you must have the certain training and skills to be successful. Most accountant positions require at least a bachelor’s degree in accounting or a related field.
Based on the recommendations made by the American Institute of Certified Public Accountants. Some states require CPA candidates to complete 150 semester hours of college course work and it will be a requirement in the near future. Most schools have change they curricula accordingly, and accounting major should carefully research accounting curricula and the requirements for any states in which they hope to become licensed before enrolling. Some employers prefer applicants with a master’s degree in accounting, or a master’s degree in business administration with concentration in accounting.
They also prefer applicants who are familiar with computers. For beginning accounting positions in the federal government, four years of college or an equivalent of combination of education and experience is required. Professional recognition through certification or licensure provides distinct advantage in the job market. The vast majority of the states require CPA candidates to be college graduates, but few states substitute a certain number of years of public accounting experience for the educational requirement.
All states use the four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants. A person planning a career in accounting should have an aptitude for mathematics; be able to analyze, compare, and interpret facts and figures quickly and make sound judgments based on this knowledge. They must be able to clearly communicate the results of their work, orally and in writing to clients and management. Accountants must be good working with people as well as with business systems and computers.
Accuracy and the ability to handle responsibility with limited supervisions are important. The projected earnings for accountants vary. According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting receive starting offers averaging $34,500 a year in 1999; master’s degree candidates in accounting, $36,800. Certain staffing services firms specializing in accounting and finance with up to one year of experience could earn between $26,000- $36,250 in 1999. Those with one to three years of experience earned between $29,250- $41,250.
Senior accountants and auditors earned between $34,750- $51,000; managers earned between $41,750-$68,500; and directors of accounting earned between $56,250- $91,000 a year. The variation of the salaries depends on the size of the firm, location, level of education, and professional credentials. My goals and timeline for the next forty year starts now. I am taking each day at of time in college to prepare what lies ahead of me in the future. I plan to work hard in all my classes even though some classes may not reflect on my major it will still lead me to get my bachelor’s degree in accounting.
Getting that degree will not be for the next two or three years but it will happen. While I’m still in school I would like to do internships with companies in the bigger cities like Columbus or Cleveland just to a get feel for the field. Then as soon as I get my diploma in my hand I am hoping to be already employed with a firm. While I am working I will also like to go back to school part-time and receive my master’s. From that I’m hoping I could move up further in the firm and get paid more. Once I have my job settled that is when I would like to then get more serious in a relationship.
Serious being that I would like to get married and have a child at the age 25. From there on I would like to be the best working women, mother, and wife I could be. I figure I wouldn’t retire for a long time because each year as technology increases my knowledge for that will grow bigger. I know it will be hard to have kids get married and stay focused with my career but I’m sure I can mange anything that comes along my way. Future events, issues, and laws will have a huge impact on society. For example the events of the World Trade Center made and impact on many accounting firms that where near by.
Such as if they had family in the disaster or even if the companies were just in the city many did not go back to work for days which slowed down production. Though many things could happen in the future. People could be able to rely on their instinct on how to manage their money or companies who rely on accounting to firms to do their records could hire with in. Then they would not need that firm to do all their paper work. As time goes by many laws could change on getting your degree in accounting.
The requirements such as your classes could get much harder and more computer classes could be mandatory. Pay could go up and down and if pay goes down and the curriculum gets harder not many individuals will wan to get a degree in accounting. The number one company I would love to work is Ernst & Young. It so one of the world’s leading professional services organizations, helps companies across the globe to identify and capitalize on business opportunities. They aim to deliver innovative yet practical solutions, from concept through implementation and measurement.
Ernst and Young’s depth of service and global reach mean that they have the resources to serve any client, anywhere in the world. Ernst & Young audits 8. 4% of Business Week’s Global 1,000 companies and their worldwide tax practice is a world leader. They also work with entrepreneurial growth companies and their owners and investors, and have a global corporate finance network that coordinates more than 4,000 professionals in 31 countries. They are located 787 7th Avenue, New York, NY 10019, (212) 830-6000. Their worldwide revenue: $5. 0 billion.
CPA employees: 10,711. The next company I would like to work is Deloitte and Touche, one of the nation’s leading professional services firms. They provide assurance and advisory, tax, and management consulting services through 30,000 people in more than 100 U. S. cities. The firm is dedicated to helping clients and our people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the “100 Best Companies to Work For” in America by Fortune magazine for four consecutive years.
Deloitte & Touche is a member of Deloitte Touche Tohmatsu, a Swiss Verein, with each of its national practices acting as a separate and independent legal entity. With more than 90,000 people in over 130 countries, the members of Deloitte Touche Tohmatsu are dedicated to delivering world-class service to their world-class clients. They are located 10 Westport Road, Wilton, CT 06897, (203) 761-3000 but they also have numerous offices throughout the United States. Their worldwide revenue: $4. 2 billion. CPA employees: 8,600.
My last choice to be employed is at BDO Seidman, which is a national organization, focused on serving clients through business lines: Tax; Assurance; Financial Advisory Services and Wave Bend Solutions. Through leadership in Tax consulting, clients benefit from an unparalleled approach to tax planning, consulting and compliance and experience in transaction structuring to help reduce tax consequences. The practice employs a service philosophy of extensive partner involvement to provide insightful and constructive suggestions for improving clients’ business strategies, management information, operating and accounting procedures and controls.