To be an accountant, you require a love of numbers, a fondness for reading reports, and an eye for details. While some accountants work on their own, the majority are part of a team. Working well with other people is equally important.
The role of an accountant
People who choose accounting as a career should possess the skill set for the following tasks:
- Monitor the income and expenses of an organization.
- Prepare profit and loss statements and reports to a Chief Financial Officer (CFO) or clients to establish profitability.
- Analyze and correct reports for discrepancies.
- Supervise the accounting department.
- Explain billing procedures or other basic bookkeeping procedures to other staff, if needed.
- Provide statements and reports to the internal or external auditing team.
- Comply with federal, state and local tax guidelines.
Initial training can be gained by taking a two-year course in bookkeeping or accounting, but to practise as an accountant, a Bachelor’s degree is required. This degree can be in arts or science or any other discipline. If you’ve set your sights higher than a mere entry level job, earning a Bachelor’s degree in accounting and auditing is recommended.
Other than training in financial management and tax laws, an accounting degree teaches research skills, problem solving, knowledge of accounting technology and software, and project management.
If you’re looking to get a high paying job, you will have to earn a Certified Public Accountant (CPA) certification. In 45 States, 150 semester hours are required after earning a Bachelor’s degree in order to apply for certification. With this certification you’ll have a distinct advantage in securing management jobs.
The United States Bureau of Labor Statistics (BLS) expects an increase of 22 percent in accounting and auditor positions. The best paying markets are identified as:
- Tax preparation
- Payroll services
- Government (state and local)
Contrary to popular belief, not all accountants are geeks or nerds. Intelligence balanced with social skills allows many accountants to become partners in firms or executives such as a CFO or Chief Executive Officer (CEO).