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Information about Accounting Programs
Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They analyze and communicate financial information for various entities such as companies, individual clients, and government. Beyond carrying out the fundamental tasks of the occupation—preparing, analyzing, and verifying financial documents in order to provide information to clients—many accountants also offer budget analysis, financial and investment planning, information technology consulting, and limited legal services.
Accounting Job Types:
Public accountants
Management accountants
Government accountants and auditors
Internal auditors
Education Required for Accountants
Most accountants and auditors need at least a bachelor’s degree in business, accounting, or a related field. Many accountants and auditors choose to obtain certification to help advance their careers, such as becoming a Certified Public Accountant (CPA).
Beginning accounting and auditing positions in the Federal Government, for example, usually require 4 years of college or an equivalent combination of education and experience. Some employers prefer applicants with a master’s degree in accounting, or with a master’s degree in business administration with a concentration in accounting. Some universities and colleges are now offering programs to prepare students to work in growing specialty professions such as internal auditing. Many professional associations offer continuing professional education courses, conferences, and seminars.
As of 2007, forty-two states and the District of Columbia required CPA candidates to complete 150 semester hours of college coursework—an additional 30 hours beyond the usual 4-year bachelor’s degree. Several other states have adopted similar legislation that will become effective before 2009. Colorado, Delaware, New Hampshire, and Vermont are the only states that do not have any immediate plans to require the 150 semester hours.
Employment Outlook for Accountants
Strong growth of accountants and auditor jobs over the 2006-16 decade is expected to result from stricter accounting and auditing regulations, along with an expanding economy. The best job prospects will be for accountants and auditors who have a college degree or any certification, but especially for those who have their CPA.
Employment of accountants and auditors is expected to grow by 18 percent between 2006 and 2016, which is faster than the average for all occupations. This occupation will have a very large number of new jobs arise, almost 226,000 over the projections decade. An increase in the number of businesses, changing financial laws, and corporate governance regulations, and increased accountability for protecting an organization’s stakeholders will drive growth.
Earnings and Salaries for Accountants
Median annual earnings of wage and salary accountants and auditors were $54,630 in May 2006. The top 10 percent earned more than $94,050.
According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting received starting offers averaging $46,718 a year in 2006; master’s degree candidates in accounting were offered $49,277 initially.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2008-09 Edition, Accountants and Auditors, on the Internet at http://www.bls.gov/oco/ocos001.htm
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