Accounting Careers

From managing celebrities' finances to investigating fraud for the government, accountants have an array of job opportunities. Accountants help individuals and businesses manage money, pay taxes, and meet financial goals, and they work in virtually every industry, from fashion to nonprofit. Find out more about job opportunities for accountants, the outlook for accounting careers, and what it takes to get started.

Pursuing a career in accounting can lead to a position as a financial manager at a Fortune 500 company, a personal financial advisor in private practice, or an investigator who works with the FBI. Explore some of the common career opportunities for accountants.

Data Source: BLS & Occupational Information Network, 2018

Positions in accounting and related fields, such as auditing and personal financial advising, are growing at a faster than average rate, according to the Bureau of Labor Statistics. As demand for accountants increases and baby boomers retire from accounting positions, companies are offering higher salaries and other incentives to recruit new hires - according to the Robert 2016 Salary Guide for Accounting and Finance, accounting salaries increased between 4.0 and 5.3 percent from 2015 to 2016. Take a closer look at salaries for various accounting roles:

Salaries in accounting can also vary based on level of experience, skillset, and education. The more professional work experience you have in the field, the more likely you are to earn a higher salary. Similarly, if you have the right skills and education, you're likely to see a bump in pay as well.

Source: PayScale.com

Accountants need a variety of skills to succeed, from mathematical analysis to interpersonal skills. According to the AICPA, accounting may be a good fit if you have the following skills or attributes:

• You have strong math skills and enjoy managing money
• You can adopt and use new technology easily
• You have excellent written and verbal communication skills
• You're a problem-solver and enjoy logic problems
• You're interested in business and assessing the risks involved with investing in or running one
• You've demonstrated leadership skills, such as taking a board position for an organization or teaching someone

Not all accounting positions require a college degree, but many careers require a bachelor's degree in accounting or a related field, such as finance or business administration. At a minimum, accountants should have some education in mathematics and computer skills. Here are some degree options at the undergraduate level:

Another option is to earn a more advanced degree and become a certified public accountant (CPA). In most states, accountants who want to become CPAs must complete 150 credit hours at an accredited college or university. Some states also require CPAs to take a number of credits in accounting, auditing, and tax-related coursework, according to the American Institute of CPAs (AICPA). A graduate degree is not required to become a CPA, but, according to AICPA, many accountants may find obtaining one of the following degrees can be helpful in achieving career goals:

Many colleges also offer certificate programs in accounting for those who may not want to pursue a degree, such as anyone looking to enter the profession quickly or those considering a career change. Students usually complete these programs in one to one and a half years. Programs cover the most current information on accounting principles and practices, reporting, and regulatory requirements.

Some colleges also offer shorter, more specialized, noncredit certificates to help students boost resumes. For example, City College of San Francisco offers the following programs:

• Computerized Accounting Specialist Certificate
  Students learn spreadsheet functions to help with the preparation of financial reports as well as computerized record maintenance.

• Accounting Assistant Certificate
  Prepares students for entry-level assistant roles in accounts payable and accounts receivable.

• Specialized Skills Certificate
  Students can gain basic knowledge in specialized areas of accounting, such as income tax preparation, accounts receivable and payable, and QuickBooks.

Accountants may choose to specialize in a certain area, such as the environment, or a certain aspect of accounting, such as personal financial planning. Here are some specializations accountants may choose to pursue:

• Business valuation
  Accountants in this specialty assess the value of an owner's interest in a business. The AICPA offers an Accredited in Business Valuation (ABV) credential for accountants who specialize in this area.

• Environmental accounting
  Environmental accountants examine the effects business activity has on the environment. These professionals may work in resource-intensive industries, such as mining, manufacturing, and energy, or for non-profit or governmental organizations. According to the Association of Chartered Certified Accountants, more small and mid-sized organizations are likely to employ environmental management accountants in the future as environmental costs to businesses increase.

• Forensic accounting
  Forensic accountants perform investigations, generally to detect fraudulent activity, to assist in lawsuits. Accountants who specialize in forensics typically have one to three years of general accounting experience and may become Certified Fraud Examiners (CFEs). Forensic accountants with a CFE can earn 25 percent more than those without the credential, according to the Association of Certified Fraud Examiners (ACFE).

• Personal financial planning
  This specialty focuses on planning, from retirement to investments to taxes. Accountants who specialize in personal financial planning may run their own practices or work for a finance or insurance company. According to the Bureau of Labor Statistics (BLS), personal financial advisor jobs are expected to grow by 7 percent from 2018 to 2028, just a bit faster than average. The job growth will likely be fueled predominantly by baby boomers seeking financial planning assistance as they approach retirement.

Accountants may choose to become licensed as Certified Public Accounts (CPAs). The CPA credential isn't required for all accounting jobs, but earning one can help accountants distinguish themselves from other candidates and may help them garner a better salary—professional certification can increase accountants' salaries as much as 40 or 50 percent, according to the Robert Half 2018 Salary Guide for Accounting and Finance. Here is a list of basic requirements for aspiring CPAs:

• Relevant experience
  Candidates must have a certain amount of education or professional experience to take the CPA exam. Each jurisdiction has its own requirements for eligibility, but the majority of states require 150 credit hours of education at an accredited college or university, according to the AICPA.

• The CPA exam
  Candidates who meet the education and/or experience requirements in their jurisdiction may take the Uniform CPA exam, offered during eight months each year. The exam is offered in all U.S. states, as well as the District of Columbia, Puerto Rico, U.S. Virgin Islands, and Guam. It consists of four parts:

  • The Auditing and Attestation (AUD) section examines candidates' knowledge of auditing standards and procedures
  • Business Environments and Concepts (BEC) ensures candidates understand the reasons for business transactions and how they affect accounting
  • Financial Accounting and Reporting (FAR) covers accounting principles that apply to businesses, not-for-profit organizations, and government
  • The Regulation (REG) portion focuses on federal tax laws as well as legal and ethical standards for the accounting profession
  • Candidates are not required to take all four parts of the exam at once but must pass all parts within 18 months.

• Licensure for CPAs
  Passing the exam isn't the final step to becoming licensed as a CPA. After passing the exam, accountants typically have to meet additional work and education requirements to become licensed as public accountants in their state or jurisdiction. CPA licensure requirements also vary, but most states mandate at least two years of public accounting experience, according to the AICPA.

CPA is just one type of certification that accounting professionals can pursue. There are several certifications available in the following subfields:

• Public accounting
• Corporate accounting
• Government
• Banking and financial services
• Personal financial management
• Audit, Fraud, and Risk Management
• Operations Management
• Tax
• Information Technology
• Credit
• Payroll

According to Robert Half, examples of other in-demand certifications include:

• Chartered Global Management Accountant (CGMA)
• Certified Management Accountant (CMA)
• Certified Information Systems Auditor (CISA)
• Certified Fraud Examiner (CFE)
• Chartered Financial Analyst (CFA)

Accountants work in a variety of settings, from private practices to large corporations. Here are some common workplaces for accountants:

You can find accounting jobs posted on most major job boards, such as LinkedIn and Indeed. But you don't have to limit your search to the big job sites-check out some of these specialized websites that cater to accounting professionals:

• Robert Half and Accountemps
  Job seekers and employers can take advantage of the services and resources offered by Robert Half and Accountemps, the first and largest temporary staffing company for accounting and finance professionals.
• AICPA Job Board
  This is the official job board of the AICPA. Job seekers can browse through openings and get up-to-date information on events that can help with the job hunt.
• iHireAccounting
  This job board is dedicated to the accounting field. Job seekers can post their resume, get matched with relevant openings, and get the most current accounting career advice.
• National Association of Black Accountants, Inc.
  NABA, Inc. is a nonprofit membership association dedicated to encouraging people of color in business-related fields, including accounting. The association's career center features several job openings and job search resources.
• Randstad
  Randstad is the third largest staffing organization in the U.S. and a global provider of HR services. The organization specializes in a number of industries, including finance and accounting.
• The Professional Accounting Society of America
  PASA is a professional accounting society that serves entry-level and mid-level associates. On its job board, applicants can find jobs across the U.S. and new postings are added almost every day.

Internships are a great way to find out if a career in accounting is right for you as well as gain valuable, relevant experience. You'll get on-the-job training and establish a network of professional contacts. Some businesses use internship programs as a way to recruit future employees, so your internship could land you a full-time offer.

If you're studying accounting at a university, your career resources office may be able to help you find an internship or employers may come to campus to recruit interns. You can also check out accounting organizations, like the American Institute of CPAs Internships and Cooperative page, for general information about accounting internship programs.

To land an accounting internship, you'll need to create a strong resume, highlighting your strengths and experiences. You'll also need to complete one or more interviews with the organization sponsoring the internship. Visit the websites of organizations where you're interested in interning for more details about eligibility and how to apply. Below is a sample of some accounting internship opportunities:

BKD Audit Internship

Location: BKD, Erie, PA

BKD, a national audit and advisory firm, offers full-time and part-time internships in audit and tax accounting during the spring and summer semesters. Internships are available in several locations nationwide. Interns may complete audit testing, prepare tax returns and join client meetings.

Corporate Accounting Intern

Location: Hyatt, Chicago, IL

Interns in this program will learn about Sarbanes-Oxley compliance requirements, month-end-account reconciliation and optimizing accounting procedures while working with the Hyatt Corporate accounting team.

Internal Audit Intern

Location: Compass Minerals, Overland Park, KS

This full-time internship, which runs from May through August, offers hands-on experience with internal control systems and operational audits.

Intern - Tax Consultant

Location: True Partners Consulting, San Jose, CA

Interns at True Partners Consulting are trained in various aspects of taxation to prepare them to work on consulting projects. Interns work part-time or full-time in the firm's office.

Tax Internship

Location: CBS Corporation, NY

Tax interns at this mass-media company focus on preparing tax information for state and federal tax returns, responding to tax notices and working with different kinds of tax programs. This is a year-long internship program, requiring full-time summer hours and part-time hours during the spring and fall.

Whether you're an aspiring accountant looking for a scholarship or an experienced accounting professional moving into a leadership position, professional associations offer resources that can help you reach your career goals.

Many accounting organizations keep members informed about industry news and trends, offer continuing education and career development courses, share job listings for accounting positions, and give members the opportunity to grow their professional networks at conferences and events. Some associations, such as the AICPA, provide information and resources for students pursuing accounting degrees and preparing for the CPA exam.

Some of the top associations for accountants include:

• Accounting & Financial Women's Alliance
  This association, founded in 1938 to increase opportunities for women in accounting and finance, aims to help women reach their full potential as accountants. The AFWA has chapters across the country and hosts a national conference every fall.

• American Accounting Association
  The AAA is focused on accountants working in academia. The association currently has more than 7,000 members working in 75 countries.

• American Institute of CPAs (AICPA)
  With more than 412,000 members, the AICPA calls itself the "world's largest member association representing the accounting position." AICPA members work in a variety of sectors, including business, government, and education.

• American Woman's Society of Certified Public Accountants
  This association is dedicated to helping women CPAs navigate career and life transitions, such as having children and retirement, and to advocating for gender equity in the profession. Currently part of the American Institute of CPAs, the AWSCPA offers regional networking events, scholarships for female accounting students, and awards to recognize women in accounting.

• The Association of Accountants and Financial Professionals in Business (IMA)
  Previously known as the Institute for Management Accountants, this worldwide association is for accountants working in business. The IMA offers a Certified Management Accountant (CMA) credential and several publications about financial and management topics.

• National Association of Black Accountants, Inc. (NABA, Inc.)
  More than 20,000 professionals working in accounting, finance and business-related fields are members of NABA, Inc., an association that focuses on African Americans and people of color. NABA, Inc., aims to advance the careers of its members with education and career connections.

• The National Society of Accountants
  The National Society of Accountants represents accountants and tax professionals who work in public accounting. The association has a strong focus on regulatory issues that determine who can practice accounting.

• National Society of Accountants for Cooperatives
  This specialized accounting association is for accountants and other professionals involved in financial management of cooperative businesses, which are owned and operated by the people who use their services. The NSAC has about 2,000 members.