Accounting Careers

Would accounting be a good undergraduate degree for you? Accounting involves helping businesses and individuals keep track of their profits and expenses. Accountants use many tools and perform many functions to help businesses stay on track. Because all businesses need skilled professionals to help manage their money, accounting careers can be found in almost all companies, which means that this field is rapidly growing. In addition, those looking for accounting careers can find a variety of specializations within the field. Accounting is always among the top undergraduate careers.

Accounting careers can be found in specializations such as audit, budget analysis, finances, management and taxes. Accounting careers in auditing involve reviewing companies’ financial statements and ensuring that they are being reported accurately. Auditing allows accountants to see clearly how companies make money. Those in the budget field create financial plans and often work for the government. Financial accounting careers require a strong background in both finance and accounting. The work can vary but often involves creating financial statements, running spreadsheets and developing financial projections. Those in management accounting analyze costs, review budgets and make sure costs are being controlled efficiently. Tax accounting careers require a strong knowledge of the tax code as well as a background in economics. Some large companies prefer accountants with a background in law. Tax accountants prepare income tax statements and determine how to expense items and defer taxes.

Accounting careers can be pursued in public accounting firms, corporations and government agencies. Many accountants choose to work for themselves; although this can translate into high salaries, there are huge risks because accountants also have to generate their own business. Those interested in accounting careers have the potential to earn a very high salary. Although entry-level positions start out with salaries at around $50,000 annually, that salary can increase quickly after several years of experience. Those with three years of experience average around $70,000 a year, with those at management level averaging $85,000. Those with 10 or more years of experience, and who are considered a top partner at a major accounting firm, can earn six figures or even annual salaries exceeding $1 million.