Great Jobs for Accounting Majors
Certainly, you can earn your bachelor's degree and sit for the CPA exam; in fact, that's what you'll need to do to practice as an accountant. But, just as every other field, accounting has fragmented and become more specialized, more expert, and to differentiate yourself on the job market, a specialization is the way to do it. The best colleges and university business and accounting schools with offer many specializations, including interdisciplinary specializations like forensic accounting, actuarial science, and accounting IT.
Double majors, or accounting majors combined with different minors like computer science or international studies with also add value to a job application. Whether you are a working professional going back to school to get a bachelor's degree, or you're a young person just starting on their 4-year journey, have no fear — there are some highly rewarding, and highly in-demand, careers in accounting that you can get with a bachelor's degree.
With almost all banking, trading, and other financial transactions going online, there's never been more potential for fraud, embezzlement, identity theft, and scams that make good old-fashioned check kiting look quaint. That's why forensic accounting is one of the most in-demand specialties in accounting today. Forensic accountants produce audits of a company, government or non-profit records to determine liability, fraud, and valuation.
These are the people who determine if a company or person falsifies their bookkeeping, provides evidence for court cases, produces calculations for insurance companies to determine amounts owed, and computes estate tax valuations. With so much demand on the job market, colleges and universities across the nation are adding forensic concentrations to their bachelor's degree programs. An increasing number of these programs are available fully online, from regionally accredited and nationally recognized universities. Although this position does not require a graduate degree to break in, forensic accountants do need to hold a CPA license and be licensed as a Certified Fraud Examiner.
An accounting grad with a good head for the stock market may be on their way to becoming a financial analyst. In this position, accountants determine the risks and benefits of investment activities, including both selling and buying investments.
The Highest Paying Accounting Jobs
Job duties can include examining financial gain and loss of specific stocks, mutual funds, estates and other investment types. Financial analysts prepare reports and make recommendations based on analyzed data and market trends on whether clients should engage in purchasing or selling an investment holding. For students getting their bachelor's degree in accounting who want to become financial analysts may want to consider a double major, in accounting and finance. Because these specializations go so well together, there are many business schools that combine them as well; if you find success with a bachelor's you may keep going to get an online MBA in Accounting and Finance as well.
Most financial analysts must hold a license from the Financial Industry Regulatory Authority. Accounting majors can combine their passion for numbers with a passion for the environment in a career as an environmental accountant. By analyzing impacts on the environment from company decisions and the overall environmental impacts, environmental accountants produce reports and make recommendations for projects and business or governmental decisions.
These accountants can also determine fiscal impacts of new regulations or perform cost-benefit analyses to determine the fiscal strength of a project.
An environmental accountant needs a strong grounding in accounting, obviously, but also in environmental science, government, and public policy. Specializations in environmental accounting are rare, but becoming more common as more companies see the need for environmental accountants.
40 Top Paying Accounting Jobs
As climate change and environmental regulations make the cost of environmental impacts front-and-center for numerous fields, we will see more demand for accounting experts who can see the big picture of business, environment, and regulation clearly. Becoming a personal financial advisor now is a smart investment in the future — people are always going to need someone to help them and their families make the best financial decisions to achieve their goals and prepare for the future. AP and AR clerks also perform periodic reconciliation, with management oversight.
A managerial accountant is responsible for looking after internal accounts, such as payables, receivables, budgeting, assets, auditing or strategic planning. They may also prepare periodic reports. Accountants can choose from many different types of government jobs, at the local, state and federal levels. Accountants in these roles often oversee procurement and contracts, budgets, and other financial affairs of government entities.
Highest Paying Accounting Jobs | Accountant & Bookkeeper Guides | Xero US
Professionals in government roles must be familiar with fund accounting processes because budgets are often earmarked for specific activities. A financial analyst reviews accounting numbers to identify trends, and to try and find the underlying causes.
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The professional often prepares revenue and expense analyzes. They also develop projections and reports of periodic financial data. The tax manager at a corporation oversees compliance with federal and state tax regulations, including:. They also create reports for state and local jurisdictions in which the business has sufficient physical presence or nexus.
What To Do with an Accounting Degree
The role of internal auditor is increasingly important for businesses with regulatory oversight and reporting requirements. The primary duties include evaluation of risks, improving operations and maintaining financial controls.
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These auditors examine financial statements for compliance and accuracy, assess financial operations, and track operational performance. Salaries range widely.
Forensic accountants investigate financial irregularities or crimes, and often help litigators. These specialists comb through the books of companiesto find where, when and how the money went missing. Most college professors took their positions after earning a PhD and a dedicated academic career.
Education for Accountants
However, some professional accountants choose to teach accounting courses at local universities or community colleges, or even high schools. The highest paying accounting jobs in academia go to full accounting professors.
The Chief Financial Officer CFO — or sometimes Chief Accounting Officer — of a business is responsible for the overall financial strategy, from planning and record-keeping, to government reporting and taxs. CareerExplorer rates accountants with an A- employability rating, meaning this career should provide great employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need , accountants.
That number is based on , additional accountants, and the retirement of 5, existing accountants. Employment growth of accountants is closely tied to the health of the overall economy: as the economy grows, so, too, does the number of enterprises requiring professionals to manage books, prepare taxes, and provide management advice.
Globalization of businesses and economies; international mergers and acquisitions; changing laws and governance regulations borne of financial crises; increased accountability and transparency for protecting stakeholders; and corporate fraud all create a stable demand for skilled accountants. In addition, the movement towards a judgment-based system used to determine the fair market value of assets and liabilities — International Financial Reporting Standards IFRS — should increase the demands for the specialized auditing and financial reporting expertise of accountants.
Forensic accountants will be needed to detect illegal financial activity.