How To Become An Accountant
The basic definition of an accountant is someone who maintains financial records and files taxes for individuals and businesses. The actual job of being an accountant encompasses so much more than that simple definition. An accountant’s office can be somewhere individuals and businesses take their tax documents for filing. An accountant can also be someone on the staff of a business who keeps the books, keeping an eye on the company’s bottom line to make sure profits go up and expenses stay down. An accountant can also be the back bone of a non-profit organization; making sure donated funds are distributed where they are supposed to go. Essentially, accountants are very important people who are trusted daily with accurately recording and tracking financial information.
The most successful accountants show an aptitude for math and an inherent attention to detail, lack of accuracy in this profession can mean an audit or fine for a client. While accounting clients in days of old were familiar with their CPA using a hand adding machine or calculator, today’s accountants must utilize modern tools such as computers and accounting programs. It is highly recommended for any potential accountant to become familiar with as many accounting programs as possible. Diversity of knowledge regarding accounting programs can be a major asset during a post graduate job search.
Educational Requirements for an Accounting Degree
High school students who are interested in becoming accountants should work with their guidance counselors early. Working toward applying for colleges with accounting programs generally requires specific math courses and grades. Students who do not show an early aptitude for advanced math may have difficulty with college level math and accounting courses.
It is best for any potential accountant to decide early in their college career which field they will work in after graduation. There are multiple major fields to work in such as public accounting, government accounting and management accounting. Each major accounting field has minor career paths to choose, with each field requiring different college courses to complete.
Important extra curricular education for a college accounting student is internship in an accounting position with a major company. Any internship should be done during the summer, outside of classes, when the student can concentrate on full time work in their chosen field. There are a large number of companies that will only hire new accountants who have had some internship experience prior to graduating.
The final educational step for any accountant is to obtain their CPA certification from the state in which they plan to practice. This last step is completed by passing the Uniform Certified Public Accounting Exam, which cannot be taken by anyone without a bachelor’s degree in accounting and some type of experience in the accounting field.
Companies will usually only hire accountants who are also CPAs, or certified public accountants. All states require a potential CPA to have at least a bachelor’s degree in accounting or related business course prior to taking the CPA exam. Colleges chosen for their accounting programs should also be accredited by their state to offer courses that are approved for the CPA exam. Many states require at least 150 semester hours to complete an accounting degree. An excellent resource to find out exactly what each state requirement is for the CPA exam is the American Institute of Certified Public Accountants, www.aicpa.org. This professional organization’s site also offers information on accounting profession requirements.
How to Start and Accounting Career
There is an expansive list of career paths an accountant can select when selecting employment. There are simple accounting jobs that entail basic record keeping and filing individual tax returns to complex forensic accounting jobs for the IRS and law enforcement agencies. A certified public accountant can also be called upon to dissect complex financial records for court bankruptcy hearings. As opposed to the historical depictions of the boring accountant, modern day CPAs hold some of the most security sensitive and high power positions in the world. Not only are CPAs potentially responsible for convictions and acquittals in criminal cases, accountants are some of the most trusted financial advisors consulted by CEOs of major corporations.
The best way to find a position as an accountant, either as a new graduate or as a more experience professional, is still the employment advertisements. Submitting a resume and cover letter to companies seeking to fill a position in their accounting department is the most efficient way to get an interview. Polishing a competent, accurate resume will often make or break a job opportunity. It is most important to gear any job search toward the field in which an accounting degree was obtained. An accountant educated in forensic accounting will have a more difficult time finding a position as a tax accountant than a graduate with an education in tax accounting.
A slightly less traditional method for finding an open accounting position is to join the staff of a temporary employment agency. This allows accounting professionals to “test drive” a company to match up with the perfect employment fit. It can also allow an accountant to hone their skills without locking into a set career path. Hard work and professional accuracy can often turn a temporary position into a permanent career.
Why Be an Accountant?
There are many rewards to the profession of certified public accounting. There is the variety, an accounting professional can be educated and certified in a multitude of disciplines. From individual bookkeeping and tax returns to non-profit and large corporate financial advising, accountants hold a large amount of responsibility and trust. In some cases, businesses and individuals will trust their accountant with their entire financial well being. Accountants are often responsible for budgeting and finance tracking for corporations, along with cost analysis and financial statement verification for shareholders and lending institutions. Anyone with an early aptitude for math and an eye toward accuracy should investigate the possibility of a career as a certified public accountant.