Accountant Career

Sam Walton made this quote as a reference to the early methods of accounting in the U.S., “If you can't make your books balance, you take however much they're off by and enter it under the heading ESP, which stands for Error Some Place”. An accountant career has gotten a lot more sophisticated since then and is well structured and organized today.

What is an Accountant?

There are several definitions for an accountant, but for our purposes an accountant can be described as an individual that is responsible for ensuring that economic information about an organization or any other body or entity is well prepared and communicated in a fashion that allows other people to make informed deductions and decisions about the organization.

Accountant Job Duties

An accountant has to identify, calculate, record and then communicate the financial data that allows an informed judgment on the performance of an organization. These duties span over four areas: management accounting, government accounting, public accounting and internal auditing. Specific duties are dependent on the area of specialty and include: taxation, budgeting, performance evaluation, investigation of financial crimes, asset management and a myriad of other duties.

Accountant Skills

The necessary skills required for an accountant career include: mathematical proficiency, astute analytical abilities, patience and attention to details, in addition to the possession of strong writing and communication skills. All these traits are necessary for the performance of the duties required and expected of an accountant and are very beneficial to having a successful accounting career.

Accountant Education

The minimum educational requirement is a bachelor’s degree in accounting or another related field. Sometimes specific positions require a master’s degree in accounting or business administration. A number of institutions in the country also offer specific accounting education such as in public accounting. In addition to these, professional certifications and state licensing are also essential to progressing in an accounting career.

Accountant Salary

In May 2009, the median annual salary for accountants was placed at $60,340. The bottom ten percent earned a little less than $37,690 annually and the top ten percent earned about $104,450. Workers in between these categories earned between $46,740 and $79,470 annually. Industry wise, accounting, tax preparation, bookkeeping and payroll services accounted for the highest annual mean wage.

Accountant Job Outlook

A career in accounting has a prospective outlook considering how essential and relevant it is to virtually all fields. At least the growth potential in terms of job prospects has been placed above average with an estimated 22% increase by 2018. This is due to the integral role that accountants play in all industries. The more the economy expands, the higher the need for more accountants to keep track of this growth.

In conclusion, pursuing an accountant career is undoubtedly tasking and requires a great deal of preparation and dedication in order to stay proficient and relevant. However, it is also rewarding in terms of average financial remuneration and employment outlook since there will always be a need for accountants.