The number of accounting jobs is projected to rise 18 percent between 2006 and 2016, according to an article published by Forbes. An accounting degree has risen in value because every business needs an accountant to function successfully in the long-term. Having an accounting degree creates many new opportunities. It can be used to help a small practice, large corporation, or simply by creating a business for yourself.
With this type of higher education, a person not only learns the intricacies of numbers and finance, but also how to analyze reports, improve business operations, and foresee potential problems within a company. This kind of skill opens the door for an endless amount of opportunity, but here are five popular ways people choose to use an accounting degree:
1. Certified public accountant (CPA)
Salaries are generally higher in any industry when a person receives higher education, and a CPA is one of the most common routes a person chooses to take in this field. In addition to pursuing a master’s degree in accounting, many students choose to take the certified public accountant exam, which companies will often pay for in part or in full. CPAs have the opportunity to work in a wide variety of organizations including:
- private clients;
- tax agencies;
- and government offices.
2. Internal auditor
Auditors verify the internal operations of an organization and analyze and report on its effectiveness, mismanagement, and suspected fraud. Businesses may choose to hire an auditor during a merger or acquisitions and government agencies use auditors to take a deeper look into businesses under investigation.
Often, small businesses or entrepreneurs seek bookkeepers to keep their invoicing and taxes current and accurate. A bookkeeper who is up-to-date with the use of online software typically has an advantage for people who now mostly file taxes via the internet. A bookkeeper may work for one company or choose to have several clients at once.
Employees of this type of service are trained to help those who need tax payment relief when there is debt owed to the IRS. With tax resolution services, people who are in need of a payment plan can discuss options with a reputable tax resolution company. In addition, relief solutions may include:
- reducing tax debt;
- reducing IRS penalties;
- avoiding or resolving tax liens;
- and filing appeals to the IRS.
An accounting department often will work closely with a human resources department of a company and in some cases, the two may be housed in the same office. A person must understand the employment laws of the state and the amount of taxes to be deducted both for the employees and for the business itself, if the same accountant is used. Again, online savvy working with payroll programs is a boost to a person’s skillset in this field.
An accounting degree can open up job opportunities in several business areas and each position will carry its own set of pros and cons. Some people may prefer to work independently, while others may thrive on being part of a corporate environment.
Many rise up the ranks in their companies to eventually become managers or directors of accounting departments, where others are able to use their education and work experience and become teachers in the field. The ways in which a person can utilize their accounting degree are vast and will continue to be one of the leading career paths in the country.