Career Options in the Accounting Industry

When you choose the accounting industry as the area where you want to work when you graduate, there are many opportunities open to you in a choice of career. Every company, organization and level of government needs the services of an accountant to help with managing the books and its financial records. Accountants and auditors are essential in the preparation of tax returns and financial reports and statements. Theses professionals also monitor the information systems used in collecting, analyzing and assimilating the financial data.

Within the accounting industry there are five main areas in which you can practice:

• Government accounting
• Public accounting
• Management accounting
• Auditing
• Forensic accounting

In government accounting your role as an accountant would take the form of examining the financial records of individual government departments and agencies as well as auditing the tax forms of individuals and private businesses. Public accountants either work for themselves in their own businesses or with large firms handling the financial aspects of a variety of clients. Theses accountants often serve as consultants for both government agencies, organizations and private companies. Management accountants often handle cost estimation for industrial companies, while auditors look at the financial records of businesses to ensure that there are no criminal activities. When there are any suspicions of criminal activities, forensic accountants take over and conduct investigations in cooperation with law enforcement officials.



Within each of these areas of the accounting industry, there are various levels of accounting positions. After graduation and receiving your first job as an accountant, you will likely start off in an entry-level position as a junior accountant. With one to three years of experience, you can advance to become a staff accountant and then after another three or four years to senior accountant. As you gain more experience, engage in continuing education and pass different certification exams, you can advance to the position of accounting manager. The highest level of accountant is that of partner in an accounting firm, but there are only about two percent of accountants that ever achieve this highest level.

Other types of jobs that exist in the accounting industry include that of budget analysts who help businesses decide how to distribute their finances and be competitive in the market place when they operate with a limited budget. These professionals help develop a budget and research trends in the business field to determine where it would be best to spend the fund or what acquisitions or investments would deliver the most profit. There are also credit analysts who deal with credit approval or in the collection of past dues accounts.

Financial analysts working in the accounting industry work primarily in the areas of profit planning, acquisitions, budget for cash flow, buying or selling commodities and making investments. Whichever area of accounting interests you most, you will need to have at least a Bachelor’s degree in accounting, business or a related field and then take the courses and exams that will certify you in areas of specialty.