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Accounting: A Career Outlook

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Every business, organization, or government agency needs an accountant. Especially with the recent economic slowdown, people who have an education in accounting are becoming more and more in�demand. If you want to have a successful career in this field, then read on for a career outlook in accounting.

Basic Requirements

To be an accountant, you need to at least have a bachelor's degree in accounting (or some other related field). However, if you really want your accounting career to be successful, then you're going to need professional recognition. This means you'll need to have legal certification, a master's degree, and some other specialized expertise of accounting and auditing, so you can have a huge advantage among the myriads of candidates.



Distinctive Tasks

The typical task of an accountant is basically the auditing and compiling of all the financial statements of the organization that he/she works for (companies, banks, firms, etc). They analyze financial plans and the possible results and do inventories of the cost of production. Accountants also accumulate information of recorded transactions by placing them in journal entries. Some accountants are also hired as consultants for development processes and make further recommendations for better financial security.

Work Conditions

Working conditions for accountants vary greatly. Accountants and auditors usually work in conventional office-type buildings, but some self-employed accountants can bring home their work. Government agencies and public firms may require their accountants to be available for constant travel so as to perform audits in various branches or partner clients. The working hours generally stand at 40 hours per week and some even work for longer than that.

Employment Statistics

About a decade ago, in the late stages of the 90s, more than 1 million accountants and auditors held steady jobs. Working in different specialties and industries, approximately 25% of accountants worked in bookkeeping, auditing, and accounting firms. Around 9% were self-employed. It's expected that as the years pass, leading up to 2010, thousands of new job openings will be available as more and more accountants retire each year. The increasing changes in the roles of accountants and auditors will also contribute to further job growth. With the recent crashes of several insurance companies and ridiculous bailouts in the early 2000s, the economy will need more and more people with high levels of accounting education in order to provide financial security for large corporations and such. This means that companies will likely hire people who have accounting experience to help manage and supervise their financial well-being.

Salary

Salaries for accountants vary greatly according to the different industries and fields they focus on. With a decent estimate of $47,000 every year for budget, cost, and treasury analysts, the pay is even projected to increase 7 percent every year. Large companies who employ Internal Audit Managers are forecasted to pay $80,000 to $110,000 as an annual salary. For senior managers and directors employed at midsized accounting firms, they're expected to be paid nearly $90,000 to $129,000 every year. To sum it up for the average accountant, the expected average pay would be around $50,000, more or less.

The world of accounting is filled with numbers and collections of various data. If you happen to possess special talents as well as an amazing aptitude for figures and numbers, then you certainly have an advantage. But before you go, here's a final suggestion: It's not just about mathematics. It's also about learning to adapt to this constantly changing world. With that, you can be sure you can be successful in any field you choose.
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