Accounting As A Career Essay

As the decision of where I pass on attend college succeeding(prenominal) grade quickly approached, I decided to investigate the major I have chosen, bill. Because my goal is to give out a certifiable Public restrainer (certified public accountant), I would passion to know more than(prenominal) of what it entails. Dealing with numbers, and recording and communicate the authoriseings of a comp both, accountants are placed with the responsibility of keeping encompass of the coins of a c eaching. God has blessed me with skills in the areas of mathematics and organization, which caused me to find out for an business line that utilizes both. business relationship seemed a logical choice since they largely demand a crap with numbers and organize their clients m unrivaledy. In stray to become a CPA, mavin must receive a bachelors period and throw for a prescribed number of hours for a top accountancy firm. Covering a wide spectrum of business related specializatio n, accountants and those who act as studyors must be fitted to determine whether or not a companion is apply their resources efficiently and if they are correctly recording the capitals they come in equal with. I am cognizant that accountants trim with m superstary and the documenting of it exactly would like to ascertain exactly what else the job of a CPA consists of.Since the recent downturn of the Ameri undersurface economy and job market, I began to ponder how easy it would be to attain a job as an accountant. jibe to Steve French, an accountant for the martyrdom Satellite Ne iirk, it is easy to find an invoice job, regardless of the state of the economy, because either bon ton pick ups an accountant. Also, in the opinion of Richard Schweppe, Chief financial policeman (CFO) of CorVel Corporation, the best thing al to the highest degree account statement is the option of workings for any face of follow an individual whitethorn find interesting. Because every b usiness needs an accountant and many people use them for revenue enhancement homework, those with a degree in method of accounting can easily find a job after college. Furthermore, with fewer students peeing accounting degrees, organizations are devoting considerableer resources to attracting these candidates. Having indeed determined the ease and likelihood that I will be able to find an accounting job upon graduation from college, I decided to look into exactly what an accountant does, how they attain the title of CPA, and how much money they make. succession researching the job description of accountants, I discovered multipletypes of accountants, behaveing jobs ranging from banking to auditing. front of in all, one can become a creation accountant and work for a public accounting firm. They perform a across-the-board figure of speech of accounting, auditing, appraise, and consulting activities for their clients, who whitethorn be corporations, governments, nonprofit organizations, or individuals. The majority of public accountants, however, work on taxes. With the constantly changing tax laws, many people choose accountants to prepare and file their income taxes. They execute tasks such as preparing individual income tax returns and advising companies of the tax advantages and disadvantages of certain business decisions. Tax accountants must be aware of the new tax laws and must be constantly rooking and ground all of the changes. Also, they have to face extremely hectic work schedules during the tax season.Debra Schill, who owns a Triple Check business, explained, During tax season (January through April), I work seven sidereal days a week, from 6 to 18 hours per dayand evenings and weekends are dedicated to filling out clients tax returns, getting them polished and out the door. In addition to accurately filling out tax returns, tax accountants must be familiar with the types of businesses they are working for. A thorough understanding of the clients business, investment, and personal objectives is required, as healthy as a thorough understanding of the tax laws and their applications. Besides taxes, public accountants likewise perform audits. First of all, an audit can be defined as examining a clients financial statements and report to investors and authorities that they have been wide-awake and reported correctly. According to Barrons Dictionary of Finance and Investment Terms, an audit is professional examination and verification of a companys accounting documents and supporting data for the purpose of rendering an opinion as to their fairness, consistency, and unison with planetaryly accepted accounting principles.Although only about 15 pct of accountants actually perform them, auditing is the most widely known and the most most-valuable job of a CPA. Auditors must follow certain rules and report the facts without bias or other influences. Performing this necessary task is essential because it ensures the haleness of the financial schooling on which our economic system depends. As well as auditing, public accountants consult and offer advice to companies. Consulting services provided by CPAs may range from brief discussions with clients inthe form of consultations or may mean larger initiatives such as implementation, transaction, or support services. Consulting allows accountants to move from company to company, giving them a wide array of knowledge regarding the running of contrary companies and how to handle certain situations. Public accountants can choose to specialize in taxes, auditing, consulting, or a plethora of other opportunities.Another type of accounting that interested me was management accounting. Often referred to as industrial or offstage accountants, management accountants analyze and interpret the financial teaching corporate executives need to make sound business decisions. Although there are many diametric types of management accountants, the one that intrigued me the most was the subjective auditor. The internal auditor conducts an separatist appraisal from within the organization by analyzing, criticizing, and recommending improvements to internal financial puts.Allowed to work for a specific company, he still performs audits as he would if working for a public accounting firm. Being the companys in-house authority, the internal auditor may assist outside CPAs in their examination and rating of the companys financial statements. An internal auditor can patron a company ensure that they are successfully and correctly utilizing, recording, and inform their financial state before they are officially audited.As some other alternative, an accountant can choose to work for the government. The largest employer of CPAs in the United States is the familiar Revenue Service (IRS). IRS agents examine and audit the accounting books and records of individuals, partnerships, fiduciaries, and corporations to determine their tourist court federal tax liability. Working for the government would prove to be an arouse job if one becomes an investigative accountant. For me personally, I am not particularly interested in working for the government.When I am looking for a job in accounting, the skills I possess will determine my eligibility and appeal. many a(prenominal) abilities and skills are necessary in order to work in the accounting field. For example, I have found thataccounting is not just about number crunching, but is also about helping a company run efficiently. personal soft skills are needed in order to in effect work with others. As a recommendation, the American Institute of Certified Public Accountants (AICPA) states that accounting professionals should be able to work with others to accomplish objectivesand lay down an ability to work productively with individuals in a diversity of roles and with change interests. Because of the many sides of accounting, face-offs are continuously attended rel ating to the different aspects of the business slavish in the running of the company. Speech and communication skills are chief(prenominal) to effectively inform, and firms seek strong communicators who can explain complex financial information clearly and concisely to a diverse audience. In addition, individuals must be able to deliver presentations and express information concisely and clearly, both in speech and writing.As a result of continuously changing technology, accountants, and all business employees, must be able to advance with these many changes. Accountants will always be learning as technology and laws change. Furthermore, given the fiducial nature of the work they perform, people will rely on the information they provide. Honesty and integrity are qualities which are extremely valued. Because they work with money and are trusted to report the truth about a company and its financial state, I believe accountants should have a high degree of moral integrity. In addit ion, business sense and an awareness of events transpiring in the world are key assets when working for any company that may be affected by any shifts in the global economy.According to the Robert half and Accountemps 2002 Salary Guide, Companies seek professionals who can manage a broad range of accounting responsibilities, including general ledger, cost control and financial reportingIndividuals proficient with spreadsheet applications and who possess excellent customer service skills are highly sought after. A personable attitude and knowledge of technology can enhance ones resume, as well as their odds for getting a job. When Robert Half global asked CFOs Which of the following interpersonal skills is most valued in accounting candidates today, they responded according to the chart below.An endless make sense of skills and abilities are highly recommended for accountants.After learning what an accountant does and what skills are needed, I decided to research exactly how one becomes a CPA. Most of the requirements and information on comely a CPA was provided on the website of the California display panel of Accountancy provided me with. First of all, a CPA is a certified public accountant and is authorise by the state. In California, to earn the prestige associated with the CPA license, individuals are required to demonstrate their knowledge and competence by going game an exam, meeting high educational standards and completing a specified aggregate of general accounting experience. Becoming a CPA involves an approximately half dozen year journey, including attending a college or university. Two pathways that may take to obtain the title of CPA have been created by the California bill of Accountancy. roadway 1 is designed for those who will practice only in California. The education requirement is a bachelors degree, includingtwenty- cardinal semester units in accounting-related subjects and twenty-four semester units in business related subjec ts. In addition to meeting the education requirements, one must pass the Uniform CPA Exam. disposed(p) over a two-day period twice a year, this exam consists of four parts Business Law and Professional Responsibilities Auditing Accounting and Reporting-Taxation, Managerial, and Governmental and Not-for-Profit Organizations and Financial Accounting and Reporting-Business Enterprises. If all four parts are not passed on the first attempt, applicants may establish conditional credit by passing two sections with a grade of 75 or higher during a single sitting.Once conditional credit is established, one may take their be unpassed exam sections individually. Next, one must have two years of general accounting experience supervised by a licensed CPA. During this period, it is expect that one has participated in planning audits has written comments, observations and conclusions resulting from the work performed and has participated in the preparation of, and reporting on, full disclosure financial statements. I see the two years of supervised experience as a benefit to those be after to become CPAs. Certainly, all people who are in the process of graceful a CPA should take full advantage of this aid by learning all they can through real job experience.Pathway 2 is similar to Pathway 1 and is recommended for those who may want to practice in another state. Differences include the requirement of only one year of general accounting experience supervised by a licensed CPA in addition to 150 semester units of education. Also, conditional credit on the CPA exam is only awarded to those who pass two or more sections with a grade of 75 percent or higher and earn a minimum grade of 50 percent on the be unpassed sections, and is valid for three years. Although it takes a long period of time to officially become a CPA, I anticipate the challenge.This information has verified my desire to become a CPA. Consequently, I researched the salary of an accountant to see whether it provides a good income. According to the 1998-1999 Graduate Status Report of California polytechnic institute State University in San Luis Obispo, the median salary of the graduates was $3083 per month and ranged from $1833 to $4333. Of the 69 students who responded to the questionnaire, 67 were employed full-timewithin a year after their graduation. The Robert Half and Accountemps 2002 Salary Guide reports that novice general, audit, tax and cost accountants working in a large company ($250 cardinal+ in sales) can earn $33,000 to $40,750, those working in a medium company ($25 to $250 million in sales) can earn $31,250 to $37,500, and those working in a humble company (up to $25 million in sales) can earn $29,500 to $35.250 a year. These are only the starting salaries for those working up to one year, but those who become managers can earn anywhere from $47,500 to $79,000 a year. Bookkeeping, an area of accounting that was of some interest to me, has relatively low salaries. Dep ending on the title and experience, one can earn from $24,000 to $48,500 per year. I discovered that the title that earns the most money is that of CFO or Treasurer, which can rise to $360,250.An accurate summary of the telephone circuit of an accountant is that he has the task of accumulating and dispensing needed financial information. Since his activities touch upon closely every phase of business operation and financial information is communicated in accounting terms, accounting is said to be the language of business. Anyone intending to engage in any type of business activity is well advised to learn this language. After researching what accountants actually do, I discovered that they do much more than just crunch numbers all day. The variety and diversity of jobs getable caused me to contemplate about what I would like to specialize in and what type of company I would like to work for. Moreover, interpersonal skills are important and accountants have interaction with a numb er of associates and clients frequently.Previously, I had thought that accountants were loosely bookkeepers, but have discovered that only a small component part of them are and that they make the least amount of money out of the unhomogeneous specializations. While there are accountants who are not CPAs, becoming one will help ensure a higher income and the prestige associated with becoming a CPA. The road to becoming a CPA is longer than I had expected, but I believe it is worth the training and experience required. Since horrible amounts of time and effort are necessary, a strong desire to become a CPA must be present in all who seek to become one. Unquestionably, the wide base of business knowledge that one studying accounting amasses allows them to work anywhere in the business environment. Accounting is a great foundation forall business and is a great choice for anyone interested in numbers and working with people.Works CitedAccounting 1998-1999 Graduate Status Report. Ca l Poly Career Services. 4 April2002 .AICPA Career Paths. 25 manifest 2002.AICPA Personal Competencies. 24 March 2002 .Camenson, Blythe. Careers for Perfectionists and Other Meticulous Types. VGMCareers For You Series. Chicago NTC/contemporary Publishing Group, Inc.,1999.Carson, A. B., Arthur E. Carlson, and Mary E. Burnet. Accounting Essentials for CareerSecretaries. 3rd ed. Cincinnati South-Western Publishing Co., 1972.French, Steve. Personal Interview. 10 April 2002.Goldberg, Jan. Great Jobs for Accounting Majors. Chicago NTC/ContemporaryPublishing Group, Inc., 1998.Licensing have got Requirements. The California Board of Accountancy.28 February 2002 .Messmer, Max. Next Generation Accountant. Robert Half International Inc.. -. Robert Half and Accountemps 2002 Salary Guide. N.p. n.p., 2001.Schweppe, Richard. Personal Interview. 24 April 2002.Weinstein, Grace W. The Bottom bank bill Inside Accounting Today. New York NewAmerican Library 1987.What It Takes a Guide to Becoming a C PA. CalCPA Online. 15 April 2002.