Job description

Accountants manage the finances of clients that range from large corporations to governmental bodies and small businesses to individuals. Their work involves preparing and checking financial statements and records, assessing the financial implications of business decisions, preparing company accounts, filing tax returns and providing financial advice.

Duties

    • Examine financial statements and ensure their accuracy and compliance with laws and regulations
    • Organise and maintain financial records
    • Resolve accounting discrepancies
    • Administer payrolls and control income and expenditure
    • Develop, forecast and check budgets
    • Compile and present reports, budgets, business plans, commentaries and financial statements
    • Advise management on financial aspects of business such as budgets, tax and cashflows
    • Represent and support clients during litigation involving financial issues
    • Assess financial operations and suggest ways to reduce costs, enhance revenues and improve profits

Skills, qualities and knowledge

Analytical
Communication
Interpersonal
Attention to detail
Mathematics
Problem-solving
Time management
Organisational
Integrity
Business acumen
Methodical
Teamwork
Accounting software

Working hours and environment

Average working hours

40hweek

Typical schedule

Full Time

Long hours during tax season

Most accountants work in an office, although some work from home either as freelancers or as salaried employees. They may occasionally be required to travel to their clients’ place of business, while their work can be stressful, particularly at the end of the financial year when they are expected to work late or at weekends.

Salary

Bottom 10%

$44k

Median

$71k

Top 10%

$120k

Annual salary estimates are based on percentile wage data collected through the Occupational Employment Statistics (OES) survey of US workers.

Qualifications and training

Education level

Undergraduate

DVM / VMD degree

Study time

4years

Most accounting positions require a bachelor’s degree in accounting or a related field, although this is not always the case. Still, it can improve your job prospects significantly, especially when looking for employment at one of the Big Four accounting firms. That said, some employers prefer to hire applicants with a master’s degree.

Certification is not necessary unless you will be filing reports with the Securities and Exchange Commission (SEC). In this case, you are legally required to become a Certified Public Accountant (CPA) through your state’s Board of Accountancy. This involves successfully passing the four-part Universal CPA Examination, for which many employers will cover the costs involved.

Job outlook

Projected growth
The projected growth rate of employment in the US from 2016 to 2026, based on data collected through the BLS Employment Projections (EP) programme. The national average growth rate for all professions is 7%.

10%

No of new jobs
The number of jobs projected to become available in the US between 2016 and 2026, based on data collected through the BLS Employment Projections (EP) programme.

140k

Automation risk
The probability of computerisation, based on data published in ‘The Future of Employment’, a 2013 working paper by Carl Benedikt Frey and Michael Osborne.

94%

Career progression

Accountants often begin their careers as accounting clerks. With experience, they can move up the ranks in the companies they work for, often to senior management or finance director positions. Others progress to setting up their own practices.

They can also choose to specialise in a particular area of accounting, such as risk assessment, tax, assurance and forensic accountancy, through additional training.