Accountants keep track of payments, financial positions, and transfers of capital or income for clients, and they examine the tax implications of these actions.
An internal auditor spends about 35 percent of her time on paperwork, document review, and computerized accounting procedures.
Being comfortable with numbers, computer proficiency, and work experience in number-intensive jobs are important. A bachelor’s degree in accounting, finance, or a related discipline is generally required.
Personal income tax accountants primarily handle tracking clients’ income and submitting paperwork by April 15, while corporate tax accountants are involved throughout the year in corporate decision-making and advising on tax planning.
The busiest season is around April 15, when all the required paperwork must be submitted to federal and state governments.
Most firms require at least a bachelor’s degree in accounting, finance, or a related discipline. Many also value computer proficiency and work experience. Some pursue a master’s degree for better prospects.
The CPA exam is the most common certification accountants are asked to complete after hire and is rapidly replacing other exams as the working degree of choice.
These areas are expected to grow at a steady pace, with internal auditing becoming more popular as small businesses recognize its value.
Changes like “flat tax” proposals could significantly alter the profession, requiring accountants to reeducate themselves when laws change.
After five years, professionals may specialize in private or public accounting, become budget directors or managers, start their own firms, or move into related fields like banking or financial analysis.
Nearly half of the 15 percent who leave do so to gain further schooling in a related field, often due to the demanding nature of the job and high failure rate on the CPA exam.
They may establish their own firms, take on management roles, get involved in business strategy, or become independent consultants.
About 25 percent of test-takers pass the CPA exam at any given administration.
Some become independent consultants and work shorter hours, placing more emphasis on family life and free time
They may move into banking, financial analysis, asset management, government service, or academia.
Internal auditing is expected to grow as small businesses learn the value of managing their capital soundly.
They can obtain a bachelor’s degree, gain computer proficiency, consider a master’s degree, pass the CPA exam, and gain relevant work experience.
Because accountants often deliver bad news and deal with clients who are defensive or inattentive to their own numbers.
About 80 percent of all income tax firms are small, employing five or fewer people.
Significant computer proficiency and experience in number-intensive jobs.