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Accountants and auditors

Accountants and auditors sort through the financial activities of organizations and individuals to ensure that their taxes are paid properly and that all public records are accurate. The required skill set for accounting jobs is expanding as many firms are beginning to look towards their accountants for advice on budgeting and investment planning as well. You can specialize in several areas as an accountant or an auditor, such as public accounting, management accounting, government accounting, and internal auditing. The specific responsibilities of an accounting position are dependent upon which field you enter into.

For instance, public accountants handle the finances of corporations, government agencies, nonprofit organizations, and individuals. Most are licensed as Certified Public Accountants (CPAs) and are expected to exhibit proficiency in accounting, auditing, tax comprehension, and consulting. Some CPAs specialize in forensic accounting and investigate white-collar crimes alongside lawyers and law enforcement officials.

Management accountants, who are sometimes referred to as cost, corporate, or private accountants, record and analyze the financial activities of the companies they work for. Many accountants in this field oversee an organization's strategic planning, its development of new products, and the release of financial reports to stockholders, creditors, and tax authorities.

Government accountants and auditors operate within the public sector and document the spending habits of government agencies, private businesses, and individuals who are subject to government regulations and taxation. These positions exist at the federal, state, and local levels, with the most recognizable jobs in the federal realm as IRS agents.

The last major field is internal auditing, which requires auditors to examine the financial records of their own organizations. Internal auditors verify the accuracy of records and check for mismanagement, waste, and fraud within companies. In all of the accounting fields, computers and accountancy software are becoming more prevalent and lessening the manual workload for professionals within the industry.

Most jobs in accounting and auditing demand a 40-hour work week. Self-employed accountants and tax specialists may work longer hours, especially during tax season. The majority of entry-level positions will require a bachelor's degree or higher, while advanced jobs in accounting and auditing call for certification and relevant experience.

The accounting industry, which is expected to continue to grow in upcoming years, offers competitive starting salaries for recent college graduates. In 2006, the average starting salary offer for candidates who held bachelor degrees was $46,718 a year. In May of 2006, the Bureau of Labor Statistics reported the median earnings of all U.S. accountants and auditors as $54,630 a year. [Figures including job projections, reported median incomes, and salary estimates were revised to reflect data from 2006 on 2/20/08.]