Are you looking for a career in accounting? Continue reading to learn more about qualifications, job outlook, salary ranges, and other information. Here are 5 top accounting jobs with the highest pay ranges. For more information, please get in touch. We'll help you make the right choice! We'll look out for the right job that matches your interests and qualifications. We'll keep you informed as the field changes.
Qualifications
While accounting careers are highly rewarding, the compensation varies widely depending on your experience and the area of specialty you are pursuing. A CPA license is a great way to make more money and opens up many doors to advancement. Additional professional certifications that you can pursue, such as Certified Fraud Examiner(CIA) or Certified Internal Auditors (CFA), will increase your income. An accounting degree is not required, but you might be better suited for a job with additional certifications.
An accountant may be a good choice if your passion is numbers and you enjoy working with numbers. This occupation is highly sought-after and has high salaries. An accounting bachelor's will give you many options in different fields. Aside from accounting, you might want to pursue your CPA certification. It usually requires additional college coursework. Your experience may lead you to a career in forensic or professional accounting.
Salary ranges
Salary ranges for accounting careers vary widely, but some are more lucrative than others. Senior professionals often command the highest salaries. The annual salary range of senior accountants (auditors) and cost accountants is between $70,000- $120,000. You can earn a lot less if your job is as an intern, or as an employee at the entry level. You could make anywhere from $57.110 to $128.680 per year depending on your education and experience.
Accounting and Finance professionals average 117,000 USD a year. This means that half the Accounting and Finance professions earn less than this, and half of them make more. Therefore, the median wage is the middle-ofthe-road wage. You should aim to be on the right-hand side of the graph. More experience is generally a plus. The average annual salary for an Accountant is 125,000 USD.
Outlook for the Job
The U.S. Bureau of Labor Statistics tracks and projects an 11% increase in the number of accountants and auditors by 2021. The demand for tax examiners and financial managers will continue to grow. According to Bureau of Labor Statistics, in 2017-2018, the average accounting major wage was $57.250. This number will vary depending on the local job market, your skills, and your experience.
Accounting jobs are well-positioned and the salaries available to them are highly competitive. High-skilled professionals have plenty of job opportunities. Salaries vary from one region to the next. Experience is also an important factor in determining a person's pay. While some cities offer higher salaries than others, living costs can make it difficult for people to pay the extra. The outlook for accountants is positive. Technological advancements are bringing new opportunities to the accounting industry. Before you pursue a career as an accountant, it is important to decide what specialization you are interested in, what credentials you need, and what your expected salary range.
FAQ
What is an audit?
An audit is an examination of the financial statements of a company. An auditor examines the company's accounts to ensure that everything is correct.
Auditors check for discrepancies and contradictions between what was reported, and what actually occurred.
They also make sure that the financial statements are correctly prepared.
What is the purpose of accounting?
Accounting gives an overview of financial performance. It measures, records, analyzes, analyses, and reports transactions between parties. Accounting allows organizations make informed decisions about how much money to invest, how likely they are to earn from their operations, and whether or not they need to raise additional capital.
To provide information on financial activities, accountants record transactions.
The organization can use the data to plan its future budget and business strategy.
It's essential that the data is accurate and reliable.
How do accountants work?
Accountants work together with clients to maximize their money.
They work closely alongside professionals like bankers, attorneys, auditors and appraisers.
They also collaborate with other departments such as marketing and human resources.
Accounting professionals are responsible for maintaining balance in the books.
They determine how much tax must be paid, and then collect it.
They also prepare financial reports that reflect how the company is doing financially.
Statistics
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- "Durham Technical Community College reported that the most difficult part of their job was not maintaining financial records, which accounted for 50 percent of their time. (kpmgspark.com)
- According to the BLS, accounting and auditing professionals reported a 2020 median annual salary of $73,560, which is nearly double that of the national average earnings for all workers.1 (rasmussen.edu)
- Given that over 40% of people in this career field have earned a bachelor's degree, we're listing a bachelor's degree in accounting as step one so you can be competitive in the job market. (yourfreecareertest.com)
- a little over 40% of accountants have earned a bachelor's degree. (yourfreecareertest.com)
External Links
How To
How to be an Accountant
Accounting is the science that records transactions and analyzes financial data. It involves the preparation and maintenance of various reports and statements.
A Certified Public Accountant or CPA is someone who has passed an exam and received a license from the state board.
An Accredited financial analyst (AFA), or an individual who meets the requirements of the American Association of Individual Investors, is an individual who is accredited by Financial Analysts. A minimum of five year's investment experience is required before an individual can be made an AFA. They must pass a series exam to verify their understanding of accounting principles.
A Chartered Professional Accountant or CPA (sometimes referred to simply as a chartered accountant) is a professional accounting who has received a degree in accounting from a recognized university. CPAs must adhere to the Institute of Chartered Accountants of England & Wales' (ICAEW), specific educational requirements.
A Certified Management Accountant is a professional accountant who specializes in management accounting. CMAs need to pass exams administered through the ICAEW, and must continue education requirements throughout their careers.
A Certified General Accountant, (CGA), is a member of American Institute of Certified Public Accountants. CGAs have to pass several tests. One test is known as the Uniform Certification Examination.
The International Society of Cost Estimators offers the certification of Certified Information Systems Auditor (CIA). Candidates for the CIA need to complete three levels in order to be eligible. These include practical training, coursework and a final examination.
The Accredited Corporate Compliance Officer (ACCO), is a designation that has been granted by the ACCO Foundation (IOSCO). ACOs must have a baccalaureate in finance, business administration or public policy. They also need to pass two written and one oral exams.
A Certified Fraud Examiner (CFE) is a credential by the National Association of State Boards of Accountancy (NASBA). Candidates must pass 3 exams and score a minimum of 70 percent.
A Certified Internal Auditor (CIA) is accredited by the International Federation of Accountants (IFAC). Candidates must pass four exams covering topics such as auditing, risk assessment, fraud prevention, ethics, and compliance.
American Academy of Forensic Sciences (AAFS) designates an Associate in Forensic Account (AFE). AFEs need to have graduated from an accredited college/university with a bachelor's level in any other field than accounting.
What does an auditor do? Auditors are professionals who audit financial reporting and internal controls of an organization. Audits can take place on an individual basis or on the basis of complaints received from regulators.