Because most industries require financial oversight, accountants can easily find work within numerous fields. To better accommodate specific workplaces and positions, these professionals often choose to specialize. The most common types of accountants are public accountants, management accountants, and government accountants.

Components of a Successful Career in Accounting

Not everyone is capable of creating a successful accounting career. The field is extremely demanding and requires substantial education, training, and experience. Because the job of an accountant is multifaceted, these professionals must develop and hone many important skills. The following traits are essential for accountants, regardless of the field they choose to work in:

• Excellent organization of financial data, including figures and paperwork

• Time management skills that allow for multi-tasking and the effective use of office hours

• Detail-oriented nature and an eye for accuracy, especially when dealing with financial figures

• Exceptional customer service when working directly with clients

• Creativity that allows for out-of-the-box thinking and quick, fresh solutions to financial problems

• Commitment to and passion for the industry

• Unwavering trustworthiness regarding private and confidential company and client information

• Outstanding communication with clients and company or organization management

• Collaboration with team members, department managers, and decision-makers

• Flexibility to work effectively in constantly changing environments and address last-minute challenges

What is the Difference Between a CPA and an Accountant?

A Certified Public Accountant, or CPA, is an accountant who is licensed to practice. While the licensing requirements vary from state to state, most CPAs must complete a minimum level of formal education, obtain professional experience, and successfully pass the Uniform CPA Examination.

There are many reasons that an accountant may want to become a CPA. For instance, CPAs are legally permitted to provide more services to their clients. While accountants can prepare taxes, only CPAs can represent an individual before the IRS during an audit. Additionally, professionals with a CPA designation are typically better regarded and make more money. In fact, it’s not uncommon for CPAs to make 10 to 15 percent more than accountants without licensing.

Typical Accountant Degree Requirements

Accountants must attain, at minimum, an undergraduate degree in accounting. These degrees generally consist of 120 credit hours of coursework, made up of both general curriculum and specialized major courses. While every program is a little different, most require students to take classes like financial accounting, accounting information systems, income tax, cost and managerial accounting, and auditing.

In most cases, bachelor degrees in accounting take four years to complete. There are, however, some accelerated programs available. Full-time students with previously-earned college credits or associates degrees can also finish sooner, whereas students who plan to attend school part-time may take longer.

What Can You Do With an Accounting Degree

Becoming an accountant or CPA is not an easy task. It takes hard work and dedication. However, a simplified, step-by-step explanation of the process consists of the following:

• Earn an undergraduate degree in accounting

• Decide between a career as an accountant and a CPA

• Earn a graduate degree in accounting

• Find an entry-level position working under a certified CPA

• Submit the CPA licensure application

• Apply for, take, and pass the Uniform CPA Exam

• Enroll in continuing education courses

While accountants are not required to earn a graduate degree, it is extremely beneficial. Not only does a master’s degree in accounting qualify professionals for higher-paying positions, it also prepares them to deal with more advanced work in auditing, taxation, and finance. Completing a graduate degree program in accounting also helps fulfill the 150 credit hour requirement most states have for CPA licensure.

Academic Standards for CPAs

A bachelor’s degree in accounting is enough to qualify candidates for most entry-level finance positions, but professionals seeking CPA certification must take their education further. While each state’s “board of accountancy” sets its own licensing requirements, most have similar education standards. Typically, states require candidates to complete the following:

• A bachelor’s degree in accounting or a related field from an accredited college or university

• A minimum of 150 semester credit hours of accounting and/or business coursework

• A specific number of accounting courses that cover certain topics

• A specific number of business courses that cover certain topics

Many states require that CPA candidates maintain an established minimum GPA while in school. Additionally, once an individual becomes officially certified as a CPA, they must complete a certain number of Continuing Professional Education (CPE) courses each year. Failing to provide proof of CPE credits can result in a CPA license being revoked.

Exam / Experience Needed for CPAs

After completing the above-mentioned education requirements, CPA candidates must apply to take the Uniform CPA Examination. This process usually entails submitting an application fee, official school transcripts, reference letters, and any supporting legal documents. Once approved, access to the exam schedule is provided.

The Uniform CPA Exam consists of four sections: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. Each test is four hours long and candidates must pass all of them within an 18-month period. Most states require a minimum passing score of 75 for each section.

While not nearly as difficult, most states also require CPA candidates to take and pass an ethics examination. These are generally offered online and can be taken independently.

Additionally, CPA candidates must provide proof of professional experience. Again, this requirement varies significantly from state to state. Most boards require candidates to work professionally under the direct supervision of a CPA for at least two years. Proof of work experience in accounting, auditing, insurance reporting, provision of management advisory, and/or financial consulting must be submitted before CPA licensure can be granted.

Other Top Accounting Degrees and Certifications

In addition to CPA licensure, there are several other certifications that accountants may consider seeking. Some of the most popular options are:

• Certified Financial Analyst (CFA)

• Certified Management Accountant (CMA)

• Enrolled Agent (EA)

• Certified Internal Auditor (CIA)

• Certified Information Systems Auditor (CISA)

• Certified Fraud Examiner (CFE)

• Certified Government Auditing Professional (CGAP)

• Certified Bank Auditor (CBA)

Today, accounting degrees are an integral part of the job market. To some, the idea of a degree in this field is sufficient, but to others, there is always a question on how long is an accounting degree. Once you graduate from an accredited school, the path to a rewarding career begins.

Accounting programs cover a wide spectrum of topics. There are different types of accounting degrees depending on your educational background and your field of choice. So it's important to know which type of accounting program you want to go for.

A Certificate in Accounting. A Certificate in Accounting is ideal for those who want to get started with a simple accounting job and move up to management roles in the future. The main goal of a Certificate in Accounting is to provide a foundation for careers in the accounting field. It will also provide a strong foundation for the major components of the CPA exam.

Accounting Degree Options

Associate's in Accounting. This is a specialized program that focuses on specialization of a specific area of accounting. It provides an introduction to the major fields in accounting and training in many key areas such as client relations, auditing, tax, financial planning, and accounting analysis. This option is useful if you want to broaden your career horizons.

Bachelor's degree in accounting. A Bachelor's degree in accounting is a great starting point for people who have a Bachelor's degree in other subject areas. It provides an overview of accounting, accounting principles, and some of the key theories in accounting.

Master's degree in accounting. This can be quite a step up from a Bachelor's degree, but this option is ideal for those with specialized skills in accounting or a certain area of finance.

Professional certification in accounting. Many institutions offer continuing education credits for their graduates who have advanced accounting skills and participate in certified training programs.

Master of Accounting. This is usually the advanced degree path for an accounting professional.

Certificates in Accounting. These are special certificates that allow students to take the CPA exam without attending classes on a regular basis.

Bachelor of Arts in Accounting. This program provides students with a solid foundation in financial and accounting principles, topics on finance, and practical application of financial concepts. Students usually pursue this program after earning a Bachelor's degree in any other field.

Bachelor of Business Administration in accounting. This is an intensive program that allows students to complete a major in accounting without taking a year off of work or school.

Certificates in accounting. These are special certificates that allow students to take the CPA exam without attending classes on a regular basis.

For one, operating in the area at the beginning can offer you a good sense of what areas in accounting you're most curious about (such as the specialized covered in this overview). That can make it much easier to pick a specialization when you go back for your bachelors. Another great factor to start early is that you can be working to pay your method via college instead of taking out trainee loans. That's an extremely typical technique; as a matter of fact, that's one factor there are a lot of outstanding, fully on the internet degree-completion accounting bachelors programs. What's much more, if the firm you help sees capacity in you, many companies and also firms have programs to pay their staff members method via school. After all, a better-educated worker is a more valuable worker.

This ought to be just one of the really first things you do when you decide to go freelance, probably also in advance. Getting rid of that security blanket of the constant income that comes with a 9-5 steady job is a large choice. You'll need to find out what exactly you're obtaining into by going freelance. That indicates getting to know a little bit extra about the ins and outs of your sector, what it resembles behind the scenes, and also what it takes to be the one running points. You'll likewise need to make certain that you're knowledgeable about what monetary plans you'll require to make.

See to it you know just how much (approximately) you're most likely to require to obtain began. Where will it come from? If it's obtained, just how will you pay it back? Are you subsidizing yourself from your savings, if so, just how will you save that back-up? Create a budget plan to help you continue top of income, revenues as well as running costs in your first couple of months/first year so you can not just get yourself going.

Important Questions to Ask

Individuals interested in becoming an accountant or CPA must ask themselves a series of important questions. These include:

How long does it take to earn an accounting bachelor’s degree online?

A traditional bachelor’s degree in accounting, sought by taking courses on-campus, generally takes four years to complete. Online programs are comparable. As long as students are enrolled full-time, a 120 credit hour accounting degree can usually be completed in an average of four years. Individuals pursuing an online bachelor’s degree in accounting on a part-time basis, however, should expect it to take longer. In most cases, these students will graduate in five to eight years.

How much does an accounting bachelor’s degree cost?

The cost of an accounting bachelor’s degree varies significantly between institutions. According to the College Board’s Trends in Higher Education Series, the average in-state tuition for a four-year, public education was $9,970 in 2017-18. Students who enrolled at a four-year, private college or university paid an average tuition of $35,260 in 2017-18. Of course, these totals increase significantly when fees, room, and board are included.

What does coursework look like for an accounting bachelor’s degree?

Course titles will vary significantly, but the coursework for an accounting bachelor’s degree often includes topics such as:

• Principles of Accounting

• Contemporary Business Law

• Federal Taxes

• Microeconomics

• Business Communication

• Financial Statement Auditing

• Accounting Theory and Research

• Payroll Accounting

• Fraud Examination

• Internal Controls and Risk Assessment

• Computer Applications and Systems

• Managerial Accounting

• Internal Reporting Issues

• Attestation and Assurance

• Accounting Information Systems

Does the school have the major(s) you are considering?

Another important consideration is the list of majors the college or university offers. While many institutions have accounting programs, not all of them do. Some schools offer business degrees instead, but provide students the opportunity to select an accounting concentration. In most cases, graduate accounting program boards consider this sufficient prior experience in the field. Additionally, the majority of state accountancy boards accept both accounting and business degrees as long as the completed coursework aligns with their CPA content requirements.

How many students graduate “on time,” or within four years?

Before selecting a college or university, students should also inquire about the typical graduation rate and time frame. Often, this information can be found on institution websites. Alternatively, speaking directly with the accounting degree program can offer great insight on this matter. The department will have specific information regarding average time of completion, graduation rates, employment success, and starting salaries.

What kind of accreditation does the program hold? How it is regarded in the field?

Accreditation is another factor. Every college and university has the opportunity to have their programs accredited by an international or regional accreditation agency. This process confirms that an institution and its offered coursework adhere to specific, standard guidelines within a particular field. The most prominent international accreditation organizations are:

• Association to Advance Collegiate Schools of Business (AACSB)

• The Association of MBAs (AMBA)

• European Quality Improvement System (EQUIS)

• The Distance Education and Training Council (DETC)

Of these, the AACSB is, by far, the most prestigious. This agency’s accreditation standards are high, but institutions that opt to undergo the rigorous accreditation process offer some of the best accounting programs available. Individuals seeking an online accounting degree should give colleges and university accredited by the DETC preference, as the AACSB rarely accredits distance-learning or online programs.

Alternatively, students can consider institutions accredited by a regional accrediting agency. These organizations ensure that accounting programs meet the standards of a particular area. Those who intend to remain relatively local after graduation should have the knowledge and skills necessary to work professionally within the accreditation region. Regional accrediting agencies include:

• Middle States Commission on Higher Education (MSCHE)

• New England Association of Schools and Colleges (NEASC)

• North Central Association Commission on Accreditation and School Improvement (NCACS)

• Northwest Commission on Colleges and Universities (NWCCU)

• Southern Association of Colleges and Schools Commission on Colleges (SACS COC)

• Western Association of Schools and Colleges Accrediting Commission for Schools (WASC ACS)

This indicates you'll likewise intend to plan ahead so that yet also have a little s safeguard in case you're sluggish to take off or you encounter any type of unforeseen expenses. One method to do this is to produce an emergency fund. As a whole, you ought to be saving enough for at least 6 months-- in both individual and also business expenses. This additionally implies always keeping top of taxes - both in regards to income tax as well as BARREL. As you earn money, keep a running overall and plan your taxes as necessary. Tax obligations are extremely vital, and also they are not something you intend to get wrong.

Today, its not virtually adequate to merely state you intend to be an accountant. Certainly, you can gain your bachelors degree and also sit for the CPA examination; as a matter of fact, that's what you'll need to do to practice as an accountant. However, just as every other area, accounting has fragmentized and become much more customized, much more expert, and also to separate on your own on duty market, an expertise is the method to do it. The best colleges and university company and accounting institutions with deal numerous expertise, consisting of interdisciplinary field of expertise like forensic accounting, actuarial science, and also accounting IT.

Whether you are a working specialist going back to school to obtain a bachelors degree, or you're a young person just beginning on their 4-year trip, have no concern-- there are some very fulfilling, and very in-demand, jobs in accounting that you can get with a bachelors degree.

With mostly all financial, trading, and various other financial deals going on the internet, there's never ever been even more potential for fraud, embezzlement, identification burglary, as well as frauds that make good old-fashioned check kiting look quaint. These are individuals that identify if a firm or person misstates their accounting, provides proof for court cases, creates calculations for insurance companies to figure out amounts owed, as well as computes inheritance tax appraisals.