Are you interested in a career as an accountant? Learn more about the qualifications, job outlook, as well as the salary ranges. These are the 5 highest-paying accounting jobs. For more information, please get in touch. We will help you make the right decision! We'll be looking for job opportunities that fit your interests and qualifications. We'll update this information as the field develops.
Qualifications
Accounting careers can be very rewarding. However, the pay scales will vary depending on the specialty and your experience. You can make a lot more money by becoming a CPA and get many opportunities to advance. Additional professional certifications that you can pursue, such as Certified Fraud Examiner(CIA) or Certified Internal Auditors (CFA), will increase your income. While a college degree is not essential for a career in accounting, additional certifications and education may help you land a better job.
You might consider becoming an accountant if you are passionate about numbers and love working with numbers. The profession is in high demand and pays well. Earning a bachelor's degree in accounting will give you a wide range of opportunities in different fields. CPA certification requires additional college coursework. You might consider a career as forensic accountant depending on your experience.
Salary ranges
There are many different salary levels for accounting careers, but some are more lucrative. The highest salaries are usually earned by senior professionals. The annual salary range of senior accountants (auditors) and cost accountants is between $70,000- $120,000. If you are an intern or a first-level employee, however, your salary range could be significantly lower. You can earn anywhere from $57.110 to $128.680 depending on your level of education and experience.
The median salary for an Accounting and Finance professional is 117,000 USD per year. This means that 50% of Accounting and Finance professionals make less than this amount, while the other half earn more. Hence, the median represents the middle-of-the-road wage. Ideally, you want to fall on the right side of this graph. You will be paid more if you have more experience. However, the average salary for an Accountant in New York City is 125,000 USD per year.
Job outlook
The U.S. Bureau of Labor Statistics monitors the job market and projects an 11% increase in auditors and accountants by 2021. There will also be a strong demand for financial managers, tax examiners, and personal financial advisers. The average accounting major salary was $57,250 in 2017, according to the Bureau of Labor Statistics. This number may vary depending on your local job market, skill level, and experience.
The outlook for accountants in the future is bright and the salary range is competitive. There are plenty of opportunities for individuals with high educational and professional skills. Salaries vary from one region to the next. Experience is also an important factor in determining a person's pay. Many cities pay more than others, but the cost of living can make the incomes more difficult to swallow. The outlook for accountants remains positive. The accounting industry continues to expand, and technological advancements are ushering in new jobs. 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 auditor?
Auditors look for inconsistencies in financial statements and actual events.
He confirms the accuracy and completeness of the information provided by the company.
He also verifies the validity of the company's financial statements.
What is Certified Public Accountant?
A C.P.A. is a certified public accountant. A certified public accountant (C.P.A.) is an individual with special knowledge in accounting. He/she has the ability to prepare tax returns, and assist businesses in making sound business decision.
He/She keeps an eye on the company's cash flow, and ensures that everything runs smoothly.
How do I know if my company requires an accountant?
Companies often hire accountants once they reach certain sizes. If a company has $10 million annual sales or more, it will need one.
Some companies, however, hire accountants regardless their size. These include sole proprietorships, partnerships and corporations.
It doesn't really matter how big a company is. Accounting systems are the only thing that matters.
If it does, then the company needs an accountant. If it doesn’t, then it shouldn’t.
What is the purpose and function of accounting?
Accounting gives a snapshot of financial performance through the recording, analysis, reporting, and recording of transactions between parties. Accounting allows organizations to make informed decisions about how much money they have available to invest, how much they can expect to earn from operations and whether additional capital is needed.
Accounting professionals record transactions to provide financial information.
The organization can use the data to plan its future budget and business strategy.
It is essential that data be accurate and reliable.
Statistics
- 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)
- The U.S. Bureau of Labor Statistics (BLS) projects an additional 96,000 positions for accountants and auditors between 2020 and 2030, representing job growth of 7%. (onlinemasters.ohio.edu)
- In fact, a TD Bank survey polled over 500 U.S. small business owners discovered that bookkeeping is their most hated, with the next most hated task falling a whopping 24% behind. (kpmgspark.com)
- Employment of accountants and auditors is projected to grow four percent through 2029, according to the BLS—a rate of growth that is about average for all occupations nationwide.1 (rasmussen.edu)
- "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)
External Links
How To
How to be an Accountant
Accounting is the science behind recording transactions and analysing financial data. Accounting can also include the preparation of reports or statements for various purposes.
A Certified Public Accountant is someone who has passed and been licensed by the state board.
An Accredited Financial Analyst (AFA) is an individual who meets certain requirements set forth by the American Association of Individual Investors (AAII). A minimum of five year's investment experience is required before an individual can be made an AFA. They must pass several examinations to prove their understanding of securities analysis.
A Chartered Professional Accountant is also known by the name chartered accountant. This is a professional accountant who received a degree at a recognized university. CPAs need to meet the specific educational standards set forth by the Institute of Chartered Accountants of England & Wales.
A Certified Management Accountant is a professional accountant who specializes in management accounting. CMAs must pass the ICAEW exams and continue their education 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). The three-level curriculum for CIA candidates includes practical training, coursework, and a final exam.
Accredited Corporate Compliance Office (ACCO), a designation conferred by the ACCO Foundation as well as the International Organization of Securities Commissions. ACOs must possess a Bachelor's Degree in Finance, Business Administration, Economics, or Public Policy. They must pass two written exams, and one oral exam.
The National Association of State Boards of Accountancy gives the credential of Certified Fraud Examiner (CFE). Candidates must pass three exams with a minimum score 70 percent.
International Federation of Accountants has granted accreditation to a Certified Internal Audior (CIA). The four-part exam covers topics such as auditing (auditing), risk assessment, fraud prevention and ethics, and compliance.
An Associate in Forensic Accounting (AFE) is a designation given by the American Academy of Forensic Sciences (AAFS). AFEs must be graduates of an accredited college or university that has a bachelor's in accounting.
What is an auditor? Auditors are professionals that audit organizations' financial reporting. Audits can be performed on either a random basis or based on complaints received by regulators about the organization's financial statements.