Are you interested in a career as an accountant? Read on for information about qualifications, job outlook, and salary ranges. Here are 5 top accounting jobs with the highest pay ranges. To learn more, contact us. We will help guide you in making the right choice. We'll look out for the right job that matches your interests and qualifications. We will keep this information current as the field develops.
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. Other professional certifications you may pursue, including the Certified Internal Auditor (CFA) and Certified Fraud Examiner (CIA), will also help increase your salary. A college degree is not necessary for a career as an accountant, but additional certifications and education can help you get a better job.
If you're passionate about numbers and enjoy working with numbers, you may want to consider becoming an accountant. This profession has steady demand across the country and offers high salaries. An accounting bachelor's will give you many options in different fields. CPA certification is another option. Based on your experiences, you may even consider a career with forensic accounting.
Salary ranges
Accounting careers offer a wide range of salaries, with some being more lucrative than others. Senior professionals often command the highest salaries. Senior accountants, auditors, cost accountants and cost accountants typically earn between $70,000 to $120,000 annually. If you are an intern or a first-level employee, however, your salary range could be significantly lower. Depending on your education level and experience, you can make between $57,110-$128,680 per annum.
The median salary for an Accounting and Finance professional is 117,000 USD per year. This means that 50% earn less than the median salary for Accounting and Finance professionals, and half earn more. Hence, the median represents the middle-of-the-road wage. The ideal situation is to be on either the left or right side of this graph. More experience is generally a plus. The average salary for an accountant in New York City is 125,000 US Dollars per year.
Perspectives for the future
The U.S. Bureau of Labor Statistics tracks the job market and projects an 11 percent increase in 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 may fluctuate depending on your job market, skill level, experience, and local job market.
The outlook for accountants in the future is bright and the salary range is competitive. People with high professional and educational skills have plenty of options. Salaries can vary greatly between areas, and experience plays a significant role in determining the 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 remains positive. Technological advancements are bringing new opportunities to the accounting industry. Students need to choose their area of specialization and determine the expected salary range.
FAQ
What is bookkeeping?
Bookkeeping refers to the process of keeping financial records for individuals, companies, or organizations. It includes recording all business-related expenses and income.
Bookkeepers maintain financial records such as receipts. They also prepare tax returns and other reports.
What is the average time it takes to become an accountant
Passing the CPA test is essential in order to become an accounting professional. Most people who wish to become accountants study for around 4 years before taking the exam.
After passing the test, one has to work for at least 3 years as an associate before becoming a certified public accountant (CPA).
What is the purpose accounting?
Accounting is a way to see a financial picture by recording, analyzing and reporting transactions between people. 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.
Accounting professionals record transactions to provide financial information.
The data collected allows the organization to plan its future business strategy and budget.
It is vital that the data are reliable and accurate.
Statistics
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- 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)
- 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)
- 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)
- 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)
External Links
How To
How to be an Accountant
Accounting is the science that records transactions and analyzes financial data. It can also involve the preparation statements and reports for various purposes.
A Certified Public Accountant (CPA), is someone who has passed a CPA exam and is licensed by the state boards of accounting.
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 years' experience in investment is required by the AAII before an individual can become an AFA. To pass the examinations, they must have a good understanding of accounting principles.
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 or CMA is a professionally certified accountant who specializes only in management accounting. CMAs must pass exams administered by the ICAEW and maintain continuing education requirements throughout their career.
A Certified General Accountant or CGA member of American Institute of Certified Public Accountants. CGAs are required take several exams. The Uniform Certification Examination is one of them.
International Society of Cost Estimators has awarded the certification of Certified Information Systems Auditor. The three-level curriculum for CIA candidates includes practical training, coursework, and a final exam.
Accredited Corporate Compliance officer (ACCO) is a distinction granted by the ACCO Foundation, and the International Organization of Securities Commissions. ACOs are required to hold a baccalaureate degree in finance, business administration, economics, or public policy and must pass two written exams and one oral exam.
A credential issued by the National Association of State Boards of Accountancy is called a Certified Fraud Examiner. Candidates must pass at least three exams to be certified fraud examiners (CFE).
International Federation of Accountants is accredited a Certified Internal Audior (CIA). Candidates must pass four exams covering topics such as auditing, risk assessment, fraud prevention, ethics, and compliance.
An Associate in Forensic Accounting (AFE) is a designation given by the American Academy of Forensic Sciences (AAFS). AFEs should have a bachelor's degree from an accredited college, university or other educational institution in any area of study.
What does an auditor do? Auditors are professionals who perform audits of financial reporting systems and their internal controls. Audits can be conducted randomly or based upon complaints from regulators regarding the organization's financial reports.