Add It Up: Four Questions (and Answers) about Accounting

Accountants are in high demand these days, due to stricter financial laws regulations and a growing number of new companies. The field also pays well; a starting salary averages around $43,269 for accountants with bachelor's degrees and $46,251 for master's degree holders.

What Do Accountants Do?

Accountants have an important role helping companies prepare and analyze financial documents to keep accurate records and comply with tax laws. But many accountants are taking on new roles, such as providing financial and investment planning, information technology consulting, and budget analysis. Auditors help verify the accuracy of financial records and check for fraud or mismanagement of funds.

What Kind of Degree Do I Need?

You'll need at least a bachelor's degree in accounting to get started, but some employers prefer master's degrees. A master's degree in business administration or finance can give you the education edge needed to land a lucrative job in this field. Many accounting students get internships to gain experience. Getting licensed as a certified public accountant (CPA) can also boost your job prospects as well. Most states require CPAs to have a college degree. Generally, CPAs must complete continuing education requirements to renew their license. The good news? Most, if not all, of these requirements can be obtained through an online degree program.

What Skills Are Required?

Accounting jobs require strong math skills, as well as the ability to analyze and interpret figures. Accountants also need to be good verbal communicators and have effective writing skills. Because of the sensitive nature of the data with which accountants work, they also need to be ethical. Knowledge of different accounting software packages is also essential in today's economy.

What Will My Job Be Like?

Most accountants work a 40-hour workweek, but those who are self-employed may work longer hours, especially during tax season. Working for a government agency or public accounting firm could mean frequent travel.

If you have the patience to work with complex financial records and good organizational skills, going to accounting school could help you land a hot job with good pay.

Source

• Bureau of Labor Statistics, "Accountants and Auditors"