Careers in Accounting

• Employment Data

• Salary Information

• Current Trends

• Cool Career Web Sites

• Where to look for more information

 

Employment Data

• There are four kinds of accountants.

1. 'Public accountants' work for public accounting companies. Some have their own businesses. They do many different kinds of accounting for people outside the company. Specialty areas include audit, tax, and consulting. CPA's hold certificates issued by state boards of accountancy. Some states require approximately 150 hours of college level course work and 2-3 years work experience.

2. 'Management accountants' keep track of the money spent and made by the companies for which they work.

3. 'Internal auditors' make sure that a company's accounting records are right. They check the records to see that no one in the company is stealing. They also check to see that no one in the company is wasting the company's money.

4. 'Government accountants' and auditors' make sure that government accounting records are right. They also check the records of people doing business with the government. Government departments that employ the largest number of accountants and auditors include Agriculture, Defense Audit Agencies, Energy, FBI, Health and Human Services, Air Force, Navy, Army, Transportation, General Accounting, and Treasury (IRS).

• The 2004-2005 Occupational Outlook Handbook for accountants and auditors outlines working conditions, employment, training, earnings and more.
  
   The new edition emphasizes the impact that new legislation will have on the industry through 2012. BLS predicts an increased need for accountants and auditors "to address changes in legislation related to taxes, financial reporting standards, business investments, mergers, and other financial matters."
  
   In addition, BLS says "the growth of international business also has led to more demand for accounting expertise and services related to international trade and accounting rules, as well as to international mergers and acquisitions."
  
  Specific trends predicted in the handbook include the following:
  
  
  1. CPAs will be in high demand due to increased scrutiny of company finances and accounting procedures.
  2. Management accountants and internal auditors will increasingly be needed to discover and eliminate fraud.
  3. Government accountants should be in demand to make government agencies more efficient and accountable. 
  4. Forensic accountants will be needed to detect illegal financial activity by individuals, companies and organized crime rings. ("As success rates of investigations grow, demand will also grow for forensic accountants.") 
  5. Accountants will shift away from tax preparation due to the increasingly popularity of tax prep software and tax prep firms.

• Accountants and auditors held about 1.1 million jobs in 2002. They worked throughout private industry and government, but 1 out of 5 wage and salary accountants worked for accounting, tax preparation, bookkeeping, and payroll services firms. Approximately 1 out of 10 accountants or auditors were self-employed

• Many accountants and auditors are unlicensed management accountants, internal auditors, or government accountants and auditors; however, a large number are licensed Certified Public Accountants. Most accountants and auditors work in urban areas, where public accounting firms and central or regional offices of businesses are concentrated.
  Some individuals with backgrounds in accounting and auditing are full-time college and university faculty; others teach part time while working as self-employed accountants or employed as accountants for private industry or government.
  
  

• Within the accounting field, 20% are employed in public firms, 65% in non-profit and private firms, and the remaining 15% are employed in government or educational settings.

 

Salary Information

• Based on the Bryant University Undergraduate Employment Survey*, the average salary for accounting majors who graduated in:

Graduation Date	Average Salary
May 2000	$35,182
May 2001	$38,989
May 2002	$38,857

• Accountants are taking on more responsibility in areas of business analysis. MBA degrees are increasingly relevant to moving to an executive position. However, employers looking to fill entry level positions requiring an advanced degree often hire master in accounting graduates over MBA's.

• Communication skills are at a premium. Great opportunities are available for accountants with the ability to use new information technology. There seems to be a high demand for tax and health care areas and the forensic accounting area within the government.

• As jobs become more complicated, the tendency to specialize becomes even greater.

•   Public Accounting Report has published its annual ranking of America's Top 100 Accounting Firms, and it's no surprise that Andersen, the previous number five ranked firm, is no longer on the list. http://www.accountingweb.com/item/95611

1. PricewaterhouseCoopers: $8,056.5 million
2. Deloitte & Touche: $6,130 million 
3. Ernst & Young: $4,485 million 
4. KPMG: $3,171 million 
5. Grant Thornton: $432.5 million 
6. BDO Seidman: $353 million 
7. BKD: $210.9 million 
8. Crowe, Chizek & Co.: $204.7 million 
9. McGladrey & Pullen: $203 million 
10. Moss Adams: $163 million
    

• www.cpazone.org-Created by the Pennsylvania state society - Contains interactive games, career information and many prizes.

• www.tomorrowscpa.org-The Maryland society's Web site contains useful information for students about the accounting profession in the United States.

• www.incpas.org/Students/index.htm-The Indiana society's Web page helps students to find all the required information how to become a CPA.

• www.calcpa.org/community/careers/index.html-The California society's student Web page -  Contains excellent profiles of young CPAs and offers a variety of interesting articles.

• www.futurecpa.org-The Illinois society's Web site - Full of fun and important information for students and professionals.

• CPA2Be.org-A comprehensive Web site for students created by the Kansas state society.

If you would like more information about the Accounting concentration, call the Office of Admission and Financial Aid at (800) 622-7001 or (401) 232-6110   E-mail: admissions@bryant.edu