All Things About The Accountants That You Must Know

For years, accountants have been the closing of jokes. Whenever a comedian or a sitcom needs a “boring” career immediately turn to accounting. Indeed, accounting is a dynamic and fast paced field that offers many opportunities for career advancement. It is an attractive option for both young people and those looking to change careers.

Do not let the stereotype “bean counter” fool you. Accounting is an important field that helps customers, both large and small, to navigate through the complicated and dangerous worlds of taxation and finance.

Before embarking on a path to become an accountant, you should first assess their talent and taste for mathematics. If you do not like mathematics, or are not very good at it, you might want to consider a different profession.

Education

A great way to start a career as an accountant is to obtain a bachelor’s degree in the subject. Note that to earn more bachelor’s degrees who needs 120 semester hours, but most states require certified public accountants (CPA) to have 150 semester hours. It is recommended that you check the requirements of the state you want to work in before enrolling in a program accredited accounting.

After obtaining a degree in accounting you have the option to join the workforce or get a degree. You can choose from a Master of Accountancy (MACC) or an MBA with an emphasis in accounting. A MACC puts students on a fast track to become a certified public accountant or a certified management accountant. An MBA with an emphasis in accounting is wider in scope as it provides training in business concepts and management strategy.

There is a route for a possible counter can take and you are getting a certificate in accounting or an associate degree in accounting. This type of certification can be obtained at most community colleges. This is a solid choice for potential accountants who are on a budget and want to land a position entry level as soon as possible.

Exam

The term “certified public accountant” hears much. What do you mean exactly? Sounds like an accountant, running down the hall; you pay a fee, and received a meaningless piece of paper. Actually, it is much harder to obtain than that. To become a CPA you have to take a four-part examination of two days. You have to pass all four sections of the test to get your certificate. And it is a severe test. Only a quarter of all applicants pass all four parts. It is highly recommended that you give yourself enough time to study.

Also, before you can take the proof you need experience in accounting degree and real life’s degree. It is advisable to look for an internship, while going to school.

Types of Accounts

During his quest to become an accountant will come a time when you must choose the specific type of accounts you want to do. There are four main types of accounts: the government, internal audit, management and public. Note that within each of the fields mentioned before there are other subcategories. The four main categories are discussed below.

Government Accounting

This type of accounting will have to keep financial records of government agencies or audit firms must comply with federal regulations. Choose this type of accounting if you want to work for the Internal Revenue Service.

Internal audit

Internal auditors are as guardian’s financial dogs. They audit the finances of your company for waste, fraud and inefficiencies. They ensure that the financial records of the company comply with all necessary regulations.

Management accounting

Enter the field of management accounting if you want to work for companies. These types of accounts, also called “corporate accounts” maintain financial records, perform financial analysis, and help with the budget.

Public accounting

This is a vast field, but most CPAs help people with their taxes. Some public accountants work for companies and help them with a myriad of financial decisions regarding transactions, benefits and insurance.