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Jobs In The Growing Field Of Accounting

Updated on May 10, 2016
Patty Inglish, MS profile image

Ms. Inglish is a successful Employment & Training pro setting Midwest regional records with tens of thousands placed to gainful employment.

Accountability And Accounting

Accounting is germane to nearly every type of business and organization today, as well as to the home for personal finance, household inventories, and related matters. If for no other reason, accounting principles are important, because they install a framework of organization over anything to which they are applied.

This organizational matrix reveals many factors; i.e., errors, shortages, overages, missing information or items, all types of discrepancies, areas where your resources can be better handled and/or invested, and even cases of someone trying to take advantage of you. Accounting and it organizational principles are important.

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Legal Accounting Requirements Are Increasing

Every for profit and nonprofit organization in America needs to have yearly external and/or internal audits of its activities, especially financial administration and for many of them, these audits are legally mandatory.

Accountants and accounting clerks work in completing these audits and can be used to install correct accounting procedures and monitor them on a daily day basis for any organization. In fact, most medium to large companies in America have accountants on staff, while small companies may either have a part-time accountant or consult with a CPA quarterly.

Whether we enjoy mathematics or not, accounting is a useful discipline that most individuals, regardless of job title, can benefit from understanding. It is applicable to all job fields and its importance highlighted by the emergence and growth of the field of Forensic Accounting, used in the Bernie Madoff case. This was a long-term case of a Ponzi Scheme that finally collaped.

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Commercial And Government Accounting

Accounting auditors study financial statements in order to evaluate the accuracy and integrity of business operations, while treasurers and CEOS judge business results by examining accounting statements of past and present, comparing trends.

Business operators currently are more fully accountable for financial practices since the 1980s. Evangelical ministers, particularly TV the personalities, came under scrutiny for tax problems and alleged fraud. Enron and other companies produced crises when an accounting auditor failed to report illegal accounting practices. Campaign finances are in question during every election year and financial accounting is part of every candidates vetting and every nominee’s background check for public office by appointment.

All of this is becoming a part of Forensic Accounting.

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Personal Accounting

Accounting is useful for personal benefit in daily life. One can study personal financial statements in order to make wise investment decisions, assess interest rates for home mortgages, and even to figure monthly car payments among a choice of cars one wishes to consider. Accounting is useful for determining just what student loan payments will be and how many years they will cover, before a student takes on those loans.

In business, accounting is used every day in many areas of operation: sales projections, vision planning, taxes, payroll, inventories, invoicing and collections, and several dozen additional aspects. In personal life, accounting can help you maintain an awareness of how much money you have in your checking account and whether your bank statements are accurate.

CPA Careers - by the California Society of CPAs

Accounting Careers

Accounting jobs can lead to stable careers, even in a recession. This is because businesses are looking to cut all the waste that they possibly can eliminate, while maximizing their assets to produce the largest amounts of income and profits possible. Accountants, auditors, and clerks are needed to make that happen by analyzing operations and finances and taking measures of controlling them. Both private business and all levels of government employee workers in accounting jobs, even during a recession.

Hottest Accounting Sectors

Forensic Accounting - This is hot career field in the 21st century. Forensic accountants earn degrees in accounting and secure the designation of CPA - Certified Public Accounting through testing and licensing. Some are also CFEs - Certified Fraud Examiners. In this career field, students study taxation, fraud, and litigation. Only two universities in the USA offer an Executive Masters Degree in Forensic Accounting that is designed for company executives.

Information Technology - The IT Industry use CPAs and clerks in technology accounting. The use a variety of software packages and help to create new accounting software and systems.

Environmental Accounting - Companies and government agencies use CPAs, along with auditing and accounting clerks, to ensure their compliance with audits in the face of Environmental Law.

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Hot Job Titles in Accounting

Financial Analyst – One of the Top 10 Fastest Growing Jobs in America, according to Forbes.com. Financial analysts work with budgeting and forecasting in business to determine how their companies can gain the most profits. This is a high demand job in many of the Top 25 or Top 30 Cities in the US for Business or Jobs in the US, as determined by a variety of economic and financial entities. Management and senior analysts are in most demand.

Internal Auditor – Internal auditors improve internal controls and help meet legal compliance requirements. There is a strong demand for internal auditors and their salaries are rising accordingly. These can be very highly-paid positions.

External Auditors – Audits are mandatory for many public and private businesses at regularly scheduled intervals, often yearly. Public accounting firms hire external auditors for this purpose. CPAS with over 3 years experience are most in demand.

Compliance Officer – These officers at the executive level in corporations and agencies keep control of their organizations in regards to corporate governance laws and regulations. They ensure compliance with the law. These are very highly-paid 6-figure salary positions.

Examine the link at Searching for the Best College in order to find the program baest suited for your educational and career goals.

© 2009 Patty Inglish MS

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    • Patty Inglish, MS profile imageAUTHOR

      Patty Inglish MS 

      6 years ago from USA. Member of Asgardia, the first space nation, since October 2016

      The more regulations and changes, the more jobs I think.

    • the girls profile image

      Theresa Ventu 

      6 years ago from Los Angeles, California

      Thank you for promoting the Accountants :-) Another important role of this profession is the complex tax system in the United States. Tax laws continually change and accountants are abreast with these changes for the benefit of its clients.

    • alocsin profile image

      alocsin 

      7 years ago from Orange County, CA

      Excellent information on accounting. I'm linking this to my accounting jobs hub and voting it Up and Useful.

    • profile image

      Riaan - All Accounting Jobs 

      7 years ago

      Hi Patty,

      I was interested in your article mentioning the hottest accountant positions (even though it's largely USA based). From running a South African Accounting Jobs website, we get far more positions in for the lower end of the scale, like general bookkeepers, creditors / debtors and some such.

      I wonder if this will change as South Africa gets more grounded in their new role as partner in the BRICS set of counties?

      In any event, thanks for the informative article - it was much appreciated :)

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