Accounting refers to the
Accounting refers to the
processing, measurement, and communication of financial information about
economic entities including corporations and businesses. It can also refer to
the study of how businesses track their assets and income over time.
Accountants are tasked with a duty to record business transactions, prepare
financial statements, examine financial records to check for accuracy, prepare
tax returns, calculate taxes, ensure taxes are paid correctly and in due time.
Other duties and activities include: include computing costs and efficiency
gains from new technologies, recommending ways to decrease costs, increase
profits and boost revenues, health care benefits management, organizing
financial records and quality management. Accountants usually prepare written
reports to explain their suggestions and findings and meet with clients on a
regular basis ("The
Accounting Degree Review").
Other than running your own
accounting practice, understanding the fundamentals of accounting can help you
prepare for a wide range of careers. Accounting is a very flexible major that
can lead to numerous business related professions since students learn to
understand “the language of business.” One of the lucrative careers someone
with an accounting education can pursue is becoming an accounting clerk. This
is the personnel responsible for providing support for managers within the
department including accounting supervisors. They assist accounting personnel,
handle accounts payable duties, ensures files are complete and maintained as
required and Key in daily worksheets to the general ledger system. Another
career would be an auditing clerk. These are personnel responsible for among
other duties maintaining and updating accounting records, checking documents
and figures to ensure they’re coded properly and are accurate, and verifying
records posted by other workers. They also make notations of error for future corrections
Top-Paying Accounting Jobs - The Accounting Degree Review").
One perfect example of an
accounting position would be the billing clerk. This job requires one to have a
bachelor’s degree in accountancy or area of specialty and 2 to 4 years of
experience in the field or a related area. Such personnel would add value to a
company seeking them through maintaining all payment records, cash management,
budget planning and control, and tax handling functions.
A robust career in
accounting can be lucrative and financially rewarding with the top 10% earning
an average of $111,510 annually according to the Bureau Labor of Statistics. As
of 2015, the median pay was reported to be $32.30 per hour hence $67,190 per
year. Professionals with certifications (especially the CPA license) and a
graduate degree earn 5 to 15% more ("CPA Salaries - AICPA"). Additionally, the sector
is expected to grow at a supernormal pace of 13% and attain over 1.4 million
jobs in 2022 ("Accountants
and Auditors: Occupational Outlook Handbook: U.S. Bureau of Labor
Degree Review". The Accounting Degree Review. N.p., 2017. Web. 23
"CPA Salaries -
AICPA". Aicpa.org. N.p., 2017. Web. 23 Feb. 2017.
Auditors : Occupational Outlook Handbook: : U.S. Bureau Of Labor
Statistics". Bls.gov. N.p., 2017. Web. 23 Feb. 2017.
Accounting Jobs - The Accounting Degree Review". The Accounting Degree
Review. N.p., 2017. Web. 23 Feb. 2017.