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 ("40 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 Statistics").
"The Accounting Degree Review". The Accounting Degree Review. N.p., 2017. Web. 23 Feb. 2017.
"CPA Salaries - AICPA". Aicpa.org. N.p., 2017. Web. 23 Feb. 2017.
"Accountants And Auditors : Occupational Outlook Handbook: : U.S. Bureau Of Labor Statistics". Bls.gov. N.p., 2017. Web. 23 Feb. 2017.
"40 Top-Paying Accounting Jobs - The Accounting Degree Review". The Accounting Degree Review. N.p., 2017. Web. 23 Feb. 2017.
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