Want to enter the world of accounting? These are the top five accounting jobs you can pursue if you are savvy with numbers, management, and organisation.
Each of the accounting jobs we will describe below have different education requirements, so it is important for you to choose the right degree (keep in mind that you are never too old to get back to school, especially now with the rise of online universities and degrees).
Here are the top five accounting jobs:
1. Tax accountant
Tax accountants are busy throughout the year, not just during tax-filing season. They prepare and file income tax information for individual, government and corporate clients and take measures to reduce their clients’ tax liabilities through their in-depth understanding of tax laws and regulations. Tax accountants also educate clients about the tax implications of proposed business plans, life changes and the like. The starting salaries range from $51,000 to more than $75,000.
Auditors earn a median salary of $65,940, while supervisory auditors earn an average annual salary of around $92,000. Auditors assess the fairness and accuracy of an organization’s financial statements, making sure that all financial information is valid and legal. They also test the internal methods of a clients’ accounting system in addition to reviewing and giving advice regarding accounts. Internal auditors bring companies into compliance and assist in improving businesses’ financial controls.
If you want to go the external auditors route, you would be investigating financial information on behalf of taxing entities and government authorities.
3. Cost accountant
Cost accountants’ work directly impacts a company’s profitability. Cost accountants determine the fixed and variable costs that are needed for a company to make goods or offer services by considering the cost of equipment, human resources, research and development and marketing. Companies use this information to determine the prices of their goods and services and to set budgets. Beyond this function, cost accountants also work with executives and managers to develop financial strategies. These professionals earn a median annual salary of $66,340.
4. Forensic accountant
This is one of the most lucrative, and more thrilling, accounting jobs. Forensic accounting involves investigating and analyzing financial records to find anomalies and irregularities. Forensic accountants are often hired by law enforcement agencies and attorneys to investigate crimes like embezzlement and fraud. They use the evidence gathered to reconstruct financial events. Often they are asked to testify as expert witnesses in court. Companies employ these financial professionals to develop strategies for preventing fraud in their company. Forensiv accountants earn an average starting salary of between $69,000 and $102,000.
5. Accounting Manager
Accounting managers manage the professional-level accounting functions of businesses and are tasked with preparing financial information for executives and managers of an organization. They examine a company’s financial information for forecasting purposes. Some of their regular duties and tasks include preparing, submitting, and presenting reporting on profits and losses, earnings, and costs. Accounting managers earn an average salary of between $45,000 and $65,000 per year.