Bureau of Labor Statistics (BLS) Department of US quotes average annual wage in accounting majors as $70,130 through year 2011. An earning of Best-paid 10% was approximately $109,870 and Wages of Lowest-Paid was estimated $39,640.
As per BLS, Highest-paying salary for an accountant could be provided in following sectors:
- Securities and Commodities
- Financial Investments firms
- Federal Executive Branch
There is a wide array of subject courses options provided by Best Accounting University. As per BLS, Highest-paying career opportunities for accountants are in following areas of USA:
- New York City
- Newark, New Jersey
- Nassau, New York
- San Francisco, California
- San Jose, California
Responsibilities vary a lot among the four major types of accountants:
- Public accountants: Public accountants examine functions like auditing, tax preparation, and consulting for corporate, nonprofits organization and individuals. They may become Certified Public Accountant (CPA) and work for public enterprise or have their own businesses. They handle tax matters for clients and sometimes also offer advice on employee healthcare benefits.
- Management accountants: Record and analyze financial transaction of firms including budgets, assets and cost management along with performance evaluation. Financial reports are prepared for Stockholders, Creditors, Tax Authorities and Regulatory Agencies.
- Government accountants: Maintain financial records of Federal, Local or State level Government Agencies. Major task involved is to ensure that private firms plus individuals owing their own business; follow audit task as per the government norms. Revenue Service Agent is the common designation given to a government accountant by federal authorities.
- Internal auditors: Also known as Forensic Accountants investigate security of company's internal controls and checks for fraud or mismanagement.
As per BLS, the prospect for graduates of usual and online accounting degree programs may be tremendous. To qualify for most of the positions, you might require at least a bachelor’s level score in a related field. Overall, employment outlook might be good for graduate accountants having prior work experience in related field.
Few of the industries taken for a career in accounting are as listed below:
- Government agencies
- Non-profit organization
- Individual Firms
- Public Enterprise
Few of the Job titles that can be earned is as listed below:
- Financial Advisors
- Office Assistant and Supervisor
- Tax planners
On-campus and Online accounting degree programs are given by Universities and Colleges. Several universities and colleges offer a 5-year combined bachelor’s and master’s degree. For earning a highest grade, you must have a certification of CPA. To become a Certified Public Accountant (CPA), you must earn a bachelor’s degree in accounting as well as pass four-part AICPA certification exam. Major Degree levels in Accounting are as listed below:
Ph.D./Doctoral in Business Accounting
- Duration: 2 years after master’s study.
- Offered by: Campus based and Online Business colleges, university.
- Eligibility: Minimum master grade with relevant work experience and also pass exam of Certified Public Accountant (CPA).
- Ideal for: Earning a top most position as a Corporate CFO or who wish to become a professor in a business university.
Master’s in Accounting
- Duration: 1-2 years after bachelor's.
- Awarded by: Business, College, University.
- Requirement: Bachelors degree.
- Best suited for: Personnel who wish to move into a managerial or consulting marketing role such as Marketing Consultant or Manager.
Bachelor’s in Accounting
- Duration: 4-year.
- Given at: Best Business College, University & School.
- Necessity: High School Diploma/GED.
- Ideal as: Entry-level as well as Mid-levels Jobs in accounts.
Associate’s Degree Programs
- Duration: 2-year accounting degrees.
- Offered by: Business college, community colleges, trade plus vocational schools.
- Necessity: High School Diploma/GED.
- Best suited for: Entry-level work in areas such as Bookkeeper, Accounts Receivable Clerk, Billing Clerk and Payroll Clerk.
Projected report of Labor Statistics states 22 percent employment growth for accountants till year 2018. The estimated number of jobs that might increase is 190,700.On-Campus and Online Doctorate Degrees in Accounting might help in achieving the highest position to build a Career in Chartered Accountancy.