Accounting

Description of Industry

The accounting industry involves recording, classifying, and summarizing financial transactions to provide useful information for business decisions and compliance with laws and regulations. Accountants prepare financial statements, conduct audits, and offer tax planning and advisory services to individuals, businesses, and governments. 

Something Cool

Accounting is one of the oldest professions, dating back to ancient Mesopotamia. 

Types of Companies

• Public Accounting Firms: Provide audit, tax, and consulting services.  Examples: Deloitte, PricewaterhouseCoopers (PwC).

• Corporate Accounting Departments: Handle internal financial management and reporting.  Examples: Finance departments within companies like Apple, Microsoft.

• Government Accounting Agencies: Manage public funds and ensure compliance with regulations.  Examples: Internal Revenue Service (IRS), Government Accountability Office (GAO).

• Nonprofit Organizations: Oversee financial operations and ensure proper use of funds.  Examples: Red Cross, United Way.

Further Education & Credentials

• Bachelor’s Degree: Typically in accounting, finance, or a related field.

• Certifications:

  • Certified Public Accountant (CPA)

  • Certified Management Accountant (CMA)

  • Certified Internal Auditor (CIA)

  • Chartered Financial Analyst (CFA)

• Master’s Degree: An MBA or Master’s in Accounting can be beneficial for advanced roles.

• Continuing Professional Education (CPE): Required to maintain certifications.

Entry Level Roles 

• Accounting Assistant

  • Description: Supports accountants by performing administrative tasks, maintaining records, and preparing financial documents.

  • Skills Required: Attention to detail, proficiency in accounting software, strong organizational skills.

• Junior Accountant

  • Description: Assists in preparing financial statements, reconciling accounts, and ensuring compliance with accounting standards.

  • Skills Required: Analytical skills, knowledge of GAAP, proficiency in Excel.

• Audit Associate

  • Description: Works with audit teams to examine financial records and ensure accuracy and compliance.

  • Skills Required: Critical thinking, attention to detail, strong communication skills.

• Tax Associate

  • Description: Prepares tax returns, researches tax issues, and assists with tax planning.

  • Skills Required: Knowledge of tax laws, analytical skills, proficiency in tax software.

How To Learn More

• Talk to someone doing the role you want.  Check out my writings on The Gift of Asking for Help, Mentors and Networking 101 on The Search page to learn how to do this.

  • Better understand your own skills and where you will be successful at Roles.

  • Check out my writings on various industries and departments at the Industries page.

• Already know what you want to do but are looking for general guidance on how to find a job?  Check out The Search for advice.