Professional accounting is important to small businesses, large corporations, and even individuals. Great accountants often belong to a society of certified public accountants or state cpa societies and keep up to date on the latest updates to the laws regarding accounting through listening to industry experts at seminars for accountants. All accountants should serve as a tax resource for their clients of all sizes. Over half of Americans need to hire a professional accountant for personal returns or business tax help. Here are some facts about accounting:
Accountants have numerous business related skills
Accountants must be well versed in tax code, tax law, and general accounting procedures including book keeping. Accountants also must know the hiring documents required for payment from companies to its employees. They are also skilled at information technology and are computer savvy when it comes to collecting, reporting, and analyzing data. Since accountants are highly involved in the business world, many also provide advice and counsel for other major business decisions as well as serve as a tax resource.
Accountants go through a rigorous education, training, and testing process to achieve accreditation in their field
Public accountants must take a test called the Certified Public Accountants Exam, or CPA exam, to practice accounting in addition to applying for a license to practice. To take the Certified Public Accountants exam, an individual must complete 150 hours of education in their bachelors degree program. After completing the accreditation, CPAs work at regional firms, local firms, or international firms known as the “Big-Four” of public accounting, including PwC, Deloitte, EY, and KPMG. According the Bureau of Labor Statistics, there will be an increase in accounting job openings within the next six years. At the moment, women are the majority of all auditors and accountants in the United States. References: ospa.org