Accounting Career: Outlook and Overview

There are several accounting career paths that you can explore with an online accounting degree, depending on the specialization you choose, your degree level, certification requirements and the amount of experience you have. Here are some career paths that might be pursued by someone with an accounting degree who meets all applicable qualifications:

Your career path in accounting could lead to varying roles within this industry. Some of them have overlapping areas of responsibility, while others are more specialized. Based on information from Indeed and BLS, accounting careers include, but are not limited to:

Tax accountants work with individuals and organizations to help them file annual tax returns and comply with the Internal Revenue Code. They also help individuals and business owners plan for future tax reporting by helping them understand the implications of changes in the tax code and how to avoid certain tax burdens.

Public accountants, many of whom are Certified Public Accountants (CPAs),¹ may also work in the area of tax preparation. Combining experience and knowledge in data management, economics, financial planning and tax law, they provide a variety of accounting and consulting services and advise their clients on important personal financial matters. Public accountants generally have their own businesses or work for public accounting firms. The Securities and Exchange Commission (SEC) requires publicly traded companies to have CPAs sign off on the documents, such as annual and quarterly reports they submit to the SEC.

Typically concerned with the accurate reporting of financial transactions that have already occurred, this career in accounting generally involves working with revenues and disbursements, which includes managing or participating in general ledger accounting, accounts payable and receivable, payroll, grant management and fixed assets. Financial accounting is primarily concerned with the process of compiling financial information for external reporting (to tax authorities, investors and other parties) using generally accepted accounting principles (GAAP).

There are a few different types of auditors, and each may hold certain industry-recognized certifications. 

Managerial accountants, or management accountants, analyze the past performance of an organization or business unit to make predictions about its future performance. They work internally to monitor and assist with an organization’s financial planning. Preparing documentation that is typically meant for internal stakeholders rather than the public, managerial accountants create and analyze budgets to meet the short- and long-term goals of their organizations.

Forensic accountants often work on legal cases. Their specialized skills are deployed to investigate the financial records of both businesses or individuals, which can require them to recreate information that is either missing from financial documentation or not available. The objective in forensic accounting is to gather all available documentation and accurately account for transactions in various financial statements.

According to BLS data, accountants and auditors held 1,538,400 jobs in the United States in 2022. Who were their largest employers? The BLS breaks it down this way:

Depending on the position you’re looking to pursue, the degree you choose to earn may vary.

At DeVry, we offer accounting degrees at both the undergraduate and graduate levels. If you’re just getting started, a bachelor’s degree can be a great first step. If you’re looking to expand your skills and continue your education, you might consider earning a master’s degree or graduate certificate.

There are several professional certifications that accounting professionals can pursue. One commonly recognized accounting credential is the Certified Public Accountant (CPA).¹ Becoming a CPA requires passing a four-part exam and completing at least 150 semester hours of post-secondary coursework related to accounting, in addition to other requirements. At DeVry, many of our accounting programs include elements of Becker Professional Education’s CPA Exam prep built right into the coursework, so you’ll gain exposure to today’s most relevant accounting principles.¹

Earning your accounting degree or certificate here at DeVry may prepare you for many responsibilities, including:

As we look ahead, the job outlook in accounting continues to be positive.

The U.S. Bureau of Labor Statistics (BLS) projects employment of accountants and auditors to grow 4% from 2022 to 2032, with about 126,500 job openings each year, on average, over this period.² This growth is projected on a national level and local growth will vary by location. This projection is not specific to DeVry University graduates and may include earners at all stages of their careers.

Factors contributing to the demand for accountants and auditors, according to the BLS, include globalization, a growing economy and a complex tax and regulatory environment.

Accounting can be an excellent career field for people who are detail-oriented and interested in numbers. Since accounting is an essential function in virtually every organization, there is a wide variety of industries that you can consider pursuing. Accounting roles are available in both large and small businesses, and accounting professionals can perform a wide variety of tasks from budgeting and planning to forensic accounting.

The best career in accounting depends on you and your specific interests. Think about what areas of accounting interest you, as well as what roles your unique skills, education and experience might help you qualify for. Here are some accounting jobs you might be interested in learning more about:

CFOs are high-level executives who oversee the finances of a company. Professionals in these positions may have years or even decades of experience in addition to graduate-level degrees in areas such as accounting or finance.

CPAs may work in a variety of different companies and may be called upon to help confirm the accuracy of their accounts or provide advice on how they can be more financially efficient. CPAs can also open their own accounting firms.

Tax accountants help both people and companies when tax season comes, as well as throughout the year. Often, they are tasked with helping their clients prepare their documents, assist with tax planning and file their returns.

Finance managers work with clients to help them manage investments, their own finances or help a company maintain financial health. They may be retained by a few clients at once, though some work with a single client over an extended period of time.

Bookkeepers are accounting professionals who use accounting principles to track the flow of money across a business's operations.

If you’re looking to enter the accounting field, here are a few potential benefits you might experience: 

There are certain jobs in the accounting field that only a Certified Public Accountant, or CPA, can do. For example, if you plan to work with companies that are publicly traded on one of the stock exchanges, the SEC requires you to be a CPA to file their documents. To obtain the CPA credential you must study for and pass the Uniform CPA Examination. The exam is administered by the Association of International Certified Public Accountants (AICPA) and has 4 sections:

If you’re already employed in the accounting field with a bachelor’s degree and are ready to explore new career opportunities, consider earning a master’s degree. 

According to the BLS, some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with an accounting concentration. At DeVry, we offer 4 master’s degree paths in accounting, including 2 MBA degrees that are available in 100% online or hybrid formats³, allowing you to pursue your degree while maintaining a full-time job and keeping up with your personal commitments.

Coursework in our Master’s Degree in Accounting program covers accounting theory and practices, material needed to pursue professional licensure,¹ advanced accounting studies, accounting regulations and standards and accounting research. It can help you prepare to pursue careers such as:

Another option for accounting professionals with a bachelor’s degree and some accounting industry experience is a Master of Business Administration, or MBA degree. The curriculum of an MBA with a specialization in accounting in particular may help as you work to build an understanding of managerial theory and financial accounting in a business environment. Graduates of our MBA with a Specialization in Accounting may consider careers such as: