By DeVry University
February 7, 2023
8 min read
February 7, 2023
8 min read
If you’ve ever considered a career in accounting, you’ve most likely thought about what accountants do and where they work. You also may have considered the different types of accountants working in both the public and private sector, the various specialties within the profession and where you might make your mark in the field.
When we talk about those who’ve chosen a career in accounting, we often speak of Certified Public Accountants (CPAs). You don’t have to be a CPA to work in the accounting profession, but a career path in accounting does involve varying educational, certification and licensure requirements. In this article, we’ll take a close look at what accountants do, where they work, different accounting careers and options for continuing education.
Examining financial statements to ensure their accuracy and compliance with laws and regulations.
Computing taxes owed by individuals or organizations, preparing tax returns and ensuring that taxes are paid on time.
Inspecting account books and accounting systems for efficiency and the use of generally accepted accounting procedures (GAAP) and identifying potential risks for fraud.
Organizing, analyzing and maintaining financial records.
Suggesting ways to reduce costs, enhance revenues and improve profitability.
24% worked for accounting, tax preparation, bookkeeping and payroll services
8% worked in finance and insurance
8% worked in government
7% worked in management of companies and enterprise
4% were self-employed
The work environment for accountants will vary according to the type of work they do. Most accountants work in an office environment, but some work from home and others may travel to visit clients.
External Auditors: External auditors provide financial documentation to third parties for feedback. In this case, the third party is a reliable source in describing if a company’s financial statement is a representation of GAAP. External auditing is conducted by a Certified Public Accountant.
Internal Auditors: Internal auditors determine the effectiveness of internal accounting processes and identify ways to improve processes for identifying and eliminating waste, fraud and other liabilities. Internal auditors can review employee departmental responsibilities, management policies and approval procedures and provide useful feedback that can help a company improve profitability or efficiency. Some public companies or government agencies may require their internal auditors to hold the Certified Internal Auditor (CIA) certification.
IT Auditors: Information technology (IT) auditors keep tabs on controls for their organizations’ IT systems to make sure that all financial and non-financial data come from reliable sources.
Public Accounting: As the title of this role implies, a public accountant is someone who works with the public – individuals or organizations – as an independent third party who prepares financial documents, reviews clients’ financial reports, prepares and files tax returns and may provide audits, consulting services and tax advising. As stated earlier, this type of accountant is likely to hold the CPA certification.
Private Accounting: In contrast to their public counterparts, private accountants are typically employed by a single company and work internally. Private accountants analyze and prepare their company’s financial reports, and may also deal with accounts payable, accounts receivable and payroll. Their main objective is to set up internal systems to record transactions, which will then help inform the company’s financial statements.
Auditing and Attestation (AUD)
Financial Accounting and Reporting (FAR)
Regulation (REG)
Business Environment and Concepts (BEC)
Each exam section is taken separately and, once you’ve passed all 4 sections, you may be required to take an additional ethics examination required by your state before applying for your state-issued CPA license.
According to BLS, all states require CPA candidates to complete 150 semester hours of college coursework to be licensed and to take continuing education courses, including ethics courses, to maintain licensure. Furthermore, to retain your certification and AICPA membership, you must meet certain CPE requirements.
Accounting Manager
Budget Analyst or Budget Director
Credit Analyst
Director of Financial Planning †
Director of Taxation †
Financial Analyst
Forensic Accountant Fraud Investigator †
Merger and Acquisitions Analyst
† Employment in this occupation may require years of relevant experience.
Accountant
Auditor
Environmental Green Accountant
Financial Manager
Financial Planner
Internal Auditor
Management Accountant
Payroll Staff Manager
Public Accountant †
† Employment in this occupation may require years of relevant experience.
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In New York, DeVry University operates as DeVry College of New York. DeVry University is accredited by The Higher Learning Commission (HLC), www.hlcommission.org. The University’s Keller Graduate School of Management is included in this accreditation. DeVry is certified to operate by the State Council of Higher Education for Virginia. Arlington Campus: 1400 Crystal Dr., Ste. 120, Arlington, VA 22202. DeVry University is authorized for operation as a postsecondary educational institution by the Tennessee Higher Education Commission, www.tn.gov/thec. Naperville Campus: 1200 E. Diehl Rd., Naperville, IL 60563. Unresolved complaints may be reported to the Illinois Board of Higher Education through the online compliant system https://complaints.ibhe.org/. View DeVry University’s complaint process https://www.devry.edu/compliance/student-complaint-procedure.html Program availability varies by location. In site-based programs, students will be required to take a substantial amount of coursework online to complete their program.
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