Accounting Career Outlook

A public accountant can have a wide range of accounting, auditing and tax responsibilities. Some public accountants have their own businesses while others work for public accounting firms. They often work with financial documents that are required by law, such as tax return preparation for individuals or corporations. Public accountants are expected to have deep knowledge of data management, economics, financial planning and tax law.

This role involves maintaining the records of government agencies, as well as the auditing of organizations and individuals for compliance with government regulations and tax laws. Government accountants can be employed at the federal, state or local level, and are responsible for ensuring that revenue is both received and spent appropriately.³

Sometimes referred to as cost or corporate accountants, management accountants are responsible for overseeing accounting and financial records in order to help guide decision-making. They are also responsible for developing budgets so that organizations can efficiently plan for the cost of doing business.

People in this role are responsible for ensuring the appropriate use of an organization’s funds, revenue and internal controls. Typically, external auditors are employed by an outside organization, rather than the organization that is being audited. Responsibilities include reviewing financial statements and determining whether they have been fairly prepared and reported.

An internal auditor has responsibilities that are similar to that of an external auditor, but this role is found within an organization and is dedicated to finding ways to improve efficiencies and reduce financial risks.

Depending on the industry or position you’re looking to pursue, the level of 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.

• Our accounting programs include: Bachelor’s in Accounting
• Bachelor’s in Business with an Accounting Specialization
• Bachelor’s in Business with a Finance Specialization
• Master’s in Accounting
• Master’s in Accounting and Financial Management
• MBA with a Specialization in Accounting
• MBA with a Specialization in Finance
• Graduate Certificate in Accounting
• Graduate Certificate in CPA Preparation

There are several professional certifications that accounting professionals can pursue. One commonly recognized accounting credential is the Certified Public Accountant (CPA).⁴ 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.⁵ 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.²

Other accounting certifications include:

• Certified Management Accountant (CMA)
• Certified Fraud Examiner (CFA)
• Certified Internal Auditor (CIA)
• Certified in Financial Forensics (CFF)
• Chartered Global Management Accountant (CGMA)
• Certified Government Auditing Professional (CGAP)
• Certified Financial Services Auditor (CFSA)
• Certification in Risk Management Assurance (CRMA)

Based on estimates from the Bureau of Labor Statistics, the accounting career field is expected to experience positive job growth. Their most recent estimates show that between 2020 and 2030, the career field is expected to grow by 7% on a national level, adding roughly 96,000 jobs.¹

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 are 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:

• CFO: 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.
• CPA: 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 Accountant: 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 Manager: Finance managers work with clients in order 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.
• Bookkeeper: Bookkeepers are accounting professionals who use accounting principles to track the flow of money across a business's operations.

Like any career field, accounting may have its pros and cons. Here are a few things you might consider.

Pros of an Accounting Career

1. If you’re looking to enter the accounting field, here are a few potential benefits you might experience: Wide range of industries – Since virtually every organization needs accountants, there are a wide array of industries that you may have the potential to work in.
2. Flexibility –Accounting careers can be flexible, and can sometimes allow for both in-office or remote work depending on your industry or specific position.
3. Potential to own your own business– With certain professional designations such as a CPA license, you may be able to start your own business helping companies or individuals with their finances.
4. Variety of positions – Accounting roles run the gamut from managing a company’s finances to using accounting principles to solve financial crimes. Whatever your interests are, there’s sure to be a role that suits you.

Cons of an Accounting Career

1. Competitive job market – Depending on the industry and the level of the accounting jobs you’re interested in, the accounting field can be competitive. Continuing your education with a Master’s Degree in Accounting or an MBA with a Specialization in Accounting may help you consider broader range of accounting careers.
2. Busy seasons – Tax season, for example, often requires accountants to work longer hours, which may or may not suit your lifestyle and family needs.
3. Education requirements – According to the Bureau of Labor Statistics, accounting positions typically require a bachelor's degree1, but may require graduate-level degrees or professional certifications. Even if you already work in the field, you may want to consider advancing your skills, especially if you’re thinking about pursuing a different accounting role.