Accounting jobs are set to see significant growth over the next decade. Small and large businesses depend on auditors and accountants to monitor the budget and expenses. Businesses also depend on these professionals to help prepare tax returns. Additionally, companies require accountants to help interpret the latest accounting laws, which was enacted in response to Enron as well as other scandals in accounting.Boekhouder ZZP Hoofddorp
Despite the different names, auditors and accountants typically share the same duties. They enter company expenses and report every day. They also look over their monthly expense reports, remaining on top of any processes which are costing the company excessive amounts of money. In addition, during tax season they complete federal and state tax returns. They also meet with other managers regarding the company’s expenses and develop budgets for cost-cutting strategies.
In small-sized businesses are accounting positions described as “accountants” as opposed to “auditors.” Larger companies typically employ a variety of subcategories of accountant and auditor jobs. They first employ public accountants who use databases of the company to review the company’s expenditure. Public accountants also advise the corporate management on budget plans and can recommend budget reductions through lay-offs of employees. A majority of professional accountants in the public sector have the status of Certified Public Accountants (CPAs) and a large portion of them specialize in taxes for corporations. If they are specialized on tax-related accounting, they can advise the company’s management on how certain financial decisions can impact the tax return of their clients. Public accountants’ other responsibilities include the creation of benefits packages like insurance and retirement plans. In this scenario they are also known as payroll accountants.
The other accountants are management and cost accountants. They present periodic financial reports to the top management of the company, so that these managers are well informed prior to making crucial decision. Since these accountants are focused on operating costs they provide management with advice on budget cuts which will benefit the business without degrading efficiency of the company. They also conduct a performance assessment of company operations. For example an industrial cost analyst might observe a manufacturing company’s operations and create an analysis of which processes are inefficient. The accountants typically work with the project and operations managers of large companies in keeping them updated about their financial situation.
Other kinds of accounting jobs include federal accounting positions. The accountants could also be Internal Revenue Service (IRS) agents. Federal government employs accountants to create budgets for different government agencies and departments. But, even local governments employ accountants to develop local budgets as well as manage government assets. They also are well-aware of rules and regulations of the government regarding accounting. So, they ensure all businesses and individuals within their jurisdiction submits regularly tax returns. If they find any non-participating entity, or a company that has supplied an unusual financial report They visit the office or the home of the party for auditing.
The most popular type that accountants can be found in is the internal control auditor, often referred to as an accountant who is forensic. It is the most recent type of accountant as it was created as a result of corporate accounting scandals, like laundering operations. Forensic accountants oversee and enforce internal controls to the accounting software that is used by their business. They offer advice to management on financial transactions that could violate state or the federal laws on accounting. Thus, they are well-versed about accounting software as well as the regulations of the government.
In addition to security, internal-control auditors also manage waste through “cleaning out” the company’s database system. Similar to management accountants and management accountants, they pay attention to the business’s activities and identify expenses or jobs that are overburdened in the budget. While reviewing their activities, they check the compliance of the laws of their state, Federal laws and corporate guidelines. As accountants play multiple tasks, they could be referred to as auditors of information technology as well as compliance auditors.
Auditor and accountant positions require a deep understanding of accounting software. The software has completely substituted ledgers for records-keeping “books.” Accounting professionals are usually more familiar working with Microsoft Excel and Intuit QuickBooks. In the course of using this software accountants are able to set internal controls as well as perform accounting analysis. They use this software when they write reports for government or management officials.
All accountants with a high-paying job require the CPA license. The CPA license is granted by the board of each state’s accountancy, but the CPA examination is computer-based and uniform. This license requires an undergraduate degree in accounting in each state, prescribing 150 semester hours divided between business and accounting classes. Certain states also require experience in accounting which students can accomplish through internships or summer accounting positions.
Without passing the CPA exam auditors and accountants may struggle to move up within their professions. Actually accounting professionals who file reports to the Securities and Exchange Commission (SEC) must have an CPA. The CPA exam will test your the knowledge about Generally Accepted Accounting Procedures (GAAP) as well as tax accounting, business administration and federal regulations the analysis of accounting, assets management and more. The CPA exam is an average of 14 hours of study and each of its four components being 4.5 minutes to finish. The exam is so thorough that only half of participants pass it every year. After they have passed their CPA accountants are legally required to renew it annually at the an internal examination mandated by the state. Accountants usually renew their CPA by attending professional-association courses.
If economic activity continues to expand accounting professionals and auditors will be able to find jobs in accounting. To remain ahead of the curve, they should stay current with the latest accounting laws so that they can provide a solid direction to the managers who employ them. They could also obtain a master’s in business administration or accounting and seek the highest level of certification from accounting organizations. In addition, they should improve their internal controls skills so that they are able to spot any potential mistakes before they become full-blown accounting scandals.
A. Harrison Barnes is the CEO and founder of EmploymentScape The parent company that operates more than 90 websites for job search and employment services, as well as recruiting companies and student loan firms. EmploymentScape (originally Juriscape) employs hundreds of employees across 14 offices across Europe, the United States, Asia, and Europe. The companies were essentially started in Harrison’s garage a few years ago following Harrison had quit his job.