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What Does it Take to Be an Accountant?

Career Description Analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.

What do Accountants do On a Daily Basis?

  • Analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice.
  • Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.
  • Advise management about issues such as resource utilization, tax strategies, and the assumptions underlying budget forecasts.
  • Prepare forms and manuals for accounting and bookkeeping personnel and direct their work activities.
  • Survey operations to ascertain accounting needs and to recommend, develop, or maintain solutions to business and financial problems.
  • Represent clients before taxing authorities and provide support during litigation involving financial issues.

Accountant Needed Skills

Accountants state the following job skills are important in their day-to-day work.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Mathematics: Using mathematics to solve problems.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Speaking: Talking to others to convey information effectively.

Types of Accountant Jobs

  • Accounting Supervisor
  • Budget Accountant
  • Accounting Officer
  • Industrial Accountant
  • Accounting Manager

Job Demand for Accountants

There were about 1,397,700 jobs for Accountants and Auditors in 2016 (in the United States).

New jobs are being produced at a rate of 10% which is lower than average. The Bureau of Labor Statistics predicts 139,900 new jobs for Accountants by 2026. There will be an estimated 141,800 positions for Accountant per year.

Forecasted Number of Jobs for Accountants in U.S.

The states with the most job growth for Accountants and Auditors are Texas, New York, and California.

Watch out if you plan on working in Maine, Alaska, or Wyoming. These states have the worst job growth for this type of profession.

Do Accountants Make A Lot Of Money?

The average yearly salary of an Accountant ranges between $43,650 and $122,840. The median salary is $70,500.

Salary Ranges for Accountants

How much do Accountants and Auditors make in each U.S. state?

Annual Mean Salary by State
State Annual Mean Salary

District of Columbia

$98,130

New York

$96,300

New Jersey

$90,400

Virginia

$85,640

Connecticut

$84,890

California

$84,430

Alaska

$82,920

Maryland

$82,610

Colorado

$82,320

Massachusetts

$81,460

Rhode Island

$81,090

Illinois

$81,060

Texas

$80,200

Washington

$78,970

Delaware

$78,120

North Carolina

$76,880

Georgia

$75,930

Vermont

$75,360

Pennsylvania

$75,250

Michigan

$74,370

Oklahoma

$73,040

New Hampshire

$72,690

Minnesota

$72,480

Ohio

$72,370

Florida

$71,790

Oregon

$71,450

Utah

$70,980

Maine

$70,810

Indiana

$70,780

Alabama

$70,310

Missouri

$70,240

Tennessee

$69,690

Arizona

$69,190

Wisconsin

$68,410

West Virginia

$68,160

Nebraska

$67,920

Arkansas

$67,700

Kentucky

$67,080

Iowa

$67,030

Louisiana

$66,860

Nevada

$66,600

Kansas

$66,530

Montana

$66,410

New Mexico

$66,370

Wyoming

$66,180

Idaho

$66,110

South Dakota

$65,800

Hawaii

$65,580

South Carolina

$64,750

Mississippi

$62,850

North Dakota

$61,870

What Tools do Accountants Use?

Below is a list of the types of tools and technologies that Accountants may use on a daily basis:

  • Oracle JD Edwards EnterpriseOne
  • Medical procedure coding software
  • Accountants Templates JAZZ-It!
  • SAP
  • Yardi
  • MEDITECH software
  • Oracle PeopleSoft Financials
  • SAP Crystal Reports
  • Data entry software
  • Sage MAS 200

Becoming an Accountant

What kind of Accountant requirements are there?

Accountant Degree Level

What work experience do I need to become an Accountant?

Accountant Work Experience

Where do Accountants Work?

Accountant Sectors

Career changers with experience as an Accountant sometimes find work in one of the following fields:

  • Statistical Assistants

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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