Accountants do what other professionals do, but in the eye of the public, they are almost always lower-paid employees. But an accountant’s main focus in life is his or her degree. Accountants get their education through either a four-year university or a professional college. After that, they must go through training to pass the certification exam.
In most cases, people go to a four-year university for their Bachelor of Science degree. A Bachelor of Arts (BA) degree takes less time, but doesn’t offer the same career protection as a Bachelor of Science (BS). The difference between an accountant and a financial planner is that a financial planner can help set up pension plans and retirement accounts, while an accountant can manage the books. Accountants who want to open their own firm or work for a large firm should focus on their accounting degree, especially because bookkeeping, payroll and taxes are always at the forefront of any business’s activity.
A typical Bachelor of Science degree program in accounting covers many different topics. In general, the program includes courses in mathematics, business, statistics and accountancy. Typically, graduates will study accounting principles, managerial behavior, statistical analysis, management theory and macro-financial issues. Some accountants choose to specialize in one or a few of these areas, though it is not mandatory to. In fact, many accountants find that they can succeed without having specialized training in one or more of these areas.
Most accountants also take additional classes in public administration, taxation and law. These classes can be very useful to an accountant’s career, especially if these professionals want to continue to grow their portfolio of clients or increase their clientele. After graduation, many accountants decide to go to work for firms in a variety of fields. While this may seem to imply that they can no longer practice their hobby – accounting – these professionals can actually enter various government agencies or corporate entities as a part of the public accounting staff. Many public accounting agencies need an accountant on staff because accountants usually hold advanced degrees in finance and accounting.
Becoming a certified public accountant requires gaining a bachelor’s degree. This degree is obtained by taking classes that typically take two years. Many accountants choose to continue with their studies in business, but others opt to go for a higher degree such as a master’s or doctoral degree. Many accountants will also opt to attend refresher courses every year in order to keep their licenses current. This allows accountants to continue to work in an area that they are happy with while also staying up to date with the latest laws and changes in the accounting field.
What do accountants do? Auditors look into an individual’s business to determine if it is making a profit. An audited financial statement is a report that details what the company has lost or profited from year to year. An audited financial statement will go into a profit and loss statement, balance sheet, and a statement of cash flows. These reports will allow an individual or entity to see where their money is going and whether or not the business is able to survive and still make a profit.