Pursuing an Accounting Degree

There continues to be a high demand for accountants. In fact, some of the recent events in the news, such as the highly publicized incidents of business fraud, have created an even higher demand for qualified accountants. Businesses are being held to a higher level of accountability in their recordkeeping practices, increasing their need for a good accounting staff. The increased visibility of the accounting profession and the higher demand for good accountants has made getting an accounting degree even more lucrative than before. The U.S. Department of Labor's Bureau of Statistics has estimated that the demand for accounting professionals should continue to increase at least through 2014. If these employment projections hold true, there should be over 5 million accountants and auditors employed by 2014. That number represents an increase of approximately 18 to 24 percent since 2004.

Just as with all other professions, there are certain personality traits and skill sets that could make accounting a good match for you. Accountants by their very nature must have a certain love of numbers and math, since a good majority of their job involves these skills. Logical thinking skills, good analytical abilities, and the ability to synthesize information and make decisions based upon the facts that are given are also important for accountants. Good solid computer skills and a certain amount of technological savvy are also a necessity, since today's accounting world is heavily dependent upon accounting software, spreadsheets and databases. Working as an accountant generally means that you will be part of an overall team. As such, good communication skills and the ability to work well with others are also important. Good communication skills will also ensure that you will be able to work well on projects where you have to collaborate with employees in other departments. Educational requirements for an accounting degree vary by state. Coursework generally includes finance, accounting, economics, commercial law, and communications.

The role you aspire to as an accountant will be dependent upon your level of education as well as your skills and personal interests. Many people, once they achieve a degree in accounting, continue on to become a Certified Public Accountant (CPA). Becoming a CPA is a requirement for those who wish to start their own accounting private practice. Many large companies also prefer to hire CPAs for all of their accounting positions. The requirements for becoming a CPA vary somewhat depending on the state. A bachelor's degree in accounting is required, along with approximately 150 semester hours in coursework which is required by the State Board of Accountancy. There are also requirements for work experience as an accountant. Once these requirements are met, a passing score must be received on the CPA exam. There are also Certified Management Auditors (CIAs), who work directly for an employer, and Certified Management Accountants (CMAs), who usually work for an employee but sometimes work for the public.

Depending on your employer, an accounting position might involve performing audits, using software to work with financial statements and accounting ledgers. Tax accounting is another popular role which is always in high demand. If you have good management and decision making skills, you might aspire to management accounting. In this role, an accountant will work with other departments to perform the kinds of business analysis that is used to make capital budgeting decisions.

Budget analysis and the preparation of financial statements are two other common roles for an accountant. Some accountants also start their own business, providing accounting services from their own home. Whichever direction you choose to pursue, a career in accounting can be very lucrative and rewarding.