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Accountants and Auditors
 
Employment Increase: 32%
People In Field: 1,243,000
Average Salary: $31,500
Qualifications: Bachelor's Degree
 
Nature of the Work:
Accountants and auditors prepare, analyze, and verify financial reports and taxes, and monitor information systems that furnish this information to managers in all business, industrial, and government organizations. Four major fields of accounting are public, management, and government accounting, and internal auditing. Within each field, accountants often concentrate on one phase of accounting. Internal auditing is rapidly growing in importance. As computer systems make information more timely and available, top management can base its decisions on actual data rather than personal observation. Internal auditors examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste.

Training, Other Qualifications, and Advancement:
Most public accounting and business firms require applicants for accountant and internal auditor positions to have at least a bachelor's degree in accounting or a related field. Those wishing to pursue a bachelor's degree in accounting should carefully research accounting curricula before enrolling. Many states will soon require CPA candidates to complete 150 semester hours of coursework prior to taking the CPA exam, and many schools have altered their curricula accordingly. Some employers prefer those with a master's degree in accounting or a master's degree in business administration with a concentration in accounting. Most employers also prefer applicants who are familiar with computers and their applications in accounting and internal auditing.

Job Outlook:
Employment of accountants and auditors is expected to grow faster than the average for all occupations through the year 2005. There will be an estimated 1,243,000 accountants and auditors by 2005. Qualified accountants and auditors should have good job opportunities. Although the profession is characterized by a relatively low rate of turnover, because the occupation is so large many openings also will arise as accountants and auditors retire, die, or move into other occupations. CPA's should have the widest range of opportunities, especially as more states enact the 150-hour rule and it becomes more difficult to become a CPA.

Sources of Additional Information:

Information about different accounting licenses and the standards for licensure in your state may be obtained from your state board of accountancy. A list of the addresses and chief executives of all state boards of accountancy is available from:

National Association of State Boards of Accountancy
380 Lexington Ave., Suite 200
New York, NY 10168-0002

Information about careers in certified public accounting and about CPA standards and examinations may be obtained from:

American Institute of Certified Public Accountants
1211 Avenue of the Americas
New York, NY 10036-8775

Information on management and other specialized fields of accounting and auditing and on the Certified Management Accountant program is available from:

Institute of Management Accountants
10 Paragon Dr.
Montvale, NJ 07645-1760

National Society of Public Accountants and the Accreditation Council for Accountancy and Taxation
1010 North Fairfax St.
Alexandria, VA 22314

The Institute of Internal Auditors
249 Maitland Ave.
Altamonte Springs, FL 32701-4201

The EDP Auditors Association
455 Kehoe Blvd., Suite 106
Carol Stream, IL 60188-0180

For information on accredited accounting programs and educational institutions offering a specialization in accounting or business management, contact:

American Assembly of Collegiate Schools of Business
605 Old Ballas Rd., Suite 220
St. Louis, MO 63141

 

 
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