One of the most lucrative careers is that of the Certified Public Accountant or CPA in United States. Moreover, the growth rate of the career is faster than most others. It is growing at a rate of around 22% and the rate is likely to continue up to 2018 as per the BLS reports.
Reasons for Growth
One of the main reasons for the career growth has been strict accounting and auditing regulations as well as changes in financial laws combined with corporate regulations that have opened up multiple opportunities for the career aspirants. Enterprises globalizing their operations are in search of more and more numbers of Certified Public Accountants. Hence among all the public accountants, these are the people who can expect better salaries and other benefits.
Income Opportunities
An overview of income opportunities for public accountants as revealed in the BLS report indicates -
Certified public accountants earned median salaries of $59,430 in 2008 and over the last three years it has supposedly gone up to around $65,000 per annum.Highest earners that were earning around $102,380 in 2008 are now earning around $110,000 per annum.Highest salaries are earned by the corporate directors of accounting.Unfortunately, the scenario in the public sector is the reverse as those employed in this sector earned the least among all.Job Specifications
Usually the public accountants carry out the following tasks.
Take care of the tax implications of the business decisions.Giving advice on the spending of the company including the expenditure incurred on salaries and benefits to employees.Preparation of reports for the investors on financial status of the enterprise.Some public accountants work as external auditors and also as internal auditors.They ensure that the enterprise conforms to all government regulations.Special public accountants may deal with specific subjects like the information technology, forensics, environmental issues, and compliance.Education and Training
A bachelor’s degree in accounting and financing is the desired qualification for the job of public accountant. However, some of the candidates hold master’s degree in the subjects and also certification and specialized experiences with accounting as well as the auditing software.
For performing accountant works and submitting reports with the Security and Exchange Commission a public accountant needs to be licensed.