Accounting

Major/Career Profile

General Description

Accounting is the area of business that deals with analyzing and interpreting financial information as well as providing the financial information necessary for managerial decision making. There are two areas of emphasis in the accounting major: professional (public accounting) and managerial (private industry accounting)

Public Accounting: Public accountants perform auditing, taxation, accounting, and consulting services for clients. Public accountants can be certified if they pass CPA examinations and meet state legal requirements.

Managerial Accounting: Managerial or private accountants are salaried professionals of a business or corporation. They are responsible for providing financial information to assist management to plan and control company activities. Their focus is on internal accounting, auditing, tax, systems and financial analysis.

Government Accounting: Government accountants watch over the appropriation of funds and contracts to private organizations and agencies who must follow governmental rules and regulations. In addition, accountants also advise department managers, perform audit and tax work and conduct efficiency studies within the governmental structure.

In general, a bachelor's degree with an accounting major or 24 credits in accounting is required for entry into a professional position. Students planning to become CPAs must pass the CPA examinations and meet state legal requirements in education and experience.

Career Options

Graduates with this major have found work as: Accountant, CPA, Cost Accountant, Auditor, IRS Agent, Financial Analyst, Bank Officer, Controller, FBI Agent, Management Information Systems Manager, Credit Analyst, Financial Analyst, Appraiser, Banker, Contract Administrator, and Stock Broker. Some of these careers require additional education or experience. Various entry-level trainee positions in business and industry are available for graduates, regardless of academic discipline.

Typical Employers

Accounting firms, aerospace companies, banks, colleges and universities, computer industry, finance companies, government agencies, insurance companies, market research firms, petroleum industry, real estate development companies, self-employment, stock/securities brokers, travel/transportation industry, and utilities.

Salary and Employment Outlook

The demand for entry-level accountants and auditors in both public and private sectors is expected to grow about as fast as the average for all occupations through the year 2010. These job opportunities will become available as a result of growth, retirements or those who choose to transition into other occupations. In addition, growth in international business has also led to a demand for accounting expertise and services related to international trade and accounting rules, as well as international mergers and acquisitions.

A survey conducted by the National Association of Colleges and Employers revealed that bachelor's degree candidates in accounting received starting offers averaging $39,397 a year in 2001. In all areas of accounting, salaries will vary by size of firm, geographic location, level of education and professional credentials. In addition, course work and an individual's training and abilities are factors to be considered.

For further information, contact