ACCOUNTANTS AND AUDITORS

Nature of Work

Managers must have up-to-date financial information in order to make important decisions. 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. For example, many public accountants concentrate on tax matters, such as preparing an individual's income tax returns and advising companies of the tax advantages and disadvantages of certain business decisions.

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. 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 mbusiness administration with a concentration in accounting.

Persons planning a career in accounting should have an aptitude for mathematics, be able to analyze, compare, and interpret facts and figures quickly, and make sound
judgments based on this knowledge. They must be able to clearly communicate the results of their work, orally and in writing, to clients and management.

Job Outlook

Employment of accountants and auditors is expected to grow faster than the average for all occupations through the year 2005. Qualified accountants and auditors should have good job opportunities. 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.

Earnings

According to a College Placement Council Salary Survey in 1993, bachelor's degree candidates in accounting received starting salary offers averaging nearly $28,000 a year; master's degree candidates in accounting, over $30,000.

According to a survey of workplaces in 160 metropolitan areas, accountants with limited experience had median earnings of $24,700 in 1992, with the middle half earning between $22,200 and $27,500. The most experienced accountants had median earnings of $76,000, with the middle half earning between $68,500 and $84,600

Additional information may be contacting the following organizations:

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, or call 1-800-862-4272.

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.


