{"id":688,"date":"2022-06-15T20:17:15","date_gmt":"2022-06-15T20:17:15","guid":{"rendered":"https:\/\/theforage.wpengine.com\/?p=688"},"modified":"2024-07-19T16:44:57","modified_gmt":"2024-07-19T20:44:57","slug":"what-does-an-accountant-do","status":"publish","type":"post","link":"https:\/\/theforage.wpengine.com\/careers\/what-does-an-accountant-do","title":{"rendered":"What Does an Accountant Do?"},"content":{"rendered":"\n<p>Accountants are key figures in helping organizations and people keep their finances in order. For instance, they might ensure a company\u2019s financial records are correct and legal or file someone\u2019s annual tax returns. In other words, they handle <a href=\"https:\/\/www.theforage.com\/blog\/careers\/accounting\">accounting<\/a> or money matters. But what does an accountant do in their day-to-day work life? In this guide, we&#8217;ll discuss accountants&#8217; responsibilities and how to become one.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is\">What Is an Accountant?<\/h2>\n\n\n\n<p>So, what do accountants do? An accountant is a financial professional who tackles an array of duties. For instance, they might issue reports on a company\u2019s financial performance or track an organization\u2019s business transactions. A corporate or private accountant works internally for a company, like <a href=\"https:\/\/www.theforage.com\/blog\/companies\/guide-to-citi\">Citi<\/a> or <a href=\"https:\/\/www.theforage.com\/blog\/companies\/guide-to-jpmorgan\">JPMorgan Chase<\/a>.&nbsp; On the other hand, public accountants work for an <a href=\"https:\/\/www.theforage.com\/blog\/companies\/top-accounting-firms\">accounting&nbsp; firm<\/a> or business that provides accounting and other <a href=\"https:\/\/www.theforage.com\/blog\/careers\/financial-services\">financial services<\/a> to clients.<\/p>\n\n\n\n<p>According to the U.S. Bureau of Labor Statistics (BLS), there were <a href=\"https:\/\/www.bls.gov\/oes\/current\/oes132011.htm#nat\">around 1.4 million<\/a> accountants and <a href=\"https:\/\/www.theforage.com\/blog\/careers\/auditor\">auditors<\/a> in the U.S. in 2022 and employment of these accounting professionals is estimated to grow about <a href=\"https:\/\/www.bls.gov\/ooh\/business-and-financial\/accountants-and-auditors.htm\">6%<\/a> over the coming decade.&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cPursuing a career in accounting is hard work, but you\u2019ll likely find it to be a rewarding career,\u201d says Richard Deosingh, district president in the New York City office of staffing company Robert Half International.<\/p>\n\n\n\n<div class=\"wp-block-group forage__cta-pattern is-vertical is-content-justification-center is-layout-flex wp-container-core-group-is-layout-1 wp-block-group-is-layout-flex\">\n<h2 class=\"wp-block-heading has-text-align-center\">Find your career fit<\/h2>\n\n\n\n<p class=\"has-text-align-center\">Discover if this is the right career path for you with a free Forage job simulation.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.theforage.com\/course-catalog\">Learn more<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"duties\">Responsibilities<\/h3>\n\n\n\n<p>Depending on where they work, accounting professionals may handle responsibilities like:<\/p>\n\n\n\n<ul>\n<li>Reviewing budgets<\/li>\n\n\n\n<li>Preparing tax returns<\/li>\n\n\n\n<li>Creating reports about an organization\u2019s finances<\/li>\n\n\n\n<li>Tracking a business\u2019 profits and losses<\/li>\n\n\n\n<li>Reconciling bank statements<\/li>\n\n\n\n<li>Helping to keep an organization\u2019s spending in check<\/li>\n\n\n\n<li>Going over employees\u2019 expense reports<\/li>\n\n\n\n<li>Drafting financial forecasts<\/li>\n\n\n\n<li>Recommending ways to cut costs, improve revenue and boost profit<\/li>\n\n\n\n<li>Ensuring the security of financial data<\/li>\n\n\n\n<li>Evaluating an organization\u2019s financial risks<\/li>\n\n\n\n<li>Unearthing fraud and other financial misdeeds<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"types\">Types of Accountants<\/h3>\n\n\n\n<p>Accountants can specialize or become certified in specific types of accounting. For instance, <a href=\"https:\/\/www.theforage.com\/blog\/careers\/certified-public-accountant\">certified public accountants (CPAs)<\/a> are state-licensed professionals who have met specific work and educational requirements and passed a CPA exam.<\/p>\n\n\n\n<p>CPAs can perform select duties that a non-CPA can\u2019t. For example, they can conduct financial <a href=\"https:\/\/www.theforage.com\/blog\/skills\/auditing\">audits<\/a> and sign audit opinions for public companies, says Tim Yoder, tax and accounting analyst for the Fit Small Business website.<\/p>\n\n\n\n<p>Other types of accounting specialties include:<\/p>\n\n\n\n<ul>\n<li><a href=\"https:\/\/www.theforage.com\/blog\/careers\/forensic-accounting\"><strong>Forensic accountants<\/strong><\/a> who investigate (and often testify in) cases of financial fraud<\/li>\n\n\n\n<li><strong>Government accountants<\/strong> who manage financial affairs for government agencies and audit organizations that are subject to government regulation and taxation<\/li>\n\n\n\n<li><a href=\"https:\/\/www.theforage.com\/blog\/careers\/what-is-a-certified-management-accountant\"><strong>Management accountants<\/strong><\/a> who analyze financial data for businesses and provide decision-making advice to senior leadership<\/li>\n\n\n\n<li><a href=\"https:\/\/www.theforage.com\/blog\/careers\/how-to-become-a-tax-accountant\"><strong>Tax accountants<\/strong><\/a> who specialize in analyzing and filing tax returns for individuals and businesses<\/li>\n\n\n\n<li><strong>Auditors<\/strong> who ensure financial records are accurate, properly managed, and compliant with state and federal laws<\/li>\n<\/ul>\n\n\n\n\t<div class=\"forage-core-course-card\">\n\t\t<div class=\"forage-core-course-card__inner\">\n\n\t\t\t<div class=\"forage-core-course-card__col\">\n\t\t\t\t<div class=\"forage-core-course-card__row\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"113\" src=\"https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-150x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"PwC\" srcset=\"https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-150x113.jpg 150w, https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-300x225.jpg 300w, https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-1024x769.jpg 1024w, https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-768x577.jpg 768w, https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-1536x1153.jpg 1536w, https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2022\/07\/Working-at-PwC-2048x1538.jpg 2048w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h2 class=\"forage-core-course-card__name\">PwC Audit<\/h2>\n\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"forage-core-course-card__description\">Learn fundamental auditing skills with this free job simulation from PwC. <\/p>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"forage-core-course-card__button forage-core-course-card__button--desktop\">\n\t\t\t\t\t\t<a href=\"https:\/\/www.theforage.com\/virtual-internships\/prototype\/N9wYyLnaWpizw8Yjy\/Audit-Virtual-Experience-Program\" target=\"_blank\">\n\t\t\t\t\t\t\tEnroll now\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t<div class=\"forage-core-course-card__col\">\n\t\t\t\t\t\t\t\t\t<p class=\"forage-core-course-card__time\">\n\t\t\t\t\t\t<span class=\"label\">Avg. Time:<\/span>\n\t\t\t\t\t\t4 hours\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"forage-core-course-card__skills\">\n\t\t\t\t\t\t<span class=\"label\">Skills you&#8217;ll build:<\/span>\n\t\t\t\t\t\tAnalysis, documentation, communication, policy interpretation, compliance analysis, issue identification, client communication, process documentation\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"forage-core-course-card__button forage-core-course-card__button--mobile\">\n\t\t\t\t\t\t<a href=\"https:\/\/www.theforage.com\/virtual-internships\/prototype\/N9wYyLnaWpizw8Yjy\/Audit-Virtual-Experience-Program\" target=\"_blank\">\n\t\t\t\t\t\t\tEnroll now\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t<\/div>\n\t<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"pay\">How Much Do Accounting Professionals Make?<\/h2>\n\n\n\n<p>Especially with adequate education and training, you can earn a comfortable living in accounting. As of May 2022, the average pay in the U.S. for accounting professionals was $86,740 a year, according to the BLS. Additionally, accountants working in areas like media, computer manufacturing, and software publishing often see salaries over $100,000.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cUnemployment in the accounting field is virtually nonexistent. You\u2019ll find your skills are always in high demand, and you should be able to command an attractive salary for this specialized work,\u201d Deosingh says.<\/p>\n\n\n\n<p><strong>&gt;&gt;MORE:<\/strong> Check out some of the <a href=\"https:\/\/www.theforage.com\/blog\/careers\/best-paying-jobs-in-finance\">best-paying finance careers<\/a>.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-become\">How to Become an Accountant<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Education and Background<\/h3>\n\n\n\n<p>You typically need a four-year degree to become an accountant,&nbsp; since most states require a bachelor\u2019s degree to take the CPA exam. However, many CPAs choose to pursue master&#8217;s or other advanced degrees to meet the education credit hour requirements for licensure. Additionally, some employers prefer to hire someone who earned a master\u2019s degree.<\/p>\n\n\n\n<p>While a degree in accounting is recommended, it isn&#8217;t necessary. Studying areas like <a href=\"https:\/\/www.theforage.com\/blog\/careers\/is-finance-a-good-career-path\">finance<\/a>, <a href=\"https:\/\/www.theforage.com\/blog\/careers\/economics-definition-and-overview\">economics<\/a>, business, or even STEM can help you build a foundation of specialized skills that can be great for standing out from the crowd and finding a niche in accounting. For instance, a background in business is perfect for those who want to pursue management accounting. Or, studying computer science alongside finance can be great for finding accounting roles in <a href=\"https:\/\/www.theforage.com\/blog\/companies\/what-companies-in-technology-field\">tech companies<\/a>.&nbsp;<\/p>\n\n\n\n<p><strong>&gt;&gt;MORE:<\/strong> Explore some of the <a href=\"https:\/\/www.theforage.com\/blog\/careers\/accounting-major-jobs\">different career options for accounting majors<\/a>.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Certifications and Licenses<\/h3>\n\n\n\n<p>To become a CPA, generally, you must meet a minimum number of college credits, obtain a specific amount of work experience in accounting, and pass a state-sanctioned CPA exam. For example, in Texas, you must complete 150 credit hours in accounting at an accredited college or university, work at least one year under the supervision of a CPA, and pass the state\u2019s CPA exam.<\/p>\n\n\n\n<p>Other certification options available to accountants include:<\/p>\n\n\n\n<ul>\n<li>The Certified Government Financial Manager (CGFM)<\/li>\n\n\n\n<li>The Certified Internal Auditor (CIA)<\/li>\n\n\n\n<li>The Certified Management Accountant (CMA)<\/li>\n\n\n\n<li>The Certified Information Systems Auditor (CISA)<\/li>\n<\/ul>\n\n\n\n<p>Specific requirements vary, but each designation generally involves passing an exam and meeting set minimums for work and education experience.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Skills<\/h3>\n\n\n\n<p>Accountants need specialized skills in financial reporting, calculating core metrics like <a href=\"https:\/\/www.theforage.com\/blog\/skills\/how-calculate-profit-margin\">profit margins<\/a>, and applying the <a href=\"https:\/\/www.theforage.com\/blog\/skills\/gaap\">generally accepted accounting principles (GAAP)<\/a>.&nbsp;<\/p>\n\n\n\n<p>\u201cAccounting jobs aren\u2019t just about number-crunching. In addition to needing skills in the latest <a href=\"https:\/\/www.theforage.com\/virtual-internships\/prototype\/qsuRRyXDZ7Dj2QFx4\/Introduction-to-Cloud\">cloud software<\/a>, <a href=\"https:\/\/www.theforage.com\/blog\/skills\/what-is-microsoft-excel\">Excel<\/a>, and risk and compliance, accountants must have a high level of business acumen, <a href=\"https:\/\/www.theforage.com\/blog\/skills\/collaboration-skills\">collaboration<\/a>, and <a href=\"https:\/\/www.theforage.com\/blog\/skills\/communication-skills\">communication<\/a> skills,\u201d Deosingh says.<\/p>\n\n\n\n<p>More skills accountants need to succeed include:&nbsp;<\/p>\n\n\n\n<ul>\n<li><a href=\"https:\/\/www.theforage.com\/blog\/skills\/attention-to-detail\">Attention to detail<\/a><\/li>\n\n\n\n<li>Organization<\/li>\n\n\n\n<li><a href=\"https:\/\/www.theforage.com\/blog\/skills\/analytical-skills\">Analytical skills<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.theforage.com\/blog\/skills\/time-management\">Time management&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.theforage.com\/blog\/careers\/project-management\">Project management<\/a>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Explore other <a href=\"https:\/\/www.theforage.com\/blog\/careers\/careers-in-finance\">careers in finance<\/a> and learn the skills you need to get hired with Forage&#8217;s <a href=\"https:\/\/www.theforage.com\/course-catalog\"><strong>free<\/strong> job simulations<\/a>.<\/p>\n\n\n\n<p><em>Image credit: nd3000 \/ Depositphotos.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Accountants are key figures in helping organizations and people keep their finances in order. For instance, they might ensure a company\u2019s financial records are correct and legal or file someone\u2019s annual tax returns. In other words, they handle accounting or money matters. But what does an accountant do in their day-to-day work life? In this &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/theforage.wpengine.com\/careers\/what-does-an-accountant-do\"> <span class=\"screen-reader-text\">What Does an Accountant Do?<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":12,"featured_media":689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"forage_sticky_bar_enabled":true,"forage_sticky_bar_content":"Get noticed by top recruiters!","forage_sticky_bar_button_text":"Learn more","forage_sticky_bar_button_url":"https:\/\/www.theforage.com\/course-catalog","site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"forage_editor_id":17,"forage_reviewer_id":0,"forage_authors":[],"veps":[3894,4024],"forage_sidebar":0,"forage_related_disabled":false,"forage_toc_enabled":true,"forage_toc_level":0,"modified":"2023-08-31T11:30:00","footnotes":""},"categories":[5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.5 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Does an Accountant Do? - Forage<\/title>\n<meta name=\"description\" content=\"What does an accountant do? 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