Careers in Accounting

Careers in Accounting

Accounting – along with such fields as architecture, engineering, law, medicine and theology – is recognized as profession? What distinguish a profession from other disciplines? There is no widely recognized definition of a profession, but all of these fields have several characteristics in common.

First, all professions involve a complex and evolving body of knowledge. In accounting the complexity and the ever changing nature of the business world, financial reporting requirements, management demands for increasingly complex information and income tax laws certainly meet this criterion.

In all profession, practitioners must use their professional judgment to resolves many problems and dilemmas. Throughout this text. We will point out situations requiring accountants to exercise professional judgment.

Accountings tend to specialize in specific fields, as do the members of the other professions. In terms of career opportunities, accounting may be divided into four broad areas: (1) public accounting (2) management accounting (3) governmental accounting (4) accounting education

Public Accounting

Certified public accountants offer a variety of accounting services to the public. These individuals may work in a CPA firm or as sole practitioners.

The work of public accountants consists primarily of auditing financial statements, income tax work, and management advisory services.

Management Accounting

In contrast to the public accountant who serves many clients, the management accountant works for one enterprise. Management accountants develop and interpret accounting information designed specifically to meet the various needs of management.

The chief accounting officer of an organization usually is called chief financial officer (CFO) or controller. The term controller has been used to emphasize the fact that one basic purpose of accounting data is to aid in controlling business operations. The CFO or controller is the part of top management team, which is responsible for running the business, setting its objectives and seeing that these objectives are met.

Governmental Accounting

Governmental agencies use accounting information in allocating their resources and in controlling their operations. Therefore, the need for management accountants in governmental agencies is similar to that in business organizations.

Accounting Education

Some accountants, including your instructor and authors of text book have chosen to pursue careers in accounting education. A position as accounting faculty members offers opportunities for teaching, research, consulting, and as usual degree of freedom in developing skills. Accounting educators contribute to the accounting profession in many ways. One, of course, lies in effective teaching; another, in publishing significant research findings; and a third, in influencing top students to pursue careers in accounting.

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