Accounting Job Outlook

Accounting is arguably one of the most prestigious careers in the
contemporary world. It mainly involves the preparation, as well as
examination of financial records to ensure that the information
presented therein is accurate (Eisen, 2007). On the same note, they
ensure that a business entity, individual, or corporation has remitted
the appropriate amount of taxes at the right time (Panda, 2006).
Accountants, in general, evaluate the financial operations of a business
entity and strive to ensure that they are run in an efficient manner
(Gaylord & Ried, 2006).
There are varied titles that an individual in the accounting field may
have. One may be a management accountant, whose analysis of financial
information is meant for internal usage purposes (Panda, 2006).
Government accountants, on the other hand, analyze and record financial
information for organizations that are subject to government taxes,
while public accountants carry out a broad range of auditing, tax,
accounting and consultancy for individuals, corporations and governments
(Gaylord & Ried, 2006).
Accountants have a median yearly wage at $61690, as at May 2010 with
the lowest 10% earning lower than $38940 while the top 10% took over
$106, 880 (Bureau of Labor Statistics, 2013). Accountants usually work
for less than 40 hours a week, though the number of hours may increase
at certain times of the years (Eisen, 2007).
In 2010, a total of 1,216,900 accountants were employed, a figure that
is projected to increase in the coming years. It is projected that the
employment prospects for auditors and accountants will increase by 16
percent for the decade from 2010 to 2020 (Bureau of Labor Statistics,
2013). This is especially because of the stricter regulations in the
financial sector that have the potential to heighten demand for
accountants as business entities and organizations strive to meet the
new standards. On the same note, business entities are required by new
lending standards to demonstrate that they are creditworthy, which
heightens the important of accountants.
References
Bureau of Labor Statistics, (2013). Occupational Outlook Handbook,
2012-13 Edition, Accountants and Auditors,
on the Internet at HYPERLINK
“http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.
htm” “_new”
http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.h
tm (visited May 15, 2013).
Eisen, P. J. (2007). Accounting. Hauppauge, N.Y: Barron`s Educational
Series.
Gaylord, G. L., & Ried, G. E. (2006). Careers in accounting. New York:
McGraw-Hill.
Panda, J.K (2006). Accounting & Finance For Management. New York: Sarup
& Sons
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