The Variety of Future Careers for Accounting Majors
Accounting is needed in every industry. Thus, an accounting degree opens up many career opportunities in business and finance. Career paths include auditing, data analysis, tax management, and plenty more.
Why Choose Accounting?
Accounting is a highly regarded profession, offering job security and advancement opportunities.
The accounting industry is expected to grow 7% this decade, with more than 1.4 million jobs by the end of 2022, according to the U.S. Bureau of Labor Statistics (BLS). An expanding economy, complex tax and regulatory environment, and globalization are expected to be drivers of demand for accountants and auditors.
Accounting is a field that always seems to be in demand. Businesses of all types rely on accountants to analyze and report financial data, prepare tax documents, audit accounts, and serve as financial consultants. Accountants are also responsible for making sure their companies are compliant and following regulatory standards.
Career options available to individuals with an accounting degree include:
- Accountant—manages the reporting of financial data of an organization, including preparing financial statements, examining and analyzing a company’s accounts, and ensuring compliance with financial reporting and other standard accounting procedures.
- Auditor—ensures the validity of financial data; examines financial statements for accuracy and legal compliance; prepares tax returns; and analyzes account books and accounting systems for corporations to ensure efficiency and accuracy.
- Bookkeeper—oversees the financial data of an organization; records and maintains financial transactions including purchases, expenses, sales revenue, invoices, and payments. Ensures accuracy of transactions and books.
- Financial analyst—performs financial forecasting, reporting, and operational metrics tracking; analyzes financial data and creates financial models for decision support; reports on financial performance and offers reviews for leadership.
- Tax Manager—manages clients’ taxes; creates tax payment schedules; develops company policies that encourage tax savings; watches for tax law changes and potential tax liabilities.
These positions require a general knowledge of business and finance concepts. Successful accountants are skilled in problem solving and analysis.
Technological changes and increasing globalization are factors in the growing demand for accounting professionals.
The accounting profession is known to offer job security, competitive salaries, and is held in high regard.
Accounting professionals need a good mix of hard and soft skills.
- Apply Generally Accepted Accounting Principles (GAAP), which are a collection of commonly followed accounting rules and standards for financial reporting.
- Develop policies and procedures that align with regulations and standards. Accountants must be prepared to take corrective action when necessary.
- Technical proficiency. Accountants should be adept at using accounting software, such as spreadsheet software, as well as business analytics and digital records software.
- Analytical skills to review financial statements, prepare tax returns, and audit financial records.
- Detail-oriented. Must be able to detect errors in financial documents and transactions.
- Problem-solving skills—the ability to find solutions and overcome issues that could result from accounting mistakes.
Relevant Education for Accounting Careers
Accounting degree programs cover topics such as business, economics, financial accounting, and statistics that prepare individuals for several roles in many types of industries. John Carroll University’s Bachelor of Science degree in Accountancy provides students with hands-on experience and exposure to emerging trends that will set them apart in the job market. The 65-credit program is part of the Boler School of Business.
JCU is a private Jesuit university located in University Heights, Ohio, near Cleveland.