7 Types of Accountants Who Do More than Just Taxes

7-Types-of-Accountants-Who-Do-More-than-Just-Taxes

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Behind every good business is a great accountant. Poor financial management leads most companies to fail during the initial months. Accountants help the business to remain safe by keeping track of what goes in and out of the organization. Even if your business is profiting, you’ll still need an accountant to manage taxes, make real-time decisions, and plan for future profitability.

With an accounting degree, you’ll be able to find employment in nearly every business. Indulging into this career allows you to foster highly intellectual skills like detail orientation, analytical ability, communication, leadership, business acumen, etc. On average, accountants made $71,000 during the year 2019. There is also an 11% growth rate in this line of work.

Another great thing about pursuing accounting is that you won’t have to spend years and years trying to gather enough expertise to jump-start your career. Having a bachelor’s degree in accounting is nice. Still, you can fast-track your way into this profession by enrolling in an online master of accounting. This program offers you adequate knowledge of tax and stats. Since it’s online, you get the flexibility of taking classes from anywhere at any time. It also saves you a great deal of time and money which should be your mantra as an accountant. So if you’re good with numbers and have a keen eye for detail, what’s stopping you from pursuing accounting as a career? And, if you’ve already made up your mind, continue reading to discover the options you get to choose from in this line of work.

  1. Auditors

Accounting isn’t just about handling money. It’s about making some good money too. An average auditor with only two years of experience makes something around $65,000 annually. As long as the business world is popping, auditors will always have jobs. It’s not a job that can get replaced by technology. Auditing isn’t just some boring desk job. Auditors are consistently on the move to various locations like client sites, offices, warehouses, etc. Public company auditors may even get a chance to travel the world for work purposes.

  1. Certified Public Accountant (CPA)

CPAs are now more in demand than ever. Over the last three decades, most students took up IT and marketing as a career, eroding a considerable gap in the accounting market. And with baby boomers retiring, this job is now open for potential candidates who dream to excel in their careers. CPAs need to clear a Uniform CPA Exam to earn this qualification. Later, they can find room in government and non-profit organizations as well as industry. CPAs make 15% more money if they’re able to earn a CPA license.

  1. Tax Examiners

Tax examiners usually work for the federal government. They’re responsible for reviewing federal, state, and local tax returns filed by individuals and business organizations. Tax examiners calculate and collect taxes on behalf of the government. All you need is an accounting degree and relevant experience in tax compliance or the auditing department, and you’re good to go.

  1. Cost Accountants

A person with insufficient accounting knowledge perceives an accountant to be someone who keeps the costs under control. That is the job of a cost accountant. Every business needs one to keep the organization up and running. Cost accountants keep track of all the expenses in the industry and make sure they don’t go out of hand. They analyze profits and create budgets. The entire business is somewhat relying on them. It’s what makes this job super-important and highly prestigious.

  1. Forensic Accountants

Forensic accountants are very similar to detectives. They investigate financial data to check for possible errors or fraudulent activity. They also assist law firms and courtrooms in scrutinizing white-collar crimes and other financial affairs like embezzlement, bankruptcy, etc. Their job is to ensure that every activity in any organization complies with financial laws and regulations. So if you’re Sherlock with a knack for numbers, this job is just for you.

  1. Staff Accountants

Staff accountants are the most general type of accountants. They look over basic money management tasks. Their responsibilities may include preparing and maintaining a general ledger, verifying financial data, reconciling accounts, consolidating internal and external financial statements, etc. Hence, every business (small or big) needs a staff accountant. It’s an excellent opportunity for fresh graduates to earn some experience before deciding which accounting field they want to end up in.

  1. Financial Advisors

Commonly, the term “financial advisor” makes us think about the time we retire. Well, financial advisors do a lot more than just that. At some point, every successful person has met with a great financial advisor to walk them through the best investment options. Financial advisors offer a road map to save and spend. They talk people into what they should be doing today to have a better tomorrow. They’ll help save for college or retirement through investment options like stocks, bonds, etc. Financial advisors are the best option for planning a safe financial future.

Final Thoughts

Accounting is one of the top 10 safest careers in the world. It’s also a nicely paid one. Thankfully, with the online accounting programs available today, you won’t even need to put in a significant amount of time, effort, and money to pursue a career in accounting. Unlike other career options like law or dentistry, which take up 6 to 8 years, most accounting programs only have a 150-hour requirement. Moreover, you get to choose from a few highly prestigious accounting jobs.
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