The Most Common Industries To Employ Accountants
September 4, 2013
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Did you know that accountants and auditors held about 1.2 million jobs in 2010?
That’s because they work in a variety of corporations and industries. Their work varies based on the needs of their clients and the role they play within their company.
So which industries were most common among accounting professionals? Here, we’ve ranked the top three industries based on data from the Bureau of Labor Statistics and provided some details about working in these environments. Read more to discover where your degree program could take you:
#3 – Corporate Management
Corporate management includes any companies or enterprises that hire accountants to work in their management branches.
Management accountants are responsible for recording and analyzing the financial information of the organizations they work for. This information is for internal use only and is not considered public knowledge. They typically report to business managers who can use the financial information to make important decisions regarding their profitability and budgeting.
Management accountants can also be responsible for budgeting. As a management accountant, you might be asked to help organizations plan the cost of doing business, work with financial managers to assess management or evaluate the company’s performance. These responsibilities can include working with financial investments such as stocks, bonds and real estate.
#2 – State and Local Government
Government accountants are responsible for maintaining the records of government agencies. They examine these records and decide which private businesses or individuals might need to be audited.
It is their responsibility to make sure that the necessary revenues are being received – and spent – in accordance with state and federal laws and regulations.
The BLS notes that this category does not include educational institutions or hospitals. These industries also employ accountants that work exclusively for school districts or hospital chains.
#1 – Accounting
This might seem pretty obvious to you, but the Accounting industry is the number one employer of accountants in the United States. The term refers to accountants who work in tax preparation, bookkeeping and payroll services.
These accountants are commonly referred to as public accountants. They are often employed by individuals or businesses to complete auditing, tax or other consulting tasks.
Often, public accountants are responsible for reviewing and managing financial documents that their clients have been required by law to disclose. Such documents include tax forms or balance sheet statements.
Public accountants can pursue certification to become CPAs. They are also more likely to be self-employed.
Starting an accounting degree program can be a great opportunity for becoming more familiar with these industries. Take courses that focus on the specific skillsets needed to work in these environments and see if there is an industry interests you.