Career to Count On: Accounting Is More Popular Than Ever
If the enrollment numbers are any indication of its widespread appeal, crunching numbers is cool. According to the American Institute of CPAs, more than 64,000 students graduated with bachelor's and master's degrees in accounting in the 2006-2007 school year, the largest number of accounting graduates in at least 36 years.
Rock-Solid Jobs
"Accounting is a very stable and well-anchored career path," says Denny Reigle, director of academic and career development of the AICPA, a national professional association of CPAs with more than 350,000 CPA members.
Jody Queen-Hubert, executive director of co-op and career services at Pace University, adds, "Businesses always need accountants; the demand is there. Understanding how an organization manages its finances is critical to understanding how the business operates, and students need to cut their teeth in the trenches of an organization."
Supply and Demand
"The issue is really this: Accounting firms need more accountants than ever directly related to regulation," says Karen A. Berger, associate dean and director of undergraduate programs at the Lubin School of Business at Pace.
In fact, the already stable profession increased in demand thanks to the passage of the Sarbanes Oxley Act, also known as Sox. This legislation was passed in 2002 in order to reduce and eliminate abuses in financial reports, accounting and transactions, and other activities that have damaged credibility in the field. For instance, CEOs and CFOs must sign statements confirming their review and judgments that the financial statements are accurate.
Recession-Proofing
Although strict regulatory requirements in effect for several years created an increased need for more accountants, the sizzle appeal right now may be attributed to the capricious financial industry.
Marjorie Platt, professor and head of the accounting department at the Northeastern University College of Business Administration, explains, "As Wall Street faces serious layoffs, quantitatively oriented students may decide to focus on accounting rather than finance. We've seen our number of majors continue to grow over that past year while the number of finance majors is flat or trending down a bit. Since the two subjects are highly related, it may not take a lot of extra effort or coursework to refocus one's major."
Rah-Rah Recruitment
Another factor contributing to the appeal of accounting, says Queen-Hubert, is a focus on recruiting students on campus. "Accounting firms recruit heavily from college campuses and have been trying to jazz up their image. They have worked hard at trying to attract younger students with sophomore summer leadership programs, internships for juniors, and job offers before students hit their senior year. The image of a boring bean-counter is no longer what firms are projecting."
As students meet recruiters on campus and learn more about opportunities, they may also learn about the variety of paths to pursue. Reigle notes that once you earn your accounting degree, the sky's the limit. "Within the accounting discipline, there are an increasing number of specialties such as personal financial planning and risk assessment."
Accounting for an Adrenalin Rush
Tracy Coenen, forensic accountant and author of "Essentials of Corporate Fraud," knows about one such specialty, "Fraud investigation sounds sexy, especially to the younger generation. It's a bit of a twist on traditional accounting roles, which are often seen as boring. The idea of chasing down the bad guys sounds much more interesting than adding up a column of numbers."
Forensic accountants typically put together a puzzle by piecing together a situation, reconstructing financial records, and following a trail of evidence. "Who knew I'd get an adrenaline rush from doing accounting work?" Coenen steps into a client's business to get a quick education as to how things work there and the suspicions of fraud. Next, she gathers data to help prove or disprove fraud, which is contrasted to the role of a traditional accountant who closes the books each month and reconciles accounts.
Many curriculums like Pace University include a forensic accounting class. Their forensic accounting course is a core requirement as part of the internal audit minor.
Full Speed Ahead
As enrollment reached at an all-time high over the past three decades, it seems the popularity of the accounting profession has no intentions of slowing down among students.
Queen-Hubert attributes this to the financial crisis. "In today's world and with the high price tag of a college degree, parents and students are looking for careers that offer long-term prospects and skills that can be portable amongst industries." And right now, accounting seems to add up.
Programs and Courses for Careers in Accounting and Payroll Administration
| For those that are good with numbers and are looking for a highly lucrative career, Accounting and Payroll Administration might be the right path for you. Accountants and Payroll Administrators hold highly responsible positions in the companies they work for and need a variety of specialized skills, including auditing, payroll, bookkeeping, accounting, tax compliance knowledge, etc. The accounting programs available today range from full Master's degrees to Associates degrees, to certificate programs. In 2005, accountants were the most in-demand of all college graduates, with beginning Accountants with a Bachelor's Degree in Accounting earning an average of $44,000 annually, and experience Accountants for large corporations earning about $75,000-80,000. In addition to a career as a certified Accountant, there are a variety of options for those interested in working in the financial field without a Bachelor's Degree, and there are programs and courses available for each. One of the more popular training programs available is the Accounting and Payroll Administrator Program. Accounting and Payroll Administration Unfortunately, in order to work as a certified Accountant, one must at least have completed a Bachelor's Degree in Accounting. Still, there are many opportunities in the lucrative accounting and payroll administration field for those who are willing to take a few short courses. These job opportunities include but are not limited to: - Payroll Administrator or Manger - Payroll Coordinator - Payroll Clerk or Assistant - Accounting Analyst - Bookkeeper - Administrative Assistant - Accounts Payable/Receivable Clerk - Credit Officer - Leasing Consultant - Benefits Coordinator - Collections Officer Many of these highly responsible positions are quite lucrative, and provide a good basis for career advancement. The best way to obtain this type of accounting or payroll administration position is to sign up for a career training program. Career Training Programs There are a variety of Accounting career training programs available, both on the web and in a classroom setting. Most Accounting and Payroll Administration courses take anywhere from 8-12 months, and will teach you all you need to know to begin your accounting career. This includes basic training in payroll and tax compliance theory, overviews of accounting-related computer programs and an idea of debits and credits. In addition to basic theories, Accounting and Payroll Administration programs are specially designed to give you the specialized skills for an accounting career, as well. Many even include an internship or practicum intended to give you the final skills you will need to be a success in your chosen career. Others specifically offer a Payroll Management Certification program, which is an attractive bonus for potential employers. |
| Author Resource:- triOS College offers Accounting & Payroll Administrator diploma programs - located in Toronto, Ontario. www.trios.com |
| Article From New Ezine Articles |
Interested In An Accounting Career
An accounting career could be just the thing to bring you satisfaction and a sense of accomplishment. Along with medical and health related careers, accounting professionals are among the group of professions that are projected to see a lot of growth over the next few years.
Graduates of four year accountancy programs are earning 3.7% more in terms of starting pay straight out of college. Masters degree holders are seeing a 4% increase in starting pay over the last couple of years.
There are many top notch two year accounting degree programs as well. Your choice really depends on many factors, including career objectives, the amount of money that you have to invest in an education or your ability to attain student loans, as well as what your schedule is like.
If you want to educate yourself on accounting in order to better manage your own small business or non-profit organization, chances are youd do best with some classes from the local community college or other type of learning center.
In many larger cities and some towns, there are learning centers that offer a wide variety of classes, from cooking and home improvement to accounting. Ask around at your local public library or community college to find out about all the learning opportunities that your community has to offer.
For more serious study to put toward managing the finances of your business or organization, you may find that a community college has just the combination of classes that youre looking for.
If you want to pursue an accounting career further, a community college is still one of the best places to start. If you have children or must work while attending school, community colleges are going to offer you the most flexibility in terms of scheduling.
For more information on the projected outlook for those in accounting careers, take a look at the governments Occupational Outlook Handbook found at the U.S. department of labor website. There is a great wealth of information here that can help you decide how satisfying various degrees and professions are likely to be over the coming years.
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