Accountants are responsible for monitoring and analyzing financial accounts of companies and governments.
There are many different career paths available for graduates who had an accounting major in college. Accounting jobs are available in the private and public sectors and from nonprofit agencies. Governments and organizations rely heavily on accountants to monitor their finances and make sure everything is running smoothly.
Public Accounting
Public accountants perform a wide range of tax, auditing and counseling services for clients like governments, individuals, nonprofit organizations and companies. Many public accountants obtain certification as a certified public accountant and either work for an accounting firm or run their own business. CPAs often audit financial statements externally for governments and organizations. This helps authorities prevent funds from being siphoned off illegally. Certified public accountants earn on average between $48,321 and $73,122 a year, according to PayScale.com.
Management Accountants
Management accountants help the company they work for record and analyze their financial information. Some of the common responsibilities of management accountants include creating and managing budgets, cost management, performance evaluation and asset management. Management accountants typically work with a team of executives and help strategically plan the development and launch of new products. These accountants also present financial analysis reports to company executives to help them make business decisions. Management accountants are also responsible for presenting reports to stockholders, regulatory agencies, creditors and the Internal Revenue Service. Management accountants earn on average between $55,986 and $85,086 a year, according to PayScale.com.
Internal Auditors
Internal auditors are responsible for monitoring their company's finances and making sure there is no financial fraud, mismanagement or waste. In addition, internal auditors make sure their company is acting in compliance with government regulations and corporate policies. In today's computerized world, internal auditors have started monitoring real-time data to analyze the effectiveness of financial transactions. If internal auditors find a problem with a financial computer system, they will make recommendations to the company they work for regarding how the system can be made safer or more efficient. Internal auditors earn on average between $40,464 and $59,507 a year, according to PayScale.com.
Government Accountants
Government accountants work for government organizations like the IRS and audit private businesses that fall under government regulation and taxation. Government accountants are also responsible for analyzing the budget of local, state and federal governments. Government accountants earn on average between $51,250 and $53,660 a year, according to the Bureau of Labor Statistics.
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