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What do you have to do to be an accountant?
im a high school student looking for answers #high-school-students
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John’s Answer
There are many area's for accountants so a lot of info below.
Accountants and auditors prepare and examine financial records, identify potential areas of opportunity and risk, and provide solutions for businesses and individuals. They ensure that financial records are accurate, that financial and data risks are evaluated, and that taxes are paid properly. They also assess financial operations and work to help ensure that organizations run efficiently.
Duties
Accountants and auditors typically do the following:
Examine financial statements to ensure that they are accurate and comply with laws and regulations
Compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time
Inspect account books and accounting systems for efficiency and use of accepted accounting procedures and identify potential risks for fraud
Organize, analyze, and maintain financial records
Assess financial operations, identify risks and challenges, and make best-practices recommendations to management
Suggest ways to reduce costs, enhance revenues, and improve profits
Accountants and auditors may use technology, such as artificial intelligence (AI) and robotics process automation, to increase their productivity. Automating some routine tasks makes these workers more efficient by allowing them to focus on analysis and other high-level responsibilities.
In addition to examining and preparing financial documents, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.
Many accountants and auditors specialize, depending on their employer. Some work for organizations that specialize in assurance services (improving the quality or context of information for decision makers) or risk management (determining the probability of a misstatement on financial documents). Other organizations specialize in specific industries, such as finance, insurance, or healthcare.
The following are examples of types of accountants and auditors:
Government accountants maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation. Accountants employed by federal, state, and local governments ensure that revenues are received and spent according to laws and regulations. Their responsibilities include auditing, financial reporting, and management accounting.
Management accountants are also called cost, corporate, industrial, managerial, or private accountants. They combine accounting and financial information to guide business decision making. They also understand financial and nonfinancial data and how to integrate information. The information that management accountants prepare is intended for internal use by business managers, not for the public.
Management accountants often prepare budgets and evaluate performance. They also may help organizations plan the cost of doing business. Some work with financial managers on asset management, which involves planning and selecting financial investments such as stocks, bonds, and real estate.
Public accountants have a broad range of accounting, auditing, tax, and consulting tasks. Their clients include corporations, governments, individuals, and nonprofits.
Public accountants work with financial documents that clients are required by law to disclose, such as tax forms and financial statements that corporations must provide to current and potential investors. Some public accountants concentrate on tax matters, advising corporations about the tax advantages of certain business decisions or preparing individual income tax returns.
Other public accountants specialize in forensic accounting, investigating financial crimes such as securities fraud and embezzlement, bankruptcies and contract disputes, and other complex and potentially criminal financial transactions. Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques to determine if an activity is illegal. Many forensic accountants work closely with law enforcement personnel and lawyers during investigations and often appear as expert witnesses during trials.
Still others work with individuals, advising them on important personal financial matters. These public accountants combine their expertise in data management, economics, financial planning, and tax law to develop strategies for their clients. Advisory services cover topics including cash flow, insurance, investment, retirement, and wealth transfer planning to help clients meet financial goals, such as retirement, paying for a child’s education, or buying a home.
Public accountants, many of whom are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms. Publicly traded companies are required to have CPAs sign documents they submit to the Securities and Exchange Commission (SEC), including annual and quarterly reports.
How to Become an Accountant
Most accountants and auditors need at least a bachelor’s degree in accounting or a related field.
Accountants and auditors typically need at least a bachelor’s degree in accounting or a related field to enter the occupation. Completing certification in a specific field of accounting, such as becoming a licensed Certified Public Accountant (CPA), may improve job prospects.
Education
Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.
Some universities and colleges offer specialized programs for a bachelor’s or master’s degree, such as in accounting, forensic accounting, internal auditing, or tax accounting. In some cases, those with an associate’s degree, as well as bookkeepers, accounting, and auditing clerks who meet the education and experience requirements set by their employers, may get junior accounting positions and advance by showing their accounting skills on the job.
Students may gain practical experience through internships with public accounting or business firms.
Licenses, Certifications, and Registrations
Any accountant who files a report with the Securities and Exchange Commission (SEC) is required to be a licensed Certified Public Accountant (CPA). Other accountants choose to become a CPA to enhance their job prospects or to gain clients. Employers may pay the costs associated with the CPA exam.
CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. All states require CPA candidates to complete 150 semester hours of college coursework to be licensed, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.
A few states allow a number of years of public accounting experience to substitute for a college degree.
All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that candidates pass all four parts within 18 months of passing their first part.
All states require CPAs to take continuing education courses, including ethics, to maintain their license.
Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:
The AICPA offers several designations. For accountants with a CPA, the AICPA offers the Accredited in Business Valuation (ABV), Certified Financial Forensics (CFF), Certified Information Technology Professional (CITP), and Personal Financial Specialist (PFS) certifications. All of these credentials require experience in the related area, continuing education, and passing an exam.
AICPA and the Chartered Institute of Management Accountants (CIMA) developed the Chartered Global Management Accountant (CGMA) designation as an internationally recognized professional credential. Candidates must complete a program, pass an exam, and meet a requirement for work experience.
The Association of Government Accountants (AGA) offers the Certified Government Financial Manager (CGFM) credential to accountants or auditors working with federal, state, or local government. To earn this certification, candidates must have a bachelor’s degree from an accredited college or university, pass examinations, and have professional-level experience in government financial management. To keep the certification, CGFMs must complete continuing professional education.
The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) credential to graduates from accredited colleges and universities who have work experience as internal auditors and have passed an exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.
The Institute of Management Accountants (IMA) offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have work experience in management accounting, pass an exam, agree to meet continuing education requirements, and comply with standards of professional conduct.
ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have work experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours may be substituted for some of the experience required in information systems auditing, control, or security.
Advancement
Some top executives and financial managers have a background in accounting, internal auditing, or finance.
Entry-level public accountants may advance to senior positions as they gain experience and take on more responsibility. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.
Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to become accounting managers, budget directors, chief cost accountants, or managers of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.
Public accountants, management accountants, and internal auditors may move from one type of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.
Important Qualities
Analytical and critical-thinking skills. Accountants and auditors must be able to critically evaluate data, identify issues in documentation, and suggest solutions. For example, internal auditors might detect fraudulent use of funds, and public accountants may work to minimize tax liability.
Communication skills. Accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders. They must also be able to discuss the results of their work both in meetings and in written reports.
Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documents.
Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures. They may use advanced math skills, such as calculus and statistical analysis, for these tasks.
Organizational skills. Strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients.
Accountants and auditors prepare and examine financial records, identify potential areas of opportunity and risk, and provide solutions for businesses and individuals. They ensure that financial records are accurate, that financial and data risks are evaluated, and that taxes are paid properly. They also assess financial operations and work to help ensure that organizations run efficiently.
Duties
Accountants and auditors typically do the following:
Examine financial statements to ensure that they are accurate and comply with laws and regulations
Compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time
Inspect account books and accounting systems for efficiency and use of accepted accounting procedures and identify potential risks for fraud
Organize, analyze, and maintain financial records
Assess financial operations, identify risks and challenges, and make best-practices recommendations to management
Suggest ways to reduce costs, enhance revenues, and improve profits
Accountants and auditors may use technology, such as artificial intelligence (AI) and robotics process automation, to increase their productivity. Automating some routine tasks makes these workers more efficient by allowing them to focus on analysis and other high-level responsibilities.
In addition to examining and preparing financial documents, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.
Many accountants and auditors specialize, depending on their employer. Some work for organizations that specialize in assurance services (improving the quality or context of information for decision makers) or risk management (determining the probability of a misstatement on financial documents). Other organizations specialize in specific industries, such as finance, insurance, or healthcare.
The following are examples of types of accountants and auditors:
Government accountants maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation. Accountants employed by federal, state, and local governments ensure that revenues are received and spent according to laws and regulations. Their responsibilities include auditing, financial reporting, and management accounting.
Management accountants are also called cost, corporate, industrial, managerial, or private accountants. They combine accounting and financial information to guide business decision making. They also understand financial and nonfinancial data and how to integrate information. The information that management accountants prepare is intended for internal use by business managers, not for the public.
Management accountants often prepare budgets and evaluate performance. They also may help organizations plan the cost of doing business. Some work with financial managers on asset management, which involves planning and selecting financial investments such as stocks, bonds, and real estate.
Public accountants have a broad range of accounting, auditing, tax, and consulting tasks. Their clients include corporations, governments, individuals, and nonprofits.
Public accountants work with financial documents that clients are required by law to disclose, such as tax forms and financial statements that corporations must provide to current and potential investors. Some public accountants concentrate on tax matters, advising corporations about the tax advantages of certain business decisions or preparing individual income tax returns.
Other public accountants specialize in forensic accounting, investigating financial crimes such as securities fraud and embezzlement, bankruptcies and contract disputes, and other complex and potentially criminal financial transactions. Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques to determine if an activity is illegal. Many forensic accountants work closely with law enforcement personnel and lawyers during investigations and often appear as expert witnesses during trials.
Still others work with individuals, advising them on important personal financial matters. These public accountants combine their expertise in data management, economics, financial planning, and tax law to develop strategies for their clients. Advisory services cover topics including cash flow, insurance, investment, retirement, and wealth transfer planning to help clients meet financial goals, such as retirement, paying for a child’s education, or buying a home.
Public accountants, many of whom are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms. Publicly traded companies are required to have CPAs sign documents they submit to the Securities and Exchange Commission (SEC), including annual and quarterly reports.
How to Become an Accountant
Most accountants and auditors need at least a bachelor’s degree in accounting or a related field.
Accountants and auditors typically need at least a bachelor’s degree in accounting or a related field to enter the occupation. Completing certification in a specific field of accounting, such as becoming a licensed Certified Public Accountant (CPA), may improve job prospects.
Education
Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.
Some universities and colleges offer specialized programs for a bachelor’s or master’s degree, such as in accounting, forensic accounting, internal auditing, or tax accounting. In some cases, those with an associate’s degree, as well as bookkeepers, accounting, and auditing clerks who meet the education and experience requirements set by their employers, may get junior accounting positions and advance by showing their accounting skills on the job.
Students may gain practical experience through internships with public accounting or business firms.
Licenses, Certifications, and Registrations
Any accountant who files a report with the Securities and Exchange Commission (SEC) is required to be a licensed Certified Public Accountant (CPA). Other accountants choose to become a CPA to enhance their job prospects or to gain clients. Employers may pay the costs associated with the CPA exam.
CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. All states require CPA candidates to complete 150 semester hours of college coursework to be licensed, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.
A few states allow a number of years of public accounting experience to substitute for a college degree.
All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that candidates pass all four parts within 18 months of passing their first part.
All states require CPAs to take continuing education courses, including ethics, to maintain their license.
Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:
The AICPA offers several designations. For accountants with a CPA, the AICPA offers the Accredited in Business Valuation (ABV), Certified Financial Forensics (CFF), Certified Information Technology Professional (CITP), and Personal Financial Specialist (PFS) certifications. All of these credentials require experience in the related area, continuing education, and passing an exam.
AICPA and the Chartered Institute of Management Accountants (CIMA) developed the Chartered Global Management Accountant (CGMA) designation as an internationally recognized professional credential. Candidates must complete a program, pass an exam, and meet a requirement for work experience.
The Association of Government Accountants (AGA) offers the Certified Government Financial Manager (CGFM) credential to accountants or auditors working with federal, state, or local government. To earn this certification, candidates must have a bachelor’s degree from an accredited college or university, pass examinations, and have professional-level experience in government financial management. To keep the certification, CGFMs must complete continuing professional education.
The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) credential to graduates from accredited colleges and universities who have work experience as internal auditors and have passed an exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.
The Institute of Management Accountants (IMA) offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have work experience in management accounting, pass an exam, agree to meet continuing education requirements, and comply with standards of professional conduct.
ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have work experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours may be substituted for some of the experience required in information systems auditing, control, or security.
Advancement
Some top executives and financial managers have a background in accounting, internal auditing, or finance.
Entry-level public accountants may advance to senior positions as they gain experience and take on more responsibility. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.
Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to become accounting managers, budget directors, chief cost accountants, or managers of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.
Public accountants, management accountants, and internal auditors may move from one type of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.
Important Qualities
Analytical and critical-thinking skills. Accountants and auditors must be able to critically evaluate data, identify issues in documentation, and suggest solutions. For example, internal auditors might detect fraudulent use of funds, and public accountants may work to minimize tax liability.
Communication skills. Accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders. They must also be able to discuss the results of their work both in meetings and in written reports.
Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documents.
Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures. They may use advanced math skills, such as calculus and statistical analysis, for these tasks.
Organizational skills. Strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients.
Updated
Kody’s Answer
Two of my best friends became accountants. They both went to college for five years because you have to take a larger amount of credit hours than a four year degree. It was in their third year where they had a paid internship for one of their courses which was really nice. They were making about $22/hour as an accounting student. And then, after graduating, you can start working or study for the accounting boards. You must pass all of the exams within a year of each other to become an official accountant. From there, you can choose where to work!
Updated
Blake’s Answer
If you love accounting then the steps are fairly simple. Get in to a college that fits what you are looking for in the sense of spending time there. And take your courses to steer you in the right direction for an accounting degree. In a lot of cases, after your freshman year you can apply for your schools accounting section and they set up your classes for you. Grind out your first year with top of the line grades and you'll be able to be accepted in to most accounting programs after that.
Updated
Christina’s Answer
Hi Izaiah! That is great that you have an interest in accounting in high school. When looking at colleges, I would look to see what business and accounting classes the university offers. Accounting involves understanding how a business operates and then being able to translate a company's business activities into useable financial data. In looking for schools, I would certainly look at the overall business program that you would join. Also, there are many opportunities for people who study accounting and the best way to find out what you like is by trying it out! While you are studying at college, gaining internship experience is very important. Many accounting firms offer internships and ways to gain experience starting as early as your sophomore year in college. The next step would be considering getting a CPA license. This carries a lot of weight and is especially useful if you chose to pursue a public accounting role. You have plenty of time to decide, but keep your options open, try new things and learn as much as you can!