Requirements and Education
There is not one set path to become a forensic accountant. There are however, two main certifications most forensic accountants hold; the CFE and the CPA. Having one or both of these certifications is the best way to find work in forensic accounting.
Many forensic accountants are Certified Public Accountants. It is the most well-known accounting credential and having those three letters after one’s name tells the world you know what you’re doing. It is not a requirement, but it is common for most in financial forensics to be CPA’s. One needs a bachelor’s degree, though not necessarily in accounting, to be eligible for the CPA exam. 24 undergraduate hours or 15 graduate hours of accounting classes are needed along with two years of work-related experience and 150 total college credit hours (What is the Uniform CPA Examination? 2016). The exam is broken down into four sections; auditing, business environment and concepts, financial reporting, and regulation, and they can be taken separately or all at once. An individual must all four sections within 18 months, or they risk having to repeat the process (What is the Uniform CPA Examination? 2016). Additionally, pass rates for each section are around 50 percent, so there is no guarantee of success.
The Certified Fraud Examiner is the credential to have for those looking to specialize in forensics. To sit for the exam, one needs a bachelor’s degree and two years work experience in auditing, psychology, or law, or they could have a graduate degree with no related work experience. Like the CPA exam, the CFE is comprised of four sections; fraud prevention and deterrence, financial transactions and fraud schemes, invest...
... middle of paper ...
...Exchange Commission, though not listing forensic specifically, pays their accountants an average of $190,000 per year (Pay Rates for Accountants, 2016). The FBI, whose accountants are generally forensic, pays an average of $95,000 per year, and even those from the hated IRS can take solace in their average salary of $103,000 a year (Pay Rates for Accountants, 2016).
The benefits of job are not solely financial. A forensic accountant, especially one working in law enforcement, can wake up every day excited about work. Budgets and taxes are important, but the prospect of investigating financial crimes and helping to put the perpetrators behind bars gives one an enormous sense of purpose. If one enjoys their job and feels it has meaning, they are more likely to excel and be productive. This increases the chance of promotion and could result in a higher wage.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- One of the most important jobs is an accountant. They very important because taxes are very complex and they are changing every year. They work on businesses records of assets and liabilities. There are many things to consider before becoming an accountant. They need a good education have a good math background. The nature of the work for an accountant is to maintain records of the assets and debts for a business or an individual and keep records of all financial transactions. They use this information to project the financial future of the business (“Wiscareers”).... [tags: accounting]
1104 words (3.2 pages)
- I have taken a lot of time this semester to think about and focus on a career path. After much consideration, I am now planning a path to become a licensed accountant. Certified Public Accountants oversee financial operations and examine and make sure financial records are correct. Many people call accounting the “language of business”, because many of the decisions made by companies are not made without looking at an accountant’s report. This job is appealing to me because it is a job that has a routine, I would get to work with numbers, and it is a respectable job that not everyone can do.... [tags: Certified Public Accountant, Accountant]
1267 words (3.6 pages)
- Introduction In this paper you will read about the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. The presentation includes discussion regarding the relationship between the skill and its application to business operations. The paper describes the role of a forensic accountant within a courtroom environment, the legal responsibility a forensic accountant has while providing service to a business and finally, The paper also presents two (2) cases where forensics accountants have provided vital evidence in a case and summaries of the two cases and the importance of the forensic accountants’role during each case.... [tags: Critical Thinking, Problem Solving]
1593 words (4.6 pages)
- Both computer forensic or forensic science and Biometrics sometimes may apply same identification methods; however, they do so for different purposes. Computer forensics or forensics science is based on history and a forensic investigator does not just pick a method in advance. In other words, forensics investigators are unaware of what they will find as evidence. In addition, the manner in which forensics tools and evidence are handled may have critical implications, which can make or break a case.... [tags: Forensic science, Computer forensics]
768 words (2.2 pages)
- Employment Outlook The employment outlook for accountants and auditors is expected “to grow 11 percent from 2014 to 2024, faster than the average for all occupations.” (Bureau of Labor Statistics, U.S. Department of Labor, 2105). This is a good indicator that the economy is growing and businesses are looking at future growth and preparing for it. As long as the economy is having a strong and healthy growth companies will need the workforce to keep up with the growth and accountants to inspect and prepare the financial statements.... [tags: Certified Public Accountant, Accountant]
1034 words (3 pages)
- “Behind every good business is a great accountant.” Considered by many to be language of business, accounting in all reality is a vague term. They are many types of accounting each with its own certifications and requirements. They are three main types of accountants first is the public accountant or CPA. This is a person who works for a public accounting firm, whose job is to go and evaluate the status of a company through auditing financial statements. Next, is a cooperate accountant. In cooperate accounting an accountant works inside a major cooperation, for example Ford or Chevy, and evaluates the status of the company through creation and analysis of the financial statements.... [tags: Accountant, Certified Public Accountant]
1932 words (5.5 pages)
- At a glance, accounting might appear as a repetitive cycle of preparing and examining financial statements. However, a brief exposure to accounting has taught me how chaotic it can be for accountants. An accountant captures and represents the information of businesses. By reviewing financial operations, an accountant helps a business run efficiently. This profession can be intellectually stimulating and rewarding. After learning about accounting, I cannot help but be interested and desire to work toward a degree in accountancy.... [tags: Accountant, Certified Public Accountant]
736 words (2.1 pages)
- BUSINESS PLAN FOR A MOBILE FORENSIC LABORATORY SERVICE This paper is written to identify a current scientific need in the field of forensic science and hence develop a product or service relevant to my degree course in forensic science. In line with a growing and changing market in the field of forensic science, it will present a business proposal for a mobile forensic laboratory service, designed to meet the demand for quick, on the spot and readily available forensic investigation; testing analysis and interpretation of evidence from crime scenes and or matters needing forensic investigations.... [tags: Forensic science, Police, Forensics, Crime]
2757 words (7.9 pages)
- Accountants work in a high stress environment where it is vital to remain detailed, honest, and most importantly organized. Accountants must thrive and be responsible as they play role in their client’s financial future. At a younger age, I developed a quality known as organization; I can now say it is a successful element in my field. An accountant should be a very organized person who is also comfortable working in structured environments. This quality makes me unique because organization sets patterns and routines; it reflects how I portray myself and what kind of work I am capable of doing for myself and for my future employer.... [tags: Management, High school, Accountant, Subroutine]
706 words (2 pages)
- Steps 5: Promotion Opportunities Senior Accountant: Becoming a senior accountant is a promising step in the promotional ladder. Senior accountants have more responsibilities than staff or junior level accountants. Senior accountants are responsible for preparing financial documents, assisting with monthly reconciliations, and assisting with audits. Accounting Supervisors: The next level up from senior accountants are the accounting supervisors. Accounting supervisors are in charge of the staff and senior accountants.... [tags: Certified Public Accountant, Accountant, Finance]
912 words (2.6 pages)