Accounting: The Three Main Types Of Accounting

“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. Finally are tax accountants, who focus on studying the tax code

The first major thing of note is the pay which averages out to 63,550 dollars per year or a $30.55 per hour rate (BLS 1). This tells me that even an average accountant can make a strong living that could more than likely support a full family. Next, is the employment turnover which is around 166,700 or 13% of the job field (BLS 1). This tells me that accounting a stable job but there is always a need for new accountant to replace those who are either fired or go to a different company. Also it is shown that the accounting profession is a field dominated by white males (AICPA 38). This is due to the cultural perception that men handle math and business better than girls, and are more likely to get involved in a field that consists entirely of math and business. Finally, there is the entry level education which is a bachelor’s degree (BLS 2). This means that an accountant must at least have a bachelor’s degree to work in the accounting field, but having a Master’s degree in necessary for the CPA exam and is preferable to a Bachelors. After having a proper education, the accounting profession becomes an easy and profitable field to get

The first were the traits required to become a great accountant. Acito believes that “The most important trait to being a good accountant is passion” (Acito). This is something that may seem like a no brainer but accountants are generally not considered to be passionate people, but without a passion for accounting the road could be quite rocky for the dispassionate. The necessity for passion in accounting, or any job, is due to the amount of time of energy invested in to the career and without passion it creates not only personal depression but will also effect focus and efficiency while working. The next thing according to Acito is being detailed oriented (Acito). This one is truly a necessity for accountants because any error no matter how small can create problems down the line. This is supported by job listings that list “detailed oriented” as one of the job requirements (CPA job finder 2). The final important quality is work ethic (Acito). This is due to the amount that accountants work and also that through hard work it is possible to rise up through the ranks of an accounting firm. It is through the traits of passion, detail control and work ethic, that an accountant can become