So you’re considering the ins and outs of being an accountant. You’ve seen them work, and you probably think their job looks awesome. However, if you’re concerned about how much does an accountant make, then look no further.
An accountant is a hard working individual, and their job consists of many different elements. In this article, we will look at a definition of an accountant, some of their job duties, and more importantly how much money they are making in 2018. Here is what you should know about their schooling and how much does an accountant make to help with your choice.
How Much Does an Accountant Make?
Now for the part, you’ve been waiting for. How much does an accountant make? Accountant’s salary tends to fluctuate some, but not much from the rough estimates taken in May of this year. According to various statistics, accountants in 2018 are making around an amount of $50,609. The range is usually between $46,069 and $55,725. In short, accountants make good money, and they work hard for their wage as well. The long hours pay off in the long-run, as you can see.
What Is an Accountant?
The formal definition of an accountant is simply a person that practices accountancy. Accounting being the measuring, disclosing, or providing of financial information in assurance to better serve tax authorities, investors, and managers, especially when making financial decisions. Accountants do quite a bit of mathematics as well.
In the United States, and I’m sure throughout the world, accountants are held to various standards for their evaluations and practices. They must adhere to these standards as they practice to stay on the right side of the law. Accountants also go to school for several years as well as take certification exams to practice accounting.
There are several different types of accountants that each require the passing of their tests. Chartered Accountants, Certified Public Accountants, and Chartered Certified Accountants are the three major types. Auditors are also accountants. Another interesting fact about accountants is that they can work in the commerce industry, or they can be employed by the public for their services.
How Long Do They Go to School?
Before you can determine how much does an accountant make, you need first to know what to expect during school. Accountants, like many other professionals, must go to school to complete their training and become certified. First, they must graduate from high school. Next, they must attend a university to complete a bachelor’s degree in their field of accounting. Third, they will take an entry-level job position somewhere to work as an intern or a simply staffer.
After working for several years, the accountant will then start on their master’s studies to gain the next level of education toward becoming a certified accountant. After graduating with the masters, the accountant will take the certification test of their choice to become the accountant in the field they most want to be in. Then the real question hits, how much does an accountant make?
What Do They Study in School?
While in school, the potential accountant will go through most normal, beginning coursework. They will take general studies classes to get started on their degree. After finishing these classes, the student will then begin their core work, which focuses on various areas.
Some of the required coursework for an undergraduate seeking a degree in accounting are things like economics, business, mathematics, and accounting courses. Mathematics classes can consist of general math like algebra, and they might also include statistics or business statistics according to the school’s degree plan.
Business classes combine many different elements like financial accounting, business law, financing, marketing, and another business type of coursework. The core classes are the most important for the degree, and they will be the central focus of the accounting. This work would include things like the tax code, managerial accounting, accounting research, and auditing.
What Are Their Job Duties?
Accountants have quite a few job duties that they must do throughout the year. It doesn’t matter which type of accounting you choose to study; they will eventually deal with these things at least once during their career. Some of the things you might see in the daily life of an accountant are organizing financial records, examining various statements for accuracy, computing the owed taxes, preparing all tax returns, and ensuring fast payments for taxes.
Accountants must also do things like making sure all statements comply with the regulations and laws of the federal government and state government, looking at the account books and systems to keep them up to date, making practice recommendations, providing auditing services for individuals and businesses, and improving the efficiency of businesses financially.
What Can One Expect as an Accountant?
Being in the field of accounting has quite a bit of up and downs. There are busy times, and then there are slow times. No two days are the same as an accountant. However, if you want to become an accountant, there are several things you need to expect about becoming an accountant.
Numbers are a large and necessary part of accounting work. You are going to be dealing with taxes and financial reports that all include, you guessed it, numbers. If you don’t like math or numbers, then accounting is not the career path for you. It is imperative that you understand how numbers work and how they relate to financial reports to be an accountant.
As an accountant, you better be ready to work hard. They have busy days, especially during tax season, when they work long hours to get everything done. Don’t let this sway you away, however. Being an accountant is rewarding as well since they tend to make quite a bit of money for their hard work and long hours during tax season. If you were wondering how much does an accountant make, then you should note that they work extremely hard for their earnings.
There are quite a bit of thing to consider when thinking of becoming an accountant. What and how many schools will you need? How much does an accountant make? How long will you have to work before you can become certified? The questions all seem to add up, but one thing is for sure. Accountants are incredible people who help businesses and individuals with their financial issues, and accounting is an upstanding career choice for anyone.
Jeanine Cloud Rigby
People say that being an accountant is fruitful once you’ve actually accomplished that CPA title. Then again before you even get to the top you’ll first face tons of struggles as mentioned in the article. I truly agree that if one wants to be an accountant one must better be ready to work hard. Thanks to the author for this insightful article.