Accounting and Finance Degree Program and Career Education

Individuals employed in the fields of accounting and finance assist businesses, organizations, and individuals make money, create and follow budgets, make sound investments, and plan for their financial future.

Individuals interested in a career in accounting and finance should have a natural inclination for mathematics, be detail-oriented, communicate clearly both verbally and in writing, and enjoy problem-solving. They should enjoy working with both computers and people.

Education, Training and Degrees in Accounting and Finance

While individuals with two-year degrees in accounting can find work as bookkeepers or in entry-level accountant jobs, the majority of employers in the accounting and finance fields require at least a bachelor's degree in accounting, finance, business, or a similar field. Some accounting firms prefer individuals with a master's degree or an MBA (Master of Business Administration) with a concentration in accounting.

In order to become a Certified Public Accountant (CPA), most states require that candidates possess a bachelor's degree. In addition to a four-year degree, CPAs must complete an additional 30 hours of coursework for a total of 150 hours of college coursework. Many schools offer master's degrees as part of the 150 hours. Once coursework is completed, candidates must take a two-day, four-part Uniform CPA Examination prepared by the American Institute of Certified Public Accountants (AICPA). In addition, most states require CPAs to complete a certain number of hours of ongoing education in order to renew their licenses.

Certified Management Accountants (CMAs) must complete a bachelor's degree or receive a score above a certain level on specific graduate school entrance exams. They must have worked for at least two years in management accounting, and they must pass a four-part exam. Like CPAs, they also must attend ongoing education classes.

Certified Internal Auditors (CIAs) must also receive a bachelor's degree, work for two years or more as an internal auditor, and pass a four-part exam.

In order to become a Certified Government Financial Manager (CGFM), candidates must have earned a bachelor's degree, completed 24 hours of study in financial management, worked for two years or more in government, and have passed a series of three exams.

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Explore Career Opportunities in Accounting and Finance

As businesses grow and merge, as organizations expand internationally, as financial laws change and the finances of companies are scrutinized more closely than ever, the need for accountants, auditors, and financial advisors will continue to grow into the foreseeable future. Corporations, businesses and organizations all require professionals to balance the books, prepare taxes, offer advice, and ensure compliance with all applicable laws. The U.S. Department of Labor Statistics anticipates that the field of accounting and auditing will grow faster than the average for all occupations through the next decade.

The fields of accounting and finance offer any number of career opportunities. Below are some of the most popular occupations in these fields. Below are more details concerning careers within this field.

Certified Public Accountant (CPA)/Accountant
Public accountants, many of whom are Certified Public Accountants (CPAs), generally own their own business or work for public accounting firms. Many public accountants focus on preparing business tax statements or individual income tax returns, advising clients about tax advantages and disadvantages. Others may specialize in external auditing, examining a company's financial statements and reporting on the accuracy of these statements.

Auditor
Internal auditors ensure that the financial records of a company or individual are accurate. They check for fraud and mismanagement, and they help to prevent financial loss. Internal auditors also evaluate the efficiency of company operations and the compliance with laws and regulations.

Management Accountant
Management accountants provide accounting services for the company for which they work. They analyze financial information, such as earnings and salaries, in order to help executives make key business decisions. Management accountants prepare financial reports, create budgets, and manage costs and assets.

Government Accountant
Government accountants follow special procedures and regulations while maintaining and analyzing the financial records of government agencies. They may create reports for government officials or audit the tax records of businesses or individuals.

Personal Financial Advisor
Personal financial advisors offer financial advice to clients on topics such as taxes, investments, insurance, and real estate. They help clients improve their financial outlook by analyzing assets, liabilities, financial goals, and tax status.

Financial Analyst
Financial analysts work for financial institutions, researching and analyzing the value and earnings potential of businesses and industries so that the financial institutions have the correct knowledge to make sound investment decisions. They study trends, competition, and products within a particular industry.

Risk Manager
Risk managers assess the potential financial risk of investments and business operations in order to minimize financial loss and maximize financial gain.


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