Accountants handle bookkeeping and maintain financial records. If you’re organized and enjoy working with numbers, a career in accounting could be a good fit. Find out how to get started.
Accountants are professionals who manage financial records for businesses and individuals. If you enjoy working with numbers and have an eye for detail, this may be the field for you. Explore what they do and how you can set yourself up for success in the field.
Accountants have numerous duties and can choose many specialties, but all of them have one thing in common: money. Whether you work for private individuals, big corporations, small businesses, government agencies, or nonprofits, you’ll manage finances and offer advice on how to make the best decisions regarding money. You’ll keep records and make sure they’re accurate and up-to-date.
Depending on your specialty or the needs of a client, your other duties may include:
Examining financial statements for accuracy
Preparing, filing, and paying taxes
Ensuring compliance with all financial laws
Analyzing trends and financial data
Making budget recommendations
Advising on ways to cut costs and raise profits
Keeping records and books organized and up-to-date
Providing auditing services or working together with an auditor
Identifying risks and recommending solutions
If this sounds like the field for you, these steps can help you prepare to find a job and advance through your career.
You’ll spend your days analyzing, calculating, presenting, and proofreading numbers, so above everything else, you should enjoy it. You don't have to be a math expert. As long as you can do the basics—adding, subtracting, multiplying, and dividing—you can typically do the job.
Along with basic number skills, applying certain workplace skills to your job can help you succeed as an accountant. You'll also need to be:
Business savvy
An analytical thinker
Organized
A good verbal and written communicator
A problem solver
Literate in general computer skills and accounting software
In addition, being detail oriented is also important, as one small mistake can have a big impact. A strong sense of ethics is key as well. When you have access to financial information, confidentiality is a must, as is your willingness to do what’s best for your client while following all laws and regulations.
If you're in high school and you already know you want to go into this field, take courses in math, computer science, economics, statistics, and business. If you're not currently in school, consider taking online courses that can help you prepare for your career and future education. Explore whether accounting is right for you with a course like Fundamentals of Accounting Specialization from the University of Illinois at Urbana-Champaign.
Many entry-level positions require a candidate to have a bachelor's degree. Aim for a degree in accounting or a related field, where you'll study topics like basic financial accounting, business law, statistics, economics, auditing, managerial accounting, accounting entities, and income tax accounting. Additionally, a degree is required to become a chartered professional accountant (CPA).
Once you graduate with your bachelor's degree—and maybe even before—it's time to gain some experience. You can do this through an internship or with an entry-level position. Not only will it look great on your resume and can help you land a better job in the future, but it will typically help you understand the field better and maybe even lead you to a specialty.
Some entry-level jobs in accounting include:
Bookkeeper
Accounts payable clerk
Payroll administrator
Accounts receivable clerk
Accountants can focus on many different areas within the field. While you're gaining experience, think about what you might want your specialty to be. You can choose from quite a few areas:
Finance accounting
Auditing and assurance
Nonprofit accounting
Forensic accounting
International accounting
Management accounting
Tax accounting
Explore specializations from some of the world’s top universities through courses like Forensic Accounting and Fraud Examination, Auditing I: Conceptual Foundations of Auditing, Managerial Accounting Fundamentals, or Accounting Data Analytics Specialization.
While a master's degree is not necessary, it can help you develop the skills you need for a specialty and the hours you need to become a CPA. You can also consider earning your master's degree online.
Learn more about what it’s like to earn your Master’s of Accounting online through the University of Illinois. You can sample a course from the program (such as Financial Reporting) before you apply.
Many large businesses and organizations require a CPA to handle financial responsibilities. As a CPA, you’ll demonstrate your skills with accounting software and as a bookkeeper. You’ll typically make more money and enhance your job prospects or pool of potential clients. Requirements to become a CPA include a bachelor's degree, passing the Uniform Evaluation (UFE), and two years or 30 months of on-the-job training.
While a CPA is a more generalized certification, you can also earn more specialized certifications so that you can work as an expert in a specific field. Some examples include:
Certified Fraud Examiner (CFE)
Certified Management Accountant (CMA)
Certified in Financial Forensics (CFF)
Certified Information Technology Professional (CIPS)
Certified Health & Safety Management Systems Auditor (CHSMSA)
When you're ready to apply for a job, you may want to start online. Job boards across the internet have thousands of openings for various types of organizations. This will help you get an idea of what's available and where you might want to work.
You can also find out if anyone within your network—former classmates, professors, coworkers, and so on—can make any recommendations. Once you have a little experience, you may even consider starting your own firm and becoming your own boss.
You can choose to be one of several types of accountants. Some of the most common are:
Types of accountants | What they do | |||||
---|---|---|---|---|---|---|
Public accountant | • Works for an accounting firm or has their own practice • Variety of duties may include taxes, financial planning, auditing, and consulting | |||||
Auditor-chartered accountant (CA) | • Hired by Parliament and by organizations to make sure financial records are precise and accurate • May work internally or externally | |||||
Forensic accountant | • Reviews records and looks for fraud and other wrongdoing • May be called into court as an expert witness from time to time | |||||
Tax accountant | • Expert in tax laws • Prepares tax returns, makes tax payments, helps individuals and organizations minimize their tax burden | |||||
Cost accountant | • Analyzes an organization's expenses to see where its money is going • May offer the organization advice on how to create a more effective budget | |||||
Accounts manager | • Specializes in stocks, bonds, exchange-traded funds (ETFs), precious metals, and other investments • Typically hired by brokerage firms and asset management firms | |||||
Tax accountant | • May work for the Canadian government • Ensures taxpayer money is wisely spent and that agencies are meeting financial goals | |||||
Staff accountant | • General accountant who works in almost every field • Handles basic accounting needs | |||||
Project accountant | • Typically works with a project manager on a case-by-case basis to oversee the financial aspects of a particular project • Examples include launching a new marketing campaign, manufacturing a new project, or constructing a new building | |||||
Management accountant | • Helps organization leaders make sound financial decisions • Duties may include budgeting, planning, risk assessment, and financial reporting | |||||
Consultant | • Has the highest expertise in a particular subject matter • May be hired by an organization to offer advice or prepare reports and documents |
Although all accountants work with money, you can choose from several different areas to focus on in your career. Start building job-ready skills for a role in accounting with the Intuit Academy Bookkeeping Professional Certificate. Practice interpreting and analyzing financial statements as you work through the phases of the accounting cycle. Upon completion, you'll have a credential from a top industry leader for your resume.
As of September 2024, the median pay for accountants in Canada is $63,729 CAD, according to Indeed [1]. The province where you work, the type of work you do, and your level of education may impact those numbers.
The need for accountants is expected to be balanced with demand through 2031. That's similar to the average growth rate for most careers.
You can work just about anywhere, ranging from schools and hospitals to government agencies and nonprofit organizations. You can work for small businesses or large corporations. You can even work for individuals or start your own firm and have several clients.
Many accountants work about 40 hours a week, keeping typical business hours. However, some work part-time, and some work longer hours, especially if they own their own firms. You may find that certain times of year are busier than others.
Indeed. "Accountant salary in Canada, https://ca.indeed.com/career/accountant/salaries?from=top_sb." Accessed September 24, 2024.
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