Does Your Small Business Need an Accountant?

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Business Gateway
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Accountants are perhaps one of the most sought after and highly paid professionals around, and demand for them is expected to continue growing. What you may not know is that you do not have to become a fully certified public accountant to reap the rewards of working with numbers. In fact, there are a great deal of good jobs in different industries that allow you to utilize your financial education even if you have not yet passed the board or you can start your own small accountancy business.

The fact is that a large percentage of unlicensed accountants are now employed by different industries as auditors, bookkeepers and even budget analysts; while the pay may not be as good as CPA’s, there are lots of benefits to be had.

1. Auditors

What They Do: Often, accountants begin their career as auditors until they can become certified. Auditors are primarily tasked with the job of evaluating a company’s financial records, as well as checking on their specific bookkeeping procedures. If you are interested in becoming one, you can choose to be employed as either an internal or external auditor. The former means that you are a permanent employee of a company, while the latter involves work as an independent contractor who provides audit-related services within a given time frame, typically once a year.

How to Become One: Auditors are required to complete a 4-year Bachelor’s Degree in accounting and obtain at least 1 – 2 years job experience in any related field.

What They Can Earn: Just like CPA’s, these financial examiners can also work in any given field so long as there is accounting, bookkeeping and tax work involved. On average, working in an auditing firm pays $70,000 in a year.

2. Budget Analysts

What They Do: As the name implies, budget analysts are those who are in charge of evaluating and examining financial proposals and estimates to check for any inaccuracies. As such, they are regarded as expert planners who are adept at mapping out budgets that are conducive to what a company needs.

How to Become One: In addition to a 4-year Bachelor’s Degree, budget analysts are required to complete a master’s degree in any of the following types of fields: economics, statistics, finance, accounting, or public administration. Public speaking and communication skills are necessary in this profession, since you will need to constantly converse with managers and top-ranking officials, especially during finance presentations.

What They Can Earn: Take home pay for this particular occupation differs for each individual depending on work experience, educational background, and overall performance. Senior ranking analysts, for instance, earn as much as $70,000 – $80,000 per year, while those who are only starting out would get more along the lines of $60,000 – $65,000.

Starting a Business
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3. College Professors

What They Do: Accounting graduates can also opt to impart their knowledge on the younger generation by becoming an educator in the fields of finance, accounting, marketing, or human resources.

How to Become One: To be a qualified college instructor, you have to complete a degree in education. Some institutions may also require a master’s degree, a PhD, or a law degree to be able to teach. Additionally, you must gain a significant amount of work experience before you can become a full-fledged professor.

What They Can Earn: Depending on the institution, your tenure, and field of specialization, you can demand an annual salary averaging $80,000 – $ 100,000.

While earning the necessary license and certification to become a CPA can be the fulfillment of a life-long dream, not doing so still leaves you with many options, given the many employment opportunities you can still enjoy as an accounting graduate.

If you decide you are serious about an accounting degree program, then consider an online BS in accounting that can be flexible around your work and family life.

Small Business

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