According to US Bureau of Labor Statistics (BLS), employment of accountants and auditors is projected to grow 4 percent from 2019 to 2029, about as fast as the average for all occupations. In general, employment growth of accountants and auditors is expected to be closely tied to the health of the overall economy. As the economy grows, more workers should be needed to prepare and examine financial records.
According to BLS, the median annual wage for accountants and auditors was $73,560 in May 2020.
Types of roles:
Accountant: An accountant prepares, analyzes, and maintains financial records. They typically work for a company, managing that company’s finances, or they own and operate their own independent practice. They might perform a variety of tasks, including managing a company’s payroll, taxes, and various other payments.
There are many different types of accountants, including general accountants and tax accountants. There are different duties performed in each role. Here are some common job titles in Accounting:
Accounting Clerk: An accounting clerk answers to an accountant or to an owner of the business. Accounting clerks may create or keep financial records for a business.
Some tasks may include data entry, produce reports on financial information, and using accounting software. Accounting clerks work in all industries as each business owner or company has need.
Auditor: Like an accountant, an auditor has similar duties. The tasks or an auditor includes prepares, preparing financial records, and then managing those records. There is a difference between an auditor and accountant though, the auditor usually does not work for the company, but another outside firm. The reason is so that a company can have the financial work of the compay accountant or financial team checked. An auditor is not limited to one company, and typically does work for many.
Internal Audit Director
Revenue Tax Specialist
Controller: A controller typically reports to the chief financial officer (CFO) or may even be the CFO of a company. A controller is responsible for activities around accounting for one company. Tasks may include financial statements and budgets, process data, and/or taxe preparation.
Director of Finance
Finance Vice President
Financial Analyst:A financial analyst is focused more on investing. Typically a financial analyst will look over finances for a business and report whether or not a recommendation will be given for an investment to banks, other companies or other investors. Financial analysts are concerned with cash flow trends, company valuations, and the viability of purchasing/issuing stock.