Salary, Job Description, How To Become One, and Quiz
Accountants
Accountants analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
Table of contents
What they do
Accountants analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Maintain or examine the records of government agencies.
- Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Review accounts for discrepancies and reconciles differences.
Typical day
On a daily basis, Accountants analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice. They review accounts for discrepancies and reconcile differences.
A typical day for an Accountant will also include:
- Prepare forms and manuals for accounting and bookkeeping personnel and direct their work activities.
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Maintain or examine the records of government agencies.
- Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
- Prepare to adjust journal entries.
Other responsibilities
Besides their typical day, Accountants also develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs. They may also advise management about issues such as resource utilization, tax strategies, and the assumptions underlying budget forecasts.
On a weekly to monthly basis, Accountants prepare to adjust journal entries. They might also report to management regarding the finances of the establishment.
In addition, they compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.
Although specific duties may vary, many of them prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
To some Accountants, it is also their responsibility to review accounts for discrepancies and reconcile differences.
What is the job like
Job satisfaction
Is this job meaningful
71% said they were satisfied with their job and 38% said they found their job meaningful.
As a Financial Accountant, I ensure that the organization is complying with regulatory requirements by completing returns and producing financial statements. This means I take all of the financial information that has been input onto the accounting system and turn that data into a meaningful set of accounts that the reader can understand. I don’t … Read More
My daily job differs slightly from general CPAs because I also have to account for running the business and taking care of those duties. With that being said, my general tasks include liaising with potential and existing clients, investors, etc, discussing work and projects with employees, organizing and updating account records, analyzing transactions, forecasting revenue … Read More
I’m the accounting manager at Elias Savion Advertising and I really enjoy what I do. I have always enjoyed working with numbers, analyzing financial statements, and playing around in Excel. Therefore, working in accounting has offered me an opportunity to do what I enjoy and to use all of these skills in my daily work. … Read More
A normal workday would depend on what time of the year/month it is. This time of year, we are working on finalizing all of the year-end related close items and getting ready for our own internal audit. How big your organization dictates how much of the financials you’ll have an impact on. With very large corporate … Read More
I work in corporate accounting for a big company. We have a monthly close cycle that takes up about 10 business days each month. I prepare journal entries, and I do a lot of reporting for other people in the company, consisting of the monthly results. In addition to the monthly close process, we have … Read More
Pros
Suitable for people who like to follow routines.
Suitable for people who value achievements and are results-oriented.
This career is perfect for people who love to work indoors.
Very good salary.
Normal working hours (40 hours per week).
Cons
Not suitable for people who like to work with designs.
It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
How much do they make
Average salary
Average hourly wage
Entry-level Accountants with little to no experience can expect to make anywhere between $45,220 to $57,110 per year or $22 to $27 per hour.
Salary by experience | Annual | Hourly |
---|---|---|
Highest (Top 10%) | $128,680 | $62 |
Senior (Top 25%) | $97,530 | $47 |
Median | $73,560 | $35 |
Junior (Bottom 25%) | $57,110 | $27 |
No experience (Bottom 10%) | $45,220 | $22 |
This table shows the top 10 highest paying industries for Accountants based on their average annual salary.
Salary by industry | Annual | Hourly |
---|---|---|
Computer and Peripheral Equipment Manufacturing | $112680 | $54.17 |
Federal Executive Branch | $105980 | $50.95 |
School and Employee Bus Transportation | $105060 | $50.51 |
Securities, Commodity Contracts, and Other Financial Investments and Related Activities | $102020 | $49.05 |
Other Information Services | $99810 | $47.99 |
Monetary Authorities-Central Bank | $97590 | $46.92 |
Local Messengers and Local Delivery | $96610 | $46.45 |
Pipeline Transportation of Crude Oil | $94880 | $45.62 |
Inland Water Transportation | $94330 | $45.35 |
Software Publishers | $93670 | $45.03 |
View more salary by industries here.
Where can they work
Where can Accountants work? Here is a table showing the top 10 largest employers of Accountants including the average salary in that industry.
Employers | Total Employed | Annual Salary | Hourly Wages |
---|---|---|---|
Accounting, Tax Preparation, Bookkeeping, and Payroll Services | 339020 | $85050 | $40.89 |
Management of Companies and Enterprises | 97250 | $82770 | $39.79 |
Local Government | 46060 | $71420 | $34.33 |
State Government | 41780 | $68460 | $32.91 |
Real Estate | 36180 | $78370 | $37.68 |
Management, Scientific, and Technical Consulting Services | 35060 | $85430 | $41.07 |
Credit Intermediation and Related Activities | 31610 | $84130 | $40.45 |
Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 31450 | $102020 | $49.05 |
Computer Systems Design and Related Services | 24080 | $89350 | $42.96 |
Colleges, Universities, and Professional Schools | 22710 | $69110 | $33.23 |
What is the work day like
Working hours
Working schedule
How often do you use email in this job?
Telephone
How often do you have telephone conversations in this job?
Group discussions
How often do you have group discussions in this job?
Public speaking
How often does this job require you to do public speaking?
Level of competition
How much competitive pressure is in this job?
What is the work environment like
Office-style environment
Indoors in an environmentally controlled condition
Warehouse-style environment
Indoors in a non-controlled environmental condition such as a warehouse
Outdoors
Outdoors exposed to all weather conditions
Outdoors – Under Cover
Outdoors but under cover (e.g. structure with roof but no walls)
How to become one
Difficulty to become one
Required level of education
What level of education do you need to perform the job?
Relevant majors
Taxation
Accounting
Auditing
Accounting and Finance
Accounting and Business/Management
Financial Forensics and Fraud Investigation
Accounting and Computer Science
Relevant work experience
How much related work experience do you need to get hired for the job?
On The Job Training
How much on the job training do you need to perform the job?
Should you become one
Best personality type for this career
People with this personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.
People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.
People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.
People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.
People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.
People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.
People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.
You can read more about these career personality types here.
People who are suitable for this job tend to like following set procedures and routines. They like working with data and details more than with ideas.
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.
Take this quiz to see if this is the right career for you.
Work Values
Which values are the most important to a person’s satisfaction for this job?
You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.
You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.
You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.
You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.
You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.
You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.
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