How does one become an accountant? What are the different types of accountants?

By Patrick Jean4 min read · Posted Mar 5, 2024

83
Views

How does one become an accountant?

“I was always more comfortable around numbers than people. I could control numbers.”—Thor “The Swede” Gundersen (Christopher Heyerdahl), “Hell on Wheels” TV series (2011–2016)

Working with numbers is a stereotype when it comes to being an accountant. Yes, you will do that, but you will also have to deal with people and communicate effectively with them. Hence a comfort level with number-crunching and people skills are both needed for this profession.

d1fbff19-727f-42cf-8222-d33887a36d6a.png

Once you become an accountant, you could work for individuals, companies, or governments with different capacities or roles, discussed further in the article. But how do you become an accountant?

You can become an entry-level accountant by graduating with a Bachelor’s degree in accounting or Business Administration. Getting an internship while in your later years of studies will help you get a grasp on the field early on. For those interested in specialized job opportunities in order to qualify for better salary packages, higher education of a Master’s degree and/or specialized certifications like that of a Certified Public Accountant (CPA) will be ideal.

An expanded list of the possible higher accredited certifications is listed further below. The list of certifications may differ for different countries across the globe, along with the requirements to qualify for those certifications. Even within the United States the CPA exam requirements differ from state to state and you need to do your research for the state or the country where you wish to practice.

To start with, you will need to research where to begin your studies.

Sites such as “U.S. News & World Report” update their annual lists of the best accounting programs in the country. You can tailor the results to find colleges to apply to that fit your location and budget. In the United States, most bachelor’s programs take four years and around 120 credits to complete. If you’re seeking a CPA certification, some colleges offer five-year programs that let you earn a Bachelor’s and Master’s degrees at the same time.

Becoming a CPA is quite a challenge as the exam to pass is quite in depth and rigorous. You will have to meet the requirements of the state where you intend to work, and pass a national exam developed by the American Institute of Certified Public Accountants (AICPA). The passing rate of a CPA exam in the first try is very low and the applicants can retake the exam many times. Though there is no limit to how many times you can take the exam, there is a time span of 18 months (as checked last at this site for a New Jersey state CPA certification) during which the exam must be passed. The exam may change from year to year and this Forbes site shows the revised test for 2024, giving you an idea of a typical CPA exam.

Reviewing the applications and forms for the New Jersey state board of Accountancy and the Study Material for the New Jersey CPA exam will help you further understand the requirements.

You can also increase your job skills and job opportunities by acquiring other certifications. These include, but are not limited to:

  • Accredited Business Accountant (ABA)
  • Certified Fraud Examiner (CFE)
  • Certified Information Systems Auditor (CIFA)
  • Certified Internal Auditor (CIA)
  • Certified Management Accountant (CMA)

Once fully accredited and working, you have to keep up with the changing accounting laws. Many states and professional organizations require ‘Continuing Professional Education (CPE)’ for accounts to maintain their licenses and certifications. Failure to do so could lead to fines, penalties, and even loss of licensure and certification.

What are the different types of accountants?

Accountants can choose from four major fields of practice, which are:

  • Government accountants, who are employed by local, state, and federal governments. In addition to their government bookkeeping, they audit businesses, individuals, and even government branches to make sure regulations are being followed and taxes are being paid. Examples of government accountant jobs include auditor, accounting clerk, financial accountant, cost accountant, and budget analyst.
  • Internal accountants, who are often called internal auditors. If you like detective stories, this is the field for you. You will investigate internal workings of a business and try to uncover or prevent fraud, mismanagement, and mistakes. Your types of work could include compliance audits, operational audits, financial audits, and information technology audits.
  • Management accountants, who usually work on a team for companies. They’re the “power behind the throne” for business executives, since management accountants provide those executives with the analysis and information to make decisions and prepare financial reports. Types of management accounting include cost accounting, accounts receivable, international accounting, and inventory accounting.
  • Public accountants, who provide multiple services (accounting, auditing, consulting, and taxes) for individual or corporate clients (businesses, governments, individuals, and nonprofit organizations).

According to the federal Bureau of Labor Statistics’ Occupational Outlook Handbook, more than 1.5 million people were employed as accountants and auditors in the United States as recently as 2022. Their average annual salary was $78,000. And the field is expected to grow 4 percent, or add 67,400 jobs, by 2032, as per the Handbook.

Tax laws and regulations are regularly updated, or new laws are written every so often. The best ways for accountants to stay abreast are to attend industry wide events and stay connected with professional groups. Such groups are a good source for current information and updates on accounting laws and standards, as well as offering training sessions, webinars, and workshops.

The AICPA’s website in partnership with the Chartered Institute of Management Accountants (CIMA), as well as the Institute of Management Accountants’ website, are good resources for staying updated on accounting laws, regulations, and best practices.

About The Author

Patrick Jean

1
Articles
83
Total Views
6
Total Likes
0
Total Shares

See more posts by Patrick Jean

Comments

Loading...

Your generosity fuels innovation and drives success!

Our resources are assembled by a team of entrepreneurs who donate their time and energy to Pitch Labs to ensure that entrepreneurial resources are available to everyone. Unfortunately, we can't avoid major expenses such as website hosting fees. To ensure our resources remain free to access and use, we rely on donors who are able and willing to give back. Consider donating to be a part of the Pitch Labs mission today!

More in Financial


Financial » Accounting

What Is The GAAP?

by Callie Leff ·Apr 28, 2025

6
Views

GAAP is a set of accounting principles for public businesses, non profits, and government agencies to ensure transparency and accuracy. Read more

Financial » Funding

Where To Find Resources To Benefit Your Small Business

by Callie Leff ·Apr 7, 2025

22
Views

Whether it’s grant opportunities or educational seminars, it can be difficult to know where to start your search for small business resources. Read this article for some great jumping off points! Read more

Financial » Economics

What is the Consumer Confidence Index?

by Warren Patterson ·Apr 2, 2025

30
Views

You'll learn what the consumer confidence index means and how to measure it. Also, you'll discover the factors affecting consumer confidence, and where to get information about current standing and trends. Read more

Financial » Investing

What are internal and external stakeholders?

by Aashna. Haryani ·Mar 31, 2025

34
Views

What are stakeholders? What/Who is an internal and external stakeholder? Why are they important? Read more

Recent articles


Operations » Product & Service Management

What are revenue streams?

by Sunnie Souza ·Apr 30, 2025

2
Views

Revenue Streams are the various sources of operational, and non-operational revenue for a company. Read more

Operations » Product & Service Management

How to Manage Customer Relationships

by Deborah Taiwo ·Apr 25, 2025

17
Views

This article explores how businesses can foster genuine connections with their customers to build trust, drive loyalty, and ensure long-term success. It provides actionable steps for understanding and delighting customers. Read more

Operations » Management

Mastering Data-Driven Decision-Making for Your Business

by Christina Molitor ·Apr 23, 2025

16
Views

Data-driven decision-making relies on inputs such as customer preferences, edge analytics, and AI, prioritizing evidence over intuition and helping automate the decision making process. Read more

Basics » Business Plans

How to describe your product or service in your business plan

by Warren Patterson ·Apr 21, 2025

22
Views

A good product or service description is important in business as it helps drive traffic, generate leads, and build sales. This article looks at what’s included in a product or service description. Read to learn more. Read more

Join Our Community


Looking for something else? Get your questions answered in our free online learning community!

Entrepreneurial Resources


Jumpstart your next business with our free resource library.

Disclaimer


Our organization cannot give out official legal/fiscal guidance. All articles are written by volunteers and it may be beneficial to contact professionals to assist your understanding of the information and to guide your action. Pitch Labs bears no responsibility for the results of actions taken based off of article content or any other form of assistance given.