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Thinking About Pursuing a Career in Accounting and Switching Majors

September 3rd, 2016 Admin Pursuing a Career in Accounting
Thinking About Pursuing a Career in Accounting and Switching Majors

Pursuing a Career in Accounting

If you are looking to pursuing a career in accounting, it’s no big surprise that you should have a special skills to manipulate the accounting numbers. As a Certified Public Accountant, CPA or Chief Financial Officer, CFO, you will be responsible for reviewing and analyzing the different aspect of financial information for any entity whether public or private. These financial information are analyzed for several purposes including but not limited to:

  • Audit
  • Tax
  • Reporting
  • Advisory

As an accountant (CPA) or Chief Financial Officer (CFO), you will be asked to prepare and provide financial reports to company board of directors about its overall health, financial strategy or advising the board about possible merger, acquisition or any expansion plan that a company is considering.

But in reality, it’s not about crunching the accounting numbers, the technology (accounting software’s) took over the manual book-keeping process. Even though with all the accounting software available to do the job for you, your presence will still needed as a problem solver for company since you will be working very closely with top management or board of directors of the company.

In order to be become a certified public accountant, you will need to earn not only an additional credits hours in addition to your bachelor’s degree but also pass the four semester CPA exam. The average salary for a beginners working as CPA is about $45,500 and it’s around $40,900 if you are a tax accountant. But working as a financial officer/controller, one can earn average starting salary of $90,000, according to Glassdoor.com.

After passing the CPA exam, you have two choices, one is to start your career as CPA of your own firm and secondly you can work as full time for big or small, public or private companies. Even in major economic crisis, the accounting jobs have a fewer cut than other types of jobs. The beauty of the accounting career is that you will gain a diverse interest which eventually will help you grow as you progresses in your accounting career. Lot of people think that accounting is not a lucrative field, but it’s a very stable field and it’s going to stay here even with the tough economic environment or the accounting software’s that do the job for you.

Whether it is the new accounting law that just passed by US congress or it’s a new investment in the renewable energy companies, the accountant will be needed to solve the financial puzzles for the companies. You being a versatile accounting professionals can easily switch career to either finance or start your own business if don’t like the accounting field.

According to the latest survey, 75% of those says that accounting degree is must in order to advance in their career. 65% respondent says that they will recommend that one should major in accounting in order to get a good start in their career. The most students pursued major in Accounting, Business and Finance. It’s a great idea if you start your career as an intern early when you are in either junior or senior class of high school.

Accounting professionals can start their career working at one of the 10 big accounting firms below:

  1. Deloitte: Deloitte is ranked number 1 accounting firm. Their annual revenue approximately were in the range of $15,067 million and $20,057 million. The company headquartered in New York City, NY and it employs approx. 35,000 people.
  2. PwC: Pwc is the second in the top 10 accounting firms. Their annual revenue ranges from $12,000 to $14,050 million. The company headquartered in New York City, NY and employs approx. 30,000 people.
  3. Ernst & Young: Ernst & Yong holds the third position in the top 10 accounting firms. Their annual revenues ranges from $9,500 to $11,000 million. The company headquartered in New York City, NY and employs approx. 30,000 people.
  4. KPMG: KPMG came on the 4th place in top 10 accounting firms. Their annual revenue ranges from $6,200 to $7,000 million. The company headquartered in New York City, NY and it employs approx. 24,000 people.
  5. McGladrey: Mcglary hold the 5th position in the top 10 accounting Their annual revenue ranges from $1,350 million to $1,500 million. They are based in the state Illinois and currently employs approx. 7000 peoples.
  6. Grant Thornton: Grant Thornton is placed on 6th position. Their annual revenue ranges from $1,250 million to $1,300 million. The company headquartered in Chicago, IL and employs approx. 4000 people.
  7. CBIZ/Mayer Hoffman McCan: CBIZ/Mayer Hoffman McCan hold the number 7th position in the top 10 accounting firms. Their annual revenue ranges from $785 million to $800 million. They headquartered in Cleveland, Ohio and employs approx. 4100 people.
  8. BDO: BDO holds the 8th position in the top 10 accounting firms. Their annual revenue ranges from $620 to $700 million. Their head office is located in Chicago, IL and currently employs approx. 3000 people.
  9. Crowe Horwath: Crowe Horwath positioned themselves on number 9th position. Their annual revenue ranges from $600 to $620 million. They are headquartered in Oak Brook Terrace, IL and currently employs approx. 3000 people.
  10. Clifton Larson Allen: Clifton Larson Allen is on number 10th position. Their annual revenue ranges from $550 million to $600 million. They are based in the State of Milwaukee and currently employs approx. 4000 peoples.

There are some accounting placement services also if you don’t live near the top 10 firms above. The top accounting placement services are:

  1. Robert Half Finance & Accounting: This is the number one accounting employment and staffing agency. Their offices spread across Unites States. One can search for Robert half on google search engine and find their office near you.
  2. Accounting Principals and Staffing Services: The Company provides accounting employment and staffing services. They matched the right skills with right type of job.
  3. Kelly Services: Kelly services is a global company providing the job placement in accounting, finance and other industries.
  4. Accounting and Finance Staffing Services: They are expert in matching the right skills with right type of accounting and finance jobs available.
  5. Kforce Staffing and Solution: Kforce is a professional accounting placement services matching job seekers and employers in accounting, finance, and healthcare.

The college students can start their career as an accounting tutor helping students in junior or senior high school. There are several tutoring companies students can work part time as tutor. Tutor Pace is one of the best tutoring companies that offers a handsome hourly rate and one can work conveniently from home, library, or even café.

If you preparing for CPA exam and you need assistance, you can connect with Tutor Pace Online Accounting Tutors anytime, anywhere.

With so many doors open now a days to accounting and financial professionals, I recommend students, entry level professionals and hiring managers to do their homework to learn what certifications is best for them.

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