In a competitive economy, businesses of all sizes and across all industries require the expertise of qualified accountants who can assist with everything from everyday cash flow to complicated government compliance issues. Because of the complexity of these duties, many employers require accounting applicants to have undergraduate credentials — ideally, a BS in Accounting. Detailed below are a few promising sources of income for accounting degree holders:
The healthcare industry has long been a top source of jobs for qualified accountants, but this is even more evident in the aftermath of the Patient Protection and Affordable Care Act (often referred to as ObamaCare). Those who achieve success in the healthcare industry are able to combine their thorough understanding of accounting practices with more targeted knowledge of health care terminology and legislation. Health care employers show clear preference for any applicant with an MS in accounting degree, as this is deemed necessary for dealing with insurance billing and compliance issues.
From huge corporations to small, but influential startups, a variety of tech companies turn to accountants for assistance with everything from government compliance to business consolidation. No two days are the same for tech sector accountants, who must prepare for rapid expansion and the constant possibility of startup failure.
Government accountants work for a variety of state and federal entities, including the Internal Revenue Service, the Department of Education, and even the Federal Bureau of Investigation. Accountants tend to have the most success in these areas when they possess a combined background in accounting and one other area. It is, therefore, in the aspiring government accountant’s best interest to pursue credentials in multiple areas, such as a bachelor’s degree in both accounting and criminal justice.
Accountants are arguably more of a necessity in the nonprofit sector than anywhere else; nonprofit organizations perform great work and enhance the community, but they also constantly deal with cash flow problems. Nonprofit accountants spend much of their time detailing assets and expenses. Their expertise may also be required as nonprofits aim to achieve tax-exempt status.
Retail accountants work for local businesses, vast corporations, and everything in between. Many provide freelance services, although in-house accountancy is also quite common in the retail sector. A BS in accounting degree is essential, but for senior positions, an MS in accounting may be required as well.
The Bureau of Labor Statistics reports a promising 11 percent job growth rate for accountants, compared to just 7 percent across all professions. The field remains competitive, however, and without at least an undergraduate education, your chances of finding work are slim. A bachelor’s or master’s degree can help you secure a rewarding and high-paying job in your area of interest. Visit Maryville University online to learn more.