Question

1. What is the career outlook for accounting professionals?

2. What organizations should beginning accounting professionals join?

3. What are average Accountants and Auditors salaries?

Answer 1

1. Career outlook for accounting professionals

The U.S. Bureau of Labour Statistics states that the employment of accountants is expected to grow 10 percent through 2026, which is faster than average for all occupations. In general , employment growth of accountants is expected to be closely tied to the health of the overall economy.

Career advancement will likely require you to pursue more accounting education or earn accounting certifications, which open the door to opportunities.

One can work for big private accounting firms, directly for a corporation, for a government agency, or even for ourself as an accountant. While the demand does vary between each sector, the corporate sector and government sector are predicted to have a lot of job openings in the upcoming years.

One of the main reasons why job outlook is positive is because the accounting is an ever-changing field where regulations and global laws change. Because finance is perhaps the most important behind-the-scenes aspect of a business, you can understand why corporations and even small businesses hire talented accountants to gather financial information, record this information, summarize it, and to make predictions and recommendations for future financial health.

(2) Great Professional Organizations for Accountants

• American Association of Finance and Accounting. ...
• The Institute of Internal Auditors. ...
• Institute of Management Accountants. ...
• Professional Association of Small Business Accountants. ...
• Young CPA Network

(3)Earning Potential in Accounting & Auditing and Salary Trends

The median annual wage (Average )for accountants and auditors is $68,150. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less, but CFO and other executive salaries double or triple this average. The lowest 10 percent earned less than $42,140, and the highest 10 percent earned more than $120,910.

CPAs are consistently well paid because they're in high demand. And when you're in high demand, you can count on career stability, a competitive salary and lots of chances to advance. ... The best job opportunities will be for accountants and auditors who have an accounting degree and CPA license.

If a career is about earning potential to you, an important factor to consider is pay. If you have the proper educational background, the right training, and you earn your CPA licensing, you can use your accounting education to earn high six figure salaries once you work your way up the ladder and gain experience. Median annual wages for accountants and auditors in the top industries in which they work are as follows:

Finance and insurance	$72,950
Management of companies and enterprises	70,790
Accounting, tax preparation, bookkeeping, and payroll services	68,130
Government	65,820