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Post University Blog

man in tie calculating numbersDoes this describe you: Highly organized, detail oriented, and analytical, with a passion for crunching numbers and assessing costs? Pair those attributes with strong communication skills and an aptitude for math, and you’ve got the makings of a stellar accountant.

A Bachelor of­ Science in Accounting provides you with a solid foundation in the practices and methods of business in the current competitive environment. You’ll develop valuable financial planning skills applicable to any business setting. In addition to preparing you for a career in tax accounting and auditing, your B.S. in Accounting opens the doors to numerous positions across a multitude of industries. The deep knowledge about business that accounting provides you also prepares you to establish your own company if entrepreneurship calls to you.

Post’s Accounting graduates can go on to hold a variety of rewarding positions that include (Please Note: CPA licensure may be needed):

  • Director of Finance
  • Investment Fund Manager
  • Controller
  • Cost Estimator
  • Accounting Analyst
  • Business Analyst

Strong employment growth projected for accountants

The U.S. Bureau of Labor Statistics (BLS) expects employment of accountants to grow 10 percent from 2016 to 2026, faster than the average for all occupations. While these 139,900 new jobs ensure a good amount of entry-level positions will be available to graduates, the BLS notes that competition will be fierce. The more highly educated candidates will enjoy a huge advantage when it comes to landing positions with the most prestigious accounting and business firms. You might find your B.S. acts as a stepping-stone to a master’s degree in accounting, a master’s degree in business administration (MBA) with a concentration in accounting, or a Certified Public Accountant (CPA) license.

The BLS attributes the strong demand for skilled accountants to several factors:

  1. Globalization of business: Increases the need for accounting expertise and services related to international trade and international mergers and acquisitions.
  2. A growing economy: Requires accountants to prepare and examine financial records for individuals and organizations that go public.
  3. An increasingly complex tax and regulatory environment.
  4. Technological changes: Although some routine accounting tasks, such as data entry, may become more automated over time, accountants will be even more sought after for their advisory and analytical contributions.

Where accountants work and how much they earn

Accountants and auditors held about 1.4 million jobs in 2016, according to the BLS, and the median annual income was $69,350 in May 2017. The largest employers and their respective median salaries were as follows:

  • Accounting, tax preparation, bookkeeping, and payroll services: 25% — $69,410
  • Government: 8% — $67,100
  • Finance and insurance: 8% — $74,140
  • Management of companies and enterprises: 7% — $72,160
  • Self-employed workers: 7% — Income varies based on location, education, and experience.

Three types of accountants and their duties

The primary role of an accountant is to prepare and examine financial records to ensure accuracy. They oversee the timely and correct payment of taxes and, in large companies, they assess financial operations to look for ways to reduce costs, increase revenues, and improve profits. The BLS explains the difference between three common types of accountants:

Public Accountants:

Employed by individuals, corporations, and governments to oversee financial documents that clients are required by law to disclose. These include tax forms, corporate balance sheet statements, and the annual and quarterly reports that publicly traded companies submit to the Securities and Exchange Commission (SEC).

Many public accountants are CPAs who perform a broad range of accounting, auditing, tax, compliance, and consulting tasks for clients, either as self-employed owners of their own firms or as employees of public accounting firms.

Management Accountants:

Also called cost, corporate, or private accountants, are employed by organizations for which they record and analyze financial information. They often work on budgeting, performance evaluation, and asset management. Glassdoor ranks management accountant as one of the 50 best jobs in America based on the number of job openings, the overall job satisfaction rating, and the median base salary of $82,000.

Government accountants:

“Maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation,” explains the BLS. These accountants work for federal, state, and local governments where it falls to them to ensure that revenues are received and spent in accordance with laws and regulations.

Because financial health is critical to every business’ viability, accountants have a great amount of flexibility when choosing where they’d like to live geographically and in what type of industry they’d like to specialize. Other places you’ll find great employment opportunities include:

  • Medical and Surgical Hospitals
  • Pharmaceutical and Medicine Manufacturers
  • Colleges, Universities, and Professional Schools
  • Aerospace Product and Parts Manufacturers
  • Scientific Research and Development Services
  • Architectural, Engineering, and Related Services
  • Computer Systems Design and Related Services

The Malcolm Baldrige School of Business curriculum

Whether you attend classes at Post University Connecticut campus or online, you can expect the personal attention and support you need to succeed in an increasingly multicultural and multinational business environment. In Post’s Accounting concentration, you’ll learn the foundational concepts and principles of accounting, as well as the basic framework for recording and reporting transactions.

Your General Education Requirements include courses in Liberal Arts, Math, Science, and a Managerial Communications writing course. Major and Core coursework will provide you with a solid foundation in Business Law, Financial and Managerial Accounting, Principles of Management, Marketing, and International Business, and Microeconomics.

Coursework in your Accounting concentration includes:

  • Accounting Principles application (United States and International)
  • Financial statements preparation and analysis
  • Tax law reporting and compliance
  • Audit standards and procedures
  • Business information analysis using current technologies