How to become an ACCOUNTANT?

HOW HOW HOW???

You will need a four year business degree to get a job as an accountant. It is imperative that you like numbers and are good in math as you will need to have a lot of math courses under your belt. Exceptional organizational and communication skills are a must, as well as operating a computer efficiently. Most all accountants now use a computer, very few still use a spreadsheet to do business.

You will need to be qualified and certified as a CPA (Certified Public Accountant in the US, or Chartered Accountant in Canada) by taking an exam, at which point you will get a license. If you pass your first attempt at the exam, then you can be licensed. If not, then you may have to go back for another year of school (Masters in Accounting) in order to attempt the exam again. After that, you can try as many times as you need, in order to pass.

A company may also require you to take even more training to be an accountant at their place of business. You can also become a member of the ACCA (Association of Chartered Certified Accountants) or the IFAC (International Federation of Accountants).

STEP TO BECOME AN ACCOUNTANT:

STEP 1: Decide between Accountant and CPA.

There is a difference between an accountant and a Certified Public Accountant. Accountants (also referred to as “public accountants”) are typically individuals hired to work in the accounting departments of businesses, but lack several of the qualifications of a CPA. Accountants, for example, may not possess state certification or license. Accountants can perform certain limited tasks, such as the preparation of financial statements. They may also prepare tax returns if they have passed the required IRS test or received a Preparer Tax Identification Number. They may not, however, conduct audits or review financial statements.

Certified Public Accountants must meet a number of specific requirements, including earning a college degree, passing all parts of the CPA exam, and working for a set number of hours (usually 1800) under the supervision of an actively licensed CPA. CPA’s can perform all of the same tasks as a public accountant, but additionally may conduct audits, review statements, and represent clients before the IRS.

In deciding which type of accountant career to pursue, an individual must honestly assess his or her personal goals and willingness to put in the considerable time and effort needed to become a CPA.

STEP 2: Earn the right Degree.

Although not required, most accountants attend college and earn a bachelor’s degree. However, a bachelor’s degree in accounting or a related field is considered the minimum education requirement for those who plan to become a CPA. Some states even require advanced coursework beyond the normal bachelor’s degree in subjects such as financial reporting, taxes, auditing and other non- accounting business areas. A total of 150 credit hours in accounting and related areas are commonly needed. Students interested in becoming a CPA should check the specific education requirements in their jurisdictions. Many CPAs also continue their post-secondary education and earn a master’s degree.

Five Popular Accounting Degrees:

Although CPAs have specific education and experience requirements, regular accountants do not. That means students have the opportunity to study in any number of related fields and still be eligible to fill accounting positions. Here are five popular degree options for accountants.

• Accounting

Accounting is the degree of choice for those who know they definitely want to go into the field. It goes by many names, including B.Acy, B.Acc, or B.Acc.Sci on the bachelor’s level. Degree programs range from associate to doctorate and cover financial record keeping and accounting principles in areas such as government, non-profit, management, income tax and more.

• Auditing

Although related to accounting, a degree in auditing is more specialized and usually offered at the graduate level. Programs and courses in auditing focus on the process of auditing financial information, ethics and responsibilities, document collect and organization of evidence.

• Business

Like finance, degrees in business may offer the opportunity to learn not only accounting but also other related skills. Business degrees provide students with knowledge in management, marketing and finance and that may qualify them for a diverse range of jobs after graduation.

• Finance

Depending on a school’s particular program, students earning a finance degree may have the opportunity to either become familiar with or learn basic accounting practices while also gaining broad knowledge about money management. Students majoring finance can specialize in any number of areas, including stock investing, money management, banking and more, all of which have varying ties to the accounting profession.

• Taxation

Degrees in taxation attract students who wish to gain a comprehensive knowledge of tax accounting, tax law, tax research and taxation procedures. In addition to serving as a degree for CPAs, master’s degrees in taxation may be good for consultants and attorneys.

Accounting degree programs are very popular and commonly available at colleges and universities throughout the United States, as well as through distance learning. Prospective students should always confirm that a program is fully accredited before beginning a course of study.

STEP 3: Pass the CPA exam.

All states require CPA candidates to pass all four parts of the CPA exam. Those four parts are: Audit and Attestation; Financial Accounting and Reporting; Regulation; and Business Environment and Concepts. The CPA exam is offered during the first two months of every quarter, and typically over the course of several days. Candidates may take the test parts in any order they choose, but once they have passed one part, they must successfully complete the other three parts within 18 months. Given its degree of difficulty and breath of subject matter, most CPA test candidates enroll in private test preparation courses.

STEP 4: Pick a Specialty.

Virtually all accountants and CPAs specialize in one or more areas of practice. The two general areas of specialization are public accounting and corporate or business accounting. A number of sub-specializations also exist, such as environmental accounting, internal auditing, managerial accounting and taxes. Often, the specialty you select coincides with the accounting degree you earned.