Accounting is the language of business, offering students the skills to analyze financial data, make strategic decisions, and ensure organizational success. As an accounting major, you’ll gain a deep understanding of financial principles, tax regulations, and auditing practices, preparing you for a variety of career paths in industries ranging from corporate finance to public accounting. With strong demand for accounting professionals and opportunities to earn certifications like the CPA, an accounting degree provides both job security and excellent earning potential. It’s a smart choice for students interested in numbers, problem-solving, and making a measurable impact in the business world.

Below are just a few of the many career paths you can take with an accounting degree.

• Assurance
  • Assurance is typically known as the audit practice.  Day to day activities include evaluating the way the company matches up with GAAP.  People that work in assurance are typically the “watchdogs of truth”. CPA is typically required.
• Tax
  • The tax practice typically deals with compliance and strategy. Day to day activities consist of consulting with companies on how to grow the business while minimizing the expense of tax. CPA is typically suggested.
• Advisory
  • The advisory practice helps organizations achieve goals and make decisions in regard to mergers, acquisitions, restructuring, etc. The environment is extremely dynamic and day to day activities often vary. CPA is typically suggested.
• Controllers
  • Controllers are responsible for the financial record keeping of a business.  They often keep track of cost activity throughout the company. There are also specialized groups, such as the “Profit Center Support”, who help support business operations. CPA is typically suggested.
• Internal Audit
  • Internal audit is when a company has the audit function within the organization rather than using an external source such as a public accounting firm. CPA or CMA suggested.
• Government
  • Careers may include law enforcement or forensic accounting with the FBI, CIA, or NSC. Local and state governments also have accounting positions.
• Not for Profit
  • Not for profit organizations have a particular set of accounting rules and regulations that they must follow in addition to GAAP rules.

To enhance employability in accounting fields, students and professionals should focus on developing the following key skills:

1. Technical Proficiency: Mastery of accounting software (e.g., QuickBooks, SAP, Excel) and an understanding of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
2. Analytical Skills: Ability to analyze financial data, identify trends, and provide actionable insights to support business decisions.
3. Attention to Detail: Precision is critical in accounting, as errors can lead to significant financial and legal consequences.
4. Communication Skills: Strong written and verbal communication abilities to clearly present financial information to non-financial stakeholders.
5. Problem-Solving: Being able to identify issues, think critically, and propose solutions in complex financial situations.
6. Time Management: Effectively managing multiple tasks and deadlines, especially during busy periods like tax season or fiscal year-end.
7. Ethical Judgment: A strong understanding of ethical standards and the ability to apply them in all areas of financial reporting and decision-making.
8. Adaptability: Ability to stay current with changes in accounting regulations, technology, and industry practices.
9. Teamwork and Collaboration: Working effectively in teams, as accounting often involves collaboration with other departments such as finance, management, and auditing.
10. Professional Certification: Earning credentials like Certified Public Accountant (CPA) or Certified Management Accountant (CMA) can greatly enhance job prospects and credibility in the field.

Accounting Job Boards:

Accounting Jobs Today

American Accounting Association

Illinois CPA Society

Accounting General resources:

Accounting.com: Designed to be an exploration resource for students interested in a career in accounting.

Discover Accounting: Includes resources to learn more about accreditation requirements and professional development resources for accountants.

MyPlan: Website to help you explore career path options and bring clarity and insight into figuring out what’s the right path for you.