Wednesday, May 12, 2010

Life-Time Opportunities in Accounting

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Accountants find employment in private companies, government agencies, and as private practitioners preparing income tax returns, as well as financial advisors.
A bachelor’s degree in accounting or in a related field (economics, finance, or management) opens the door to entry-level jobs in accounting, allowing beginning accountants (with an average annual salary of $48,993) to gain experience.

Major Fields for Accountants:

Public accounting. For this field, accounting majors are required to fulfill course requirements as listed by the State. Most 4-year colleges will fulfill those requirements as part of their major. To become a Certified Public Accountant (CPA) requires passing four separate exams and auditing experience of 2 years. Accountants wishing the CPA certification will find entry-level jobs in large auditing firms, where the hiring salary range is $50-70K.

Government accounting. All levels of government (townships, counties, cities, state, and the Federal government) hire accountants. The FBI, the SEC, and the IRS are sure employers of accountants, where many make life-time careers.

Forensic Accounting
This is a highly specialized field of accounting. After gaining experience in general accounting, some professionals take courses in forensic accounting (John Jay College or ITT) and establish a practice in accounting and criminal justice. Given the number of frauds uncovered during bad times, forensic accountant are in great demand. Once established the practice can become quite lucrative.

But those who beyond a bachelors degree and earn master’s degree in accounting or a master’s degree in business administration (MBA) reach to top level executive positions as corporate controllers, or treasurers. Annual salaries range from $100K to $200K, not counting stock option, bonuses, and other perks.
Ch1 Accounting in Action

Ch2 Recording Process

Ch3 Adjusting the Accounts

Ch4 Completing the Accounting Cycle

Ch5 Merchandising Operations

Ch6 Inventories

Ch7 Accounting Information Systems

Ch8 Internal Control and Cash

Ch9 Accounting for Receivables

Ch10 PP&E, Natural Resources, and Intangible Assets

Ch11 Current Liabilities and Payroll

Ch12 Partnerships

Ch13 Corporations

Ch14 Corporations:Dividends, RE

Ch15 Long Term Liabilities

Ch16 Investment

Accounting Opportunities

If you are interested in seeing how I achieved personal success in the United States, you may find my book of short stories East of Tiffany's interesting. Some of the stories are based on my life as an executive, investment banker, and financial adviser to wealthy investors in the East Side of Manhattan.
Close to half-million people have read East of Tiffany's so far. Order your copy from either or Barnes and Noble.
Since English is my second language, Mary Duffy --a master of the English language-- aided me not only with the editing, but she also contributed her own stories. I love her writing in "When You Wish Upon a Star." This is a story based on a personal friend's life.

Ch17 Statement of Cash Flows

Ch18 Financial Statement Analysis

Plato and Accounting

Price/Earnings Ratio

Plant Assets

Luca Pacioli and DaVinci

The secrets of 'no-doze' prose:
Mary Duffy's Sentence Openers

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