Accountants


Overview

Introduction

Accountants compile, analyze, verify, and prepare financial records, including profit and loss statements, balance sheets, cost studies, and tax reports. Accountants may specialize in areas such as auditing, tax work, assurance, consulting, cost accounting, budgeting and control, or information technology systems and procedures. Accountants also may specialize in a particular business or field; for example, agricultural accountants specialize in drawing up and analyzing financial statements for farmers and for farm equipmen...

Quick Facts


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Median Salary

$71,550

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Employment Prospects

Good

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Minimum Education Level

Bachelor's Degree


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Experience

Internship


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Skills

Business Management


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Personality Traits

Conventional

Earnings

According to PayScale.com, accountants earned an average salary of $51,464 in October 2020. Salaries ranged from $40,000 to $71,000 or more. Accountants and auditors had median annual earnings of $71,550 in May 2019, according to the U.S. Department of Labor (DOL). The lowest paid 10 percent earned less than $44,480, and the highest paid 10 percent earned more than $124,450. The DOL reports the...

Work Environment

Many accountants work standard 40-hour workweeks. Some accountants work more than 40 hours a week. Technology is increasingly allowing accountants to work anywhere and anytime—as long as they have a computing device (computer, smartphone, tablet, laptop) and an Internet connection. This development is allowing much more flexibility in regard to work schedules and work locations, and many accoun...

Outlook

Employment of accountants and auditors is expected to grow by 4 percent, about as fast as the average for all occupations, through 2029, according to the U.S. Department of Labor. In 2020, the coronavirus pandemic affected many industries and has slowed down the economy. Most accounting businesses have been able to continue their work remotely, and according to a survey by AccountingToday.com, ...

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