An Accounting Degree Online Lets You Combine Experience With Studies

It's no big secret that corporations and governmental agencies employ accountants. There are also those who help families and individuals with tax preparation, securing retirement plans and deciphering mortgages. While a Certified Public Accountant and higher can certainly do the job, they aren't always necessary. An aptitude in math and a traditional or online college degree can get you started.

For the general public, it's probably best to hire an Accredited Business Accountant. This kind of accountant specializes in the needs of small-to-mid-size businesses and in financial services to individuals and families. In states where use of the word "accountant" is not permitted by non-state licensed individuals, the practitioner may use the term Accredited Business Adviser. They are also called general accountants.

Accreditation comes from the Accreditation Council for Accountancy and Taxation. To obtain that designation, the candidate must pass the eight-hour Comprehensive Examination for Accreditation in Accounting which tests proficiency in financial accounting, reporting, statement preparation, taxation, business consulting services, business law, and ethics. The candidate must also have a minimum of three years experience in the field, although the Council is willing to swap two years of education, either online or on campus, for two of those years of experience.

According to a 2007 salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, general accountants and internal auditors with up to one year of experience earn between $31,500 and $48,250 a year. Those with 1-3 years of experience earned between $36,000 and $60,000. Senior accountants and auditors earned between $43,250 and $79,250, managers between $51,250 and $101,500, and directors of accounting and internal auditing between $68,000 and $208,000. The variation in salaries reflects differences in size of firm, location, level of education, and professional credentials.

In the Federal Government, the starting annual salary for junior accountants and auditors was $28,862 in 2007. Candidates who had a superior academic record might start at $35,752, while applicants with a master's degree or 2 years of professional experience usually begin at $43,731. Beginning salaries are slightly higher in selected geographic areas. Accountants employed by the Federal Government in nonsupervisory, supervisory, and managerial positions averaged $78,665 a year in 2007; auditors averaged $83,322.

Wage and salary accountants and auditors usually receive standard benefits, including health and medical insurance, life insurance, a 401(k) plan, and paid annual leave. High-level senior accountants may receive additional benefits, such as a company car and an expense account.

As with all forms of accounting, the best way to advance in the field is two-fold. The first is to gain experience on the job. The other is to continue one's education, both in staying on top of the field for the latest rules, regs and advances, as well as going on for a Bachelor of Science or higher as far as degrees are concerned. It's also not uncommon for accredited business accountants to go on to become Certified Public Accountants, Internal Auditors or Management Accountants.

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