So You Want to be an Accountant? Consider These 5 Things First

Accounting isn't the most exciting career choice, but it is a steady job where there is ample jobs. Are you considering a career as an accountant? Here are a few tips that you may want to deliberate before joining the ranks of other certified public accountants.

So You Want to be an Accountant? Consider These 5 Things First

To graduate with a bachelor’s degree takes between 120-130 credit hours. However, to take the CPA examination, you need to have 150 credit hours. You will need to take some more classes beyond your undergraduate studies to meet these requirements, but you don't need a master's degree.

The accounting career requirements are pretty strenuous. Taking a few extra classes during your initial degree can ensure you don’t have to return to school for an extra term. Since each state has different laws, you need to make sure that you are well versed in what is asked of you.

2. Understand That Not All Accounting Jobs Are Created Equal

 You must understand all about the accounting world to be able to fully comprehend
what you are getting into. First, most people get into this career field because they like numbers. All aspects of accounting deals with numbers. However, you can take your path several different ways. A tax accountant handles the IRS and dealing with their mandates. An assurance account representative will handle auditing. Lastly, a consulting accountant will help companies make decisions on their financial records. You must decide the path that is right for you.

3. Will You Work For A Firm or Be A Sole Practitioner?

If you want to work for a big firm with several CPAs, then you need to prepare
yourself to be competitive in that market. A sole practitioner is totally different. It’s about as different as Coke and Pepsi. Sure, you're both accountants, but those who work for a big corporation will have different demands than someone who works for themselves.  Private accounting can be very difficult, and you will have to negate through the legalities on your own. Many prefer to start out with a company and other CPAs initially, then they can move to their own practice later.

4. Don't Delay Taking Your CPA Examination

If you talk to most Certified Public Accountants, you will find out that the CPA examination is brutal. The test is now computerized. This brings benefits and challenges. Unlike the old days when you had to take the whole test at once, now you take it by sections. Without a passing grade on this test, an accounting career is not possible. Take your time and study before taking this examination. You should not take the test unless you are totally ready.

5. Being A Numbers Person Can Be Overwhelming

Basically, your job will consist of closing the books every month - booking journal entries, reconciling accounts and doing other things as they come up. It is not exciting, but it will pay the bills. Unless you go into a specific field, like forensic accounting, you will know exactly what an average day will look like.

Whether you want to be an account representative for a big corporation or work in a private accounting firm makes no difference, you can count on the numbers game being a consistent gig.

William Doonan is a tax law and legal expert in New York.