There are a variety of career options in the field of accounting, ranging from bookkeeping at entry level up to be Chief Financial Officer for a firm. To get positions that have more accountability and better pay you must have an accounting degree and also attain various professional qualifications.
One of the major goals for any accountant is to become a Certified Public Accountant or CPA. To be a CPA you must complete a college degree with a degree in accounting. Additionally, you must be able to pass the national CPA examination. Additionally, you must have experience as an employee needed in the CPA firm. It’s typically about one to two years however, this can vary between states. If you meet all the requirements, you’ll be issued the certificate that certifies you as CPA CPA and permits you to provide your services to the general public.
Many CPAs believe that this is just one way to advance their careers. The accountant who is the chief in most offices is known as the controller. The controller is responsible for ensuring the accounting system within a business. The controller keeps up-to-date with the tax and accounting regulations to ensure that the company is legal and accountable for the preparation of accounting statements for the company’s financials.
Controllers are also accountable for budgeting and financial planning. There are some companies with just one accountant who is the chief cook as well as a bottle washer and is responsible for everything. When a company grows in both size and complexity it is necessary to add layers of employees required to manage the volume of work that is a result of the expansion. Other parts of the business are also affected by the growth. It’s the responsibility of the controller to figure out how much more salary the company can pay new employees without impacting growth or earnings.
The controller is also accountable for preparing tax returns for businesses which is a more complicated task than filling out personal tax forms for income tax! In larger firms, the controller may report to a vice-president of finance, who is accountable on behalf of the chief financial officer who is accountable for the overall goals to increase profit and growth as well as using the proper strategies to reach the objectives.