A degree may open the door to a variety of opportunities and diverse career paths. The degree programs offered at AIU will not necessarily lead to the featured careers. This collection of articles is intended to help inform and guide you through the process of determining which level of degree and types of certifications align with your desired career path.
Accounting is a broad and complex field, and thanks to advanced calculation software, many of today's accountants are taking more significant and complicated roles within businesses and institutions. From more general public accounting to forensic accounting and internal auditing positions, there are many types of accounting careers. While all of these jobs for accounting majors still require a detail-oriented, analytic mindset and strong math and financial skills, there are some important differences to consider before deciding which of the various accounting careers may be right for you.
Below is a list of accounting careers that covers some of the major types of accounting positions that may be available for accounting majors, the primary skill sets and responsibilities involved in each type of accounting job, and what types of accounting degrees and certifications you may need depending on the type of accounting career you choose to pursue. This list may also prove helpful for anyone trying to decide between accounting and finance degrees, or who may be considering pursuing an accounting degree online.
Sometimes called "corporate accountants," management accounting involves working with a company's financial records to ensure proper ongoing operations. This field of accounting is an internal position, and the role typically includes managing payroll and other financial assets, in addition to sometimes assisting to set budgets and performing cost analyses to help determine profitability. Management accountants must keep careful records of accounts payable and receivable, as well as monitor all incoming and outgoing transactions. Some management accountants may work with financial managers in planning and selecting stocks, bonds, and real estate as part of their asset-management responsibilities.1,2
Degrees and Certifications
Though some might think of accounting and finance degrees as interchangeable, typically, a BA in accounting is the preferred degree for management accountants, although students may opt for a concentration in business as well. Those with a bachelor's degree and at least two years of management accounting or financial management experience can apply for certification from the Institute of Management Accountants (IMA) to become a certified management accountants (CMA).Earning an online accounting degree could be the first step to pursuing this popular accounting career path.
Public accounting may be one of the more familiar types of accounting jobs on this list. Where management accountants work internally monitoring the long-term health of a company, public accountants typically work with a number of clients on private financial matters. This can include working as part of a larger accounting firm or starting one's own private practice, and while some public accountants specialize in representing businesses, others work primarily with individuals. Much of a public accountant's work involves preparing legally-required financial documents (such as those completed during an audit or when filing taxes) and staying updated on the latest financial and tax laws—however, in some cases, one may offer financial consulting and other services.2
Degrees and Certifications
Like management accountants, public accountants need a bachelor's degree in accounting or a closely related field. Many choose to pursue licensure as a certified public accountant (CPA) after two or more years of work experience. Doing so can open up additional employment opportunities for this type of accounting job and is required for any position that involves filing documents with the Securities and Exchange Commission (SEC). Becoming a CPA requires both passing the four-part Uniform CPA Examination administered by the AICPA, and then applying for a license from the appropriate state's Board of Accountancy.2
Internal auditors are accountants who work within a company or organization to help monitor efficiency and recommend changes when necessary. Because an auditor's role is primarily to assess a company's financial health and find possible opportunities for improvement or concern, they don't deal with logging data and maintaining records in the same way those in other fields of accounting, such as management accountants, do. Instead, internal auditors review these financial records and any other available data, identify risks that could prevent the company from attaining its goals, and then communicate their findings and make recommendations to reduce risk to upper management. They may also be tasked with a more specific set of responsibilities, like reviewing documents for regulatory compliance or conducting a risk assessment.3
Degrees and Certifications
While some colleges and universities may offer different types of accounting degrees such as a specialized degree in internal auditing, it's also possible to pursue this accounting career path with a BA in accounting.2 The Institute of Internal Auditors (IIA) offers a Certified Internal Auditor (CIA) designation for those who complete their three-part exam. The IIA also offers four specialty certifications for those who do not yet qualify to take the CIA exam.4
Accounting careers in forensic accounting involve investigating financial records and other available accounting data after a crime has taken place. Forensic accountants work to piece together what exactly happened and how a crime—such as fraud, theft, or embezzlement—may have been carried out. Because of their more investigative role, they must be able to clearly and accurately reconstruct financial records that have been falsified or tampered with, as well as help authorities with any cases or legal proceedings relating to the crime.5
Degrees and Certifications
Like the other jobs featured on this list of accounting careers, a bachelor’s degree is required to become a forensic accountant. Few programs offer degrees specifically in forensic accounting, but coursework or a concentration in criminal justice can be beneficial. There are also a number of relevant certifications available for those seeking accounting careers as forensic accountants, depending on the specific area of focus one wants to pursue. The Certified Forensic Accountant (Cr.FA) and Certified in Financial Forensics (CFF) designations are offered to existing CPAs who wish to specialize in forensic accounting, and are offered by the American Board of Forensic Accounting and the AICPA, respectively. The Association of Certified Fraud Examiners offers the CFE certification, which does not require applicants to be currently licensed CPAs, but does require at least 2 years of prior professional experience.Ready to learn more? Explore online accounting degrees at AIU.
1. Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, “Accountants and Auditors,” on the Internet at https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-2 (visited September 9, 2019).
2. Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition, "Accountants and Auditors," on the Internet at http://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm (visited April 11, 2016).
3. The Institute of Internal Auditors North America, “All in a Day’s Work,” PDF file, on the Internet at https://na.theiia.org/about-ia/PublicDocuments/All-in-a-days-work.pdf (accessed September 5, 2019).
4. The Institute of Internal Auditors, "Six Steps to Certification," on the Internet at https://na.theiia.org/certification/new/Pages/Six-Steps-to-Certification.aspx (visited April 10, 2016).,br> 5. American Board of Forensic Accounting, "Questions About Forensic Accounting," on the Internet at http://certfa.org/questions-about-certified-forensic-accounting/ (visited April 10, 2016).
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Classes Start February 26, 2020