How to become an accountant? Only in 3-Simple Steps

This is just the right place for maths geeks, who are willing to turn their love for numbers into a profession. ? You are going to learn a lot with me if you often fantasize about having a job that brings together your fondness of maths along with aligning finance goals.?

Let me take you through the A-Zs of accounting, where each debit and credit has a fascinating financial story to tell. ?

But first, I am sure, you would want to know how much an accountant makes, right?

The average income for an Accountant in the United States stands at $73,274. This might vary as per states and countries, and also your experience and certifications.

Pack your calculators, use your heads, and journey through the road of how to become an accountant if the notion of studying financial flows and reviewing bank accounts excites you a lot! ?

Question and Answer

You guessed it right, being an accountant isn’t easy, just like being a blogger isn’t. But from my experience, I can tell you it isn’t impossible either.

Okay, you want to clear your doubts, first? Answer these questions first, and see for yourself.

Do financial matters and working with numbers excite you?
Do you think you can communicate complex financial concepts to clients or colleagues?
Do you want to stay updated on accounting standards and regulations?
Do you think you can help individuals or businesses make informed financial decisions?
In the future, would you like to explore different accounting specializations, such as auditing, management accounting, or financial planning?
Do you have an aptitude for mathematics and numerical analysis?
Can you analyze date to solve financial challenges?

If you have replied yes to most of the questions above, I can bet that you are going to be an accountant.

Since you have taken a step forward and have landed on my blog, I am going to go all out with the accountant career advice!

Step 1: Knowledge

Who is an accountant?

An accounting professional is like a financial detective. They expertly sift through financial data for individuals, companies, and even governments, ensuring everything adds up.

Their job? Keeping records spot-on, crafting financial reports, and providing key insights on money matters. Whether it’s taxes, audits, budgets, or giving financial advice, accountants are the go-to experts.

Types of Accountants:

Let’s talk about how many variants are there in the earth ?

Public Accountants
- What they do: Offer services like auditing, tax planning, financial analysis, and advisory.
- Who they serve: Everyone! From individuals to governments.
Management Accountants
- What they do: Help businesses internally with strategy, cost analysis, and budgeting.
- Who they serve: Primarily businesses and corporations.
Tax Accountants
- What they do: Masters of the tax world. They file tax returns, ensure compliance, and find ways to reduce tax bills.
- Who they serve: Both individuals and businesses.
Financial Accountants
- What they do: Craft financial statements, ensuring accuracy for external stakeholders.
- Who they serve: External stakeholders like creditors, shareholders, and regulatory agencies.
Internal Auditors
- What they do: Review financial records, ensure compliance, and provide recommendations.
- Who they serve: Public accounting firms and businesses from within.

I hope you got the complete idea about the different hats an accountant wears ?

As Benjamin Franklin once said, ‘An investment in knowledge pays the best interest.’ Understanding these distinct accountant roles is your first step toward a rewarding career in finance.

Roles and Responsibility

To know more about the accountant! You need to peek behind the financial curtain and discover the crucial roles that shape a business’s success!

Financial Record-keeping
- What they do: Keep detailed records of every financial transaction.
- Why: To ensure accurate financial data and provide a reliable basis for analysis.
Financial Analysis
- What they do: Study financial data to spot trends and measure success.
- Why: To help businesses understand their financial health and identify areas for growth.
Tax Compliance
- What they do: Prepare tax returns and stay updated with tax rules.
- Why: To ensure clients meet tax obligations while minimizing their tax bills.
Budgeting and Forecasting
- What they do: Collaborate on creating budgets and future financial projections.
- Why: To shape financial strategies and ensure businesses hit their financial targets.
Auditing and Assurance
- What they do: Check financial data’s accuracy, either from inside the company or externally.
- Why: To maintain transparency, identify risks, and improve financial reporting.

The legend once said “Every financial responsibility ensures a business’s prosperity. It’s a harmonious dance of numbers and strategy.” ?

Expert Skill Sets to Be An Accountant

I have listed a few expert skills that you should have if you want to be an accountant-

Should be able to assess and interpre financial data.
Proper Understanding of tax laws and regulations.
Ability to analyze complex financial situations
Skill in resolving financial discrepancies and issues.
Ability to maintain ethical accounting practices and principles.
Should have strong math skills for calculations and analysis
Ensuring compliance with financial regulations.

My suggestion to you would be to take a soft skills training course to ideally understand how to be a great accountant. With the Soft Skills Training for Accountants – you will learn all the above-mentioned skills, and more!

This is a self-paced course for beginners, that you can get at $47!

How much can an accountant earn?

Several variables, including location, degree of knowledge, training, sector, and size of the employer’s company, might affect an accountant’s pay. Depending on the precise function or area of specialty within accounting, salaries may also vary.

A CPA may typically expect to make between USD 66,000 and USD 146,000 per year in the USA. While senior-level CPAs can make up to USD 146,000 per year or more, entry-level roles normally pay approximately USD 66,000 yearly.

Scope of Accountants

Did you know that there is going to be a projected growth in the employment of accountants by 4% by 2032?

The projected value of the worldwide accounting industry in 2023 stands at $675.14 billion. By the year 2027, the market will achieve a value of $795.99 billion, reflecting a substantial 17.9% increase in the coming four years.

As per my opinion, the demand for accountants will always be on the rise, because financial advice is something that people will always need.

BLS says that there can be an approximate opening of 126500 posts, over the next ten years.

Let me also take you through the top accounting firms in the US (also known as the Big 4), in 2023.

Deloitte LLP
PwC
Ernst & Young
KPMG LLP

Grabbing a position in the Big 4 will add a golden feather to your cap, I am sure!

I hope you got the complete idea about the accountant! This helps you to get a clear pitcher!

Now let’s move to the second step.

Step 2: Skill

Wanna Mapping your future in accounting? Dive into the top-notch programs the world has to offer! ?”

1. United States Accounting Programs:

a. Bachelor of Science in Accounting

Offered by:University of Texas at Austin, University of Illinois, University of Pennsylvania, University of Southern California.

You’ll learn:Core accounting principles, financial analysis, taxation, auditing, and corporate law.

Why choose this:A dedicated route to master foundational accounting skills.

b. Bachelor of Business Administration with Accounting Concentration

Offered by: University of Michigan, University of Wisconsin-Madison, University of Florida, University of Georgia.

You’ll learn:A mix of general business and specific accounting coursework.

Why choose this:Gain both business acumen and accounting specialization.

c. Master of Accountancy (MAcc)

Offered by: University of Texas at Austin, University of Illinois, University of Michigan, University of Notre Dame.

You’ll learn:Advanced accounting skills and preparation for CPA licensing.

Why choose this: Perfect for those eyeing CPA certification and deepening accounting expertise.

d. MBA with Accounting Concentration

Offered by:Harvard, Stanford, University of Pennsylvania, University of Chicago.

You’ll learn:Comprehensive business strategies intertwined with specialized accounting knowledge.

Why choose this:Ideal for those seeking leadership roles with accounting proficiency.

e. Ph.D. in Accounting

Offered by:University of Chicago, Stanford, University of Pennsylvania, University of Texas at Austin.

You’ll learn:In-depth research and academic aspects of accounting.

Why choose this:Tailored for aspiring academic researchers and educators in accounting.

2. Top Global Accounting Programs:

a. New York University (NYU)

You’ll learn:Essential accounting concepts geared towards CPA licensure and opportunities to double major.

Unique advantage:Strong business links and rigorous Stern School of Business.

b. University of Cambridge

You’ll learn:Fundamental accounting principles, financial lexicon, and analytical techniques.

Unique advantage:Renowned for academic rigor and producing highly employable graduates.

c. University of California, Berkeley (UCB)

You’ll learn: Deep-dive into technical accounting at the globally recognized Haas School of Business.

Unique advantage:Widely acknowledged by global accounting firms.

d. London School of Economics (LSE)

You’ll learn:Specialized knowledge in economics and finance.

Unique advantage:Alumni network that includes global leaders in finance and politics.

e. Stanford University

You’ll learn:Broad spectrum of accounting and financial management subjects.

Unique advantage:Located in Silicon Valley, offering a plethora of research and innovation opportunities.

Your choice depends on your career aspirations. Each program has its strengths, so consider what skills and networks you value most.

Also, remember to check additional resources and consult academic counselors at these institutions for a clearer perspective!

Free resources:

Want to dive into accounting without denting your pocket? Here’s a treasure trove of free resources just for you! ?

Khan Academy

What It Offers: Fundamental lessons on finance and capital markets, which include some accounting topics.
Website: Khan Academy

Coursera
- What It Offers: While many courses are paid, they occasionally offer free versions without a certificate. You can find a variety of courses related to accounting, finance, and business.
- Website: Coursera
edX
- What It Offers: Similar to Coursera, edX offers both free and paid courses. You can audit many courses for free, which means you can access the course materials without receiving a certification.
- Website: edX
MIT OpenCourseWare
- What It Offers: Free lecture notes, exams, and videos from MIT. They have a solid collection of undergraduate and graduate accounting courses.
- Website: MIT OpenCourseWare
AccountingCoach
- What It Offers: This platform was created to help individuals understand accounting basics for free. It provides explanations for many accounting topics.
- Website: AccountingCoach
Simple Studies
- What It Offers: Offers lessons on basic and intermediate accounting topics.
- Website: Simple Studies
YouTube
- What It Offers: There are numerous accounting educators who provide free tutorials, lessons, and walkthroughs on various accounting topics.
- Suggestion: Channels like “Accounting Stuff”, “Farhat’s Accounting Lectures”, and “NotePirate” are good starting points.

No matter what we get! Free is always better than paid in terms of investment ?

Step 3: Job

Ready to take the leap into the accounting job market? Here are top platforms to kick-start your hunt! ?️‍♂️

Accounting Jobs Today
- Overview: A niche job portal specifically for accounting jobs.
- Highlight: Filters to select jobs based on qualifications, skills, and certifications.
- Website: Accounting Jobs Today
American Accounting Association
- Overview: A reputable organization that offers an online job board for accounting professionals.
- Highlight: Specialized for those inclined towards academia or professional accounting roles.
- Website: American Accounting Association
Career Builder
- Overview: A broad-based job portal trusted by many.
- Highlight: Extensive database and easy-to-use search features.
- Website: Career Builder
Indeed
- Overview: One of the largest job boards globally with a vast collection of accounting jobs.
- Highlight: User-friendly interface, frequent updates, and easy application process.
- Website: Indeed
LinkedIn
- Overview: A professional networking site with a robust job search feature.
- Highlight: Network with professionals, follow companies of interest, and get personalized job recommendations.
- Website: LinkedIn
Robert Half
- Overview: A leading staffing agency known for its finance and accounting positions.
- Highlight: Personalized job matching based on your skills and preferences.
- Website: Robert Half
Glassdoor
- Overview: A job search platform that also offers insights into company cultures via employee reviews.
- Highlight: Research potential employers before applying or accepting offers.
- Website: Glassdoor
Accounting.com
- Overview: A platform dedicated to accounting resources, including a regularly updated job board.
- Highlight: Tailored exclusively for the accounting profession.
- Website: Accounting.com

Final Tip: Keep your CV updated, tailor your applications for each position, and regularly check these platforms for new listings. With dedication, you’re bound to land the perfect role!

In Conclusion:

Becoming a successful accountant, it’s a blend of the right education, hands-on experience, and continuous growth. Start with understanding your passion, dive into your studies, and then expand your network and skills.

In the world of accounting, every detail matters. So, equip yourself, stay updated, and you’re set for a rewarding journey in finance! ? Also, as we have already engaged, we would love to know your feedback and your thoughts!