CAREERS IN ACCOUNTING AND BUSINESS MANAGEMENT

SIGNIFICANT FACTS

Areas of specialization such as bookkeeping, accounting, and auditing clerks held more than 2 million jobs in 2004 and are employed in every industry.

Employment is projected to grow more slowly than average as the spread of office automation lifts worker productivity.

The large size and variety of this occupation ensures plentiful job openings, including many opportunities for temporary and part-time work; those who can carry out a wider range of activities will be in greater demand than specialized clerks.

NATURE OF THE WORK

Business people are prevalent in any company as full time or part time employees or as independent consultants. Their responsibilities include bookkeeping, accounting, auditing, operations scheduling, management, selling, sales analysis, marketing analysis, communications and human resources all of these positions make numerous decisions each day and increasingly must be comfortable using computers to, distribute, analyze, interpret, calculate and record data.

In smaller companies, general business personnel typically carry out a variety of functions that include a mixture of all functions. For example, bookkeeping clerks handle all financial transactions and recordkeeping. Office managers will perform general management and human resource functions and may take on the responsibility for purchasing services and office supplies. In the selling area, one may be required to do some selling along with more traditional marketing activities. In larger companies personnel are typically assigned specific or specialized tasks. Again as an example, accounting departments perform more specialized tasks such as accounts payable clerk or accounts receivable clerk, which often reflect the type of accounting they do and include accounts payable, accounts receivable, payroll, etc. Human resources handle personnel functions and sales people sell.

As with all business functions, good communication skills are becoming increasingly important.

WORKING CONDITIONS

Working conditions are very much dictated by the specific job. Operations personnel may work on the production floor or at the shipping areas. General business such as accounting, purchasing, marketing and sales works in an office environment in either cubicles or offices for management personnel. In all cases, as a result of their working with numbers, paperwork and computers, they may experience eye and muscle strain, backaches, headaches, and repetitive motion injuries. They may have to sit for extended periods while reviewing detailed data.

In most cases, this group tends to work regular business hours and a standard 40-hour week; however, some companies are moving toward flex hours and this group certainly qualifies for that program. A substantial number work just part time. Full-time and part-time personnel may work some evenings and weekends. At the end of fiscal reporting periods, including months end, quarter end, and end of fiscal year, accounting and finance employees work longer hours to meet deadlines that may be required to complete accounting activities and prepare reports. Those who work in hospitality, retail and tax preparation may work overtime during seasonal periods. All personnel in a retail environment are subject to working weekends and seasonal variations.

TRAINING, OTHER QUALIFICATIONS, AND ADVANCEMENT

Most people in business are required to have a high school degree at a minimum. However, having some college is increasingly important and an associate degree in business or accounting is required for some positions. Experience in a related job and working in an office environment also is recommended. Employers prefer workers who are computer-literate; knowledge of word processing and spreadsheet software is especially valuable.

Once hired, most employees usually receive on-the-job training. Under the guidance of a supervisor or other senior worker, new employees learn company procedures. Some formal classroom training also may be necessary, such as training in specific computer software. Bookkeeping, accounting, and auditing clerks must be careful, orderly, and detail-oriented in order to avoid making errors and to recognize errors made by others. These workers also should be discreet and trustworthy, because they frequently come in contact with confidential material. In addition, all bookkeeping, accounting, and auditing clerks should have a strong aptitude for numbers. Other departmental functions such as sales, marketing and operations may require an employee to be very organized and have time management skills.

In general, there is no requirement for certification. However, there may be advantages depending on the functional level such as human resources, bookkeeping and operations. Bookkeepers, particularly those who handle all the recordkeeping for companies, may find it beneficial to become certified. The Certified Bookkeeper designation, awarded by the American Institute of Professional Bookkeepers, assures employers that individuals have the skills and knowledge required to carry out all the bookkeeping and accounting functions up through the adjusted trial balance, including payroll functions. Most companies fill office and administrative support supervisory and managerial positions by promoting individuals from within their organizations. Personnel who acquire additional skills, experience, and training improve their advancement opportunities. With appropriate experience and education, some employees may be promoted to the managerial ranks.

EMPLOYMENT

Jobs in this area are found in all companies, all industries including state, local and federal governments along with non profit agencies.

JOB OUTLOOK

Employment of this occupation is projected to grow more slowly than average 2014. More job openings will stem from replacement needs than from job growth. Each year, numerous jobs will become available as employees transfer to other occupations, get promoted or leave the labor force. The large size of this occupation ensures plentiful job openings, including many opportunities for temporary and part-time work.

Although a growing economy, the continuing spread of office automation will lift worker productivity and contribute to the slower-than-average increase in employment. In addition, organizations of all sizes will continue to downsize and consolidate various functions, thus reducing the demand. Furthermore, some work performed by these workers will be outsourced to lower-wage foreign countries. Those who can carry out a wider range of activities will be in greater demand than specialized clerks. Demand for full-charge bookkeepers is expected to increase, because they are called upon to do much of the work of accountants, as well as perform a wider variety of financial transactions, from payroll to billing. Certified bookkeepers and those with several years of accounting or bookkeeper experience will have the best job prospects.

EARNINGS

In May 2004, the median wage and salary annual earnings were $28,570. The middle half of the occupation earned between $22,960 and $35,450. The top 10 percent more than $43,570, and the bottom 10 percent earned less than $18,580.