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Because almost every professional business and organization needs individuals to manage their financial accounts, individuals interested in becoming public accountants will often find that there are a plethora of career opportunities associated with this sector. However, determining whether you want to pursue a career in this sector is contingent upon answering an important question: “What is a public accountant?”
Individuals who are interested in learning more about what public accountants do and other questions pertaining to this sector of accounting will find the information found below helpful.
Public Accountants-A Brief Overview
Public accountants are individuals who work as advisors and external consultants for corporations, small businesses, government entities, non-profit organizations, or individuals. The roles of public accountants differ from that of private accountants given that members of the former group are not paid by the client, but rather earn income through advisory or consulting fees. Moreover, public accountants are supposed to maintain an entirely objective approach to the work they complete.
There are a variety of duties that a public accountant can be responsible for completing, including preparing earnings statements, auditing financial records, helping clients solve their accounting problems, and completing cost accounting reports. Once they have obtained sufficient experience, the public accountant might also be responsible for supervising or directing work completed by the support staff. Additionally, meeting with coworkers and clients is generally an integral component of the public accountant’s roles and responsibilities.
Educational Requirements for Public Accountants
Generally, public accountants earn a bachelor’s degree in order to work within their field. Earning the degree in accounting is considered optimal, but aspiring public accountants can also opt to attain a degree in a related subject area like economics or business. Additionally, the majority of public accountants will go on to attain a master’s degree in business administration or accounting. Upon earning a master’s degree, public accountants become eligible to take the uniform CPA exam in the majority of states. This is important given that earning the professional CPA designation is considered a requirement in order for public accountants to work at the best firms.
Career Options and Salary Potential for Public Accountants
Individuals who opt to become public accountants will have a wide variety of career options. First, public accountants can work for both well-known and small public accounting firms all over the country. Additionally, public accountants can be self-employed. Public accountants can also work for government agencies, given that these agencies are dependent on public accounting firms for the performance of auditing tasks.
According to Indeed.com, public accountants can expect to earn about $71,000 annually. However, this annual income is subject to change based on several factors, including job location, experience, and level of expertise.
Individuals who want to become public accountants should note that pursuing a career in this sector can be rewarding and fun. Now that you have a basic understanding of what public accountants do as well as how to become one, you can determine whether this vocational path would be the right one for you to pursue.
