As you can see, there are many career paths you may pursue with an accounting degree. Let’s take a closer look at some specific career paths.
Certified Public Accountant (CPA)
A career as a CPA is a common choice for those who study accounting.7 These professionals work with individuals and companies, providing financial planning and tax guidance. They may work on major corporate mergers and acquisitions, as well as individual tax returns.
It is even possible to become an entrepreneur as a CPA. You may one day decide to open an accounting firm.
The job duties of a CPA will typically include:
- Checking financial statements for accuracy and legal compliance
- Preparing tax returns, calculating tax liabilities and ensuring timely payment
- Organizing and updating financial records
- Evaluating financial operations and identifying methods for boosting profits while reducing costs
It is important to note that not all accountants are CPAs. A CPA is an accountant who has passed the challenging CPA Exam.2
Insurance Underwriter
Students who are studying accounting might want to consider a career as an insurance underwriter.8 As the title suggests, these professionals work within the insurance industry. Their primary job function is to evaluate insurance applications and decide whether to offer insurance coverage.
Their specific tasks may include reviewing insurance applications and analyzing information; assessing the degree of risk involved with providing insurance and making recommendations on whether to insure the applicant; and establishing recommended amounts of coverage and insurance premiums.
Insurance underwriters use complex software to assess applications and make coverage determinations. Some applications, such as those for car insurance, are relatively straightforward. Others are complex, such as workers’ compensation applications. In all cases, insurance underwriters must carefully consider the degree of risk involved.
Market Research Analyst
If you see yourself in a corporate environment someday, you might consider pursuing a career as a market research analyst. The main responsibility of these professionals is to evaluate the marketability of a new product or service. Competencies in accounting can be helpful for this career.9
Market research analysts accomplish this by analyzing datasets and by monitoring and predicting sales trends. Although they work in the marketing and advertising field, these professionals primarily work with data — they are not copywriters.
The typical job responsibilities of a market research analyst can include the following:
- Developing and implementing data collection methods
- Using statistical software to analyze the data and converting the findings into easily understood charts, tables and graphs
- Preparing reports on their findings and discussing them with executives or clients
- Evaluating the impact of implemented marketing strategies