11 Advantages of Being an Accountant

By Indeed Editorial Team

Updated August 16, 2022 | Published February 8, 2021

Updated August 16, 2022

Published February 8, 2021

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

Related: A Day in the Life of an Accountant

In this video, we follow Ektaa, a tax accountant working for a family-owned accounting firm, as she shares the skills and education needed to be a successful accountant.

Accountant positions are in-demand jobs that offer a number of benefits to those who pursue this career path. A few of the many advantages of being an accountant include the opportunity to work in different industries, job security and the ability to branch out and open your own accounting firm or business.

In this article, we explore what an accountant is and 11 of the top advantages of this career choice.

What is an accountant?

An accountant is a financial professional who examines and prepares financial records for companies and individuals. Accountants work with various financial statements and numbers to create financial records and determine the financial health of a company or person.

Common duties of an accountant include:

  • Working with external and internal auditors to complete audits

  • Prepare and review revenue, payroll, expenses and budgets for companies and individuals

  • Create profit and loss statements

  • Analyze financial data such as expenditure and revenue trends to recommend budgets

  • Prepare account entries including general ledger account entries

  • Establish and implement accounting control procedures

  • Maintain financial databases

  • Recommend computer software systems and filing systems

Read more: Learn About Being an Accountant

11 advantages of being an accountant

The following are the top advantages of a career as an accountant:

1. Many career options

There are several different accounting careers that an accountant can pursue. This diverse field of work includes several job titles that extend far beyond the basic accountant title that most people are familiar with. Other types of accountants include:

  • Staff accountants

  • Investment accountants

  • Certified public accountants

  • Cost accountants

  • Forensic accountants

  • Management accountants

  • Project accountants

  • Auditors

  • Financial consultants

  • Financial advisors

Related: 16 Accounting Jobs That Pay Well

2. Opportunity to work in different industries

Being an accountant means having the opportunity to work in a variety of different environments and industries. Nearly every company needs an accountant, whether they be in the technology or farming industry. Accountants have the flexibility to choose the industry in which they want to specialize. Some accountants even work in several different industries at once.

3. Different specializations

Accountants also have the opportunity to specialize in specific areas of accounting. Common areas of specialization for accountants include bookkeeping, taxes, payroll services and consulting. Accountants can also choose to specialize in a particular industry or field, such as manufacturing, finance, government, management or insurance.

4. Great income

Accountants make a good income and the pay range for these professionals is often competitive. The average national salary for accountants working in the United States is $54,611 per year. This number is based on 10,600 salaries reported to Indeed as of January 26, 2021.

Several factors affect an accountant's income. These factors include their place of employment, years of experience and where they work geographically. For example, accountants who work for the Department of Homeland Security make on average $102,872 per year. Accountants who work in Denver, CO, make $66,049 on average each year.

5. Good job security

Every organization and business needs an account to oversee its finances, so accounting positions are constantly in-demand in nearly every industry. The demand for accountants is very consistent and offers great career longevity and job security for these professionals. According to the Bureau of Labor Statistics, the job demand for accountants and auditors is expected to grow by 7% between 2020 and 2030, which is on par with most other occupations in the United States.

6. Travel

Some accountants have the opportunity to travel as a regular part of their job. For example, an accountant may have clients in various cities and must travel to work with each client. Traveling is typically up to the individual accountant, so if the thought of regular travel doesn't seem like an advantage to you, you can always choose to not travel as part of your work.

7. Solid job availability

There is always a need for accountants, which means there are always available accounting jobs. A few of the most in-demand accounting positions include staff accountant, auditor, financial analyst, bookkeeper and controller.

8. A better understanding of finances

Accountants have the understanding of finances that most people pay them for. This understanding can come in handy in a variety of situations, such as when choosing what stock to invest in or when filing your annual taxes. Plus, the skills that accountants possess are often transferable to other job professions should you decide to change your career in the future.

9. Ability to open your own business

Accountants who possess their Certified Public Accountant (CPA) license can open their own businesses. This gives accountants the opportunity to pursue a more entrepreneurial approach to their career and explore various different options within the accounting industry. Most accountants who open their own businesses do so after gaining several years of experience in the field.

Related: Guide to Becoming a Certified Public Accountant

10. Opportunity for advancement

There are several opportunities for advancement within the accounting profession. Once an accountant has gained experience, they can seek other jobs in the financial industry. Common opportunities that accountants seek after working as an accountant include jobs as a personal financial advisor, forensic accountant and actuary.

11. Prestige

Many accountants enjoy respectable careers that provide them with relevant skills that can be utilized in a variety of professions and industries. Businesses and organizations often hold accountants in high regard, thanks to these professionals' core values and skill set.

Tips to maximize the advantages of being an accountant

The following are a few tips to keep in mind to maximize the benefits of a career as an accountant:

  • Remain curious: Your education and training shouldn't end when you graduate from college and get an accounting role. Make an effort to continue to learn and grow within your field to stay on top of the latest financial trends. The more knowledge you have, the more equipped you'll be when offered advancements or new opportunities.

  • Follow a career path that works for you: Not every accountant has to follow a more traditional career path. If you want to focus on a specific field or industry, do so. You can even open your own business sooner than more traditional accounting professionals would suggest.

  • Find a job that offers advancement opportunities: A great way to ensure advancement within your accounting career is to work for a company that has a clear career ladder you can climb. If you're unsure of the advancement opportunities in your organization, speak with your manager or supervisor to determine what's available to you.

Jobs for accountants

If you're interested in becoming an accountant, there are several professions to consider. Here's a list of 10 jobs for accountants:

1. Bookkeeper

2. Accounts payable specialist

3. Investments operations analyst

4. Staff accountant

5. Financial analyst

6. Tax manager

7. Accounting manager

8. Cost accountant

9. Chief financial officer

10. Finance director

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