There are a number of different specialties inside the field of accounting. This leaves many students with deciding which way to specialize. One answer is to start as an Accredited Business Accountant. A student can get an online college degree while working to get experience in the field of accounting
A Business Accountant specializes in the needs of small-to-mid-size businesses and in financial services to individuals and families. They are also called general accountants and Accredited Business Advisers. Whatever the title, these kinds of accountants can be seen everywhere, from doing income taxes to assisting in putting together business proposals for the general public.
Even so, to earn any sort of accreditation, one must get the approval of the Accreditation Council for Accountancy and Taxation. They developed the eight-hour Comprehensive Examination for Accreditation in Accounting. The test checks a graduate’s capability in financial accounting, reporting, statement preparation, taxation, business consulting services, law and ethics. He must also have a minimum of three years experience in the field. Two years of education, i.e., an Associate’s degree, either online or on campus, can fill in for those two years of experience.
From there it’s been noted that general accountants with a year’s experience earn between $31,500 and $48,250. Senior accountants earn between $43,250 and $79,250, managers between $51,250 and $101,500, and directors of accounting between $68,000 and $208,000. The disparity in salaries is due to the size of the firm, location, level of education and professional credentials the business accountant finds him or herself in.
The Federal Government also hires a large number of accountants for its various departments. The annual salary for junior accountants was $28,862 in 2007. Those who get their Masters degree first with two years pro experience begin at $43,731. Salaries are slightly higher in selected geographic areas. Accountants employed by the Federal Government in supervisory and managerial positions averaged $78,665 a year in 2007.
Wage and salary accountants and auditors usually receive standard benefits, including health and medical insurance, life insurance, a 401(k) plan, and paid annual leave. High-level senior accountants may receive additional benefits, such as a company car and an expense account.
As with all forms of accounting, the best way to advance in the field is with a two part plan. The first is to gain experience on the job. The other is to continue one’s education, both in staying on top of the field for the latest rules and regulations. Go on for a Bachelor of Science or higher as far as degrees are concerned. It’s also not uncommon for ABAs to go on to become CPAs or even Certified Internal Auditors or Management Accountants.