Written by 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.
Accreditation comes from the Accreditation Council for Accountancy and Taxation. To obtain that designation, the candidate must pass the eight-hour Comprehensive Examination for Accreditation in Accounting which tests proficiency in financial accounting, reporting, statement preparation, taxation, business consulting services, business law, and ethics. The candidate must also have a minimum of three years experience in the field, although the Council is willing to swap two years of education, either online or on campus, for two of those 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.
Another launching platform for young business accountants is the Federal government. The starting annual salary for junior accountants was $28,862 in 2007, although candidates who had a superior academic record might go up to $35,752. Applicants with a master’s degree or two years of professional experience usually begin at $43,731. Beginning salaries are slightly higher in selected geographic areas where the prevailing local pay level was higher. Nonsupervisory, supervisory, and managerial positions in accounting averaged $78,665 a year in 2007, with auditors averaging $83,322, under Federal government employment.
High-level senior accountants may receive additional benefits, such as a company car and an expense account. Wage and salary accountants usually receive standard benefits, including health/medical insurance, life insurance, a 401(k) plan, and paid annual leave.
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.
Whatever a young business accountant decides, demand for accountants of all stripes appears to be unending. You can get your degree programs online while working to get the experience this field demands. There are many positions possible, from working with small companies to Fortune 500, with all needing their distance learning accounting degree to advance. If you find this information interesting and think you may want to pursue a career in accounting, there is always more information about your accredited distance learning degree on the internet.
