Accountants and Auditors
Overview
SaveJob Zone Four: Considerable Preparation Needed
Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
Examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. Install or advise on systems of recording costs or other financial and budgetary data.
Yearly Salary
| High: | $128K |
| Median: | $73K |
| Low: | $45K |
Demand
Core Tasks
- Prepare detailed reports on audit findings.
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
- Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
- Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
- Supervise auditing of establishments, and determine scope of investigation required.
- Confer with company officials about financial and regulatory matters.
- Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
- Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.
- Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
- Prepare adjusting journal entries.
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Review accounts for discrepancies and reconcile differences.
- Review taxpayer accounts, and conduct audits on-site, by correspondence, or by summoning taxpayer to office.
- Advise clients in areas such as compensation, employee health care benefits, the design of accounting or data processing systems, or long-range tax or estate plans.
- Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.
- Establish tables of accounts and assign entries to proper accounts.
- Examine inventory to verify journal and ledger entries.
- Analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice.
- Report to management regarding the finances of establishment.
- Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
- Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
- Direct activities of personnel engaged in filing, recording, compiling, and transmitting financial records.
- Conduct pre-implementation audits to determine if systems and programs under development will work as planned.
- Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.
- Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Economics and Accounting
93%
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
English Language
80%
Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
Mathematics
79%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administration and Management
71%
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Customer and Personal Service
71%
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Law and Government
67%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Administrative
62%
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Computers and Electronics
61%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Personnel and Human Resources
53%
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Education and Training
51%
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Top 10 Skills
Reading Comprehension
78%
Understanding written sentences and paragraphs in work-related documents.
Active Listening
75%
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Critical Thinking
75%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Speaking
75%
Talking to others to convey information effectively.
Judgment and Decision Making
70%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Writing
70%
Communicating effectively in writing as appropriate for the needs of the audience.
Complex Problem Solving
68%
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Monitoring
68%
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Coordination
65%
Adjusting actions in relation to others' actions.
Mathematics
65%
Using mathematics to solve problems.
Top 10 Abilities
Oral Comprehension
80%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
78%
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
78%
The ability to read and understand information and ideas presented in writing.
Deductive Reasoning
75%
The ability to apply general rules to specific problems to produce answers that make sense.
Inductive Reasoning
75%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Near Vision
75%
The ability to see details at close range (within a few feet of the observer).
Problem Sensitivity
75%
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
Written Expression
75%
The ability to communicate information and ideas in writing so others will understand.
Information Ordering
73%
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
Mathematical Reasoning
68%
The ability to choose the right mathematical methods or formulas to solve a problem.
Top 10 Work Activities
Getting Information
90%
Observing, receiving, and otherwise obtaining information from all relevant sources.
Communicating with Supervisors, Peers, or Subordinates
89%
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Working with Computers
89%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Evaluating Information to Determine Compliance with Standards
88%
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Documenting/Recording Information
86%
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Making Decisions and Solving Problems
84%
Analyzing information and evaluating results to choose the best solution and solve problems.
Organizing, Planning, and Prioritizing Work
84%
Developing specific goals and plans to prioritize, organize, and accomplish your work.
Processing Information
84%
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Analyzing Data or Information
83%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Establishing and Maintaining Interpersonal Relationships
83%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Detailed Work Activities
- Prepare financial documents, reports, or budgets.
- Report information to managers or other personnel.
- Advise others on business or operational matters.
- Advise others on financial matters.
- Collect evidence for legal proceedings.
- Investigate legal issues.
- Examine financial records.
- Oversee business processes.
- Discuss business strategies, practices, or policies with managers.
- Examine financial records or processes.
- Verify accuracy of records.
- Analyze business or financial data.
- Analyze financial information.
- Prepare financial documents.
- Conduct financial or regulatory audits.
- Develop business or financial information systems.
- Assess financial status of clients.
- Evaluate effectiveness of personnel policies or practices.
- Verify accuracy of financial information.
- Calculate tax information.
- Advise others on human resources topics.
- Coordinate regulatory documentation activities.
- Analyze budgetary or accounting data.
- Prepare operational budgets.
- Pay charges, fees, or taxes.
Interests
Conventional
100%
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
Enterprising
56%
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Investigative
51%
Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
Social
31%
Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.
Realistic
17%
Work involves designing, building, or repairing of equipment, materials, or structures, engaging in physical activity, or working outdoors. Realistic occupations are often associated with engineering, mechanics and electronics, construction, woodworking, transportation, machine operation, agriculture, animal services, physical or manual labor, athletics, or protective services.
Artistic
16%
Work involves creating original visual artwork, performances, written works, food, or music for a variety of media, or applying artistic principles to the design of various objects and materials. Artistic occupations are often associated with visual arts, applied arts and design, performing arts, music, creative writing, media, or culinary art.
Work Values
Achievement
72%
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Independence
72%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Recognition
67%
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Relationships
67%
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support
67%
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Working Conditions
65%
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Majors
Colleges
SAGE Scholars Member Schools that offer majors leading to this career.
Check out the College Search to see the full list of schools with majors for this career.