A Research and a recommendation on Career Advice to Potential Clients

            For students looking forward to make considerations on career options choosing a career path is one of the most important steps in life. Students can rely on their college counselors for guidance on academic experiences and career in order to avoid regrets in future. This letter is going to address and provide findings on career outlook in business and finance as one of the occupations listed in the occupation outlook handbook and we are going to specifically look at accounting and auditing profession.

            Job opportunities in business and financial operations are being projected with a growth rate of about 11% from 2014 to 2024. It is rated with the fastest rate compared to other occupations that is; adding around 632,400 new jobs (Bureau of labor statistics, n.p). A stronger environment is driving a need for more accountants and auditors to help in preparation and examining financial documents. The projected annual wage in business and financial occupations was $66,500 in the month of May 2016 and it was the highest annual wage compared to other occupations (Rupert & Kern, 4). The work of the accountants and the auditors is preparation and examination of financial records. They make sure that financial records are accurate, up-to-date and proper payment of taxes by following particular regulatory standards. They make assessments of financial operations so as to ensure efficient operation of the organization. Accountants prepare the following books; income statement, balance sheet and further than this, accountants perform other duties such as bookkeeping, taking track of revenues and expenses, they forecast future profits and cash flows (Occupational Outlook Handbook, 3). An accountant can be permanently employed by the company or even work for a third party hired to perform accounting duties for a company.

            On the other side, auditors come after accountants to verify the work done by the accountants. They inspect the financial statements to ensure that they represent the exact financial position of the company. Auditors make sure that the financial statements as released annually are presented in line the “Generally Accepted Accounting Principles”. This occupation requires at least a bachelor’s degree in order to be in an auspicious position that can make on successful in the labor market (Rupert & Kern, 3). The salary for new accountants and auditors is wide depending on level of education, size of the employer, or the geographic area. In 2015 the salary benchmarks were set by the big four firms and the range was between $ 40,000 and $ 68,000 Occupational (Outlook Handbook, 2009, 3). Thus, for firms that are planning to recruit more accountants and auditors, you must know it that their salary is also being projected to have a higher rise compared to other professions nevertheless, it is negotiable.

            To advise the students, accounting is not just a mere job but a profession that has even emerged the fastest growing. This growth is ongoing because as the economy experiences more growth many employees will be needed. Careers in accounting are open to both women and men of every background. This profession offers good income potential and stability that students may admire to have. One of the most necessary skills is that accountants and auditors have to be good with numbers (Rupert & Kern, 4). Implying it does not only rely on the working knowledge of multidimensional calculus but professionals in this field also need to be quick with quantitative analysis. Those who can get confused easily and make constant while working with numbers can find the career frustrating. Accounting profession even nonetheless has a number of job roles that one can specialize in most especially done in big firms, however, in small firms an accountant may perform all accounting tasks. We have bookkeeping accountants and auditors who are specialized in producing records for the company. Budget analysts help in preparing budget reports and monitor the spending of funds in an organization. Cost estimators on the other hand analyze the manufacturing of a product by evaluating the cost of the things required in the production. We also have financial analysts, management analysts, financial managers, and many others (Scarpati & Johnson, 14). Therefore, students may specialize in those jobs. Also, a few universities offer specialized programs for accounting and auditing. Students may also seek for more guidance from their specific counselors who may help to prepare them for careers in the profession. Therefore, for any student in this career, it is important that you meet the standards required by the college more so you must have achieved above the minimum grade.

Work cited

Readings:  Lesikar’s Chapter 11, pages 349 – 362  Sample letter Report, pages 360 – 361    Lesikar’s Appendix B, pages 608 – 611 

Bureau of labor statistics. (n.p)http://www.bls.gov/ooh/2

Scarpati, S. & Johnson, P. educationTeaching andAdvising a New

Generation ofAccounting Students.(2012)

Rupert, Timothy J, and Beth B. Kern. Advances in Accounting Education: Teaching and Curriculum Innovations. , 2017. Print.

Occupational Outlook Handbook, 2009. New York: Skyhorse Publishing, 2008. Print.