Is Accounting a Good Career?

Accounting is a profession where you organize and review financial information to help people and businesses manage their money effectively. But there's more to it than that.

"Accounting revolves around recording and analyzing financial data for use in a variety of ways, including operational decision-making," said Carrie Wood '19G, an accounting adjunct at Southern New Hampshire University (SNHU).

Wood is a certified public accountant (CPA), who's held positions within the corporate and nonprofit world including that of chief financial officer (CFO) and controller. She said that accounting also details a company's history and performance, telling its story through numbers.

But how do you know if accounting is the right fit for you? Understanding the skills and interests that align well with accounting can help you figure it out.

How Do You Know if Accounting is for You?

"Accounting is a good fit for you if you enjoy working with numbers, solving problems and have a good eye for detail," said Wood.

She noted that you don't need to be a math expert to do well in accounting, either. "While accounting does require some math, most of the math is fairly basic," Wood said. "So you don't have to fully understand calculus in order to be successful."

The U.S. Bureau of Labor Statistics (BLS) noted that accountants and auditors must be able to analyze, compare and interpret facts and figures. Other important qualities BLS said accountants should have, include:

• Attention to detail
• Communication skills
• Critical-thinking skills
• Organizational skills

"Many times, accounting involves a large amount of data that has to be analyzed in detail and communicated to decision-makers in a clear and concise manner," Wood said. "Those who enjoy problem-solving and contributing to business decision-making will do well within the field."

Developing these skills often begins with the right education and training.

So, What Education Do You Need to Be an Accountant?

The education level you need to become an accountant can depend on the type of accounting role you're interested in pursuing. "Many entry-level positions require at least an associate degree, but a bachelor's degree is recommended for those wanting to move up and make a career out of accounting," Wood said.

According to BLS, some employers prefer to hire applicants with a master's degree in accounting. And, if you're interested in becoming a CPA, BLS noted that you'll need to pass the exam and meet your state's other requirements.

How Hard is the CPA Exam?

The Uniform CPA Examination is a test designed to ensure only qualified individuals become licensed as U.S. Certified Public Accountants, according to the National Association of State Boards of Accountancy (NASBA).

According to the American Institute of CPAs (AICPA), the test covers many subjects, such as auditing, business, financial accounting and regulations. In order to build the necessary skills to qualify for the CPA exam, 150 credit hours of relevant education is required in most states, according to the AICPA.

You can start earning credit hours by pursuing a degree in accounting or a related field.

You're ready to take the CPA exam when you've met your state's licensure requirements, which you can find on NASBA's website. The exam is divided into three core sections, and one discipline is chosen, according to the AICPA. The three core sections are:

1. Auditing and Attestation (AUD)
2. Financial Accounting and Reporting (FAR)
3. Regulation (REG)

And the disciplines you can choose from include:

• Business Analysis and Reporting (BAR)
• Information Systems and Controls (ISC)
• Tax Compliance and Planning (TCP)

If you're looking to build some knowledge in these disciplines before sitting for the exam, SNHU offers accounting graduate certificates that align with the CPA licensure exam's discipline areas so you can engage in coursework that pairs with your interests and goals ahead of the exam.

Is a Career in Accounting Worth It?

"For those who enjoy working with numbers and solving problems, a career in accounting is definitely worth it," Wood said. She noted that there is a range of areas within accounting to explore, and that you can work across broad industries.

"Those within the field find a variety of industries and areas that accounting is involved with, including financial reporting, auditing, tax, bookkeeping, financial analysis, fraud investigations and cost management," Wood said.

BLS also listed a few examples of the types of accounting available, such as:

• Government accounting: Maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations and taxation.
  
  
• Internal and external auditing: Ensure financial records are accurate and error-free.
  
  
• Management accounting: Management accounting is also known as cost, corporate, industrial, managerial or private accounting. You can prepare budgets and evaluate performance while helping organizations plan business costs.
  
  
• Public accounting: A broad range of accounting that works with financial documents that clients legally must disclose, such as tax forms and financial statements that corporations provide to current and potential investors.

If these roles are appealing to you, BLS reported that jobs in the accounting and auditing field are expected to grow by 6% from 2023 to 2033, which is faster than the average for all occupations.*

"Pay within the field is (also) competitive," said Wood.* For example, in 2024, accountants and auditors earned a median wage of $81,680, according to BLS data.*

Accounting knowledge, skills and experience are transferrable across broad industries, too.

"All businesses need accountants to record, track and analyze their financial data, along with preparing financial statements and other reports," Wood said. "Many individuals (also) rely on accountants to prepare their tax returns and provide guidance on financial planning and investments."

Understanding what opportunities may be possible can help you decide if accounting is the right path for you.

*Cited job growth projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Actual salaries and/or earning potential may be the result of a combination of factors including, but not limited to: years of experience, industry of employment, geographic location, and worker skill.

Nicholas Patterson ’22 is a writer and alumnus of Southern New Hampshire University (SNHU), where he earned his bachelor’s degree in English and creative writing. He is currently honing his craft further as he pursues an MFA in Creative Writing from SNHU. Connect with him on LinkedIn.