A Career in Accounting

Chris Dallof
Salt Lake Community College
A choice many students need to make during school is a career path. There are many
different paths to choose from. The research conducting for this essay revolves around
accounting. Accounting is sometimes seen as people sitting in an office crunching numbers all
day for their whole life (Poulk, 2016). That may seem appealing to college students, or it may
not. Per Thorne (2016) the number of people applying for jobs in the accounting field are
decreasing every year. This paper examines several different areas of accounting that may help
one choose a career path. The topics covered will include job description, general career path,
education needed, salary, outlook for accountants, and pros and cons of the profession. The
information gathered has primarily been through research online and through interviews with
Mark Thorne, CPA and Thomas Poulk, CPA.

Job description:
There are many types of accounting careers to choose from. There are internal auditors,
external auditors, public accountants, tax accountants, government accountants, and the list goes
on and on. A simple definition of an accountant is someone who prepares, keeps and examines
financial records. They are also in charge of determining if financial records are accurate, and
that taxes are paid on time. (Bureau of Labor Statistics, 2015). Although this is a true statement
of what accountants do, it is not entirely accurate. Per Poulk, accounting also has a lot to do with
building relationships with clients and learning how several different businesses run in different

A Career in Accounting

ways. The interaction with clients on the audit side is much more than I ever expected. Its not
just looking at numbers, theres a lot of interaction. Relationship building, building on your
personal skills to interact with people in the business communities. Going back to the
perception that accountants sit at a computer and crunch numbers all day, Poulk says that much
is true when it comes to the tax side of accounting.
General Education and Career Path:
Most accountants are required to have at least a bachelors degree (Bureau of Labor
Statistics, 2015). Government accounting firms and any accountant reporting to the Securities and
Exchange Commission (SEC) are required to have a CPA. However, there are some companies
that will hire accountants to do general tasks such as bookkeeping. To move up in an accounting
career, a CPA is required per Thorne (2016). You need some sort of licensewhatever you do,
if you dont get those, you kind of handcuff yourself those letters behind your name are
ridiculously important. After being licensed, usually a new CPA will be hired into a firm as a
staff accountant, or some firms may require an apprenticeship beforehand. A staff accountant may
spend 2-3 years in that position before being promoted to a positon of management over other staff
accountants.
Salary:
The average salary in general for accounting in 2014 was $65,940 (U.S. News, 2015) and
$67,190 in 2015 (Bureau of Labor Statistics). In that same year, the average median salary for
top industries is listed from highest to lowest:
1. Finance and insurance ($71,760)
2. Management of companies and enterprises ($69,560)

A Career in Accounting

3. Manufacturing ($68,020)
4. Accounting, tax preparation, bookkeeping, and payroll services ($67,440)
5. Government ($65,180)
Along with salaries, many firms offer benefits to their accountants. At small firms like Thorne
and Associates, they offer paid-time off, SIMPLE IRA plans, flexible schedules, bonuses, and
tuition reimbursement (Thorne). At a global firm like KP&G, they have similar benefits, but also
include a pension plan, 4 weeks of vacation starting (more weeks added with time), and 10 paid
holidays. After growth in the company and becoming a partner, the pension plan gets even better
as well (Poulk).
Career Outlook:
The Bureau of Labor Statistics projects the employment of accountants and auditors to
grow 11 percent from 2014 to 2024. This is due to a growing economy and more regulations
being passed. The demand for accountants will continue to grow and is tied with the overall
health of the economy. The number of accountants enrolling into firms has decreased from the
1990s. Thorne believes this is due to people moving to more technology-based jobs such as
computer technology or manufacturing. With the decrease in accountants, that increases the
demand and therefore leads to more entry-level positions. He says that the turnover rate is very
high at larger firms. He calls this accounting boot camp. The first 3-4 years of working at these
firms is not the greatest because many people dont know what theyre doing. Both Thorne and
Poulk agree that most accounting is learned at the job, and not during certification or school
which is the reason for this. After boot camp many of the people who are promoted to staff
managers leave their firms to pursue higher paying jobs with other firms or are hired by business

A Career in Accounting

to work in-house. Thorne says that the easiest way to move up as an accountant is to go through
the big firms, and continually work up until one becomes a partner.
Biographies of Professionals in Accounting:
Thomas Poulk, CPA. Managing Director of Audits, KP&G. Poulk has been with the firm
for 15 years. Prior to his time there, he had no experience with accounting and was a Pre-Med
student. He decided that he wanted to pursue a business degree and earned his CPA in the
process. His favorite part of being an accountant is meeting new clients and seeing their
businesses. He enjoys talking to CFOs and CEOs and hearing their thoughts on global and local
economies. Another aspect of his job that he loves, is having flexibility. As he has moved up, he
has had a chance to improve his work-life balance.
Mark Thorne, CPA. Partner, Thorne and Associates. A former Salt Lake Community
College student and graduate of the University of Utah, Thorne has been working in the
accounting field for 18 years. He came to work for his father to gain some experience for his
resume, but has stayed after he discovered how much he enjoyed his work. His favorite part of
the job is working with many people in many industries. He enjoys strategizing with businesses
and helping them out. His advice to young accountants is to go through a bigger firm and
specialize in something. He says to find a job in accounting now to see if its something you can
really enjoy.
Pros and Cons:
Pros: There are many benefits to becoming an accountant. The pay is generally good for
entry-level positions and eventually there are positions in accounting reaching 6 digits. The
demand for accountants is also high and is expected to grow as well. Accounting is a very broad

A Career in Accounting

term and there are many different careers to choose from. That makes it a very versatile career
choice with limitless possibility. U.S. News reports that accountants are ranked 3rd in best
business jobs. It is also high ranking when it comes to work-life balance, growth, job market, and
salary. There are good benefits, along with flexible hours after some experience in the field.
Building relationships with clients is also very appealing. Seeing different businesses and how
they are run can be eye-opening and can lead to potential opportunities.
Cons: The CPA exam can be very stressful. There are 4 parts to the exam, and Thorne
says he has seen most people fail at least one section before passing it. The boot camp he
mentioned before can be draining. At those entry-level positions, the hours arent as flexible and
can wear you out. Accountants also must know many legal regulations and should abide by
them. The laws are constantly changing and accountants must keep up to date with new
regulations that are passed. Organization is also very important. There is a lot of paperwork
involved and it can be hard to catch up after falling behind. There are a few dead-end positions
that can trap you in accounting. Working in-house at a business may lead to better pay, but the
benefits and ability to move up are as available.
Assessment of Accounting:
After doing research and conducting interviews with two CPAs in different positions in
different areas of the country, I felt very good about my choice of career. I have become very
attracted to the idea of putting together financial puzzles and building relationships with business
owners. The salary is not bad for entry-level positions and my goal is to work my way up to even
higher positions. The organization and cleanliness is surprisingly a factor that also interests me. I
find myself thinking of how I can organize things better and keep things in line, and I think that
part of my personality really goes with accounting. The potential to help people who are

A Career in Accounting

struggling or giving advice to people on certain aspects of their business is also an exciting idea.
I enjoy helping people when I can, and that will be one of the most satisfying parts of my career.
Traveling is also a big part of accounting. You may have clients in different areas of the country,
or even the world that youll have to travel to. Thats exciting for me, because those can be highstress, deadline-driven tasks and I feel like I excel in those situations. Itll also be very cool to
see new areas and meet people around the world. Overall, I am very excited to start on this
chapter in my life, and I cannot wait to get to the grit of the accounting world.

A Career in Accounting

Sources

Accountant Overview. (n.d.). Retrieved November 30, 2016, from

http://money.usnews.com/careers/best-jobs/accountant
Accountants and Auditors. (2015, December 17). Retrieved November 29, 2016, from
http://www.bls.gov/ooh/Business-and-Financial/Accountants-and-auditors.htm#tab-1
Accounting Career Paths. (n.d.). Retrieved November 30, 2016, from
https://www.eou.edu/cobe/business/bs/accounting/careerpaths/
Becoming a CPA. (n.d.). Retrieved November 30, 2016, from
https://nasba.org/education/becomingacpa/
Poulk, T., CPA. (2016, November). Accountant Career Interview 1 [Telephone interview].
Resources for Accounting Students | Accounting.com. (n.d.). Retrieved November 30, 2016,
from http://www.accounting.com/resources/students/
Thorne, M., CPA. (2016, November). Accountant Career Interview 2 [Personal interview].
Wiley, C. (2013, April). What does a CPA do? Retrieved November 30, 2016, from
http://www.accountingedu.org/what-does-a-cpa-do.html