Topic > Accounting: The Three Main Types of Accounting

"Behind every good business there is a great accountant." Considered by many to be the language of business, accounting is actually a vague term. There are many types of accounting, each with its own certifications and requirements. There are three main types of accountants: The first is the public accountant, or CPA. This is a person who works for a public accounting firm, whose job is to evaluate the state of a company by reviewing financial statements. Next, there is a cooperating accountant. In cooperative accounting, an accountant works within a large cooperative, such as Ford or Chevy, and evaluates the health of the company through the creation and analysis of financial statements. Finally there are tax accountants, who focus on studying the tax code. The first important thing to note is the salary which averages $63,550 per year or an hourly rate of $30.55 (BLS 1). This tells me that even an average accountant can make a living in a way that they could most likely support a full family. Then there is the employment turnover, which amounts to approximately 166,700 units, equal to 13% of the work sector (BLS 1). This tells me that accounting is a stable job but there is always a need for a new accountant to replace those who get fired or go to another company. Furthermore, there is evidence that the accounting profession is a white male dominated field (AICPA 38). This is due to the cultural perception that men handle math and business better than girls and are more likely to be involved in a field that consists entirely of math and business. Finally, there is the basic education which is a bachelor's degree (BLS 2). This means that an accountant must have at least a bachelor's degree to work in the accounting field, but having a master's degree is required for the CPA exam and is preferable to a bachelor's degree. After receiving proper education, accounting profession becomes an easy and profitable field to get into. The first were the traits required to become a great accountant. Acito believes that "The most important characteristic for being a good accountant is passion" (Acito). This is something that may seem like a no-brainer, but accountants are generally not considered to be passionate people, but without a passion for accounting the road could be quite difficult for non-enthusiasts. The need for passion in accounting, or in any job, is due to the amount of time and energy invested in the career and without passion it creates not only personal depression but will also affect your concentration and efficiency while working. The next step according to Acito is detail orientation (Acito). This is truly a necessity for accountants because any mistake, no matter how small, can create problems down the line. This is supported by job postings that list “retail orientation” as one of the job requirements (CPA Job Search 2). The last important quality is work ethic (Acito). This is due to the amount of work accountants do and also the fact that through hard work it is possible to move up the ranks in an accounting firm. It is through the characteristics of passion, control of details and work ethic that an accountant can become