Career Research - Accounting by Charis Pantaleoni https://padlet.com/10092872/q4y7cwqfieme7m16 en-us 2023-05-15 18:25:43 UTC 2023-05-22 18:52:23 UTC hello@padlet.com What does accounting entail? 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591760050 An accountant helps a business make financial decisions. They collect, track, and may also correct the finances as they come. Finally, they are also required to create financial audits, create bank statements, and ensure that all records are correct. 
(Source #1)]]> 2023-05-15 18:33:07 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591760050 Source #1 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591760688 https://resources.workable.com/accountant-job-description#:~:text=An%20Accountant%20helps%20businesses%20make,are%20accurate%20throughout%20the%20year.]]> 2023-05-15 18:33:39 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591760688 Necessary Education 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591762980 Typically, in order to become an accountant, you need a bachelors degree that has an emphasis on accounting. If you do not have a four-year degree, you will not be able to take the CPA exam which is required for this field. 
(Source #2)]]> 2023-05-15 18:35:32 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591762980 Source #2 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591763905 https://universityhq.org/best-colleges/california/online-accounting-degrees/#:~:text=According%20to%20the%20California%20Board,should%20take%20around%20four%20years.]]> 2023-05-15 18:36:16 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591763905 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591770894 The main issue mentioned is that it can be very hard to keep up with the regulations on taxes. That is why accountants have to take CPA exams to be aware of changes in taxes and how to handle them. 
(Source #3)]]> 2023-05-15 18:41:35 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591770894 Source #3 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591771455 https://www.accountingseed.com/resource/blog/top-7-issues-accountants-face/#:~:text=A%20constant%20challenge%20for%20accountants,systems%20to%20handle%20taxes%20online.]]> 2023-05-15 18:42:04 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591771455 Average Salary 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591775157 Accountants made a median salary of $77,250 in 2021. The best-paid 25% made $99,800 that year, while the lowest-paid 25% made $60,760.
(Source #4)

How much you make can vary on location
"Staff accountant salaries can vary depending on where a person lives. States with higher costs of living — like California and New York — may offer higher-paying positions" 
(Source #12)
]]> 2023-05-15 18:45:07 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591775157 Source #4 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591776172 https://money.usnews.com/careers/best-jobs/accountant/salary]]> 2023-05-15 18:45:53 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591776172 Additional Schooling Required 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591786616 The bachelors degree could be in accounting or business. If the CPA exam is taken, this can increase ones' job opportunities as it makes you look more employable. 
"Job opportunities increase significantly for accountants who obtain a CPA license."
(Source #6)

Possible schools to get MBA in business
UC Berkeley
Stanford
University of Pennsylvania 
UCLA
Harvard
(Source #10)]]> 2023-05-15 18:53:49 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591786616 Source #6 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591787723 https://www.accounting.com/careers/overview/]]> 2023-05-15 18:54:10 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591787723 Benefits 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591803794 Job security - There is always accountants needed everywhere, easy to get a job
Opportunities to Advance - It is easy to get promotions and move from a smaller business to a larger one once you gain experience.
Skills are Transferable - If you do not end up enjoying accounting, your skills can be used elsewhere such as data analytics or in the FBI
High Salary - Accounting pays well, top 10% of earners
Entrepreneurial - After you gain experience you can open your own firm and help small businesses with their finances.
(Source #7)]]> 2023-05-15 19:07:01 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591803794 Source #7 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591811426 https://cpacredits.com/resources/advantages-disadvantages-accountant/]]> 2023-05-15 19:13:33 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591811426 Drawbacks 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591816158 May require license or certification - larger firms will need the employees to get their CPA, EA, etc. This helps you get into higher and better paying positions
Difficult to earn over $100,000 - This money is only offered in top firms where you may have to work overtime
Difficult degree - "The accounting degree itself requires a lot of hard work and focus, with little time to socialize."
Competitive to get entry level jobs
(Source #7)
]]> 2023-05-15 19:17:29 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2591816158 Day to Day Tasks 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593550345 1. Refresh/update financial data
It is essential to do this every day, because it’s easier to spot discrepancies with recent transactions.
2. Reconcile cash and receipts
Helps see if their are cash shortages or overages
3. Reconcile transactions
Look for any errors
4. Record and also categorize expenses
(Source #8)

]]> 2023-05-16 18:41:12 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593550345 Source #8 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593550866 https://www.businessnewsdaily.com/11079-daily-accounting-checklist.html]]> 2023-05-16 18:41:38 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593550866 Major and Colleges 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593562350 Can major in accounting, but not offered at many colleges.
"If you decide against a degree in accounting, alternative degrees for would-be accountants include maths, economics, business, management and finance" 
UCLA offers business econ major, can minor in accounting
(Source #9)]]> 2023-05-16 18:51:15 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593562350 Source #9 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593562870 https://www.ucas.com/careers-advice/employment/how-to-become-a/accountant#:~:text=If%20you%20decide%20against%20a,can%20pursue%20this%20career%20path.]]> 2023-05-16 18:51:42 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593562870 Source #10 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593567997 https://www.usnews.com/best-graduate-schools/top-business-schools/mba-rankings]]> 2023-05-16 18:56:06 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593567997 College Courses to take 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593573577 Ucla accounting minor courses: Intermediate Financial Accounting I and II, Management Accounting, and Tax Principles and Policy
(Source #11)]]> 2023-05-16 19:01:37 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593573577 Source #11 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593573784 https://www.anderson.ucla.edu/specialized-academic-programs/accounting-minor-program/courses]]> 2023-05-16 19:01:51 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593573784 Source #12 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593581225 https://www.accounting.com/careers/staff-accountant/salary/#:~:text=jobs%20in%20accounting%3F-,Salary%20by%20Location,than%20rural%20or%20suburban%20areas.]]> 2023-05-16 19:08:32 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593581225 Location 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593588047 You can find an accounting job pretty much anywhere, but some cities are better than others and offer better jobs i.e. New York, Los Angeles, and Washington D.C. are top 3. New York average salary is 93,480 for accountants and it is $78,090 in LA for accountants. 
(Source #13). ]]> 2023-05-16 19:14:55 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593588047 Source #13 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593588482 https://www.efficientlearning.com/blog/top-10-cities-accountants/]]> 2023-05-16 19:15:18 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2593588482 Opportunities of Advancement 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595094340 "If you excel at your job, you can become a manager, director, or partner."
You can open your own firm as well
This tends to take a couple years to get to these higher positions 
(Source #14).]]> 2023-05-17 17:59:42 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595094340 Source #14 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595094653 https://www.efficientlearning.com/accounting-career-guide/#:~:text=Career%20Advancement%3A%20Management%20accountants%20may,financial%20officers%2C%20or%20corporate%20presidents.]]> 2023-05-17 18:00:00 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595094653 Opportunities to change careers based on education 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595102666 Since a business econ major is broad, there are many other careers one could change to. 
Some include: analyst, consulting, and financial advising. 
(Source #15).]]> 2023-05-17 18:06:51 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595102666 Source #15 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595103761 https://www.indeed.com/career-advice/finding-a-job/business-economics-jobs]]> 2023-05-17 18:07:48 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595103761 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595109385  "Tax rules are revised constantly, and changes aren’t always easy to interpret."
Must keep up with regulations in a fast enough manner
Solutions: Hold events to inform and update employees on changes
Networking with workshops that can help people connect and share experiences on dealing with tax laws
(Source #16)]]> 2023-05-17 18:12:42 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595109385 Source #16 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595109622 https://tax.thomsonreuters.com/blog/how-to-keep-up-with-tax-law-changes/]]> 2023-05-17 18:12:53 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595109622 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595117206 "Accounting can help society by handling Corporate finance and money by recording it properly."This career helps track money for businesses and helps corporations record their money use. Without this help, businesses cannot accurately track how much they are spending which is a requirement. 
Source #17]]> 2023-05-17 18:19:21 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595117206 Source #17 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595117486 https://www.svtuition.org/2009/09/how-does-accounting-help-society.html#:~:text=Accounting%20can%20help%20society%20by,liabilities%20with%20knowledge%20of%20accounting%20.]]> 2023-05-17 18:19:36 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2595117486 Source #18 10092872 https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2596632491 https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm]]> 2023-05-18 18:27:45 UTC https://padlet.com/10092872/q4y7cwqfieme7m16/wish/2596632491