Path to Becoming an Accountant [+FAQs & Step-by-step Guide]

Accountants are essential to businesses and individuals, ensuring financial stability and driving smarter decisions. From managing budgets to uncovering insights, they play a vital role in every industry.

A career in accounting offers endless opportunities—whether in corporate finance, small businesses, or even forensic investigations. It’s a respected, rewarding path with high demand and room for growth. If you’re ready to start your journey, this guide will show you how to be an accountant now.

What is the Role of an Accountant

Accountants are critical in managing, analyzing, and reporting financial information for individuals, businesses, and organizations. Their responsibilities vary depending on their specialization but generally include maintaining financial records, ensuring compliance with laws, using financial documents, and helping clients or companies make informed decisions.

Key Responsibilities:

• Recording transactions: Documenting income, expenses, and other financial activities accurately.
• Preparing financial reports: Creating balance sheets, cash flow statements, and income reports to assess financial performance.
• Tax preparation and compliance: Filing tax returns and strategizing to minimize tax liabilities while adhering to regulations.
• Auditing: Reviewing financial records for accuracy and compliance with legal standards.
• Budgeting and forecasting: Assisting organizations in planning for future expenses and revenues.

As of May 2023, the median annual wage for accountants and auditors was $79,880. Employment for accountants and auditors is projected to grow 6% from 2023 to 2033, faster than the average for all occupations.

Types of Accounting Roles

Accounting offers a variety of career paths, each tailored to different skills and interests. From helping individuals with taxes to investigating serious financial crimes and fraud, accountants can specialize in roles that align with their strengths and passions. Here’s an overview of some common accounting roles and what they involve:

• Public Accountant: Public accountants work with a wide range of clients, including businesses, government agencies and entities, and individuals. They handle tasks like tax preparation, financial audits, and offering general consulting to help clients manage their finances effectively. Whether preparing annual reports or advising on cost-cutting strategies, public accountants often serve as the go-to financial experts for their clients.
• Management Accountant: Management accountants, sometimes called corporate accountants, focus on the financial health of a single organization. They handle internal tasks like budgeting, cost analysis, and financial planning. Their role often involves analyzing numbers to guide decision-making, such as determining whether to invest in new equipment or cut operational costs.
• Forensic Accountant: Forensic accountants combine accounting with investigative work, often collaborating with law enforcement or legal teams. They track down financial discrepancies, uncover fraud, and analyze complex transactions for legal cases. If you enjoy problem-solving and digging into details, this role offers a mix of detective work and financial accounting expertise.
• Tax Accountant: Tax accountants specialize in helping individuals and organizations navigate tax laws. They prepare tax returns, advise on deductions, and develop strategies to minimize tax liabilities. Their work ensures compliance while optimizing tax outcomes, making them invaluable during tax season or when dealing with complex financial regulations.
• Government Accountant: Government accountants manage and audit public funds to ensure they’re being used responsibly. They might work at the federal, state, or local level, overseeing budgets, using accounting managers, preparing reports, and ensuring compliance with policies. Their role is to help maintain transparency and accountability in government spending.
• Auditor: Auditors focus on reviewing financial records for accuracy and compliance. Internal auditors work within an organization to ensure financial controls are effective, while external auditors provide an independent review for regulatory or transparency purposes. They often play a key role in identifying risks and suggesting improvements to financial processes.

Salary Guide for Different Accounting Roles

1. Public Accounting: Provide auditing, tax, and consulting services to a variety of clients, including individuals, businesses, and governments. Entry-level positions typically start around $80,100, with senior roles earning up to $311,900.
   
   Employment in this field is projected to grow by 4% from 2022 to 2032, aligning with the average for all occupations.
   
2. Management Accounting: Focus on internal financial processes, including budgeting, performance evaluation, and cost management, to aid organizational decision-making. Salaries vary based on experience and industry, with median annual wages around $79,880 as of May 2023.
   
   The demand for management accountants is expected to grow as organizations seek to improve efficiency and profitability.
   
3. Forensic Accounting: Forensic accountants analyze financial data to detect fraud, embezzlement, and other financial crimes. They work closely with law enforcement agencies, legal teams, and organizations to provide expert testimony and support during investigations and litigation. Salaries for forensic accountants vary based on experience, location, and employer. As of November 2024, the average annual salary for a forensic accountant in the United States is approximately $92,370.
   
   Entry-level positions may start around $44,200 per year, while experienced professionals can earn up to $100,000 annually.
   
   The demand for forensic accountants is expected to grow due to increased regulatory scrutiny and the need for fraud detection. Employment of accountants and auditors, which includes forensic accountants, is projected to grow 6% from 2023 to 2033, faster than the average for all occupations.
   
4. Tax Accounting: Specialize in tax-related matters, including preparation, compliance, and strategic planning for individuals and organizations. Tax associates earn around $79,800, with senior tax managers making up to $172,200.
   
   Job Outlook: Steady demand is expected, particularly during tax seasons and as tax laws evolve.
   
5. Government Accounting: Manage and audit public funds, ensuring transparency and compliance within governmental entities. Salaries are competitive, often reflecting the scale of responsibility and level of government.
   
   Job Outlook: Opportunities are stable, with growth influenced by government budgets and policy changes.
   
6. Auditing: Examine financial records to ensure accuracy and compliance with laws and regulations. Audit associates start around $80,100, with senior positions earning up to $140,550.
   
   Job Outlook: The need for auditors remains strong, driven by regulatory requirements and the importance of financial integrity.

How to Be an Accountant in 5 Steps

Step 1—Earn a Degree Required for Accountants

A career in accounting starts with a strong educational foundation and is greatly enhanced by professional certifications. These qualifications open doors to specialized roles, higher salaries, and increased career opportunities in accounting positions.

Most accounting roles require at least a bachelor’s degree in accounting or a related field. Some entry-level positions may accept associate degrees, but higher education increases your chances of securing more advanced roles.

Here are the degrees and courses you can enroll:

• Bachelor’s Degree in Accounting: Covers core topics such as financial reporting, auditing, tax laws, and managerial accounting.
• Bachelor’s Degree in Finance or Business Administration: Provides foundational knowledge in financial management and business strategy.
• Master’s in Accounting or Business Administration (MBA): Advanced degrees are ideal for leadership roles or specialized fields like forensic accounting or tax consultancy.

If you're an absolute beginner, here are some courses you can consider:

• Accounting Fundamentals: Learn basic principles of financial statements and bookkeeping.
• Taxation 101: Introduction to individual and corporate tax systems.
• Auditing Basics: Covers internal controls and compliance requirements.

Besides formal education, professional certifications validate your expertise, increase your earning potential, and often qualify you for specialized roles. Here are some certifications for your consideration:

• Certified Public Accountant (CPA): The CPA designation is a globally recognized certification for public accountants. It qualifies individuals for roles in auditing, taxation, and consulting.
  • Requirements: Bachelor’s degree, 150 credit hours of coursework, passing the CPA exam, and meeting state-specific experience criteria.
• Certified Management Accountant (CMA): Focused on management accounting, the CMA is ideal for those working in corporate finance and strategy.
  • Requirements: Bachelor’s degree, two years of professional experience, and passing the two-part CMA exam.
• Association of Chartered Certified Accountants (ACCA): ACCA certification is internationally recognized and focuses on global financial standards. It’s ideal for those pursuing careers in multinational companies.
  • Requirements: Completion of 13 exams and practical experience requirements (PER).
• Enrolled Agent (EA): This certification, issued by the IRS, specializes in U.S. tax law and is ideal for tax accountants.
  • Requirements: Pass a three-part exam covering individual and business taxation.
• Chartered Financial Analyst (CFA): Though more finance-focused, CFAs can benefit accountants in investment-related roles.
  • Requirements: Pass three rigorous exams and meet professional experience criteria.

Step 2— Prepare Relevant Skills

Accountants need hard skills to manage technical tasks and soft skills to collaborate effectively and make informed decisions. Mastering both skills is crucial for success in the accounting field, as accountants often balance precise financial work with team collaboration and client interactions.

Hard skills are technical abilities that allow accountants to perform core financial and analytical tasks. These skills are often acquired through education, training, and professional experience.

1. Proficiency in Accounting Software: Accountants must be proficient in tools like QuickBooks, SAP, Microsoft Excel, and Xero. These accounting programs streamline bookkeeping, financial reporting, and budgeting tasks. For example, preparing financial statements for quarterly reviews using Excel’s advanced formulas and pivot tables to organize large datasets efficiently.
2. Financial Analysis and Reporting: Financial analysts are responsible for analyzing financial data to assess a company’s performance and make recommendations. This includes preparing balance sheets, cash flow statements, and income statements, identifying trends in expenses and revenue, and advising management on cost-cutting measures to improve profitability.
3. Tax Compliance and Regulation Knowledge: Understanding local and international tax laws is vital for preparing tax returns, ensuring compliance, and reducing liabilities. For example, filing tax returns for a small business and leveraging allowable deductions to minimize tax obligations while staying compliant with laws.
4. Budgeting and Forecasting: Creating budgets and predicting future financial trends helps organizations allocate resources effectively. For example, developing an annual budget for a company, forecasting revenue growth, and ensuring departmental spending aligns with goals.
5. Auditing and Risk Assessment: Auditing involves verifying financial records for accuracy and identifying potential risks in financial operations. Risk assessment ensures that systems and processes comply with regulations. For example, conducting an internal audit to uncover discrepancies in financial statements and recommending improvements to internal controls.

Soft skills complement technical expertise and enable accountants to work effectively with teams, clients, and stakeholders. These skills are crucial for problem-solving, collaboration, and decision-making.

1. Attention to Detail: Accountants handle large volumes of data where even small errors can have significant consequences. Attention to detail ensures accuracy and compliance with accounting principles. For example, catching a minor discrepancy in expense records that prevents a costly tax penalty for a client.
2. Communication: Clear communication is essential for explaining complex financial information to non-experts, such as clients or executives. For example, presenting quarterly financial results to stakeholders in a way that highlights key insights without overwhelming them with technical jargon.
3. Problem-Solving: Accountants frequently encounter issues like cash flow shortages or tax complications. Strong problem-solving skills help identify root causes and develop actionable solutions. For example, resolving a company’s cash flow challenge by restructuring payment schedules and negotiating vendor terms.
4. Time Management: Accountants often juggle multiple tasks, especially during tax season or audits. Effective time management ensures deadlines are met without sacrificing quality. For example, balancing the preparation of monthly financial reports with a client’s urgent tax query.
5. Team Collaboration: Accountants work with various teams, including finance, operations, and external auditors. Collaborative skills ensure smooth communication and project success. For example, coordinating with the marketing team to track budgets for a new campaign and align spending with financial goals.

Step 3—Choose the Career Path

Next, pick a specialty that you're most interested in, for example:

• Auditing
• Business Valuation
• Environmental Accounting
• Government Finance
• International Accounting
• Nonprofit Accounting
• Personal Finance Accounting
• Tax Accounting

For each specialization, there are specific accounting job requirements and training that you’ll need to meet. Here are the 5 most popular types of accounting jobs and how to succeed in the role.

How to become a CPA

1. Earn a bachelor's degree (preferably in accounting or business. If not, you must complete a minimum number of accounting-related credits as specified by your state's accounting board).
2. Complete 1-2 years of relevant and verified accounting experience. 
3. Pass the CPA exam.
4. Obtain CPA licensure.
5. Renew your license every 1-2 years.

How to become a chartered accountant

1. Complete a 4-year undergraduate program (preferably in Finance, Business, Economics, or Accounting).
2. Enroll in a chartered accountancy preparatory program.
3. Gain a minimum work experience of 3 years under a certified employer.
4. Prepare for the CA (Chartered Accountancy) exam and CPT (Common Proficiency Test).
5. Complete IPCC and orientation.

How to become a forensic accountant

1. Meet the accountant’s education requirements - a bachelor's or master's degree in forensic accounting, accounting, finance, or a related field.
2. Consider obtaining the CFE credential and/or the license for CPA or CA. 
3. Have at least 1-3 years of accounting experience.

How to become a tax accountant

1. Earn a bachelor's degree.
2. Consider pursuing a master's program in accounting.
3. Become a CPA.
4. Consider earning additional certifications.
5. Maintain licensure with continuing education.

How to become an auditor

1. Obtain at least one undergraduate degree in accounting.
2. Consider pursuing a master’s degree in accounting or business administration.
3. Gain hands-on experience.
4. Get a CPA certification. 
5. Consider earning a CIA certification.

Step 4—Gain Hands-On Experience

Practical experience is essential for developing the skills employers value most. Entry-level roles and internships provide exposure to real-world accounting tasks and help you build your resume.

• Internships: Many accounting firms offer internship programs that let you work alongside experienced professionals. These opportunities often lead to full-time offers if you perform well.
• Entry-Level Positions: Start with roles like a junior accountant, accounts payable/receivable clerk, or tax preparer. These positions allow you to build foundational skills while exploring different aspects of accounting.
• Freelance or Part-Time Work: Offer bookkeeping services or assist small businesses with tax preparation to gain experience and build a portfolio.

You can look for career opportunities at:

• Your school’s career center
• Job fairs
• Hiring events
• Alumni networks
• Job search websites

Step 5—Build a Professional Network

Networking is key to uncovering job opportunities and staying updated on industry developments. Connecting with other top public accounting firms and accounting professionals who can provide mentorship, career advice, and referrals.

• Join Professional Organizations: Becoming a member of accounting societies helps you access resources, attend events, and connect with peers.
• Attend Industry Events: Conferences, seminars, and workshops provide opportunities to meet professionals and gain insights into the latest trends and technologies.
• Utilize Online Platforms: LinkedIn is a powerful tool for networking. Join accounting groups, follow industry leaders, and actively engage with relevant content to expand your professional connections.

Step 6—Stay Informed and Keep Learning

Accounting is a field that evolves with changes in regulations, technology, and business practices. Continuous learning ensures you remain competitive and prepared for advanced roles in accounting careers.

Platforms like Coursera, edX, and Udemy offer courses on specialized topics such as tax law, financial modelling, and auditing software.

Finding a mentor in the same accounting major or degree field can help guide your career choices. Mentors can provide valuable advice, feedback, and encouragement as you navigate your professional journey.

FAQs about Becoming an Accountant

1) How long does it take to become an accountant?

Becoming an accountant typically takes at least four years. Almost every state requires a bachelor's degree for entry-level accountant roles. Besides that, candidates who want to get a CPA have to complete 150 semester hours of college coursework to be licensed.

If you choose to pursue higher education in accounting, it will take two to three more years, depending on the type of degree or program you would need to take. 

2) How much does an accountant earn?

Several factors that influence an accountant's salary may include:

• Fields in accounting
• Accounting degree
• Work location

In general, the average annual salary of a bachelor's Accounting in the United States is $53,310, which is equivalent to $25.63 per hour. For those with a Master's Degree in Accounting, you can earn $65,062 annually (approximately $31.28 per hour). Note that these are starting pay rates for entry-level accounting jobs. You will need to gain more experience and achieve a higher accountant education needed to earn a higher salary.

3) Where do accountants work?

The four main types of accounting you can pursue are management, public, internal auditing, and government, which will determine your workplace. Becoming an accountant also means you have many choices of where to work - either in offices or remotely from anywhere. Since a business can’t exist without the help of professional accountants, more and more people choose to be freelancers in this field these days. 

4) What are the challenges facing the accounting profession today?

These will vary depending on the different fields of accounting. However, technology and growing competition have posed significant challenges to accountants.

The most pressing issue for everyone in the field is keeping up with evolving technology. Since there are tons of reliable accounting services available online, you have to upskill and offer clients something that a computer can not.

The rising competition is another threat to those who want to become an accountant. Landing the dream job or selling your services as a freelancer can be quite tough. You have to improve your accounting skills and revamp your business marketing strategies as well.

Moreover, changes in taxation can be a burden too. You've completed training to be an accountant, but never stop learning new regulations and guidelines and adjust accordingly. For example, you would need to go through 5,593 pages of new provisions in the Consolidated Appropriations Act, a.k.a the COVID stimulus, after the tax season in 2021.

Final Thoughts on Starting Your Journey in Accounting

Pursuing a career in accounting opens up opportunities for growth, specialization, and making a real difference. Accountants do much more than crunch numbers—they solve problems, build trust, and help businesses and individuals succeed. By exploring the many roles in accounting, gaining the right continuing education and certifications, and honing your skills, you can set yourself on the path to success.

The journey takes effort and focus, but the rewards are well worth it. A career in accounting offers both personal fulfilment and professional advancement, with countless ways to make an impact.

Start today by taking that first step—whether it’s researching certifications, applying for internships, or joining a professional network. With dedication and a continuous learning mindset, you can achieve your goals and thrive in a field that values expertise and innovation.

Your future in an accounting firm is waiting. Trust in your abilities and take each step with purpose toward a rewarding and meaningful career.

--- Originally written by Cahya Donaven and May Luong ---