One of the most common misconceptions about accounting is that it’s a boring occupation, but the profession can be an exciting option for individuals who have a knack for numbers and enjoy overcoming daily challenges.
Saint Mary’s University of Minnesota is a private, Lasallian Catholic university offering in-person and online programs to adult learners. Our learning institution is a great place to get started for those wishing to pursue a career as an accountant. Our online accounting degree completion program provides students with the necessary knowledge and skills to pursue their dreams of becoming an accountant. Learn more about the role of an accountant and how you can begin your path to a rewarding career at Saint Mary’s University of Minnesota.
Choose
from seven bachelor completion degree programs
B.S. in Accounting
B.S. in Applied Psychology
B.S. in Business Administration
B.S. in Criminal Justice Leadership
B.S. in Healthcare Management
B.S. in Human Resource Management
B.S. in Information Technology
What Does an Accountant Do?
Many people assume they know what the role of accounting entails. Looking at the profession from the outside, it can seem straightforward. However, the responsibilities of an accountant can vary based on the type of accountant they are and where they work. Generally, accountants are tasked with the following duties:
- Performing account analysis and managing expenditures
- Reviewing financial statements, documents, and other reports, checking for accuracy and legitimacy
- Conducting audits to ensure legal compliance
- Reviewing financial operations
- Preparing and managing tax returns, as well as handling other financial obligations
- Finding and monitoring cost-saving opportunities and making financial recommendations
- Providing risk analysis
- Creating financial forecasts
- Monitoring a company’s finances based on financial status
- Using and navigating financial and accounting software
- Securely storing confidential financial documents
- Making certain all bookkeeping is accurate and adheres to state and federal law
Skills Needed to Be an Accountant
To qualify for an accounting job, individuals must acquire a combination of hard and soft skills. Accountants lean heavily on these competencies and use them every day to perform required tasks. Essential skills needed to be an accountant include:
Sufficient Understanding of Accounting Practices
Accountants must be well versed in the Generally Accepted Accounting Principles, a standardized set of accounting rules, practices, and procedures issued by the Financial Accounting Standards Board. These principles act as a universal set of guidelines for all companies and industries across the United States.
Having a good understanding of these regulatory standards and their meanings is crucial for accountants. They ensure accountants meet requirements for financial reporting and maintain accounting integrity.
Analytical Skills
Organizations use crucial financial data to make informed decisions about nearly every aspect of operations. Accountants need the correct skill set to compile and analyze raw financial data. Knowledge of data query language also is necessary as it helps accountants pull specific information from large volumes of data. In addition, this skill enables accounting professionals to identify financial patterns in business data sets, spot errors, and catch any illegal activity.
Critical Thinking Skills
Accountants use their critical thinking skills for a variety of scenarios. They need to consider problems or subjects from all angles. With the bigger picture in mind, accounting professionals can employ the most logical solution while still adhering to ethical standards. Accountants often are expected to be independent thinkers, exploring multiple options for solving a problem.
Accountants also will be required to use several soft skills to meet the needs of their organization and the client. These skills include:
- Organizational skills
- Time management skills
- Written and oral communication skills
- Continual learning
Job Outlook and Compensation
An accountant is a desirable professional for many reasons. Accounting professionals are compensated handsomely compared to the median annual wage for all occupations nationwide. According to the U.S. Bureau of Labor Statistics, accountants earn a median annual salary of $78,000. In addition to making a high salary, accountants are in high demand. Employment of accountants and auditors is projected to grow by 4% through 2032.
Acquire Needed Education and Skills to Become an Accountant
Anyone interested in pursuing a career as an accountant can obtain the required knowledge and necessary skill set through the online B.S. in Accounting program offered at Saint Mary’s University of Minnesota. The accelerated bachelor’s degree curriculum provides training in accounting principles and topics that are essential to the role.
Saint Mary’s University of Minnesota is proud to accommodate students already in the working world with online programs, offering students a convenient way to further their knowledge, perfect their craft, and forge their desired career paths. To begin your quest to become an accountant request more information today. You can apply online.