All of us at MoneyThumb would like to bid our readers a Happy and Safe Labor Day Weekend. For your reading enjoyment, below is the first portion of a great article from the ECPI University blog,
15 Flabbergasting Facts About the Accounting Industry
You can read the full article here
- Accountants are happy. Accountemps did a survey indicating that seven of 10 accountants would choose accounting all over again if they had a chance to pick their profession anew.
- The outlook for the industry is bright. Accounting and auditing jobs are forecast to grow 11 percent from 2014 to 2024, according to the Bureau of Labor Statistics (BLS). This rate is faster than the average for all jobs and is partly due to globalization. Other factors driving the growth include economic expansion and a tax and regulatory structure that are anything but simple. One example of the role economic expansion plays is this: when companies go public, they need accountants to take care of the documentation required by law.
- In 2014, accountants and auditors filled about 1.3 million positions in the United States, according to the BLS. Among the top five industries employing these professionals are the government and the manufacturing industry. Accounting and related services top the list, employing 26 percent of accountants.
- What accountants like most about their jobs: solving problems. Working with numbers, making recommendations, learning new technologies, and working with people are other top pleasures of the job.
The pay can be excellent! In May 2014, the median yearly wage for an accountant was $65,940, according to the BLS. The top 10 percent of accountants pocketed more than $115,950, while the bottom 10 percent earned less than $40,850.- If you want to go where thehighest-paying accounting jobs are, head first to the District of Columbia. Accountants living there earn a mean of $90,220 yearly, reports the BLS. Rounding out the top-five list are New York, New Jersey, Maryland and Massachusetts.
- Want to go where the jobs are? The most accounting jobs are in California. You may also find plenty of opportunities in Texas, New York, Florida, and Pennsylvania. However, accountants truly are in demand everywhere.
Also, we came across the following 4 free tools for your accounting use:
Compounding Intervals, Loan Amortization, Missing Loan Term, Single Future Value, and Tax Savings Estimator. You can access all of these tools using this link from Withum Audit Tax Advisory.
Enjoy your holiday weekend!
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