College Majors That Make the Most Money
Accounting Major
What Accountant and Auditors Do:
Accountants and auditors prepare and examine financial records, identify potential areas of opportunity and risk, and provide solutions for businesses and individuals. They ensure that financial records are accurate, that financial and data risks are evaluated, and that taxes are paid properly. They also assess financial operations and work to help ensure that organizations run efficiently.
Duties
Accountants and auditors typically do the following:
- Examine financial statements to ensure that they are accurate and comply with laws and regulations
- Compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time
- Inspect account books and accounting systems for efficiency and use of accepted accounting procedures and identify potential risks for fraud
- Organize, analyze, and maintain financial records
- Assess financial operations, identify risks and challenges, and make best-practices recommendations to management
- Suggest ways to reduce costs, enhance revenues, and improve profits
Accountants and auditors may use technology, such as artificial intelligence (AI) and robotics process automation, to increase their productivity. Automating some routine tasks makes these workers more efficient by allowing them to focus on analysis and other high-level responsibilities.
In addition to examining and preparing financial documents, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.
Many accountants and auditors specialize, depending on their employer. Some work for organizations that specialize in assurance services (improving the quality or context of information for decision makers) or risk management (determining the probability of a misstatement on financial documents). Other organizations specialize in specific industries, such as finance, insurance, or healthcare.
Links to Learn More About Accounting Majors and Careers