By Kate Zuritsky | 04/07/2025
“Accounting is the language of business,” Warren Buffet once said in a 2015 interview with CNBC. “You have to be as comfortable with that as you are with your own native language to really evaluate business.”
Whether you use an accountant for taxes or have one on speed dial for your own business, accounting professionals are in high demand. Contrary to popular belief, accounting encompasses much more than just taxes – accountants work for family-owned businesses, government organizations, and publicly traded entities.
Pursuing an accounting degree requires a combo of strong analytical skills, a passion for numbers, and the right education and certification. But your hard work and determination can pay off, leading to diverse, rewarding roles with a lifetime of meaningful opportunities.
So, what is the accounting field really like? What are the pros and cons of being an accountant?
What Exactly Does an Accountant Do?
If you’re curious about becoming an accountant, here’s what you need to know. “Essentially, accountants are custodians of financial health,” says Dr. Ana Machuca, an assistant professor with the Dr. Wallace E. Boston School of Business at American Public University. “Helping businesses and individuals maintain transparency, efficiency, and legality in their finances.”
“The core responsibilities include managing financial records, ensuring regulation compliance, and providing insights to support decision-making,” Machuca explains. These skilled professionals are also responsible for:
- Preparing financial statements
- Handling payroll
- Analyzing budgets and financial information
- Completing financial transactions
- Filing tax returns
- Watching data governance
- Overseeing cash budgets
- Maintaining the account ledger
What Is a Regular Day for Accounting Professionals vs. the Busy Season?
The day-to-day responsibilities of an accountant may include analyzing financial documents, providing reports for capital budgeting, and making bank deposits. Many accountants might prepare monthly bank reconciliations, manage cash, or assist with budget planning.
During busy seasons, such as tax season, roles shift to focus on “preparing and filing returns, tackling complex tax issues, analyzing current accounting, and operational practices,” observes Dr. Machuca. “It’s a more intense, fast-paced environment that requires impeccable organization, good communication skills, critical thinking, and long hours.”
Dr. Machuca also says that accountants will evaluate and implement accounting software needs, conduct financial statement audits, and additional audits, including:
- Operational audits
- Information technology audits
- Fraud audits
- Environmental audits
- Quality assurance audits
- Health and safety audits
- Pollution prevention audits
- Due diligence for business acquisitions
What Does a Tax Accountant Do?
A tax accountant, who can be in a private or public accounting role, prepares and files tax returns for individuals and companies to comply with tax laws and regulations. This type of accountant also helps individuals and businesses with audits, tax planning, and consulting to help minimize their taxes.
The Pros of Being an Accountant
For students pursuing an accounting degree or aiming to become a Certified Public Accountant (CPA) or a Certified Management Accountant (CMA), it's important to understand the full scope of this profession. An accounting career, like any other, has its advantages.
Pro: Accounting Offers Job Stability
“There’s always a demand for skilled accountants, which provides job stability,” explains Dr. Machuca. “No matter the industry, every business needs to hire someone with accounting skills –whether for taxes, financial planning, or for external and internal auditors.”
Pro: Accounting Provides a Healthy Work-Life Balance
One of the positives of working in an accounting career is that it promotes a healthy work-life balance. “Work hours are usually 9-5, and this job can also be done remotely,” says Dr. Machuca.
Many accounting firms have recently revamped their businesses to better support their employees and accommodate remote work, flexible schedules, and childcare needs. However, the balance may get thrown off during busy seasons.
There are also career opportunities in finance and accounting, such as a controller or financial planner. With sufficient knowledge and experience, you could also move up the ranks to become a partner or Chief Financial Officer (CFO), or you may choose to open your own firm.
Pro: Accounting Offers Professional Versatility
“The accounting profession spans industries – every sector needs accountants,” says Dr. Machuca. Whether it’s healthcare, software development companies, or fashion, all small businesses, large organizations, and government agencies require services provided by auditors and accountants.
This career path offers opportunities in financial analysis, business administration, and financial reporting. “There is also the possibility of finding and investigating fraud,” continues Dr. Machuca.
Another benefit is that the accounting profession is essentially recession-proof. Accountants are needed during prosperous times and during economic downturns, too.
Additional certifications can add another layer of versatility, especially if an aspiring accountant has one of these accounting credentials:
- Certified Public Accountant (CPA®)
- Certified Management Accountant (CMA®)
- Chartered Financial Analyst (CFA®)
- Certified Internal Auditor (CIA®)
- Certified in Financial Forensics (CFF®)
- Certified Information Technology Professional (CITP®)
- Certified Treasury Professional (CTP®)
- Certified Corporate FP&A Professional Credential (FPAC®)
- Certified Fraud Examiner (CFE®)
Pro: Accounting Fosters the Development of Critical Thinking Skills
If you like to tap into analytical thinking and problem-solving skills every day, an accounting degree may be right for you. “You get to dive deep into numbers, analyze patterns, and make impactful recommendations,” states Dr. Machuca.
Accountants critically evaluate data, identify issues in documentation, detect errors and fraud, and suggest solutions. These same skills help them to analyze financial data trends, create strategic financial plans, and interpret tax laws and regulations to ensure ethical and legal compliance. Practical skills like financial reporting, bookkeeping, and budgeting keep a business running smoothly.
Cons of Accounting
While accounting offers many advantages, it’s not without its challenges. Understanding the potential downsides of the profession can help you decide if it's the right fit for your interests, lifestyle, and long-term goals. From seasonal pressures to ongoing education requirements, here are a few realities to keep in mind.
Con: Accounting Can Be Stressful at Times
Accountants are under high “stress during busy seasons, especially during tax season, when the hours can be very long,” says Dr. Machuca. Despite the benefits, an accounting career often brings tight deadlines, long hours, and high volumes of work during the annual tax season.
Accountants are faced with quick turnarounds, keeping up with changing laws and regulations, and a sudden boost in customers, which can cause long days and sleepless nights. Some workers at public accounting firms may clock in over 80 hours per week.
Additionally, shifting billing structures from hourly to package pricing during the high season can be challenging.
Con: The Work Can Be Repetitive
Although there may be room for a little creativity in accounting, such as designing presentations, job seekers should be aware that accounting can be boring at times. “The work can sometimes feel repetitive, especially when preparing the monthly financial reports,” states Dr. Machuca.
The day-to-day responsibilities of accountants include analyzing data, tracking expenses, and business administration tasks such as bookkeeping and data entry. Since accounting is such a heavily regulated industry, there’s not much room to think outside the box.
Con: Accountants Must Keep Up with Licensing and Educational Requirements
“As a CPA, I am required to take 40 hours per year of continuing education credits,” explains Dr. Machuca. “Staying current with changing regulations and technology requires continuing professional education.”
While education and certification are essential to get started, your bachelor’s degree or accounting degree can only take you so far. Accountants, especially those with professional licenses, must meet Continuing Professional Education (CPE) standards which vary by state.
Accountants typically must complete 20 to 40 hours of CPE every year, depending on their location and certification. These education requirements are essential for licensing and ensuring ongoing compliance within the industry.
Due to constantly changing regulations and federal tax laws, accountants may need additional courses and training to keep up with changes in legislation and industry practices.
What You Need to Pursue an Accounting Career
You should pursue accounting if you’re skilled at number crunching. You also need to “have a knack for organization and the ability to remain calm under pressure,” says Dr. Machuca. “In my opinion, some key traits include attention to detail, strong analytical skills, ethical judgment, and excellent communication.”
While you don’t need to be a mathematical wizard to become an accountant, most organizations require at least a four-year bachelor’s degree. Whether you study finance, economics, or statistics, these degrees will help you expand your accounting knowledge. Students should also complete at least one internship during their undergraduate studies.
After earning a bachelor’s degree, it’s time to gain experience in the business world with an internship or secure an entry-level position. Depending on your preferred career path and if you’d like to move up to a high-level position, you’ll have to continue your education with an accredited accounting program. “An accredited accounting program opens doors to better opportunities, builds credibility, and demonstrates expertise,” explains Dr. Machuca.
“Consider a master’s degree in accounting or an MBA with an emphasis in accounting,” says Dr. Machuca. “Also, think about certifications such as Certified Public Accountant, a Chartered Global Management Accountant, Certified Information Technology Professional, Certified Internal Auditor, Certified Managerial Accountant, and Certified Fraud Examiner. These certifications are essential if you want to elevate your career.”
Types of Accounting Jobs
When you think of accounting jobs, a certified public accountant or tax accountant may come to mind. However, there is lots of room for professional growth within the accounting industry, not just one clear career path. Some of the most popular accounting positions include:
- Accountant: Works for a company or accounting firm to manage taxes, financial records, and payroll
- Accounting Clerk: Assists with data entry and organizes finances for larger companies
- Accounts Payable: Tracks and manages company expenses like payments, bills, and payroll
- Accounts Receivable: Handles customer invoices, incoming payments, and collections.
- Auditor: Reviews financial records for accuracy and legal compliance
- Chief Financial Officer (CFO): Oversees the accounting department, manages financial forecasting, and advises on decisions
- Controller: Manages a company’s financial duties and may oversee a team of accountants
- Financial Analyst: Gathers and analyzes financial data to decide investment strategies and economic health
- Finance Manager: Oversees and assesses an organization’s financial health, including budget, investment opportunities, and strategies
- Forensic Accountant: Investigates financial records to search for fraud or illegal activities
- Payroll Manager: Supervises payroll staff and compiles payroll information to ensure everything is processed, correct, and compliant
Accounting Degrees at American Public University
For interested adult learners seeking the knowledge for becoming an accountant, American Public University (APU) offers three degrees:
- An online Associate of Science in Accounting
- An online Bachelor of Science in Accounting
- An online Master of Science in Accounting
Courses in these programs include accounting, the basics of business, basic productivity applications, and law and ethics in the business environment. Other courses include operations research, principles of financial management, individual tax research and planning, and international accounting.
Also, all of these degree programs have received specialty accreditation from the Accreditation Council for Business Schools and Programs (ACBSP®). This accreditation ensures that these degree programs have been meticulously examined and held to a high degree of academic excellence.
For more information, visit APU’s business and management degree program page.
Note: The bachelor's program in accounting and the master's program in accounting are not designed to prepare graduates for any state-issued professional license or certification and have not been approved by any state professional licensing agency. Successful completion may or may not satisfy the educational requirements for the Certified Public Accountant (CPA) exam. Educational requirements for the CPA exam vary by state. Please see your state's requirements for more information.
Certified Public Accountant is a registered trademark of the American Institute of Certified Public Accountants.
Certified Management Accountant is a registered trademark of the Institute for Management Accountants.
Chartered Financial Analyst is a registered trademark of the CFA Institute.
Certified Internal Auditor is a registered trademark of the Institute of Internal Auditors.
Certified in Financial Forensics is a registered trademark of the American Institute of Certified Public Accountants.
Certified Information Technology Professional is a registered trademark of the American Institute of Certified Public Accountants.
Certified Treasury Professional is a registered trademark of the Association for Financial Professionals.
Certified Corporate FP&A Professional Credential is a registered trademark of the Association for Financial Professionals.
Certified Fraud Examiner is a registered trademark of the Association of Certified Fraud Examiners, Inc.
ACBSP is a registered trademark of the Accreditation Council for Business Schools and Programs.
