For years, accountants have been the punchline of jokes. Whenever a comedian or a sitcom needs a “boring” career they immediately turn to accounting. In reality, accounting is a dynamic and fast-pace field that offers plenty of opportunities for career advancement. It’s an attractive choice for both young people and those looking to change professions.

Don’t let the “bean counter” stereotype fool you. Accounting is an important field that helps clients, both big and small, navigate through the complicated and treacherous worlds of taxes and finance.

Before embarking down a path to become an accountant, you should first assess your talent and penchant for mathematics. If you don’t like math, or you’re not very good at it, you might want to consider a different profession.

Education

A great way to launch a career as an accountant is to obtain a Bachelor’s degree in the subject. Keep in mind that to earn most bachelor’s degrees you need 120 semester hours but most states require certified public accountants (CPA) to have 150 semester hours. It’s recommended that you check the requirements of the state you wish to work in before enrolling in an accredited accounting program.

After obtaining a Bachelor’s in accounting you have the option of joining the work force or getting a graduate degree. You can choose between a Master’s in Accounting (MAcc) or a MBA with a focus in accounting. A MAcc puts students on a fast track to become a certified public account or a certified management accountant. A MBA with a focus in accounting is wider in scope as it provides a background in business concepts and management strategy.

There is another route a prospective accountant can take and that’s getting an accounting certificate or an associate degree in accounting. This type of certification can be obtained at most community colleges. This is a solid option for potential accountants that are on a budget and want to land an entry level position as soon as possible.

Exam

You hear the term “certified public accountant” a lot. What exactly does it mean? It sounds like an accountant that went down to city hall, paid a fee, and received a meaningless piece of paper. Actually, it’s much more difficult to obtain than that. To become a CPA you have to take a four-part, two-day examination. You have to pass all four sections of the exam to get your certificate. And it’s a tough test. Only a quarter of all applicants pass all four parts. It’s highly advised that you give yourself plenty of time to study.

Also, before you can take the test you’ll need your bachelor’s degree and real-life accounting experience. It’s wise to seek an internship while going to school.

Types of Accounting

During your quest to become an accountant there will come a time when you must choose the specific type of accounting you want to do. There are four main types of accounting: government, internal auditing, management, and public. Keep in mind that within each of the aforementioned fields there are further subcategories. The four main categories are discussed below.

Government Accounting

This type of accounting will have you keeping financial records of governmental agencies or auditing businesses that must comply with federal regulations. Choose this type of accounting if you want to work for the Internal Revenue Service.

Internal Auditing

Internal auditors are like financial watchdogs. They audit their company’s finances for waste, fraud, and inefficiencies. They make sure their company’s financial records comply with all necessary regulations.

Management Accounting

Enter the field of management accounting if you want to work for corporations. These types of accounts, also called “corporate accounts,” keep financial records, conduct financial analysis, and assist with budgeting.