Labor Market For Accountancy Accounting Essay

1257 WordsDec 9, 20166 Pages
Labor Market for Accountancy Accounting, often called “the language of business”, is an industry that provides valuable services not only for businesses, but also for individuals. Accountants and auditors look over and analyze financial statements, prepare assessments, and ensure the numbers they work with are accurate and in accordance with governmental regulations. Although not the most exciting profession, current demand for accountants is high. According to Forbes, 61.2 percent of recent college graduates with degrees in accounting receive a job offer shortly after graduating ("Accountants and Auditors"). There are several different types of accountants who specialize in different subfields of accounting but the most recognizable careers in accounting are financial management, economics, budget analysis, and private and governmental accounting or auditing. The industries that employed the most accountants in 2014 were tax preparation, bookkeeping, and payroll services, which accounted for 26 percent of overall employment, the government and finance/insurance sector which both separately employed 8 percent, company and enterprise management, which employed 7 percent, and manufacturing, which employed 6 percent ("Accountants and Auditors"). The current market for accountants is growing. In 2014, accountants held approximately 1.3 million jobs focused in the subfields of tax preparation, government accounting, finance and insurance, company management, and manufacturing
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