The U.S. Bureau of Labor Statistics predicts accounting prospects to be better than average for all jobs from 2010 to 2010.
This forecast is due to an increasing population and growing economy, both of which will produce more businesses. The growth requires more accounting experts to manage books, ensure compliance with government regulations, pay taxes and increase profitability.
Recent revelations of corporate malfeasance, particularly in monetary services, have sounded the call for greater transparency, accountability and control of large company finances. Specialists in auditing are needed to answer the call.
Finally, businesses and other organizations are moving toward International Financial Reporting Standards, which uses principle-based standards to judge accounting methods and reports, and to determine the market value of assets and liabilities. These complex rules require the expertise of higher-level accountants.
The following numbers summarize the future of the profession.
- Employment for accountants is expected to grow by 15.7 percent from 1.216 million to 1.407 million. The best accounting prospects will be for those individuals who can manage corporations with their MBAs, and who can audit financial dealings with their CPA licenses.
- Jobs for accounting, bookkeeping and auditing clerks will increase by 13.6 percent from 1.898 million to 2.157 million. Those who can handle a larger range of accounting tasks, such as bookkeepers, will have the best demand.
- Good accounting prospects put these positions among the top 30 occupations for growth during the decade.
- In comparison, the civilian labor force will grow by 14.3 percent for the decade.
- The biggest industry growth is expected to be in health care and social services, professional and business services, and construction. Thus, the best accounting prospects will be among these businesses.