Which Subjects Can I Study In High School To Become An Accountant?

Are you wondering which subjects you can study in high school to become an Accountant? If yes, then this informative article is for you. You will be given detailed information about which subjects you can study in high school to become an Accountant.

Who Is An Accountant?

An accountant is a person who records business transactions on behalf of an organization, reports on company performance to management, and issues financial statements.

Here are several examples of the types of transactions in which an accountant may become involved:

• Issuing an invoice to a customer involves recording a sale and account receivable.
• Receiving an invoice from a supplier, which involves recording an expense or asset and an account payable.
• Issuing a salary or wage paid to an employee involves recording an expense and the outflow of cash.
• Reconciling a bank statement, likely produce adjustments to the cash account.

Types Of Accountants

1. Staff Accountant

A staff accountant is a great option for anyone who has a bachelor’s degree in accounting and who wants a variety of work. Staff accountants generally report to a CPA, creating financial reports and analyzing financial data. Depending on the size of the organization, a staff accountant may also be tasked with both accounts payable and accounts receivable management, creating a budget, and reconciling bank accounts.

Generally, staff accountants also work to ensure that the organization is compliant with financial regulations that affect their particular industry. As a staff accountant gets more experience in an industry, they may also be called on to create financial forecasts.

2. Certified Public Accountant

Although certified public accountants (CPAs) are best known for their work on both federal and state taxes, they manage much more than that. In many industries, a CPA may be hired to manage the organization’s staff accountants.

Because a CPA has an extensive, focused education that required the passage of specialized exams, they’re often treated as an organization’s financial advisor. They may also oversee audits or reviews. CPAs may also specialize in certain fields, such as forensic accounting (which will be discussed below).

3. Investment Accountant

Another excellent accounting career option outside of the tax realm is that of an investment accountant. An investment accountant works in the financial industry, usually with an investment brokerage or asset management firm.

In addition to knowing the basics of accounting (including how certain assets and investments may impact a client’s taxes), they must also be knowledgeable about the investment opportunities that the organization offers.

It is often the responsibility of the investment accountant to ensure that the organization is in compliance with state and federal regulations that impact the industry. They may also help the organization improve its financial strategy.

4. Project Accountants

Project accountants are hired to work on specific projects. Depending on the organization for which they are hired, they may be a long-term employee or a contractor brought in specifically to manage one specific objective. Of course, a great working relationship for a single project could also result in both repeat work and referrals.

Project accountants oversee anything that might be involved with the effort. This includes, but may not be limited to, preparing invoices, collecting on invoices, approving expenses, approving billable hours provided by others, planning and maintaining project budgets, and helping ensure that the project is completed by the deadline.

5. Cost Accountant

A cost accountant is similar to a project accountant in that their goal is to help ensure that cost efficiency is met. However, a cost accountant isn’t usually hired on a per-project basis, but rather by organizations that require assistance in managing their supply chain profitability and their budgets.

Cost accountants analyze labor costs, the cost of materials, the costs associated with shipping, production costs, and other costs related to the supply chain. The purpose of their efforts is to identify areas that can be made more efficient.

6. Management Accountant

A management accountant analyzes the financial standing of an organization and how it could impact the company. The management account may also then provide specific advice on how to improve the organization’s financial health.

Management accountants are directly involving in budgeting, external financial reporting, risk management, and performing profitability analyses. It is also important for a management accountant to have the interpersonal and professional skills required to present their information to executives in a manner that is easily understandable.

7. Forensic Accountant

A forensic accountant analyzes financial records to determine whether they contain any errors, omissions, or fraud, as well as to ensure that the records are in compliance with both state and federal laws. Forensic accountants may work for firms that specialize in this particular type of accountancy service, be self-employed, work in the legal industry, or work for the government.

In addition to reviewing financial records to ensure the information is accurate, forensic accountants must do additional research and investigation related to the information presented. Those with this specialization are in high demand to serve as expert witnesses in litigation, as they are skilled at unraveling and explaining complex financial issues and large sums of money.

8. Auditor

Auditors ensure that organizations are correctly recording their financial information. Many industries require that organizations operating within them perform at least one external audit, conducted by someone who is not an employee, each year.

Auditors review financial statements, account books, accounting systems, and fiscal records to ensure that the business is complying with all applicable financial regulations. They also generally provide recommendations to the organization if there are issues that must be resolved or recommendations to help prevent future issues.

9. Financial Advisor

Individuals looking to do something different with their accounting degree may find a fulfilling and successful career as a financial advisor. Financial advisors provide investment and financial planning services to individuals as well as to businesses. The goal of a financial advisor is that of a CPA: their goal is to improve their client’s financial standing.

Financial advisors talk with their clients, create plans that assist clients in meeting their financial goals, and follow up with them over time to adjust plans as needed. Financial advisors who work for businesses will look at the company’s financial statements and other information to determine how best to improve the company’s financial standing.

10. Financial Consultant

A financial consultant is an individual who is skilled in finance and who can help individuals or organizations make sound financial decisions. A financial consultant may be self-employed, be hired by a particular organization because of their skill set, or work for a company that provides financial consulting. They may prepare and review financial reports, analyze financial statements, and help ensure compliance with regulations where necessary.

High School Subjects To Become An Accountant

• FINANCIAL ACCOUNTING
• ECONOMICS
• MATHEMATICS
• ENGLISH

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