What do accountants do?

Starting your college career and choosing a major can be complicated. The pressure is real to study something that will set you up for career-long success and fulfillment. Although the choice seems daunting, you can hone your major by understanding your interests, skills, and the career paths before you. 

If you’re good with numbers, organized, and want job security and ample room for career growth, accounting may be a great fit for you. Now, dive into the details of a day in the life of an accountant to answer the question: “What do accountants do?” And, more importantly, answer: “Is this right for me?” 

What is an accountant? 

“Accountant” is very broad title, describing any professional who handles a company or individual’s money: forecasting, reporting, taxes, budgeting, analysis, advising, and many more services all fall under this wide umbrella. 

Some of the most popular service areas within accounting include:¹ 

• Personal financial planning 
• Information management and technology assurance 
• Forensic accounting which uses accounting practices to investigate and prevent financial crimes
• Valuation which is the process of determining the worth of a company or asset
• Tax, including planning and preparation 
• Audit 
• Assurance services which analyzes information to assess accounting entries and financial records and verifying them per generally accepted accounting principles
• Environmental accounting  
• International accounting 

Regardless of the specialization, accountants are essential to any industry, as economy is at the center of all business. 

Skills to succeed as an accountant

When you're asking what do accountants do, you need to look beyond the numbers. You'll also have to juggle a variety of tasks, analyze data, and communicate information effectively. This means you'll need these important soft skills: 

Attention to detail 

As an accountant, you’ll be reviewing lots of numbers to ensure accuracy. You’ll need to be attentive and detail-oriented to be sure you catch any discrepancies. Your job will require a keen eye for the fine print. 

Versatility 

Accountants need to be flexible enough to work in many different work environments and with a diverse group of clients. This adaptability applies to your working style, your accounting knowledge, and your ability to work with different types of people.  

Effective communication 

As an accountant you’re communicating sensitive financial information. Your communications–both verbal and written–need to be clear and accurate. 

Desire to keep learning 

Accounting practices and regulations change often, and you want to informed to best support your clients. You should always be eager to learn more and build your accounting and finance knowledge. 

Likewise, your career will grow exponentially through additional licensures, credentials, and continuing education. 

What do accountants do? 

An accountant’s everyday responsibilities depend on specialization, position, experience, and credentials. That said, general accounting responsibilities can include: 

• Tracking transactions to maintain financial reports  
• Analyzing budgeting and foresting data 
• Reviewing financial documents to ensure accuracy and compliance 
• Providing financial consulting—including making recommendations, helping to reduce expenses, and solving financial problems 
• Auditing financial documents to identify potential financial crimes 
• Preparing tax returns 
• Increasing financial efficiency within organizations

Although this list provides an idea of the type of services that accountants may provide, it is far from an exhaustive list of roles and responsibilities—and that’s just the beauty of the profession. With an accounting degree, there is no limit to the places that you can take your career. 

Career paths for accountants 

While there are many branches within accounting and options to specialize your knowledge, three main career categories are: 

• Accounting 
• Audit 
• Tax

Accounting

Working in general accounting can lead you into public or private accounting. In public accounting, you will likely work for or start your own firm, providing accounting services to a wide variety of companies and individuals. In private accounting, on the other hand, you may work within a single organization to help optimize its financial decisions, management, spending, etc. 

Audit 

Auditors are the professionals who, essentially, double-check other accountant’s work. They make sure that companies are compliant and that reports are accurate, avoiding legal problems and costly mistakes. They then communicate findings with their clients and recommend courses of action. 

Tax 

When most people ask "What do accountants do?" invariably, they think of taxes. If you choose to become a tax accountant, you’ll likely work at a firm or on a contract basis, helping your clients remain compliant, optimize their tax savings, and representing them before the IRS in case of disputes (if you are credentialed to do so). 

No matter which branch you choose, you have ample opportunity to advance your career opportunities and earning potential by gaining additional certifications and licensure. 

This chart provides an overview of each of the above branches within accounting, the services that you may expect to provide, the credentials that are key to career growth, and what kind of job positions await you. 

Start a successful accounting career 

It’s normal to have questions about how to start your career and where it will take you. What do accountants do? What is the best specialization for you? How do best leverage your skillsets to grow your career? 

Find answers to help you kick off your career, in Becker’s Survive and Thrive to Start Your Accounting Career course. We’ve put together real-world success stories and advice, essential skills for the profession, and career traps to avoid—all designed to give you a head start on growing an accounting career that’s fun and fulfilling!