Accounting consulting: a guide to the accounting consultant career

Accounting professionals who want to branch outside the functional tasks of accounting may consider becoming an accounting consultant. 

To learn if this is a great next step for you, learn more about accounting consultants, what they do, how much they earn, and how to become one. 

What is an accounting consultant? 

An accounting consultant is a professional who uses his or her accounting expertise to advise clients on how to effectively manage their finances, minimize financial risk, improve financial processes, or resolve a specific accounting problem. The goal of an accounting consultant is typically to maximize revenue and reduce costs for their client while remaining compliant with federal regulations. 

Accounting consultants may be hired by individuals or companies, either working for a firm or as an independent contractor. 

What does an accounting consultant do? 

Accounting consultants add value to an individual or organization by using accounting expertise to teach, guide, and advise clients toward better financial management or more beneficial tax strategies. 

Individuals often don’t have the know-how to manage their assets, while companies’ finance departments are too busy to leverage their data to see what lies ahead. Accounting consultants fill these gaps—translating financial data into insights and recommendations that reveal opportunities and risks for their clients. 

Accounting consultants often provide the following services and solutions:   

• Auditing current operations 
• Creating more efficient processes 
• Recommending software or systems 
• Implementing best management practices and frameworks 
• Identifying high risk plans 
• Recommending high-reward opportunities 
• Providing recommendations to increase profitability 
• Forecasting future spending 
• Ensuring compliance with laws and regulations² 
• Tax planning and recommendations on how to leverage deductions and credits
• Supporting a merger or acquisition

Regardless of your area of experience, whether it's audit, tax, or financial accounting, your skills are needed and can be beneficial in a consulting capacity. 
 

Accounting consulting career pathways 

Accounting consultants find employment either as an independent contractor or with an established firm. 

Independent contractors 

Many accounting consultants gain opportunities through networking with current clients or working an accounting side hustle that turns into a full-time gig. This path allows you to be your own boss—meaning that you decide your rates, choose your clients, work your own hours, and don’t have to split earnings. However, you also assume all the risks of entrepreneurship: finding your clients, working alone, risking financial loss, etc. 

Accounting consultancy firms 

You could also apply directly for an accounting consultant position with an accounting firm, where you would work with and learn from other accounting consultants and gain easy access to clients. However, if you choose this path, you work the hours and projects assigned to you, and earn a fixed salary rather than charging your own rates. 

Accounting consultant skills 

Working as an accounting consultant requires growing your competency by honing the skills you need for the position. 

Experience 

Clients want proof of your ability to deliver results. Whether you’re applying for an established accounting consultancy firm or looking for work as an independent consultant, you will need at least a few years of accounting experience under your belt, demonstrating that you have the skills and knowledge to provide accurate financial guidance. 

Credentials 

If you’ve not yet earned your CPA license and/or CMA certification, there is no overestimating the advantage that these credentials will give you in the accounting consultancy space. Becoming a CPA or CMA certifies you as a highly knowledgeable and dedicated accounting expert, well-versed in a variety of tasks. 

With a CPA license and/or CMA certification, you are infinitely more competitive on the job market and can charge more for your services. 

Marketing and business development 

Organization and effective communication are critical to successfully delivering financial advice to your clients. If you choose to run your own consulting business, these skills are even more essential. On top of your project duties, you’ll need to do tasks like: 

• Pitching new clients 
• Nurturing existing relationships 
• Networking 
• Operating a small business (pricing, billing, and creating processes) 
   

Niche knowledge 

Many accounting consultants specialize in an industry or area of expertise. Niching can help you land a job as a specialist with a firm or sell yourself to clients by providing a clear rationale for the value you bring to the table. You can develop this specialization by taking continuing professional education courses that focus in your area of interest. 

If you hold a CPA license or CMA certification, fulfilling your required CPE credits is the perfect opportunity to build your niche knowledge. 

Accounting consultant salary 

An accounting consultant’s earnings can vary based on many factors: 

• Are you working for a firm at a fixed salary? 
• Are you an independent contractor just starting out and looking for your first clients? 
• Are you a well-established consultant who runs a successful accounting consultancy business? 

Because there is a wide range of accounting consultant career paths, there is likewise a range in expected salaries. 

That said, accounting consultancy can be a very lucrative career, as good financial guidance will always be in high demand. In the United States, the average accounting consultant makes between $87,000-$141,000 annually.¹ 

How to become an accounting consultant 

Starting your accounting consultancy career can be daunting—especially if you are branching out from a more traditional accounting role. In fact, there is no one path that leads to an accounting consultancy career. However, understanding the career pathways available and skills required for this position will help you plan your journey to becoming an accounting consultant. 

Consider questions like: 

• What areas of accounting are especially interesting to me? 
• What skills am I especially good at? 
• What education and credentials do I bring to the table? And what do I still need to develop? 
• What experience and networking contacts do I have (and need)? 
• Do I want to be an entrepreneur or work for a firm? 
• Where do I want to be in five or ten years?³ 

By asking yourself these questions, you can then: 

1. Identify your areas of strength 
2. Recognize points of weakness 
3. Define your accounting consultant career goals 
4. Plan action steps toward advancing your career 

Is accounting consulting the right path for you? 

If you’re currently working in an accounting position, but not entirely thrilled with the daily grind, moving into accounting consulting might be a good next move. You’ve likely gained skills and experience that you can leverage in an advisory role—or that will at least help you on your journey to get there. 

Build your accounting consultancy skillsets (and earn CPE!) through Becker's consulting services CPE courses. Our Consulting Services: Financial Growth Library pulls together 13 CPE courses focused on equipping you to thrive in accounting consultancy. 

Unlock the entire Consulting Services: Financial Growth Library and explore these courses to start building your accounting consultant career! 

• Revenue Driver: New products and services 
• Revenue Driver: Marketing
• Revenue Driver: Customer service/account management 
• Expense Reduction Drivers: Property costs
• Expense Reduction Drivers: Equity vs. debt financing costs
• ...and more!