Being an Idaho Falls Accountants is not an easy job! After the Covid-19 outbreak, this is the perfect time for accounting professionals to enhance their resume with LPA or CPA license.
As we have already mentioned in a previous article, there are two ways to become Idaho Falls Accountants, you can either get a CPA license which is more extensive, or a LPA license which comes with certain limitations.
According to the National Association of State Boards of Accountancy (NASBA), the CPA license is currently held by over 650,000 accountants in the US. Let’s talk about the career scope and opportunities of being one of Idaho Falls Accountants.
The main duty of an accountant is to prepare the financial records of an organization and monitor them. Calculation of cash flow, taxes, expenses, handling payroll and billing process falls under the basic work an accountant needs to do. Thus being an accountant you should have good skills in Math, Bookkeeping, and knowledge of some softwares like MS Excel, Quickbooks, and Sage 50.
Idaho Falls offers a good pedestal for those who are looking forward to furnishing a career in the field of accounting. Other than giving two licenses, the salary and career scope of Idaho Falls Accountants is very good. The average salary of an accountant in Idaho Falls is $45,625 per year. As reported by U.S. Bureau of Labor Statistics (BLS), a median annual salary of an accountant car go upto $73,560 per year. The report from BLS states that the demand for accountants will grow by 7% from the year 2020-2030.
The need for accountants is constantly increasing in Idaho Falls and across the US. Accounting as a career option is stable as the increase in international businesses and taxes completion requires financial professionals in every firm. The salary of Idaho Falls Accountants also differs on the speciality, education and experience.
· Salary By Education
It is not surprising that with a higher education and prominent degree, accountants can increase their earnings just like every other profession. Those who have a bachelor’s in accounting can get upto $72,000 per year, while with a master’s degree the salary average can increase upto 5% more. Much larger jumps can be seen if the aspirant holds a certification such as CPA or LPA.
· Salary By Experience
While the average salary of a fresher with a year experience is $42,304 in Idaho Falls, an accountant with a handful of experience and a senior designation such as senior manager of audit can earn upto $134,000 a year while senior manager in tax services can earn upto $136,750 per year.
Being an accountant with a license of CPA or a LPA in Idaho Falls can lead to a bright future. Accountants with good educational, and experience can earn upto $45,000 a year on an average, As a accountant you can lead yourself into several career options,
· Public Accounting
At the basic level, one can start working at a public accounting firm encompassing services like accounting, tax, auditing, and consulting services.
· Government, Business & Nonprofit Accounting
Accountants can lead to becoming financial analysts to CFOs of companies based on their experience and skills. In a major company, the responsibility of budgeting, internal audits, financial information reporting, recording and analyzing can be given to an accountant.
· Financial Advisor
Idaho Falls Accountants can also serve as financial advisors to businesses or individuals with the ability to make financial decisions on the behalf of the company or an individual.
· Forensic Services
In fraud investigations and financial transgressions, accountants can use their skills to examine the event and collect evidence for the financial crime to help the court in making judgements.
With an at least growth of 7% from the year 2020-2030, it is adequate that the scope and career options for becoming an Idaho Falls Accountant will constantly grow in the coming years. With an average salary of $45,000 which can go up to $136,000 a year, being an accountant in Idaho Falls is a good start for your accounting journey.