Both could potentially be busy during audits by a government agency or public accountant. Those who do auditing for public companies must first meet specific requirements and register with the Public Company Accounting Oversight Board. If you’re considering a career in public or private accounting, our online Bachelor’s Degree in Accounting is a great first step.
You may find each different type of accounting is right for you at different stages in your career. No matter which path you choose, continuing professional education (CPE) plays a crucial role in staying current with industry trends and regulations. Surgent CPE provides a comprehensive range of courses designed to meet the evolving needs of accounting professionals, ensuring that you remain competitive and knowledgeable in your chosen field. With Surgent CPE, you can tailor your learning experience to fit your schedule and preferences, empowering you to excel in your accounting career, whichever path you pursue.
Public vs. Private Accounting: Choosing Your Career Path
Private accountants might also hold CPA licenses but their work is not divulged to the IRS or the general public. Private accounting is a practice where private accountants perform audits on various parts public accounting of an organization for the purpose of internal improvement. These audits are done by private accountants because it would be disaster if the competition gained access to those private audit documents.
- As you get a look at the scope of the work you’ll be doing as a public accountant, the distinction will soon become clear.
- According to leading labor market analytics firm EMSI, jobs for accountants and auditors are expected to grow 5% by 2031.
- As for public accountants, they have unpredictable work environments and schedules.
- For private accountants, on the other hand, the busiest times are likely at the end of each month and when the fiscal year ends.
- Examples of corporate accounting roles include tax, management, or financial accountant; internal auditor; chief financial officer (CFO); or various management positions, such as tax manager.
Internal auditors also look for accidental errors that affect the totals on spreadsheets, general ledgers and balance sheets. Working as a private accountant, you may work as a freelancer, with your office in your home. If you do freelance, you’ll be able to pick and choose the clients you wish to work for. There are also certifications available that might open up private https://www.bookstime.com/articles/statement-of-stockholders-equity accounting job opportunities, such as Certified Internal Auditor (CIA) and Certified Management Accountant (CMA). They might review them during an external audit, but they are not directly involved in the company’s day-to-day functioning. To advance in the public accounting sector, you’ll have to obtain the CPA certification from a state board by passing the CPA exam.