FORENSIC ACCOUNTING CAREER

If you like intrigue, drama and mystery especially if it comes combined with arithmetic, then you are cut out for a forensic accounting career. Forensic accountants, use their financial and accounting skills to do investigative accounting for businesses and other organizations to ensure that accounting crime is not perpetrated. Forensic accountants may even be required to testify in criminal cases in court. It was a Forensic Accountant who led to the capture of Alcapone.

How to Become A Forensic Career Accountant

You will need to attain a Bachelors degree and have a minimum of 24 accounting hours.

You can choose to pursue a master’s degree course with specialization in Accounting

You should also have a Certified Public Accountant (CPA) certification

In addition to your accounting qualifications, you should enlist with the American College of Forensic Examiners or become a Certified Fraud Examiner.

For a good forensic accounting career path, it is important that you gain practical experience on the job. You might want to work for governmental agencies at the start of your career for instance the FBI, Homeland Security and the Treasury Department. This is because you will gain a lot of experience due to the large amounts of accounting fraud that these organizations handle.

FORENSIC ACCOUNTING CAREER Types, Description and Information

You can either chose to work in the private or public sector. Be aware that if you are working for a governmental organization, you will be under probation in your first year in that organization. Therefore, if your performance is not up to par, you will be dismissed from employment. Your career path can also deviate into different sectors. For instance, Crime and Fraud investigation, Auditing or consultancy

Qualifications: Courses, Training, Certification

You will need to take classes in auditing, finance and investigative accounting to qualify as a forensic accountant. You have the option of doingdegree courses in Business Administration, Bachelor of commerce, and Bachelor of Science in Forensic Accounting, MAcc degrees or any other degree course that offers a solid accounting base. If you are enrolling for certification online courses for Forensic Accounting Degrees, it is important to ensure they offer training in law, justice and accounting.

FORENSIC ACCOUNTING CAREER Schools/colleges, degree, education, entrance exams.

As a prerequisite, you will need to have a high school diploma to enroll for a Bachelors degree. If you have SAT and ACT scores, you might not need to do entrance exams before admission.

TOP 5 colleges/ Universities for forensic accountant career.

Florida Atlantic University offers a Masters in Forensic Accounting for those who do not have an accounting background.

Kaplan University-Online Course

American Intercontinental University (AIU)

Ashworth College

Central Pennsylvania College

Job Opportunities, Salaries/Pay.

There are many job opportunities available for those in the Forensic Accounting Career. They can work in banks, insurance companies, investigative organizations, accounting firms and legal offices.

When engaged in a government job search, be aware that you will be subjected to a thorough background check during or after recruitment.

As you begin your Forensic Accounting career, the outlook is that your salary will range between $30,000 and $ 60,000 in your first year. As you work your way up your career, your pay will increase up to $125,000-$150,000.

Accounting Courses, Training, Certification

If you want to be an accountant, the minimum qualification required is a Bachelor’s degree, preferably with a specialization in Accounts. A Master’s degree is an added advantage. Being a CPA (Certified Public Accountant) will enhance your career opportunities.

It is important to be a CPA because only then, can you file a financial report with the Securities and Exchange Commission (SEC). To be a CPA, most States require you to be a college graduate. You will need a total of around 150 credit hours of University study to be eligible to appear for the CPA exam. Some States may substitute experience for degree.

CPA is a four part examination prepared by the American Institute of Certified Public Accountants (AICPA). It is uniformly followed in all the States. Though it is a tough exam, it is not necessary to appear for all the four parts at one time. The only condition is that you must clear all the other sections within 18 months of passing the first section.

The other important Certifications that can act in your favor while looking for accounting jobs are:

Certified Management Accountant (CMA), which is given by the Institute of Management Accounts.

Institute of Internal Auditors offers Certified Internal Auditor (CIA). You can also gain the following Certificates from this institute:Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA).

The criteria and minimum required qualifications vary for each of the above courses

Accounting career

Accounting career can be challenging and stimulating as it involves working in a constantly changing and evolving business-environment. Accounting career would involve recording business transactions, computing costs and gains, preparing financial statements for the financial year and helping in calculating taxes among other things.

How to Become an Accountant:

You can become an accountant if you have a bachelor’s degree in accounting or a related field. It is an added advantage if you have a Master’s degree and a certification or licensure. You can become a Certified Public Accountant (CPA) by clearing the uniform exam prepared by the American Institute of Certified Public Accountants (AICPA).

Practical knowledge of computers and its applications is also an asset because most companies rely on new technology to maintain their records. You must have an aptitude for mathematics and must be able to analyze, interpret and compare facts and figures quickly. You must not only be good at working with numbers but people as well. Based on the facts and figures, you must be able to guide people in matters related to finance.

There are four major types of accountants: Public Accountants, Management Accountants, Government Accountants and Internal Accountants. In recent times, Forensic Accountants are in much demand. Their job involves investigating and interpreting bankruptcies and other complex financial issues.

List of accounting careers:

Public Accountants also known as External auditors have to look after accounts, audits and taxes and also provide consultation for their clients. Their clients can be government agencies or organizations, nonprofit organizations or corporations or even individuals. Most of the Public Accountants are also CPAs.

Management Accountants are also known by various other designations. They are sometimes called Cost Accountants, Industrial Accountants, Private Accountants or Corporate Accountants.

The work of Government Accountants is related to financial records of government agencies and public firms.

Internal Accountants are involved in examining and evaluating a firm’s internal accounting procedures, to ensure that all financial records are in order.

Most Accountants have to put in a 40 hour work-week. You will be generally working out of a typical office setting and occasionally may have a chance to work from home.