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What Do Public Accountants Do?

public accounting

A public accountant is essentially a general accountant who either works for an accounting firm or has his or her own private practice.

Public accountants, who often become CPAs, perform a number of accounting services for their varied clients, either individuals or corporations.

Public accountants' daily tasks range widely, from auditing, tax and financial planning to consulting and providing advice about compensation and benefits.

You may also find yourself meeting with clients, working with larger teams of accountants and eventually training other junior accountants. Many public accountants also end up rising to a high-level position within a firm or moving to a private corporation to become a controller or CFO.

Though public accountants do traditionally work in an office setting, because they often work with several clients at one time, they encounter a wide variety of types of work and people, keeping the job engaging and interesting. An accounting degree, however, is crucial to entering and succeeding in public accounting. To begin your journey on the road to becoming a public accountant, find accounting bachelors, MBA or MAcc degree programs.

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Public Accountant Career Path

Entry Level Mid Level Senior Level

Types of Roles

Staff accountant, junior auditor, tax personnel at an accounting firm

Senior associate/accountant or manager for audit or tax in an accounting firm

Partner/senior partner or director of a firm, CPA in private practice, corporate accounting executive, or CFO of a private company

Experience

0-3 years

4-7 years

8-9+ years

Getting There

  • Bachelor degree in accounting or finance
  • Proficiency in Microsoft Office applications
  • All mid-level requirements
  • An MBA or MAcc is recommended

Salary*

$31,750 – $51,250

$41,000 - $93,750

$70,000 - $300,000+

Description

  • Work on specific tasks for a variety of clients
  • Help prepare audit papers
  • Execute audits
  • Work on tax returns
  • Review and test data
  • Help senior accounting staff
  • Supervise project teams and accounting staff
  • Review and prepare audits and tax returns
  • Work with clients
  • Conduct research
  • Help with firm strategy and planning
Executive in accounting firm:
  • Oversee audits, tax and consulting
  • Drive strategy and business development
  • Manage client relationships
CPA in private practice:
  • Work with client base on anything from tax issues to audits to budget analysis
CFO of a private company:

* Depends on company size, specific job, and location
Sources: Robert Half International, Salary.com, Vault.com, Bureau of Labor Statistics, and Monster.com

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Public Accountants: Fact and Fiction

Public Accountant in Real Life: Mary Ann M., Staff Accountant, Audit Department

Degree: MBA - Finance and Accounting Concentration, 2002

Years in Field: 3

Why did you choose a career in accounting? While I was getting my BA, I took an accounting class and loved it. I interviewed a few CPAs and learned that a career in accounting would allow me to take time during the off-peak season to travel and do the activities I enjoy away from work.

What does a staff accountant do? In my accounting administration's audit department, I audit financial statements and employee benefit plans. In addition to auditing, I do tax returns for corporations, partnerships and individuals, and I compile financial statements.

Read more about the life a public accountant

Public Accountant on TV: Marvin, Business Manager, HBO's Entourage

Position: Business Manager to the stars

Responsibilities: Keeping Vince, a newly-minted superstar, and his group of live-in best friends' spending in check. Marvin advises Vince, for example, against simultaneously purchasing a $4.2 million mansion and turning down a role in a shoo-in blockbuster. He also reprimands the crew for itty bitty splurges like a $300,000 Rolls-Royce rental and a $1,500 cell phone bill.

Salary: Marvin, like most celebrity business managers, makes 5% of each client's total income. When Vince, therefore, decides to do the Aquaman trilogy for a total of $24 million, Marvin banks a lovely $1.2 million. And that's only one job for one client.

Fun Fact: Marvin is named after and based on Entourage producer Doug Ellin's father, a New York accountant named Marvin Ellin.