Which Type of Accountant do I Want to Be: Private versus Public Accounting

For all accounting majors, the difficult decision we have to make before graduation is whether we want personal accounting or public accounting. The most frequently asked question we always ask is which one earns the most money. Well, this question does not matter. A more important question is whether you have opportunities for each career path to be opened in the accounting field and whether you think personally that the public accounting lifestyle is suitable for you. Public accounting includes accounting work done for other companies.

Personal accounting is the company's internal accounting function. A personal accountant or business accountant performs the same kind of task as a certified public accountant, but these tasks are specific to the company they work for. Private accounting can be distinguished from public accounting in important ways. Although public accounting is about collection of financial information and external reporting, private accounting is deeply involved in the internal use of financial information to help administrators in the company make more effective business decisions It is.

The main choice of public or private or carrier path is to enter public or private accounting. Public accounting means to become an auditor. The auditor checks the client's financial system, checks and comments on the financial statements. This is a field of high pressure, many feel that it is inappropriate for this situation, resulting in higher turnover rate. However, it also leads to exposing a large number of customers and their systems, so you can gather a lot of experience in a short time. There is little possibility of being promoted to a partner, and there is fame and economic reward. Personal accounting means to work for an organization as an accountant and promote the career to an assistant controller, controller, and chief financial officer. Progress in personal accounting tends to be slow, but there is a possibility that stress will be low and employment will be stabilized.