FINANCE

Accountants and Auditors

Purchasing Managers, Buyers, and Purchasing Agents
Loan Officers
Appraisers and Assessors of Real Estate
Tax Examiners and Collectors, and Revenue Agents

BY: SAMANTHA EASON

1-20-15

ACCOUNTANTS & AUDITORS:

WHAT DO THEY DO?

Prepare and examine financial records.

Make sure that financial records are
accurate and that taxes are paid
properly on time.
Assess financial operations and work
to help ensure that organizations run
efficiently.

WORKING ENVIRONMENT?

Most accountants and auditors work full time.

About 1 in 5 worked more than 40 hours per week.
Longer hours are typical at certain times of the year, such as
at the end of the budget year or during tax season.

EDUCATION REQUIREMENTS?
Most employers require a candidate to
have a bachelors degree in
accounting or a related field.
Certification within a specific field of
accounting improves job prospects.

SIMILAR OCCUPATIONS?

Cost estimators
Management Analysts
Top Executives

TRAINING & OTHER

QUALIFICATIONS AND
ADVANCEMENT?

Every accountant filing a report with the Securities and

Exchange Commission (SEC) is required by law to be a
Certified Public Accountant (CPA).

Many other accountants choose to become a CPA to enhance

their job prospects or to gain clients. Many employers will often
pay the costs associated with the CPA exam.

Important Qualities:
Analytical skills
Communication skills
Detail oriented
Math skills
Organizational skills

JOB OUTLOOK?

Employment of accountants
and auditors is projected to
grow 13 percent, which is
about as fast as the
average for all occupations.

In general, employment
growth of accountants and
auditors is expected to be
closely tied to the health of
the overall economy.

As the economy grows,

these workers will continue
to be needed to prepare
and examine financial
records.

PAY?
The median
annual wage
for
accountants
and auditors
was a little
over $64,000.

MORE
INFORMATION
For more information about the
Certified Public Accountant (CPA)
designation, visit
American Institute of Certified Publ
ic Accountants (AICPA)
For more information about
management accounting and the
Certified Management Accountant
(CMA) designation, visit
Institute of Management Accountan
ts
For more information about internal
auditing and the Certified Internal
Auditor (CIA) designation, visit
The Institute of Internal Auditors
For more information about
information systems auditing and
the Certified Information Systems
Auditor (CISA) designation, visit
ISACA

PURCHASING MANAGERS,
BUYERS, AND
PURCHASING AGENTS:
WHAT DO THEY DO?
Evaluate suppliers based on
price, quality, and delivery
Working
Environment?
speed.

Interview vendors and visit

suppliers' plants and distribution
centers to examine and learn
about products, services, and
prices.

Attend meetings, trade shows,

and conferences to learn about
new industry trends and make
contacts. with suppliers

Analyze price proposals,

financial reports, and other
information to determine
reasonable prices.

Negotiate contracts on behalf of

their organization.

ETC

Most purchasing managers, buyers, and

purchasing agents work in comfortable
offices. Travel is sometimes necessary, and
purchasers for global organizations may
need to travel outside the United States.

EDUCATION
REQUIREMENTS?

A high school diploma is

enough at many
organizations for entry into
the purchasing agent
occupation.

Large stores and

distributors may prefer
applicants who have
completed a bachelor's
degree program and have
taken some business
classes.

Many manufacturing firms

put an even greater
emphasis on formal
training.

Related occupations:
Financial Clerk
Lodging Managers
Food Service Managers

TRAINING, OTHER
QUALIFICATIONS AND
ADVANCEMENT?

Job Outlook:

Buyers and purchasing

agents typically get on-thejob training for more than 1
year.

During this time, they learn

how to perform their basic
duties, including monitoring
inventory levels and
negotiating with suppliers.

o These workers will be needed to buy

goods and services for business
operations or for resale to
customers. Growth will vary based
on the type of purchasing agent or
manager and the specific industry.

PAY?
The median
annual wage for
purchasing
managers,
buyers, and
purchasing
agents was
$60,550.

ADDITIONAL
INFORMATION?
For more information about purchasing managers, buyers, and
purchasing agents, including education, training, employment,
and certification, visit
American Purchasing Society
APICS
Institute for Supply Management
NIGP: The Institute for Public Procurement
Universal Public Procurement Certification Council

LOAN OFFICERS:
WHAT DO THEY DO?
Contact companies or people to ask if they need a loan
Meet with loan applicants to gather personal information and
answer questions
Explain different types of loans and the terms of each one to
applicants
Obtain and verify financial information, such as the applicants
credit rating and income level
Analyze and evaluate the applicants finances to decide if the
applicant should get the loan
Approve loan applications or refer them to management for a
decision

LOAN OFFICERS:

Education requirements:
Loan officers typically
Working Environment:
need a bachelors degree,
usually in a field such as
Loan officers who specialize
business or finance.
in consumer loans usually
Some loan officers may
work in offices.
be able to enter the
Mortgage and commercial
occupation without a
loan officers often work
bachelors degree if they
have related work
outside the office and meet
experience, such as in
with clients at their homes
sales, customer service,
or businesses.
or banking.

Most loan officers work full

time.

TRAINING, OTHER
QUALIFICATIONS AND
ADVANCEMENT?
Once hired, loan officers usually receive
some on-the-job training.
This may be a combination of formal,
company-sponsored training and informal
training during the first few months on the
job.
Those who use underwriting software
often take classes to learn the companys
software programs.

Job Outlook:

The need for loan

officers fluctuates with
the economy, generally
increasing in times of
economic growth, low
interest rates, and
population growthall
of which create demand
for loans.

PAY?

Additional Info:

The median annual

wage for loan
officers was a little
over $60,000.

Related
Occupations:

Real Estate Brokers

Personal Financial
Advisors

Tellers

For more information about

certification and training for
loan officers, visit
American Bankers Associat
ion
For more information about
a career as a mortgage
loan officer, visit
Mortgage Bankers Associat
ion
For more information about
licensing for mortgage loan
officers, visit
Nationwide Mortgage Licen
sing System & Registry Re
source Center

APPRAISERS AND ASSESSORS OF REAL

ESTATE:
WHAT DO THEY DO?
Verify legal descriptions of real
estate properties in public records
Inspect new and existing properties,
noting unique characteristics
Photograph the interior and exterior
of properties
Use comparables, or similar
nearby properties, to help determine
value
Prepare written reports on the
property value
Prepare and maintain current data
on each real estate property

Work
Environment?
Although appraisers and
assessors of real estate
work in offices, they spend
a large part of their day
conducting site visits. Time
spent on site versus in the
office depends on the
specialty.

EDUCATION
REQUIREMENTS?
Although requirements vary by
state, appraisers of residential
real property usually must have at
least an associate's degree, and
appraisers of more complex
residential or commercial property
usually must have at least a
bachelor's degree.
In practice, however, most have a
bachelor's degree.

Related
occupations:
Real Estate Brokers
and Sales Agents
Construction and
Building Inspectors

TRAINING, OTHER
QUALIFICATIONS AND
ADVANCEMENT?

Job Outlook?

Employers generally require

candidates to take basic
appraisal courses, complete
on-the-job training through
long-term on-the-job
training, and work enough
hours to meet the
requirements for licenses or
certificates.

Demand for appraisal services is linked

to the real estate market, which can
fluctuate in the short term.

Over the long term, employment growth

will be driven by economic expansion
and population increasesfactors that
generate demand for real property.

PAY?

The median annual

wage for appraisers
and assessors of real
estate was a little over
$50,000

Additional Info:
For more information about
appraisers of real estate, visit
American Society of Appraisers
Appraisal Institute
For more information about
assessors of real estate, visit
International Association of Assessin
g Officers
For more information about
licensure requirements for
appraisers and assessors of real
estate, visit
The Appraisal Foundation

TAX EXAMINERS AND

COLLECTORS, AND REVENUE
AGENTS:

WHAT DO THEY DO?

Review filed tax returns to
determine whether tax
credits and deductions
claimed are allowed by law
Conduct field audits and
investigations of income tax
returns to verify information
or to update tax liabilities
Keep records on each case
they deal with, including
contacts, telephone
numbers, and actions taken
Notify taxpayers of any
overpayment or
underpayment and either
issue a refund or request
additional payment

Working Environment?
Tax examiners and collectors, and revenue
agents work for federal, state, and local
governments.
Many work primarily in an office environment;
others spend most of their time conducting
field audits in taxpayers homes or places of
business.

EDUCATION
REQUIREMENTS?
Related Occupations?
o Tax examiners need a
bachelor's degree in
accounting or a related
field, or a combination of
relevant education and
specialized experience in
accounting, auditing, or tax
compliance work.
o Revenue agents need a
bachelor's degree in
accounting, business
administration, economics,
or a related discipline.

Cost Estimators
Book Keeping Clerks
Auditing Clerks

TRAINING, OTHER
QUALIFICATIONS AND
ADVANCEMENT?

Newly hired tax examiners

get some formal training,
which typically lasts
between 1 month and 1
year.
All tax examiners must
keep current with changes
in the tax code and
enforcement procedures.

Job Outlook?
Employment change will
depend primarily on future
changes to federal, state, and
local government budgets.
Budget reductions in recent
years have resulted in
decreased hiring for the
agencies that employ these
workers.

PAY?

The median annual wage

for tax examiners and
collectors, and revenue
agents was a little over
$50,000.

Additional Information:
For information about tax examiner
and collector, and revenue agent
careers at the Internal Revenue
Service (IRS), visit
Internal Revenue Service
For more information on
requirements for federal government
positions as an internal revenue
officer, visit
U.S. Office of Personnel Managemen
t