He established the modern version of forensic accounting when he helped convict Al Capone of tax evasion in the 1930s. The earliest days of the history of accounting likely included forms of forensic accounting. Historians believe Egyptians monitored for fraud by tracking their kingdom’s possessions. To accommodate the need for true and fair reporting, the U.S. accounting industry adopted generally accepted accounting principles . Theserules, standards, and proceduresdictate the way that the nation’s public companies compile and report financial statements.

Who Should Consider Becoming an Accountant?

Create financial statements that accurately report financial information and comply with regulations. Accountants need a bachelor’s degree, and CPAs require additional classes. Ilana Hamilton is a writer and editor specializing in education and career topics. Education also offers many diverse opportunities in research and teaching. Federal, state, and local government departments offer diverse opportunities for CPAs. You’ll also represent clients before the IRS to help them resolve their tax problems. The IRS only allows CPAs, attorneys, enrolled agents, enrolled retirement plan agents, and enrolled actuaries to represent clients directly.

Additionally, QuickBooks gives its users access to increased credibility, marketing, and educational resources. Accountants can make use of training modules and other educational material, which helps with your professional development. These features are also listed on the QuickBooks Certified ProAdvisor website, where numerous companies search for a trustworthy financial professional. QuickBooks Online Accountant allows you to manage and connect with multiple clients from a single dashboard, removing any guesswork from tracking financial information and staying organized. From there, you can easily switch between different accounts easily and take advantage of advanced reporting options, user roles, and permissions.

What Is the Difference in Cost Between an Accountant and Tax Preparer?

Read more about accountancy services here.

Salaries for accountants are also better allocated, as they focus on the harder areas of their role. Accounting software is the key to digital accounting as it gives companies the benefits of using technology rather than paper. Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University.