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    Career Industry Forecast

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    The document provides an overview of the career paths of accountants and actuaries, including job descriptions, required education and certifications, professional organizations, salary expectations, and career outlook. Accountants construct and interpret financial reports and balance sheets to analyze financial commitments and predict trends, while actuaries analyze the financial consequences of risk and uncertainty to help companies gauge the likelihood of investment and other business outcomes. The document also lists related career fields, terminology used in accounting and actuarial work, and questions about accounting transactions, preferred software, common errors, actuarial reports, benefits of statistics-based work, typical hours, and risks.

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    Career Industry Forecast

    Uploaded by

    api-482101564
    93 views3 pages
    The document provides an overview of the career paths of accountants and actuaries, including job descriptions, required education and certifications, professional organizations, salary expectations, and career outlook. Accountants construct and interpret financial reports and balance sheets to analyze financial commitments and predict trends, while actuaries analyze the financial consequences of risk and uncertainty to help companies gauge the likelihood of investment and other business outcomes. The document also lists related career fields, terminology used in accounting and actuarial work, and questions about accounting transactions, preferred software, common errors, actuarial reports, benefits of statistics-based work, typical hours, and risks.

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    The document provides an overview of the career paths of accountants and actuaries, including job descriptions, required education and certifications, professional organizations, salary expectations, and career outlook. Accountants construct and interpret financial reports and balance sheets to analyze financial commitments and predict trends, while actuaries analyze the financial consequences of risk and uncertainty to help companies gauge the likelihood of investment and other business outcomes. The document also lists related career fields, terminology used in accounting and actuarial work, and questions about accounting transactions, preferred software, common errors, actuarial reports, benefits of statistics-based work, typical hours, and risks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    93 views3 pages

    Career Industry Forecast

    Uploaded by

    api-482101564
    The document provides an overview of the career paths of accountants and actuaries, including job descriptions, required education and certifications, professional organizations, salary expectations, and career outlook. Accountants construct and interpret financial reports and balance sheets to analyze financial commitments and predict trends, while actuaries analyze the financial consequences of risk and uncertainty to help companies gauge the likelihood of investment and other business outcomes. The document also lists related career fields, terminology used in accounting and actuarial work, and questions about accounting transactions, preferred software, common errors, actuarial reports, benefits of statistics-based work, typical hours, and risks.

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    Kayla Nguyen

    20 August 2019
    Career/Industry Forecast

    Job Title: Accountant/Actuary

    Job Description:

    ● Accountant

    ○ Constructing and interpreting financial reports and balance sheets for

    business and/or individuals; analyzing financial commitments necessary to

    predict future trends.

    ● Actuary

    ○ Analyze the financial consequences of risk and uncertainty, allowing

    companies to gauge the likelihood of an event regarding investments,

    demand, accidents, and current trends.

    Training, Education, and Certification:

    ● Bachelor's degree in mathematics, finance, or economics

    ○ *accounting, statistics

    ● Internships

    ● Certifications

    ○ Certified Public Accountant (CPA) credential required

    ○ Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS)

    College or Post High School Programs and Recommended High School Courses:

    ● High School

    ○ AP Statistics and AP Calculus, take a math course every year

    ○ Computer Science, develop computer skills

    ● College
    Kayla Nguyen
    20 August 2019
    ○ Linear Algebra, Statistics and Data Analysis, Probability,

    Inferential Statistics, Introduction to Financial Accounting,

    Economics, Finance

    National and Local Professional Organizations:

    ● Accountant

    ○ American Association of Finance and Accounting, Institute of Internal

    Auditors, American Accounting Association

    ● Actuary

    ○ Society of Actuaries, Casualty Actuarial Society, American Academy of

    Actuaries

    Related Areas:

    ● Budget Analyst, Auditors, Financial Examiners, Financial Analyst,

    Mathematician/Statistician, Insurance Underwriters

    Salary:

    ● Accountant

    ○ First year: up to $70K; 10 years: $150K+

    ● Actuary

    ○ First year: $58K; 10 years: $150K+

    Career Outlook:

    ● The employment of accountants is estimated to increase 10% by 2026, due to the

    connection to overall health of the economy.

    ● The employment of actuaries is estimated to increase 22% by 2026, which is

    much faster than most occupations.


    Kayla Nguyen
    20 August 2019
    Terminology:

    ● liability, market value, annuity, asset smoothing, mortality assumption, present

    value, portability, rate of return, control cycle, bull market, casualty insurance,

    coinsurance, combined ratio

    Questions

    1. How many types of transactions are there in accounting and what are they?

    2. What is the most preferred platform/software to work on for the finance industry?

    3. What are the common errors of accounting?

    4. What is an actuarial report?

    5. What are the advantages of a statistics-based career?

    6. What do the hours look like?

    7. What are the risks in choosing this field?

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