Every business organisation, whether big or small, is required to prepare financial statements. Therefore, each organisation is bound to prepare the financial statements following the accounting standards in the respective country where the organisation is established. In the USA, the financial statements are prepared according to the U.S. GAAP.
In simpler terms, accounting is the process of interpreting, classifying, analysing, reporting, recording, and efficiently summarising financial data. Bookkeeping refers to the recording of financial transactions.
An accountant is not only responsible for preparing and examining these financial statements as per the accounting standards, rules, and regulations of the country but also for ensuring that they are accurate and provide correct financial information to the prospective person seeking such information.
- As a U.S. accountant, you can get jobs and projects in the USA and other countries. You can work in a domestic company or any international company or as a freelancer for both domestic and international clients from the comfort of your home.
- With the availability of working from home, so many opportunities are open for you worldwide. For example, if you have a good command of QuickBooks, you can find work on various freelancing platforms like Upwork, Fiverr, and similar websites and directly connect with clients to complete their requirements in exchange for money.
International clients, especially clients from Europe, the UK, Canada, and Singapore, are constantly looking for accountants and bookkeepers to assist them in maintaining their financial statements and ensuring compliance with accounting principles and standards. Since the cost of accountants in these countries is very high, and if you possess the skills for preparing and analysing financial statements, ensuring that the information recorded is accurate and correct, filing taxes, and evaluating financial risks and opportunities, you can make money with these skills on freelancing platforms like Upwork & Fiverr and start earning in dollars from the comfort of your home.
According to Forbes’s current report on Small Business Statistics, small businesses form the bedrock of the American economy. This means that they require accountants and bookkeepers to maintain and ensure the accuracy of their financial records.
Services offered by an Accountant:
An Accountant’s work is not limited to just preparing and analyzing financial reports, he performs a variety of work which includes, but is not limited to:
- Make financial estimates to keep the company in good financial shape.
- Gather employee information, create a time tracking system, and handle the processing of employee payments.
- Accountants also help develop a strong business plan considering the entrepreneurs’ needs and goals.
- Perform internal auditing to review a company’s financial management, practices, and policies, and to check for any potential fraud or mismanagement.
- Manage a company’s accounts payable and receivable.
- Compare the company’s financial records with that of the company’s bank to make sure all the entries are correct and to find any discrepancies.
- Work with corporations, businesses, and individuals to analyze and examine potential fraud and mismanagement in these entities, trace hidden or misappropriated assets that show losses in their businesses, detect money laundering, and inform the relevant law authorities.
- A skilled tax accountant will help a company adhere to the tax rules and regulations and file tax forms and other necessary documents with the tax authorities on time to avoid tax penalties.
Saying that accountants have limited scope in today’s world is incorrect. These are only a few of the services offered by an accountant. Some of the services that one will learn in this course which have a high demand and are very lucrative are mentioned here: the top
- Tax Accountant:
Tax accountants are required by different companies, big or small, to ensure that their company adheres to the prevailing tax laws and regulations, files tax returns on time, and collects all the financial documents required as per state, national, or international laws. You can also work as a tax accountant for a US-based company by freelancer on various freelancing platforms like Fiverr, Upwork, etc.
The average pay of a tax accountant in the USA is $64,365 as of March 26, 2024, but the range can fall between $57,943 and $71,796.
This screenshot shows that the client’s company is located in Wyoming and is looking for a CPA who can file its taxes. The hourly rate is $15 – $35.
- Corporate Compliance Officer
A corporate compliance officer ensures that a company abides by legal requirements, by-laws, policies, and other regulatory requirements, whether for the external or internal business environment. He also ensures that all document filings, decisions, and tasks comply with the financial laws of the state.
If you possess the required skills, you can work as a compliance officer in a company to ensure that the company follows all external and internal regulations and by-laws. The average salary of a corporate compliance officer in the USA was $119,900 as of March 26, 2024, but the range can fall between $94,765 and $151,893, depending on various factors.
The screenshot shows that the client is willing to pay $20 – $35 per hour for a project similar to corporate compliance.
- Accounts Payable manager
The Accounts Payable manager handles a company’s owed bills and invoices and ensures the company’s accounts payable department. As an account payable manager, you need to adhere to all policies, rules, and regulations. The primary tasks of the Account payable manager are to check and examine payroll transactions, review and verify invoice data, give payment approval, ensure timely payment of vendor invoices and expense vouchers, etc.
There is a vast opening for this position in the USA. The pay scale varies from company to company. If you work in a tier-1 firm, you will be paid more than a tier-2 or tier-3 firm. The salary may go as high as $104,986.
A screenshot showing that the client is willing to pay $7-$9 per hour for bookkeeping.
Another screenshot shows the client is willing to pay $5- $25 per hour to those who know Quickbooks.
- Certified Financial Planner
A Certified Financial Planner formally recognises expertise in financial planning, taxes, insurance, estate planning, and retirement saving. They help individuals and companies plan their finances, especially retirement planning, insurance, investment planning, etc.
The salary of a CFP is as low as $79,990 and as high as $175,468 per year.
The above screenshot shows that the company is looking for a certified financial planner and is offering a salary of up to $120,000 plus other benefits.
- Auditor:
An auditor is a person or company authorized to review and verify financial statements and ensure that companies comply with tax laws. He protects an entity or business organization from fraud by pointing out discrepancies in the accounting process and standards. He audits the financial documents regularly to avoid such discrepancies and thus provides an accurate and fair value for the entity or business organization.
Working as an auditor is also a very rewarding experience. You will learn a lot, and it is also a very reputable job. The average salary of an auditor is $477,965 per year.
The screenshot shows that the client is willing to pay a fixed amount of $300 to conduct a thorough audit of the financial statements.
- Forensic Accountants:
They are experienced auditors, accountants, and investigators hired by individuals and companies to detect possible fraud and misrepresentations in the company’s books of accounts or are hired to prevent fraudulent activities from occurring.
The salary of a forensic accountant is $83,058 per year.
The screenshot shows the client is looking for a forensic accountant trainee willing to pay $15.95 per hour.
- Risk Analysts:
Risk analyst is also a great career choice for someone who has skills in US Accounting and bookkeeping. The major role of a risk analyst is to assist companies and individual entities in reducing the liabilities associated with business decisions by analyzing and examining the prevailing market conditions and financial data. Based on this, they provide advice to the company or individual entity. This type of work allows businesses to stay financially fit and sound.
The average salary package of a risk analyst is $87,951 per year.
The screenshot shows a job post for a risk analyst, and the hourly rate is $10-$95.
- Budget Analyst:
Budget analysts are responsible for keeping track of incoming cash flow. Budget Analysts analyze their company’s spending to ensure budget allocations are met. Budget analysts also keep track of individual entities’ expenditures to improve future investment decisions. In other words, they determine when, how, where, and how much a company should spend to meet its financial goals. They make sure that the company’s funds are used effectively and efficiently.
The average salary of a budget analyst is around $71,656 per year. However, it may vary depending on industrial standards and other factors.
The above screenshot shows the job posted for a budget analyst. The recruiter is offering an hourly compensation of $25- $31.
- Director of Finance:
A Director of Finance is responsible for examining a company’s financial operations and financial planning to ensure the smooth functioning of its finances. This involves analyzing and assessing financial markets, identifying solutions to financial issues, and preparing reports on these matters.
A director of Finance can be one of the most high-paying jobs. The average package for this position is $103,995 per year, but this may vary from company to company.
The screenshot above shows the client is willing to pay $15-$50 per hour to work as a finance director.
- Accounting software developer:
Accounting software developers are responsible for creating and developing accounting software according to the needs and requirements of businesses. This software will be used by the company to manage and record its finances effectively and efficiently. They also provide updates to this accounting software to ensure its smooth functioning and that the company does not encounter any obstacles that may hinder its growth and progress.
Based on their experience, knowledge, and qualifications, they can earn an average annual salary of around $108,896.
The screenshot shows that the client is willing to pay $250 for developing accounting software for manufacturing industries.
These are some of the high-paying assignments that you can work on to get hands-on practice and start becoming financially independent.
There are numerous opportunities available to work as a US accountant, provided you possess all the relevant skills, have good track records, good networking, and a strategic approach.