Did you know a bookkeeper can earn up to $55,500 to $75,000 a year working for small business bookkeeping services?
According to TheSmartMoney, finance positions are in high demand, and the salaries for these financial jobs continue to steadily rise. Every business needs an accountant; there will always be a need for them in every facet of business.
AICPA short for (American Institute of Certified Public Accounts) conducted a report which showed the demographic make up of gender in accounting related positions employed at all CPA firms. 56% of employees were male, while females where the minority making up 44% of employees.
In 2013 alone, CPA firms hired over 40,000 college graduates. This trend continues to grow as are economy slowly recovers from the recession of 2008. Job security is the sole reason why majoring in accounting in college is one of the best investments you can make. It trumps other college majors with median salary, and average salary figures. The unemployment rate for an accounting graduate is 4.2%, almost 2 percentage points lower than the overall United States unemployment rate. Not bad huh?
Women in Accounting
But, the troubling statistic is that women only make up 11.4% of all Certified Financial Officers of Fortune 500 companies.
What’s even more disturbing is than that stat, is women of color only make up 16% -rounded- of all the women’s bachelors degrees in 2012.
In one study, women of color and different ethnicities cited various barriers to advancement, such as lack of similar role models, racial stereotypes, exclusion to or unable to get access to networks, and lack of ability to higher learning assignments. http://www.catalyst.org/knowledge/women-accounting
Hopefully this percentage continues to increase as accounting firms continue to hire and are looking to add more diversity to the work environment.
Accounting for Small Business
Now, it’s easier than ever for small business owners to create these once so called “complicated” financial statements. Not anymore. Outsourcing and the advancement of technology have made the accounting process it less demanding. There is a plethora of different accounting solutions that small businesses may now choose from.
Cloud based software
Cloud based accounting software is one of them. This seems to be the new accounting trend as of late. Software hosted on the cloud is relatively cheaper than more advanced programs such as Quickbooks and Microsoft dynamics. Freshbooks and Xeros are among the most popular cloud based systems that are stealing customers from competitors that offer offline programs. Customers who once used traditional desktop software are rapidly making the switch. The most attractive feature about cloud based software is the low up front costs. Freshbook’s for example, starts at a small fee of $19.95 a month, and Xero a measly $19.00 per month. Software such as these contain many applications that simplify the process when it comes to reporting, invoicing, inventory management, and purchase history. Small businesses generally don’t have room in their budget to constantly update their software. The vendor of the cloud applications deals with database back up and software upgrades so small business owners don’t have to.