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Career and Education Opportunities for Accountants in Detroit, Michigan

There is a wide variety of career and education opportunities for accountants in the Detroit, Michigan area. Currently, 34,290 people work as accountants in Michigan. This is expected to grow by 12% to 38,230 people by 2016. This is not quite as good as the national trend for accountants, which sees this job pool growing by about 21.6% over the next eight years. Accountants generally analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.

A person working as an accountant can expect to earn about $27 hourly or $58,020 annually on average in Michigan and about $28 per hour or $59,430 yearly on average in the U.S. as a whole. Compared with people working in the overall category of Accounting and Auditing, people working as accountants in Michigan earn more. They earn more than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: railroad accountant, cash accountant, and accounting consultant.

There are sixteen schools within twenty-five miles of Detroit where you can study to be an accountant, among seventy-three schools of higher education total in the Detroit area. Given that the most common education level for accountants is a Bachelor's degree, you can expect to spend about four years training to become an accountant if you already have a high school diploma.

CAREER DESCRIPTION: Accountant

Accountant video from the State of New Jersey Dept. of Labor and Workforce Development

In general, accountants analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.

Accountants ready or analyze accounting records or other financial reports to gauge accuracy and conformance to reporting and procedural standards. Finally, accountants design and document recordkeeping and accounting systems, making use of current computer technology.

Every day, accountants are expected to be able to deal with basic arithmetic problems. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

It is important for accountants to report to management regarding the finances of establishment. They are often called upon to establish tables of accounts and assign entries to proper accounts. They also analyze business operations and obligations, to project future revenues and expenses or to furnish advice. They are sometimes expected to survey operations to ascertain accounting needs and to recommend, design, or maintain solutions to business and financial problems. Somewhat less frequently, accountants are also expected to compute taxes owed and ready tax returns, ensuring adherence to payment, reporting or other tax requirements.

Accountants sometimes are asked to advise management about issues such as resource utilization and the assumptions underlying budget forecasts. And finally, they sometimes have to appraise and inventory real property and equipment, recording data such as the description, value and location of property.

Like many other jobs, accountants must be thorough and dependable and have exceptional integrity.

Similar jobs with educational opportunities in Detroit include:

  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Accountant Training

University of Michigan-Ann Arbor - Ann Arbor, MI

University of Michigan-Ann Arbor, , Ann Arbor, MI 48109. University of Michigan-Ann Arbor is a large university located in Ann Arbor, Michigan. It is a public school with primarily 4-year or above programs. It has 40,618 students and an admission rate of 42%. University of Michigan-Ann Arbor has a master's degree program in Accounting which graduated fifty-four students in 2008.

University of Michigan-Dearborn - Dearborn, MI

University of Michigan-Dearborn, 4901 Evergreen Rd, Dearborn, MI 48128-1491. University of Michigan-Dearborn is a medium sized university located in Dearborn, Michigan. It is a public school with primarily 4-year or above programs. It has 8,311 students and an admission rate of 61%. University of Michigan-Dearborn has a bachelor's degree and a master's degree program in Accounting which graduated fifty-eight and twelve students respectively in 2008.

Wayne State University - Detroit, MI

Wayne State University, 656 West Kirby Street, Detroit, MI 48202. Wayne State University is a large university located in Detroit, Michigan. It is a public school with primarily 4-year or above programs. It has 31,025 students and an admission rate of 79%. Wayne State University has bachelor's degree, postbaccalaureate certificate, and master's degree programs in Accounting which graduated ninety-three, three, and twenty-five students respectively in 2008.

Eastern Michigan University - Ypsilanti, MI

Eastern Michigan University, , Ypsilanti, MI 48197. Eastern Michigan University is a large university located in Ypsilanti, Michigan. It is a public school with primarily 4-year or above programs. It has 22,137 students and an admission rate of 75%. Eastern Michigan University has a bachelor's degree and a master's degree program in Accounting which graduated two and seventy-one students respectively in 2008.

Baker College of Allen Park - Allen Park, MI

Baker College of Allen Park, 4500 Enterprise Dr, Allen Park, MI 48101. Baker College of Allen Park is a small college located in Allen Park, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 2,548 students. Baker College of Allen Park has an associate's degree and a bachelor's degree program in Accounting which graduated fifteen and ten students respectively in 2008.

Baker College of Auburn Hills - Auburn Hills, MI

Baker College of Auburn Hills, 1500 University Dr, Auburn Hills, MI 48326-2642. Baker College of Auburn Hills is a small college located in Auburn Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,848 students. Baker College of Auburn Hills has an associate's degree and a bachelor's degree program in Accounting which graduated twenty-four and thirteen students respectively in 2008.

Cleary University - Ann Arbor, MI

Cleary University, 3601 Plymouth Rd, Ann Arbor, MI 48105-2659. Cleary University is a small university located in Ann Arbor, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 723 students. Cleary University has a bachelor's degree and a master's degree program in Accounting which graduated eight and zero students respectively in 2008.

Baker College of Clinton Township - Clinton Township, MI

Baker College of Clinton Township, 34950 Little Mack Ave, Clinton Township, MI 48035. Baker College of Clinton Township is a medium sized college located in Clinton Township, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 5,666 students. Baker College of Clinton Township has an associate's degree and a bachelor's degree program in Accounting which graduated twenty-three and seventeen students respectively in 2008.

Oakland University - Rochester Hills, MI

Oakland University, , Rochester Hills, MI 48309-4401. Oakland University is a large university located in Rochester Hills, Michigan. It is a public school with primarily 4-year or above programs. It has 18,169 students and an admission rate of 78%. Oakland University has a bachelor's degree and a master's degree program in Accounting which graduated zero and thirty-seven students respectively in 2008.

University of Detroit Mercy - Detroit, MI

University of Detroit Mercy, 4001 W McNichols Rd, Detroit, MI 48221-3038. University of Detroit Mercy is a medium sized university located in Detroit, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,725 students and an admission rate of 64%. University of Detroit Mercy has a bachelor's degree program in Accounting which graduated seven students in 2008.

Madonna University - Livonia, MI

Madonna University, 36600 Schoolcraft Rd, Livonia, MI 48150-1176. Madonna University is a small university located in Livonia, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,015 students and an admission rate of 76%. Madonna University has a bachelor's degree program in Accounting.

Rochester College - Rochester Hills, MI

Rochester College, 800 W Avon Rd, Rochester Hills, MI 48307. Rochester College is a small college located in Rochester Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 883 students and an admission rate of 83%. Rochester College has a bachelor's degree program in Accounting which graduated one student in 2008.

Walsh College of Accountancy and Business Administration - Troy, MI

Walsh College of Accountancy and Business Administration, 3838 Livernois, Troy, MI 48083-5066. Walsh College of Accountancy and Business Administration is a small college located in Troy, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,109 students. Walsh College of Accountancy and Business Administration has a bachelor's degree and a master's degree program in Accounting which graduated seventy-seven and ninety-two students respectively in 2008.

Marygrove College - Detroit, MI

Marygrove College, 8425 W McNichols Rd, Detroit, MI 48221-2599. Marygrove College is a small college located in Detroit, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,879 students and an admission rate of 43%. Marygrove College has an associate's degree and a bachelor's degree program in Accounting and Business/Management which graduated zero and four students respectively in 2008.

Oakland Community College - Bloomfield Hills, MI

Oakland Community College, 2480 Opdyke Rd, Bloomfield Hills, MI 48304-2266. Oakland Community College is a large college located in Bloomfield Hills, Michigan. It is a public school with primarily 2-year programs and has 24,957 students. Oakland Community College has an associate's degree program in Accounting and Business/Management which graduated seventeen students in 2008.

University of Phoenix-Metro Detroit Campus - Troy, MI

University of Phoenix-Metro Detroit Campus, 5480 Corporate Drive Suite 240, Troy, MI 48098-2623. University of Phoenix-Metro Detroit Campus is a small university located in Troy, Michigan. It is a private for-profit school with primarily 4-year or above programs and has 1,995 students. University of Phoenix-Metro Detroit Campus has a bachelor's degree program in Accounting which graduated twelve students in 2008.

CERTIFICATIONS

Accredited Business Accountant/Accredited Business Advisor: This credential is for practitioners who specialize in the needs of small-to-mid-size businesses and in financial services to individuals and families.

For more information, see the Accreditation Council for Accountancy and Taxation website.

Accredited Tax Advisor: This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.

For more information, see the Accreditation Council for Accountancy and Taxation website.

Certified Forensic Accountant: Forensic accountants are professionals who use a unique blend of education and experience to apply accounting, auditing, and investigative skills to uncover truth, form legal opinions, and assist in investigations.

For more information, see the American College of Forensic Examiners website.

Associate in Risk Management: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Premium Auditing: The Associate in Premium Auditing program provides a sold foundation in essential auditing, accounting, and insurance principles.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management for Public Entities: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Personal Financial Specialist: CPAs who specialize in personal financial planning can earn a specialist's designation, the Personal Financial Specialist (PFS).

For more information, see the American Institute of Certified Public Accountants website.

Certified Public Accountant: Certified Public Accountant candidates must pass a national exam certifiying that they are eligible to be licensed in the state(s) of their choosing.

For more information, see the American Institute of Certified Public Accountants website.

Biomedical Auditor Certification: The Certified Biomedical Auditor is a professional who understands the principles of standards, regulations, directives and guidance for auditing a biomedical system while using various tools and techniques to examine, question, evaluate and report on that system's adequacy and deficiencies.

For more information, see the American Society for Quality website.

Certified Treasury Professional Associate: We recognize the accomplishments of these full-time students who successfully completed the Corporate Treasury Management program at their college/university and passed the CTP exam to earn the Certified Treasury Professional Associate credential.

For more information, see the Association for Financial Professionals website.

Certified Fraud Examiner: The ACFE established and administers the Certified Fraud Examiner (CFE) designation.

For more information, see the Association of Certified Fraud Examiners website.

Certified Energy Auditor: The Certified Energy Auditor (CEA) certification identifies professionals as having the required knowledge and experience needed to succeed in the growing field of energy auditing.

For more information, see the Association of Energy Engineers website.

Certification in Distressed Business Valuation: The Certification in Distressed Business Valuation (CDBV) is a unique valuation certification program designed to train and accredit professionals who value distressed assets, including distressed and/or bankrupt companies.

For more information, see the Association of Insolvency and Restructuring Advisors website.

Certified Bank Auditor: The purpose of BAI Center for Certification - Certified Bank Auditor® (CBA) Continuing Professional Education (CPE) Program is to promote professional development and to provide a means for recognizing CBAs to keep current with industry changes or furthering their own development in banking, technology, auditing, or other disciplines that contribute to a CBA?s growth and development.

For more information, see the BAI Center for Certification website.

International Certificate in Banking Risk and Regulation: The role of risk management is becoming more important as both banks and supervisors around the world increasingly recognize that sound risk management practices are vital, not only for the success of individual banks, but also for the banking system as a whole.

For more information, see the Global Association of Risk Professionals website.

Stay Sharp Program - Defeating Rogue Access Points: Security professionals who are concerned about the weaknesses of wireless networks.

For more information, see the Global Information Assurance Certification website.

Certified Internal Auditor: The Certified Internal Auditor (CIA) designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the internal auditing field.

For more information, see the Institute of Internal Auditors website.

Accredited Insurance Examiner: An Accredited Insurance Examiner (AIE) is awarded to insurance regulatory professionals who have been extensively trained in one of two primary fields of insurance regulation, Property and Casualty or Life and Health.

For more information, see the Insurance Regulatory Examiners Society website.

Bookkeeper NRB: Bookkeeping, accounting, and auditing clerks may apply for our examination with qualified experience or education.

For more information, see the National Center for Competency Testing website.

Certified Valuation Analyst: The primary goal of CVA certification is to provide you with information that will serve as a solid foundation for your professional valuation endeavors, whether or not you plan to pursue a designation.

For more information, see the The National Association of Certified Valuation Analysts website.

LICENSES

Casino Accountant

Licensing agency: Michigan Department of Treasury
Address: Michigan Gaming Control Board, Albert Kahn Building-Third Floor, 7430 Second Ave., Detroit, MI 48202

Phone: None
Website: Michigan Department of Treasury Michigan Gaming Control Board

Certified Public Accountant

Licensing agency: Department of Consumer and Industry Services
Address: Bureau of Commercial Services, Board of Accountancy, 2502 Wooklake Circle, Okemos, MI 48864

Phone: (517) 241-9242
Website: Department of Consumer and Industry Services Bureau of Commercial Services Board of Accountancy

LOCATION INFORMATION: Detroit, Michigan

Detroit, Michigan
Detroit, Michigan photo by Durova

Detroit is located in Wayne County, Michigan. It has a population of over 912,062, which has shrunk by 4.1% in the past ten years. The cost of living index in Detroit, 86, is well below the national average. New single-family homes in Detroit are priced at $108,900 on average, which is well below the state average. In 2008, eighty-five new homes were built in Detroit, down from one hundred fifty-four the previous year.

The three big industries for women in Detroit are health care, educational services, and transportation equipment. For men, it is transportation equipment, construction, and administrative and support and waste management services. The average commute to work is about 28 minutes. More than 11.0% of Detroit residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.2%, is lower than the state average.

The unemployment rate in Detroit is 27.0%, which is greater than Michigan's average of 14.3%.

The percentage of Detroit residents that are affiliated with a religious congregation, 37.7%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Muslim Estimate and the Lutheran Church.

Detroit is home to the Memorial Park Marina and the Detroit Golf Club as well as Chene Park and Mallett Playground. Visitors to Detroit can choose from Corktown Inn, Clark's Motel and Days Inn of Downtown Detroit for temporary stays in the area.