Despite these challenges, many professionals find fulfillment and opportunity in private accounting. At the end of the quarter, hours begin to pick up and the looming deadline of having financial information prepared can create a stressful period for the end of each of the four quarters in the corporate calendar. However, as far as day-to-day work is concerned, private accounting features a relatively stable schedule for most of the year and no or close to no business travel.

As for public accountants, they have unpredictable work environments and schedules. They work wherever a customer allows them to, and they are frequently under the strain of tight deadlines, which can lead to extended workdays. Within the accounting profession, two of the most popular branches of accounting are known as public accounting and private accounting (also known as industry accounting). At the most basic level public and private accountants are external or internal accountants, respectively. There are other career paths for accountants, but public and private accounting are two of the most popular branches of accounting.

Choosing the Right Path

It won’t be wrong to say that no business can survive without maintaining the accounts. Many people assume one accounting job is the same as the next, but these different areas of accounting make for job duties that are worlds apart. Everywhere you turn, people are making leaps into https://www.bookstime.com/ incredible, satisfying careers. Your friends are announcing new jobs on social media and your favorite blogs are constantly featuring stories of people who landed the job of their dreams. Wiley University Services maintains this website on behalf of Concordia University St. Paul.

Getting your accounting degree from Concordia will prepare you for accounting careers in business settings, government agencies, and nonprofit organizations. Employment in both the public and private accounting sectors is growing, so now is a great time to get started on your career with a quality education. Overall, public and private accounting are different aspects of the same field. The differences arise when students join the workforce and begin to apply the knowledge and skills they have learned. Public accounting offers specialization and the opportunity for much advancement in exchange for what some would consider higher stress levels. Accounting professionals will likely work in both the public and private sectors over the course of their careers.

Cons of Public Accounting

Private accounting, on the other hand, refers to the type of accounting where an accountant is employed by a single company or organization to handle and manage its internal financial matters. These accountants are responsible for daily transactions, public accounting financial management, budgeting, and cost analysis, among other tasks. Another consideration is that many accountants choose to launch their accounting careers in the public accounting space to gain experience before moving into private accounting.