Government Accounting

• Organize and maintain financial documents, reports, and data.
• Contribute to the budget development process.
• Monitor costs and expenses and make recommendations for resource allocation.
• Conduct data analysis to help identify trends and inform financial decisions.
• Review accounting records to evaluate accuracy and compliance with regulations.
• Create and distribute financial reports.

• Employment Numbers: In 2018, the Bureau of Labor Statistics (BLS) reported that 87,690 accountants and auditors worked in local and state government positions.
• Salary: The BLS reported that the median annual salary for accountants and auditors working for the government was $68,420 in 2018.
• Projected Growth: The demand for accountants is projected to increase by 10% across all industries between 2016 and 2026, according to the BLS.

• A bachelor’s or master’s degree in accounting or a related field is preferred by most employers, although some government positions may accept a bachelor’s degree in any field.
• Entry-level government positions usually require 1-3 years of related experience. Students can work toward this requirement by completing internships and other practical experiences.

• CPA: Earning a Certified Public Accountant credential requires passing an exam and providing documentation of education and prior experience. Most government agencies require or prefer to hire candidates with a CPA credential.
• CGAP: While not usually required, the Certified Government Auditing Professional credential may make candidates more competitive in the job market.

• Prepare financial records and reports for a government organization or a department within an organization.
• Oversee employees in the finance department.
• Analyze financial reports to determine where government organizations can cut costs and dedicate more funds.
• Review financial reporting systems and develop solutions for problems leading to inaccuracies and errors.
• Respond to questions and concerns from elected officials, citizens, and other government personnel concerning financial matters.
• Monitor employee payroll.

• Employment Numbers: In 2016, about 580,000 financial managers worked in the United States. The BLS projects that number to grow to 689,000 by 2026.
• Salary: In May 2018, financial managers made a median annual wage of $127,990, according to BLS data. Data also demonstrate that financial managers with the highest wages live on the East Coast, in places like Washington, D.C. and New York.
• Projected Growth: The number of financial managers is projected to increase by 19% between 2016 and 2026, according to the BLS.

• Financial managers need at least a bachelor’s degree. Relevant majors include finance, economics, and accounting. Prospective financial managers who aim to work in government positions should also take civics, political science, or government courses. Some employers prefer job candidates with master’s degrees.
• Typically, financial managers need at least five years of professional experience in roles such as accountant, financial analyst, or loan officer before becoming a financial manager. Working in a government role as an auditor or accountant can streamline the process of finding a role as a government financial manager.

• CFA: Financial managers do not need to obtain Chartered Financial Analyst certification to find a job; however, this certification increases competitiveness in the job market. Candidates interested in this credential need a bachelor’s degree and four years of professional experience. They must also pass three exams.
• CGFM: The Certified Government Financial Manager credential expands job opportunities. Candidates need two years of work experience and a bachelor’s degree. They must also pass three exams that cover skills related to government positions, such as financial reporting, internal controls, and budgeting.

• Conduct investigations through data analysis, interviews, and other intelligence-gathering techniques.
• Apply laws and regulations to individual cases and make recommendations.
• Prepare detailed written reports.
• Present evidence in court.

• Employment Numbers: The BLS reported that there were more than 100,000 detectives and criminal investigators working in local, state, and federal government agencies in 2018.
• Salary: Government pay tables determine salaries for treasury enforcement agents. Salaries vary by education and experience, as well as the type and location of a position. The BLS reports a mean salary of $72,340 for detectives and investigators at local government offices, $66,700 at state government offices, and $108,770 at federal offices.
• Projected Growth: Due primarily to budget constraints at all levels of government, hiring for tax examiners, collectors, and revenue agents is projected to decline by 1% between 2016 and 2026.

• Candidates need a bachelor’s or master’s degree in any field. IRS special agents need at least 15 credits in accounting and nine in a related subject, such as economics, business law, or finance.
• Candidates typically need three years of relevant experience to secure an enforcement agent position at the GS-5 level.

• CPA: The Certified Public Accountant credential demonstrates candidates’ expertise in the field, making them more competitive in the job market.

Government jobs, including accounting, can provide firm job security and benefits. Public sector jobs typically follow a predetermined ladder when it comes to raises and promotions, allowing employees to plan for the future.

Aspiring government accountants can find positions across specialties, including auditing, financial management, and budget analysis. Government employers often accept accountants with a bachelor’s degree, though some may prefer a master’s.

The government hires auditors at local, state, and federal levels. Top hiring agencies include the U.S. Government Accountability Office, the U.S. Securities and Exchange Commission, and the Internal Revenue Service.

On a day-to-day basis, government accounting tasks align closely with public accounting tasks. Government accountants manage financial data relative to schools, military, and other government agencies, while public accountants work for individuals and businesses.