WEBVTT

1
00:00:01.233 --> 00:00:04.333
What's the difference between 
an accountant and an auditor?

2
00:00:04.333 --> 00:00:07.533
Basically, accountants keep track 
of an organization’s money, 

3
00:00:07.533 --> 00:00:09.399
and auditors check their work.

4
00:00:09.400 --> 00:00:13.000
But there's much more to the work 
than simply balancing the books.

5
00:00:13.000 --> 00:00:17.533
These financial professionals make sure 
the organization’s finances operate properly. 

6
00:00:17.533 --> 00:00:21.333
They are involved in analyzing 
financial information and records,

7
00:00:21.333 --> 00:00:26.066
and preparing reports related to budgeting,
cost control, employee compensation, 

8
00:00:26.066 --> 00:00:29.599
new product development, 
and of course... calculating taxes.  

9
00:00:29.600 --> 00:00:33.166
If money's involved, accountants 
and auditors are too. 

10
00:00:33.166 --> 00:00:36.666
In fact, so many areas need 
accounting and auditing services

11
00:00:36.666 --> 00:00:39.032
that many professionals opt to specialize. 

12
00:00:39.033 --> 00:00:43.099
Some become tax specialists. 
Others become employee benefits experts,

13
00:00:43.100 --> 00:00:46.800
while still others concentrate on 
preparing the income statements 

14
00:00:46.800 --> 00:00:50.233
and balance sheets every 
publicly-held corporation must file.

15
00:00:50.233 --> 00:00:53.999
Auditors and accountants work 
in a wide range of industries – 

16
00:00:54.000 --> 00:00:58.333
from accounting companies to hospitals, 
insurance firms to manufacturing. 

17
00:00:58.333 --> 00:01:01.866
To take full advantage of the many 
opportunities for accountants and auditors,

18
00:01:01.866 --> 00:01:04.999
you need to have at least 
a bachelor's degree in accounting.

19
00:01:05.000 --> 00:01:08.100
To become a "Certified Public Accountant" or "CPA,"

20
00:01:08.100 --> 00:01:12.800
in many states you will need 150 hours 
of college coursework to qualify 

21
00:01:12.800 --> 00:01:15.133
to take the state licensing exam.

22
00:01:15.133 --> 00:01:17.366
And, as long as there is money to spend, 

23
00:01:17.366 --> 00:01:19.532
accountants and auditors will be needed 

24
00:01:19.533 --> 00:01:22.199
to make sure it’s accurately recorded.