Kayla Nguyen

20 August 2019
Career/Industry Forecast

Job Title: Accountant/Actuary

Job Description:

● Accountant

○ Constructing and interpreting financial reports and balance sheets for

business and/or individuals; analyzing financial commitments necessary to

predict future trends.

● Actuary

○ Analyze the financial consequences of risk and uncertainty, allowing

companies to gauge the likelihood of an event regarding investments,

demand, accidents, and current trends.

Training, Education, and Certification:

● Bachelor's degree in mathematics, finance, or economics

○ *accounting, statistics

● Internships

● Certifications

○ Certified Public Accountant (CPA) credential required

○ Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS)

College or Post High School Programs and Recommended High School Courses:

● High School

○ AP Statistics and AP Calculus, take a math course every year

○ Computer Science, develop computer skills

● College
Kayla Nguyen
20 August 2019
○ Linear Algebra, Statistics and Data Analysis, Probability,

Inferential Statistics, Introduction to Financial Accounting,

Economics, Finance

National and Local Professional Organizations:

● Accountant

○ American Association of Finance and Accounting, Institute of Internal

Auditors, American Accounting Association

● Actuary

○ Society of Actuaries, Casualty Actuarial Society, American Academy of

Actuaries

Related Areas:

● Budget Analyst, Auditors, Financial Examiners, Financial Analyst,

Mathematician/Statistician, Insurance Underwriters

Salary:

● Accountant

○ First year: up to $70K; 10 years: $150K+

● Actuary

○ First year: $58K; 10 years: $150K+

Career Outlook:

● The employment of accountants is estimated to increase 10% by 2026, due to the

connection to overall health of the economy.

● The employment of actuaries is estimated to increase 22% by 2026, which is

much faster than most occupations.

Kayla Nguyen
20 August 2019
Terminology:

● liability, market value, annuity, asset smoothing, mortality assumption, present

value, portability, rate of return, control cycle, bull market, casualty insurance,

coinsurance, combined ratio

Questions

1. How many types of transactions are there in accounting and what are they?

2. What is the most preferred platform/software to work on for the finance industry?

3. What are the common errors of accounting?

4. What is an actuarial report?

5. What are the advantages of a statistics-based career?

6. What do the hours look like?

7. What are the risks in choosing this field?