Accredited Business Accountant Salary: $78,546

What is an Accredited Business Accountant?

An accredited business accountant (ABA) is a professional who has met the educational and experience requirements set by the Accreditation Council for Business Accountancy and Taxation (ACBAT). ABAs are recognized for their expertise in accounting, taxation, and business consulting.

How Much Do Accredited Business Accountants Make?

According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for accountants and auditors was $71,550 in May 2021. However, ABAs can earn significantly more, especially those with experience in specialized areas such as tax planning or forensic accounting.

Factors that Affect an ABA's Salary

Several factors can affect an ABA's salary, including:

• Education and Experience: ABAs with advanced degrees and experience in high-demand fields can earn higher salaries.
• Location: ABAs working in large metropolitan areas tend to earn more than those in rural areas.
• Industry: ABAs working in the healthcare or financial services industries can earn higher salaries.
• Company Size: ABAs working for large corporations tend to earn more than those working for small businesses.
• Certifications: ABAs with additional certifications, such as the Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) designations, can earn higher salaries.

How to Become an Accredited Business Accountant

To become an ABA, you must:

1. Earn a Bachelor's Degree: The first step is to earn a bachelor's degree in accounting or a related field.
2. Pass the ABA Exam: Once you have a bachelor's degree, you can take the ABA exam. The exam is administered by ACBAT and covers a wide range of accounting and business topics.
3. Meet the Experience Requirement: After passing the ABA exam, you must complete at least 2,000 hours of work experience in the field of accounting.
4. Apply for Accreditation: Once you have met the education and experience requirements, you can apply for accreditation from ACBAT.

Job Outlook for Accredited Business Accountants

The job outlook for ABAs is expected to be positive over the next decade. The BLS projects that the employment of accountants and auditors will grow by 6% from 2021 to 2031. This growth is attributed to the increasing need for financial professionals as businesses become more complex and regulated.

Conclusion

An accredited business accountant can be a rewarding career path. ABAs are in high demand and can earn salaries well above the national average. If you have a passion for accounting and a desire to make a difference in the business world, an ABA career could be right for you.

Frequently Asked Questions

What are the benefits of becoming an ABA?

Becoming an ABA can provide several benefits, including:

• Increased Earning Potential: ABAs can earn higher salaries than non-accredited accountants.
• Enhanced Career Opportunities: ABAs are in high demand and have access to a wider range of job opportunities.
• Increased Credibility: ABAs are recognized for their expertise in accounting and business.
• Professional Development: ABAs have access to ongoing professional development opportunities, including conferences and webinars.

What industries hire ABAs?

ABAs are hired by a variety of industries, including:

• Healthcare
• Financial Services
• Manufacturing
• Retail
• Education
• Government

What are the steps to becoming an ABA?

The steps to becoming an ABA are as follows:

1. Earn a Bachelor's Degree: Get a bachelor's degree in accounting or a related field.
2. Pass the ABA Exam: Take and pass the ABA exam administered by ACBAT.
3. Meet the Experience Requirement: Obtain 2,000 hours of work experience in accounting.
4. Apply for Accreditation: Apply for accreditation from ACBAT.

What is the salary range for ABAs?

The salary range for ABAs varies depending on factors such as education, experience, and industry. According to the U.S. Bureau of Labor Statistics, the median annual salary for accountants and auditors was $71,550 in May 2021. However, ABAs can earn significantly more, especially those with experience in specialized areas.

Additional Resources

• Accreditation Council for Business Accountancy and Taxation (ACBAT)
• U.S. Bureau of Labor Statistics Occupational Outlook Handbook: Accountants and Auditors

Tables

Table 1: Median Annual Salaries for Accountants and Auditors by Education Level

Table 2: Median Annual Salaries for Accountants and Auditors by Industry

Table 3: Median Annual Salaries for Accountants and Auditors by Location

Table 4: Median Annual Salaries for Accountants and Auditors by Certification