Public v. Industry

What kind of accounting rock star are you?

Whether you want to go on tour, play nightly in the same jazzy joint or be a known musician about town—the field of accounting has a venue for you.

In the challenging, ever-evolving field of accounting, there are two main paths accountants take: public accounting or industry. Over the course of their career, an accountant may work in multiple roles in both areas, perhaps starting in public accounting and then working in an industry for a few years and returning to public accounting in a new specialty.

Public accountants work with a variety of clients, including corporations, governments, nonprofit organizations and individuals. They perform a range of accounting, auditing, tax and consulting, and tend to be Certified Public Accountants (CPAs).

By spending a lot of time with different kinds of clients and being able to look under the hoods of companies, public accountants really learn how businesses work. Public accounting also includes the specialty of forensic accounting, which covers investigating and interpreting white-collar crimes such as securities fraud and embezzlement; bankruptcies and contract disputes; and other complex and possibly criminal financial transactions, including money laundering by organized criminals.

Industry or management accountants (also called cost, managerial, industrial, corporate, or private accountants) record and analyze the financial information of the companies for which they work. In contrast to the broad experience of a public accountant, these accountants develop deep, specialized knowledge in their company's industry.

For more information about the roles of public and industry accountants, plus details on government accountants and the general work environment of the accounting profession, please read our Public Accounting & Industry document.