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|Overview:||Property accountants identify and keep records about value, location & descriptions of company owned or leased equipment, buildings and other physical assets. They conduct audits to assure equipment is maintained and costs allocated for tax purposes.|
|Duties:||Property accountants collect and analyze all data regarding an organization's income and expenses from building, equipment and land holdings. They calculate annual depreciation for tax purposes.
Property accountants advise an organization's executives which properties are producing revenue and which are losing money. They make suggestions regarding which properties should be sold and determine the asking price. They decide upon methods to report the final depreciation of properties in order to minimize the amount of taxes paid. They also keep accurate records of all properties owned.
Property accountants recommend to an organization's management what kinds of properties to invest in for the future based on current economic trends and tax laws and suggest the best accounting methods to use.
A.A.S. Management: Marketing Concentration
A.S. Business Administration (Accounting and Marketing)
|Job Outlook:||Employment of property accountants is expected to grow faster than average through 2018 because the number of property owners will increase, these workers to set up books, prepare taxes, and provide management advice. An increased need will arise from a greater emphasis on accountability, transparency, and controls in reporting.|
|Salary Range (National Average):||$43,000 to $47,000|
|Education Level:||Typically, a Bachelor’s Degree from a 4-year college (some are 5 years) is required to be considered for this occupation.|
|Additional Training/Education:||Most public accounting firms, business organizations and government agencies require applicants for accounting and internal audit positions to have at least a bachelor's degree in accounting. Most employers require that applicants be familiar with computer based accounting systems. Assistant postions require an associate degree.|
Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreements with other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services Advisor to fully understand the opportunities available through study in their degree program.