Actuary vs. Accountant

Accountants have less focused financial roles. They may work independently for individual clients or internally at a company. Some tasks accountants perform include conducting payroll, managing investments and expenses, and accounting for internal finances such as transaction data. Accountants are responsible for keeping track of the finances of a company or individual. They also play crucial roles in tax duties for their clients.

Here are the key differences between an actuary and an accountant:

• Actuaries specialize in analyzing financial risks for companies or clients

• An accountant is a more common and general profession in terms of financial responsibilities and tasks

• On average actuaries have higher salaries than accountants

• Most actuaries complete a bachelor's degree in mathematics, actuarial science, statistics, or calculus. For certification, graduates must have a number of undergraduate credit hours in economics, statistics, business, and finance

• A bachelor's degree is required to enter the field of accounting and typical majors for accountants include business, finance, or accounting

• Many actuaries work for insurance companies, large corporations, or banks

• Most accountants either work in an accounting firm, within the finance department of a company, or independently for individual clients