If you are looking for a degree that can land you a good job, a high degree of job security, and available options when it comes to finding an employer, an accounting degree could be a great choice for you. There is a price to be paid for the popularity of accounting roles though, as the work is not always easy, there can be a high degree of detail oriented work involved, and most of the duties involved require a rather sedentary style of work. Accounting is largely the understanding, tracking, and reviewing of how the financial side of a business or businesses works.
As an accountant, you will often find yourself involved in, and responsible for, ensuring the proper documentation, tracking, and analyzing of financial matters related to the overall financial operations of an organization. COURSEWORK While degree programs and course titles vary between institutions, there is certain coursework that is often common among accounting degrees. Expect to find curriculum relating to general accounting, financial accounting, managerial accounting, finance, taxation, economics, and auditing.
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Depending on the program in which you enroll, you might be required to take certain specialized courses or coursework revolving around business related subject matter such as communications, negotiations, and business law. JOB PROSPECTS The job prospects for those graduates with accounting degrees are often positive. There are few times when companies aren’t in need of accountants. As we’ve seen with the recent financial crisis, when times are good, accountants are often needed to handle an increased amount of business income, help direct cash flow, and look for innovative ways to invest or disburse money.
When times are tough, accountants are often needed for restructuring purposes, to help find ways of cutting expenses, or to aid in the implementation of new policies and directives. ADVANCEMENT Advancement opportunities within accounting careers are often widely available and vary greatly between industries and experience. Graduates will likely find that a wider array of advancement opportunities become available to them if they become a certified public accountant, also known as a CPA.
Not only can becoming a CPA open a broader variety of positions to an accountant, it can significantly increase the desirability of the accountant to prospective employers as well increase the rate of pay being offered for accounting work. In some instances, companies will hire accountants with the expectation of the accountant working toward, and passing the CPA exam, and may even offer assistance with paying for additional coursework needed for this certification. Many people also get an accounting degree online to accelerate their career. | |
There are a LARGE number of jobs for accounting grads. In fact, it probably is one of the best fields for immediate, high paid employment around. What is interesting about accounting, unlike that of other fields like engineering and science, is that accountants are needed in both booming economies and in recessionary economies. 2. What can I do with accounting if I don’t want to practice accounting? People seem to ask whether they should major in finance or some other area of business. Without question, an accounting major opens up more opportunities that that of any other business major.
You not only can practice accounting, but accountants are found in many areas of management, and also found in the financial sector. Many folks think that majoring in finance is the major ticket to investment banking. This isn’t necessarily true. From what I have seen, accountants, who do very well in school, have as great and maybe even a better shot at investment banking jobs. Accounting enables you to understand the inner workings of business. It is truly the language of business. Thus, many folks in top management have accounting backgrounds. 3. What do I need to get a job with the Big 4 or top consulting firm?
For the Big Four, you usually need an accounting degree PLUS grades of at least a 3. 3+ overall and in accounting. Moreover, the higher your grades, the better the chance of an interview. Consulting firms also like accountants; however, they will also take folks from other majors as long as you have at least a 3. 5+ and/or attend a top named school such as UVA, IVY etc. 4. Should I go to the highest ranked schools for accounting? This question seems to be asked in one way or another many times and is probably the most frequently asked question about accounting.
Answer: As long as a school is accredited ( AACSB accreditation and regional accreditation), it DOESN’T MATTER which school you attend. The reason is that the State Boards of Accountancy mandate the curriculum. Thus, from school to school, probably 80% or more of the courses taken will be the same. Even the books used are usually the same. Thus, going to Wharton, vs. University of Texas, vs. UVA, vs. Baruch College vs. Maryland will probably not increase your job opportunities that much from school to school for accounting jobs. Moreover, the pay is fairly set among starting accounting jobs.
Attending a top, name school might get you a few thousand dollars more to start ( and I mean only a few) ,but it usually evens out among school. You should understand the process: Accounting firm partners usually interview at their local schools. Thus, if you want to live and work in Memphis, Tennessee ( as an example), you probably have an edge going to college in Tennessee than at University of Texas. The same can be said about NY schools. Again, for accounting, it won’t make a difference whether you attended Stern ( NYU) or Baruch College.
I should note that there is one exception to what is noted above. Corporations ( that aren’t accounting corporations), tend to interview in greater numbers at the better schools. Thus, in that way it might make a difference. However, for accounting jobs with accounting firms, the school is irrelevant as long as it is accredited. 5. What is majoring in accounting like? Accounting is a surprisingly tough major. People think that because the math isn’t that sophisticated, it should be a snap. Nothing can be further from the truth! First, accounting is akin to living an SAT all of your life.
There is constant problem solving all the time. However, what makes it hard is that it is more akin to law. You have to know reams of information and, most importantly, learn to apply this information to practical problems. Moreover, accounting tends to be a “weed-out” major. Accounting is not known for grade inflation ,which is akin to engineering. At many schools, it isn’t unusual to have a 50% attrition rate among kids who started off in accounting. Some schools, such as Towson University, even have a special comprehensive test that must be passed in order to receive your degree.
Trust me: I don’t care if you had all 800s on your SATS, you will find accounting challenging. 6. What are the requirements for graduation. Generally, you would take 24 credits in accounting which comprise courses in intro accounting ( two courses), cost accounting, two courses in tax, two to three courses in intermediate accounting, advanced accounting, and accounting information systems. Accounting students also take courses in economics, statistics (usually two courses),management, marketing, plus the usual load of liberal arts.
As you can see, they get a very broad base of business subjects, which makes them eminently employable. Also, in order to take the CPA, you must have 150 credits. This means that you need 5 years as an undergrad or you can get a masters after you finish your undergraduate degree. Interestingly, the extra thirty credits can be in anything. They don’t have to be accounting related. Thus, if you want to double major in sign language, economics, finance, you can for these extra credits. 7. What is the best preparation in high school? Surprisingly, I do NOT recommend that you take any accounting in high school.
You will get plenty of that in college. You should take a strong college preparatory program, which should include four years of math, English, history, economics, science etc. 8. How much money can I make in accounting? The answer varies by field and state. Starting accountants with strong GPAs can easily start at $57,000++ at the largest accounting firms and about $46,000 to $51,000 at the mid size firms,although many mid size firms are now paying what the top firms are paying in order to get the quality applicants. Usually the big 4, start folks at about $57,000 per year.
However, they don’t pay for overtime,which the mid-size firms do. Thus, the initial pay does tend to equalize among firms. Corporations tend to pay about $10,000 less to start. Miscellaneous: If you want a job in accounting, you really need to know that accountants are numbers oriented. Thus, the better your GPA, the better your chances. The higher your GPA,the better the chances with the better firms. However, GPA will only get you the interview. You must sell yourself and do well in the interview for you to be hired. Also, accountants are notoriously bad writers.
Lets face it, if they could write well, they might have majored in English. Thus, if you have good writing skills, emphasize that on your resume and interview. Most partners assume that a top notch accounting GPA proves decent problem solving skills and decent accounting knowledge. Having other skills such as strong speaking or writing skills will be a definite plus. Also, having a strong work ethic is crucial. If you are a hard worker, emphasize this on interviews. Finally, having good people skills always comes in handy when dealing with clients and partners. I hope that I have answered most of your questions.
There are many types of accountants, covering a wide range of the business world, becoming an accountant opens a wide range of career opportunities. I want to become an accountant because it’s something that I’m familiar with since I prepare tax returns. Math has always been my favorite subject I enjoy working with numbers. Accountants help to ensure that firms run efficiently, taxes are paid properly and on time and public records are kept accurately. They analyze financial information for all different types of companies, individual clients, and Federal, State, and local governments.
Beyond doing the basic tasks; providing information to clients by preparing , analyzing, and verifying financial documents; some accountants offer budget analysis, financial and investment planning, information technology consulting, and limited legal services. There are four major fields of accounting and auditing: public accounting, management accounting, government accounting, and internal auditing. Public accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients. Some public accountants decide to prepare tax returns while others offer advice in areas such as compensation.
Public accountants; many who are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms. Management accountants are responsible for budgeting, performance evaluation, cost management, and asset management. They analyze and interpret the financial information that corporate executives need to make sound decisions. Government accountants and auditors work in the public sector, maintaining and examining the records of the… Since I was in elementary school, numbers were fun to work with. It challenged me.
Since then I have looked for a career that I would interest me. When I thought of Accounting, the first thing that came to mind was a person that was considered trustworthy and had good standings with all type of people. I could myself as that type of person. An accountant also deals with people who need help with their financial problems. Such as in dealing with money that is received and spent, in other words trying to figure out how to balance the two. It reminds me of my mother, who as a single mother had to struggle with her finances. I felt a little responsible for the expenses of the house.
So I would always try to help her out by calculating the cost of an item when we went shopping. Usually reminding her how much money the item cost and if she really needed it. My mother encouraged me to save my money when she gave me a register as a gift for my tenth birthday. One of the persons that has influenced in my life was my grandfather. He loved me very much, and taught me a variety of things. He was not only a grandfather to me, I considered him more like a father that I never had. He achieved many things in his lifetime. He was a very successful person, always thinking big.
That’s a reason why he had twelve children and built the tallest building in Mexico City, at the time he was only twenty-eight years old. He never gave up on anything. Even when he was old and very sick, he would still encourage his grandchildren, especially me. He would feel proud when we accomplishment something, because we were a part of him. He would give each of his granddaughters 10 dollars every Sunday. Unlike my other cousins who would spend it oncandy or small toys by the end of the week. I knew that by saving up my money, I could buy something more valuable and eventually I bought myself a piano.
Which to this day I consider it a very valuable treasure, because I knew I had made a good decision in buying it. Since my childhood, my family has shown me a variety of good habits, one of them being common sense. In my opinion, in order to resolve different types of situations that occur in life, one must have ethical standards. Because having ethics is important in all types of field, but especially in accounting because it deals with large sums of money. There are many things that have happened in our society, because people have no ethical code or common sense to the problems that have happened in our world.
Many people have certain personalities that fit the kind of work they do. I consider myself a disciplined person and all the qualities of an accountant suit me well. Such as being a good listening and having ethics in order to help people in the future with their financial problems. Which is what a good accountant does. ince I was in elementary school, I enjoyed working with numbers. It challenged me. … had good standings among all types of people. An accountant also deals with people who need help with their financial problems — such as in dealing with money that is received and spent, and trying to figure out how to balance the two.
The notion of financial challenge reminds me of my mother, who as a single parent… One of the individuals that has significantly influenced in my life … This is true because having ethics is important in all types of field, but especially… Many people have personalities that fit the kind… I consider myself to be a disciplined person, and all the qualities of an accountant suit me well: good listening; ethics, and methodical thinking applied to help people in the future with their financial problems, which is what a good accountant does. My goal is to obtain a career in accounting.
Once I discovered my love for mathematics and realized that it is most definitely my strong point, I knew that accounting is the way to go. To prepare myself for what accounting will consist of I am taking two accounting and financial services classes this year. Now that I have learned more about accounting and the jobs offered, I hope to become a Certified Public Accountant (CPA). In order to become a CPA in the United States, it is necessary to sit for and pass the Uniform Certified Public Accountant Examination (Uniform CPA Exam); eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy.
The typical requirement is a U. S. bachelor’s degree, which includes a minimum number of qualifying credit hours in accounting and business administration with an additional 1 year study. Without a college education I would not meet the requirements to take the Uniform CPA Exam. Therefore a college education is mandatory to reach my career goal of becoming a CPA. I would suggest spending less space on the process of becoming a CPA and perhaps focus more on what else you will learn or benefit from college. Personal Career Development Essay
Choosing the right major is complicated and so complex. There are some majors that sound interesting and some are boring. However, choosing the right major is important. It doesn’t only give you good paid job, but it serves as your key to a better future goal. Moreover, deciding what major you want to take takes time, you have to do some research about the course description; and where and what colleges or universities you can go to that focus best regarding the majors. Furthermore, opinion, help, guidance, and influence from other people affect the decision of what major you want to take.
However, even with the help and guidance of other people, there will still be obstacle that will come your way. You must ready to face it. First, knowing what your abilities are is important in choosing what you want to major. Before I decided to go into accounting, I was still so undecided. I change my decision from one major to another, and back and forth. I researched some well-known colleges and universities that offers good major, or sounds like a good major for me. Unlike for others, that it goes other way around. They decide what they want to major first; before they decide which school they would go.
However, after some unsuccessful research for colleges and universities, I tried to give a little twist or more effort in doing research. I tried to research in specific areas, like accounting, business administration, business management, nursing, fine arts, and even culinary. After doing many researched about different majors, I do some reflection about what are my strengths, and weaknesses; what are the qualities that I have that are suitable in a particular major. For example, For instance, Baruch College is part of the CUNY system.
However, Baruch in a business related college, unlike in Queens College, which also part of CUNY system offers more majors, and are not only open for students who are in the business related majors. In addition, after knowing my qualities, strength, and weaknesses, I talk to my parents. I want to know what they think, and what they feel if I took other major rather than accounting. Also, I want to know what are the advantage and disadvantage of choosing other majors; and came to take this major because. My aunt’s advice really affected on what my decision was.
She told me that being an accountant; you’ll be paid to just understand the data, advantages, and a good ideal work of many people. For example, my cousin who did his accounting internship in Manhattan pays him twenty-eight dollars an hour and after he graduates from college, the company is ready to hire him. Moving on, there are many people who had helped me along the way. First are my professors that work hard to give their student a better understanding of the concept. They also give so advice to students. Second is my family. They provide me good support to study hard to have a high GPA.
Moreover, obstacle is part of life, no matter where you go, no matter what you do, and you must face it. For me, one of the biggest obstacle that I faced is the attempting to succeed is having financial problem, like money for paying my tuition and fees, and money for books. However, I planned to overcome this problem by studying hard and maintaining my GPA high so I could apply for scholarship for the next semester. Moreover, my plan is to study harder, then prepare myself, and start to work my plan. The second biggest obstacle is managing my time, because I have to divide my time in households, school work, and social life, yet.
Right now I’m learning a time management skill, that hopeful will help me manage everything, and do everything that is need to be done. I know time management is easy things that can be learn in a day, but in my case, I need to be tough for a long while. Finally, I learned that in internship, I have to be able to manage my time wisely, communicating with many people, and organized everything. I plan to overcome this one by one, first to develop my time management skill, by setting dead line in every work. Second, communicating with others, I planned to take more communication class.
And lastly, organizing. I planned to fixed one thing at a time, because I realized that doing all the things in the same time, you wont finish anything. In conclusion, I believe it is important to develop all the weak skills in order to compete in this world, and also you should also know what you want to become in order to be successful. Accountants are always in demand and the fields or jobs that you can choose from are many. This means that there are a lot of opportunities for a career as an accountant and you will also have a lot of career choices. Every sector and every industry needs accountants.
The primary reason many end up in accounting is that it is a specific career. Courses taken in college provide specific training. Many students can walk out of college and apply the lessons immediately at a job. In contrast, a major in mathematics or economics does not train the student for a particular occupation. There is more flexibility, but less security. Accounting is an indoor job, not a lot of heavy lifting, other than briefcases. Today, computers play a large role, and accountants need to be able to use spreadsheets and word processing software. Accounting is not bookkeeping.
There is considerable challenge in identifying issues and solving mathematic problems. There is often interaction with others, which may include clients, peers or subordinates. Accounting is a rigorous profession. Most accountants, especially at the beginning of their career, are expected to work long hours and weekends. Staff at auditing firms, particularly, work many hours in their first years, doing basic accounting reviews on the road, in firms that tolerate their presence at best. The expression used at these firms “three years, up or out” embodies the experience.
Staff either get used to the hours, or move to other companies or professions. The work can be tedious and become monotonous. In a business, there is a regular month end closing process, and no vacations can be taken during this time, and weekends are expected. There is a stigma of the bean counter, applied by people in other professions. The role itself is a matter of monitoring and reporting on others, rather than creating business. It is not a good fit for an entrepreneurial person, or someone needing a lot of human interaction.
With the long hours and indoor work accomplished mostly by sitting, it is not a healthy occupation. Exercise is very important during those few non-work hours. An bachelor’s degree is required for most accountant jobs. Big 4 accounting firms now require an MBA or advanced accounting courses. Conclusion Through my research I have found that there are several benefits to choosing a career in accounting. Accounting Majors can expect a good salary, a challenging job, various job titles, a variety of responsibilities, and can find work in almost every industry.