Get the best accounting degree, learn about the field and major. Start studying accounting now! We’ll show you how to get a job as an accountant. For students wondering whether or not to major in accounting, this article will explore the pros and cons of a career in accounting.
Accounting is one of the most popular undergraduate degrees in the world. It’s also one of the most difficult. Find out if accounting is hard, what it takes to succeed in this major, and how it can prepare you for your future goals.
Is Accounting Hard to Learn?
At most universities, accounting majors are required to attend a financial accounting course. This is typically a class with upper-level courses like advanced bookkeeping and managerial accounting included. These are a few of the basics of accounting that you’ll learn in the course.
Money and banking
Value-added tax and government tax codes
Tax preparation, audits and recordkeeping
The Money Game, tax code and the dollar and the C-suite
Learn to think like an accountant
Now, let’s move onto the good stuff. Many accounting classes introduce students to the idea of accounting and its underlying concepts. The coursework in these courses include basic accounting concepts, but the concepts are much more intricate and much less straight-forward than what most college students are used to.
Accounting is an Academic Major
As a student pursuing an accounting major, you will be spending countless hours in classrooms, online or on the job.
The curriculum consists of many lecture and classroom sessions as well as practice quizzes and exams. Students receive certificates, letters of recommendation and may also learn how to be a CPA.
A major like accounting is a significant investment of time and money. Even when accounting is done part-time, full-time students will spend more than 50 hours per week studying and working in the field.
There are an estimated 370,000 accounting professionals in the United States. You will need a high-school diploma, four years of college education, and approximately $200,000 to obtain a CPA designation.
There are many different paths to becoming a CPA.
What are the requirements for an undergraduate degree in accounting?
At a minimum, accounting students need at least a bachelor’s degree in business or another field with a business component. For business majors, that’s more typically a minor in business or a double major in economics or accounting. For aspiring accountants, it takes more — a bachelor’s degree, typically in economics.
Most students can get into business school for free, but not everyone wants to go to business school.
Accounting Majors And The Requirements Of An Undergraduate Degree In Accounting
The Undergraduate Experience in Accounting
You don’t have to be at a 4-year college or university to study accounting, but you do have to be an undergraduate. There are plenty of bachelor’s programs for accounting majors, but you’ll also have to take a few classes to satisfy the requirements for an undergraduate degree.
When you’re deciding on a major, it’s important to consider how much you want to invest and how much time you can devote to a degree program. For example, the average undergraduate student works 20 hours a week, according to Forbes. Therefore, you may only be able to devote about four hours a week to your accounting studies.
Consider whether you’re willing to spend about a year to get an undergraduate degree in accounting.
What are the job opportunities for accountants?
Three of the top five U.S. employers, Bureau of Labor Statistics reports, are firms that employ accountants.
No wonder there are so many accounting graduates. According to the Society for Worldwide Interbank Financial Telecommunication, in 2015, there were 50,220 U.S. Certified Public Accountants and 30,190 licensed Certified Public Accountants, accounting and auditing firms in the U.S.
Finance Manager is the most common job for CPAs in the U.S. Accounting Specialist was the most popular job among those with their Certified Public Accounting degrees.
How long does it take to become an accountant?
Accounting is a very special field that requires advanced study to excel.
At the undergraduate level, completing a bachelor’s degree takes three to four years.
What does a successful accountant look like?
An accountant is an expert with numbers, and their job is to take these numbers and translate them into clear business processes. The role of the accountant is to prepare companies for the future. They should be able to visualize all the decisions they will make as a business, and how it will affect their bottom line.
How did accounting get its start?
Some historians claim that accounting comes from a sort of ancient chaos. Instead of tallying all of a nation’s wealth, an accountant would only tally what was being lent. This may have been because it was a more reasonable number to tally; that is, the loan was higher.
During the Middle Ages, the concept of bookkeeping was not yet invented. Instead, accounts were kept in meeting books.
Pros and Cons of A Career In Accounting
Economics makes up the majority of accounting courses. The economics classes cover the major topics of budgeting, cash flow, pricing, inventory, and related topics. Accounting requirements for many majors follow from the basic economic courses. You’ll also encounter a broad range of accounting subjects in the math, statistics, and computer science programs. These vary widely across fields. You can gain important skills in accounting from a computer science major.
The appeal of accounting as a major is easy to see. There is an enormous variety of career opportunities in accounting. Accounting jobs tend to be in the private sector, but there are a number of public sector and government jobs that are available as well.
Pros of A Career In Accounting
Become a Certified Public Accountant (CPA):
An accountant must earn a number of professional and technical certifications to be a licensed CPA in most states. Learn about the professional certifications that prepare you to get certified to be a CPA.
What CPA Training Is Like:
Register for and take the CPA exam:
The CPA exam is a four-hour multiple-choice exam consisting of 170 questions. The passing score is approximately 70%.
Pay off student loans faster:
Each certification program and course qualifies you to do an apprenticeship with a certified public accountant. The apprenticeship is typically two years. During the apprenticeship, you spend all day learning about accounting at a public accounting firm. You learn from experts who are incredibly passionate about accounting.
Cons Of A Career In Accounting
Many people think accounting is “just math.” This is true, but math is just one part of a career in accounting. We will discuss the main hurdles that come with the profession and share tips on how to get through the learning curve.
We will address some of the most common questions accounting students ask:
Is this an easy major?
What does an accounting major do?
Do accounting jobs pay well?
Is the job market for accounting professionals good right now?
Is it a worthwhile career?
Will I get into a top accounting school?
These questions are valid, so let’s discuss.
Is Accounting Hard To Learn?
I studied accounting at Michigan State University, a top accounting program in the U.S., and I’ll be the first to tell you it’s not easy.
The ideas presented in this article will equip you with the knowledge and resources needed to establish a career as an accountant. In the next five minutes, you’ll know how to get a job as an accountant and how to ace your accounting tests!
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Embrace Accounting : Entrepreneur Insights
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Related: How To Become An Accountant
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