7 Reasons Why You Should Get an Accounting Degree

Mar 7, 2019 by

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  • Make sure that you know the requirements of your state. Check some sites to discover the accounting steps you need to take.
  • Enroll in a college that’s accredited. Know the units required before you can sit to take the licensure examination.
  • Prepare for the licensure examination. Several hours for reading and doing practice tests are necessary. Additional time is needed to take the accounting professional exams.

Go through the details mentioned above but don’t get discouraged! Here are some excellent reasons why you should get an accounting degree:

1. High demand for the degree holder

As it has been said, accountants are needed in every business in every industry. After all, every business has cash flow; in, out, internal transfers between departments, debits that must be taken into account, etc. At the end of the day, accountants are required to audit and review the statements. No one without training can make sense of most business’s very complicated bookkeeping, which makes accountants invaluable.

Submission of the required documents to the IRS is one of the most crucial roles of accountants. Aside from that, they also showcase the financial health of a company and present it to current and future stakeholders, on top of the day-to-day work of making sure the company budgets well and has more money flowing in than out.

2. Competitive salary rate

With accountants’ vital role in a company, they’re usually offered competitive take-home pay. The salary rate for an entry-level accountant starts between USD $54,000-$65,000, and that’s without getting into areas of specialization. It’s undeniable that such a range is higher than those of most other entry-level positions.

3. Job Opportunities

An accounting degree can prepare you for all sorts of careers and job titles such as:

  • Accountant
  • Payroll Specialist
  • Loan Officer
  • Compliance Analyst
  • Financial Analyst
  • Bookkeeper
  • Financial Adviser
  • Accounting Manager
  • Tax Professional

While everything that’s mentioned above deals heavily with numbers, each has its own unique tasks. Some require excellent interpersonal and communications skills. Others involve skills like managing a team and evaluating existing methods for possible improvements. Whichever you’re more inclined towards, you’ll always have the choice to shift into that path.

4. Job Stability

There are businesses everywhere and, booming or not, an accountant will be needed. A company or organization needs to know where their funds are coming from and going to, and the condition of their financial standing, thus creating an endless need for accounting professionals. It’s a crucial job that even in tough times, when a company needs to lose some workers, an accountant stays to help decide who needs to be let go and who can stay. It’s fair enough to say that accounting will always provide steady work.
5. Career Growth

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An accounting degree gives you a strong understanding of how the activities of a business transform into financial results. It sets you up to deeply understand even the most complicated and bewildering aspects of running a business. Because of this, it opens many doors for you to branch out or specialize as you grow professionally.

Specialization can be a fantastic path to career growth. Accounting degree holders aren’t just people who get busy during tax season, which is a common stereotype. With highly specialized skills that are applicable to various businesses, it can pave the road for new opportunities allowing for higher recognition and prestige.

Here’s a breakdown of the some of the accountant specializations out there:

  • Audit
  • Budget Analysis
  • Business Strategy
  • Financial Accounting
  • Financial Reporting
  • Forensic Accounting
  • Information Systems
  • International Accounting
  • Macro and Microeconomics
  • Management Accounting
  • Professional Standard and Ethics
  • Quantitative Analysis

Career Possibilities:

  • Accountant
  • Trainee
  • Public
  • Professional
  • Certified
  • Financial Consultant
  • Auditor
  • Bookkeeper
  • Forensic Accountant
  • Credit Controller
  • Actuary
  • Financial Examiner
  • Risk Assessor
  • Payroll Administrator
  • Budget Analyst
  • Tax Adviser
  • Project Accountant
  • Controller
  • Chief Financial Officer

Skills to Acquire:

  • Quantitative Skill
  • Specialization on accounting topics and strategies
  • Knowledge on Generally Accepted Accounting Principles (GAAP)
  • Gained knowledge on accounting regulation issues
  • Solid understanding of a business industry

6. Flexibility

Being an accountant can give you a reasonable amount of flexibility when it comes to choosing where you want to camp. Whether it’s in a big or small city, east or west coast, by the ocean or in the mountains, or sometimes it can be a job for travelers; accounting lets you go where the need is, which is everywhere.

7. Helps Personally

Everybody has to deal with money. Each person has to deal with day-to-day living such as moving, creating budgets, savings, paying off a loan on your future house or car, investments big or small, and so on. Having a background in dealing with numbers will give you an edge, not just in your professional life, but also personally.

Accounting, being the financial backbone of every organization, can give you a steady and well-paid career. However, taking on this degree isn’t inherently easy. Your learning doesn’t stop as soon as you get the degree. If you want to boost your career, you need to invest in the continuation of your education. There are various certifications you’ll want to earn such as CMA (Certified Management Accountant), CPA (Certified Professional Accountant), and/or CFA (Chartered Financial Accountant).

So before embarking on this endeavor, reassess your personality, working style, and priorities to make an informed decision. But one thing is for sure, what makes this path worth pursuing, aside from the added credibility and marketability, is that it doesn’t necessarily enclose you in a limited circle of careers. It’s you who can dictate which path to take.

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Shannon Adams is a content marketer that specializes in business, education, home improvement and technology. He is a content marketer by day and a family man by night. Family is not an important thing, it’s everything. Michael J. Fox

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