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What to Do With Accounting

Author: | Posted in Career, College Students No comments

A common headache for college students is what to major in. The question, “What do I want to do for the rest of my life?” is a daunting conundrum to tackle just out of high school.

After much deliberation, weighing every possible pro and con, racking the mind for some realistic vision of the future, you decide upon the ever increasingly popular area of study: accounting. At first, the scope of the major may frighten you, causing you to lapse into a state of doubt and uncertainty.

Fear not. If after the introductory classes you find that the academic rigor is easily feasible and flows with straightforwardness, then climb aboard and join the ranks of successful business men and women who similarly chose the accounting field.

The immediate job outlook for accountants is the best it has been in decades. The average median salary is about $60,000 with a small unemployment rate at about 4%.

Having an accounting degree opens the door to a multitude of career paths. Tasks such as tax preparation, auditing, and consulting can all be completed by public accountants for large corporations, small start-ups, nonprofit organizations, and even individuals.

Accountants analyze and prepare financial statements that show investors and company management how the company is performing. There are forensic accountants that inspect crimes like securities fraud and embezzlement committed by salaried professionals.

With such an intricate understanding of a business’s financial situation, an accounting degree provides an excellent foundation for entrepreneurship. At an extreme face-value glance, you wouldn’t have to hire an accountant for your own start-up.

As for the amount of jobs, over 150,000 accounting positions will need to be filled within the next seven years. This makes accounting’s growth rate much higher than most other professions.

To obtain these positions, however, an applicant will need at least a bachelor’s degree in accounting or a related field. A popular post-graduate route is to obtain a Certified Public Accountant license.

Such a license is essential to stand out in the sea of budding accountants. It will serve as an invaluable asset throughout your entire career.

This day and age is focused on specialization. Niches are evolving and expanding in a way like never before.

The benefits of specializing within accounting and finding an interesting niche will be immediately seen and valued above other non-specializing accountants.

An immediate take-away of pursuing a degree in accounting is the ability to do personal finances. The economic forecast in the US seems very uncertain.

A vital skill to possess in times of national economic insecurity is that of managing personal finances. These skills simply can make life better, boost self-esteem, and change uncertainty into self-assurance.

Personal financial management done well brings peace to the soul and wealth to the bank account. A side business of managing and filing family, friends’ and acquaintances’ taxes can prove very profitable as well.

Among the barrage of majors hurled from the colleges on any given university, accounting is one that should not be overlooked. On the contrary, one would be wise to invest in education that will pay off multiple times over.

For the eager, wide-eyed college student interested in business and securing a safe future, explore an accounting degree. See what this growing occupation can do for you.

You won’t be disappointed.

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