What You Should Know If You're Considering an Accounting Degree (2024)

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What You Should Know If You're Considering an Accounting Degree (1)

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SHELBIE WILLIAMS

What You Should Know If You're Considering an Accounting Degree (2)

As a child, I sang. I danced. I hid under my covers with a flashlight and agood book. From designing herb gardens and crocheting misshapen blankets to scrapbooking and dreaming up experimental recipes to inflict on my family—if it was dreamy and artistic, I did it.

When it came time to pick a college major, I surveyed my most-beloved high school subjects—classical music, history, grammar, literature, Spanish—and landed on... accounting.

What You Should Know If You're Considering an Accounting Degree (3)

Yep. Making heads spin since 2011, that’s me! I picked a Bachelor of Science in Accounting, a typical 4-year, 120-hour degree in a subject I had previously hadzeroexperience in.

Shock (or outright terror) became the most common reaction when I told friends and family about my degree choice.

If you believe the cultural stereotype, I was an unlikely accountant for sure. Accountants are the stern, semi-monastic gurus of great financial mysteries beyond the pale of the happily-unaware. I was just a starry-eyed dreamer longing to organize a world I had never explored.

That’s how I discovered the stereotype was dead wrong.

Signs You Have an Accounting Brain

I chose accounting for two reasons:

  1. I didn’t hate math, and

  2. I wanted a firm grasp on a concretebusiness skillto round out my artistic tendencies.

After focusing on the humanities in high school, I wanted to gain more practical expertise as I entered adulthood. Accounting seemed like a prime career option with great earnings potential and lots of job location flexibility. But honestly, I had no idea I would actually begoodat it, much less enjoy it. As I began my studies, I found out why accounting fit strangely well into my creative personality.

Here are some signs accounting might be a more likely match than you think:

Numbers don’t make your brain hurt.

Accounting isn’t hard-core math. It’s basic addition, subtraction, multiplication, and division. Possibly some light, entry-level algebra, but that’s it. You don’t have to understand calculus. You just need the mental ability to associate abstract information (numbers printed on a page) with real-world quantities (money and other valuables).

Organizing gives your heart joy.

For a whimsical bookworm, I was surprisingly skilled at accounting… but why? Design. Abstraction. Labeling. The adventurous pieces of my childhood were all indicators that I would be really, really good at categorizing things.

Turns out accounting is organizing on steroids. Less math, more Marie Kondo. (Except you can’t throw out the numbers that don’t bring you joy. Don’t do that. That’s called fraud.)

You’re a little bit of a perfectionist.

Disorder nags at the back of my mind like that cringe-worthy sound my car bumper makes when I drive over the curb for the millionth time. There is nothing like the satisfaction of neat columns of numbers balancing out on the crisp ledger lines of an Excel workbook.

If you can’t rest until everything isexactlywhere it needs to be, welcome to the spreadsheet family. Your perfectionist tendencies are welcome here.

However, if counting, obsessing, and lining up things in even rows makes you a little crazy, run now. Accounting will kill you slowly.

As I approached the end of my degree, it was clear that—unlikely candidate as I seemed— accounting was a great fit for my weird little brain. It worked for me. But I still wasn’t quite sure exactly howIwanted to work forit.

What Can You Do With An Accounting Degree?

I suspect that you might think of an accounting degree the way I did. I saw a very specific career path laid out for my chosen degree, and I wasn’t sure how it would apply to much else. I was surprised when I found out just how open my options were

Accounting education follows a basic hierarchy, but each level leads to a similar place: a computer full of numbers crying out for your love and attention. How big the numbers are and what you’re allowed to do to them depends on your certification level.

Here’s a quick run-down of the typical levels of accounting work:

Bookkeeper

Bookkeeping involves basic accounting, but you don’t necessarily need a degree to do it. A bookkeeper tracks spending, pays bills, and keeps up with a business’s financial paperwork like invoices and reports.

Accountant

Just up the ladder from bookkeeping is accounting. An accountant typically holds a bachelor’s or amaster’s degree. While not recognized as certified by the IRS, accountants can generate financial statements, prepare tax documents, and conduct audits of a company’s ledgers.

CPA

An accountant is not the same as a CPA.CPA stands for Certified Public Accountant, and this certification requires an exam plus an extra 30 hours of college credit. As the gold standard of accounting prowess, CPAs are authorized to perform general accounting work as well as prepare tax returns and, most importantly, legally represent other taxpayers to the IRS.

Accountants often devote themselves to a particular area of finance that interests them, such as internal accountability and improvement (managerial accounting or cost accounting), external reporting (financial accounting or tax accounting), or financial review for legal purposes (auditing or forensic accounting).

But as I hinted at before, traditional accounting fields are definitely not your only option with this degree. Despite my original plans of a home accounting office, I have actually never worked in an accounting position.

I write articles and talk to people about their health insurance for a living. I’ve also administered online learning platforms, developed courses, and taught music—all since earning my degree. I plan to do other things over the course of my life too, maybe evenown a business.

My degree doesn’t just belong behind a desk or inside a spreadsheet. I learned about the inner workings of business, economics, marketing, communication, finance, and taxation. My diploma awarded me with a Bachelor’s of Science in Business Administration with afocusin accounting. (Although a person can get a bachelor's or master's in accounting without the business administration part.) I’m a businesswoman with an edge.

My accounting degree gave me so much more than just an understanding of contra accounts or how to balance a ledger. It gave me critical insight into business and a broad base of knowledge that I can bring to any job I pursue. It balanced my artistic intuition with concrete intellectualism, allowing me to act as a human bridge between the worlds of language and numbers.

Accounting isn’t for everyone, true. But as I learned, it isn’t limited to a few nerdy, introverted geniuses. It was also perfect for a bubbly, artistic girl who needed boxes large enough to organize her imagination.

You never know. Accounting might take you by surprise too.

Did you enjoy this post? You might also enjoyWhy Your Bachelor’s Degree Won’t Get You a Job.

  • Shelbie Williams
What You Should Know If You're Considering an Accounting Degree (2024)

FAQs

What You Should Know If You're Considering an Accounting Degree? ›

Examine your interests and skills to determine which accounting career resonates with you the most. Consider areas where you excel—like financial analysis, problem-solving, or attention to detail. This will help you choose a path that aligns with your natural abilities.

What to know before majoring in accounting? ›

Essential skills for accounting majors may include1:
  • Strong math and analytical skills.
  • Problem solving.
  • Strict attention to detail.
  • Organization and planning.
  • Familiarity with Microsoft Office Suite, Quickbooks, and other popular finance and accounting software.
  • Knowledge of GAAP (generally accepted accounting principles)

How do I know if accounting is right for me? ›

Examine your interests and skills to determine which accounting career resonates with you the most. Consider areas where you excel—like financial analysis, problem-solving, or attention to detail. This will help you choose a path that aligns with your natural abilities.

What type of accounting degree should I get? ›

Earning a bachelor's degree in accounting can help qualify you to sit for the certified public accountant (CPA) exam. With a CPA credential you can find more positions at advanced levels. However, to meet the full educational requirements for CPA licensure, many candidates choose to obtain a master's degree.

Is getting an accounting degree worth it? ›

An accounting degree lays the foundation for many careers in business, including entrepreneurial ones. Once you gain experience and establish business contacts, you may consider starting your own business. Whether in tax accounting or consulting, you can pursue several avenues with an accounting background.

Why is no one going into accounting? ›

Many would agree that the most significant reason for the decline in accounting majors is the 150-hour requirement.

How difficult is an accounting degree? ›

Earning a degree in accounting can be challenging due to the complex nature of the subject matter, however it is not necessarily categorized as math-heavy. Students who are dedicated, diligent, and hard-working can successfully earn an accounting degree.

What is the #1 rule in accounting? ›

Rule 1: Debit all expenses and losses, credit all incomes and gains. This golden accounting rule is applicable to nominal accounts. It considers a company's capital as a liability and thus has a credit balance. As a result, the capital will increase when gains and income get credited.

What is the golden rule for accountant? ›

The three golden rules of accounting are (1) debit all expenses and losses, credit all incomes and gains, (2) debit the receiver, credit the giver, and (3) debit what comes in, credit what goes out. These rules are the basis of double-entry accounting, first attributed to Luca Pacioli.

Is accounting hard at first? ›

How Hard is Basic Accounting? Accounting is a complex field with a lot of intricacies, but the foundational concepts should be fairly easy to pick up for most students. Again, it takes a good eye for detail to become an accountant and even your Introduction to Accounting class shouldn't be a walk in the park.

What degree do most accountants have? ›

Aspiring accountants need a bachelor's degree in accounting or business to begin work in the field. A bachelor's degree usually takes about four years and 120 credits to complete. Those with an associate degree might enter the field as bookkeepers or accounting clerks.

What type of accountant are in most demand? ›

Top in-demand accounting jobs
  • Managerial Accountant. ...
  • Auditor. ...
  • Information Technology Accountants. ...
  • Forensic Accountants. ...
  • Financial Analysts. ...
  • Financial Controller. ...
  • Chief Financial Officer. ...
  • Money Matters.
Mar 14, 2023

Should I get a BA or BS in accounting? ›

Though not as common, you may come across the Bachelor of Arts (BA) in Accounting. While a BS emphasizes courses related specifically to accounting, a BA has more flexibility in choosing electives, allowing additional options for a minor or double major.

Is the CPA exam hard? ›

Very. The overall CPA Exam pass rates hover slightly below 50%. This makes passing the CPA Exam a difficult, but achievable, goal. You'll need to study wisely, set a strategy for managing your time, and call on your support network, but with the right plan and good study materials, you will conquer it.

Is CPA still worth it in 2024? ›

Conclusion. In conclusion, among the ever-evolving landscape of finance and accounting, the value of becoming a Certified Public Accountant (CPA) remains undiminished in 2024.

What are the cons of becoming an accountant? ›

Here are four cons of working in the accounting field:
  • You may need to pursue advanced education. ...
  • You may experience a heavier workload at specific points during the year. ...
  • The work may be stressful. ...
  • The work is math-intensive.
Feb 12, 2024

What level of math is needed for accounting? ›

Algebra. Double-entry accounting requires an understanding of algebra to balance debits and credits. Accountants also use algebra to calculate liabilities and depreciation. Understanding algebraic equations helps accountants manage financial data and recommend strategies.

What is the hardest class in accounting major? ›

Financial Statement Analysis is a course that focuses on understanding and interpreting financial statements to assess the financial health and performance of a company. It is typically considered one of the most challenging courses in Accounting.

Should I major in accounting if I'm bad at math? ›

You don't need to be a math whiz to be an accountant. Your not going to use Algebra or Calculus to do the job. Attention to detail and being meticulous are more important. Software these days takes care of a lot of the mistakes done years ago on paper.

Is it smart to major in accounting? ›

Plus, the accounting field is expected to keep growing at a rate much faster than average for all occupations. An accounting degree might be more flexible than you think: An accounting degree is a great foundation for any career in business.

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