If you’re a numbers whiz, and are considering a degree in accounting, here are some figures that should make your internal number counter ecstatic:
- Individuals with an Associate’s degree make about $8,000 more per year than those with a high school diploma.
- Individuals with a Bachelor’s degree make about $22,000 more per year than those with a high school diploma.
- The median income for Accountants with a Bachelor’s degree is more than twice that of those with a high school diploma.
The difference in income earnings adds up to millions of dollars over the course of a lifetime. Educated accountants are in high demand because businesses require their services on multiple levels. Accountants are responsible for keeping the day-to-day accounts in order, ensuring a business’ financial statements are in alignment with local and government laws and regulations, and overseeing the multi-layered realm of local, state, and federal tax responsibilities. As if that wasn’t enough, it’s also the accountant’s responsibility to continuously evaluate a business’ financial operations, practices, and accounting software programs to make sure the company is as profitable as possible.
That’s a tall order for any adult professional which is why education is so important. The things you learn while attaining your degree in Accounting will form a solid foundation for your future career.
Why Consider a Degree in Accounting?
Here is a glimpse at some of the things you will learn if you pursue an accounting degree.
- Business Math. While it’s still true that 1 + 1 = 2, business math is a little different. In order to grasp the intermediate and advanced accounting skills which will follow, a thorough understanding of business math will set the tone. The course will cover the myriad of ways that math is required and used across the range of business decision-making and general procedures.
- Personal Finance. Businesses aren’t the only ones who benefit from the services of knowledgeable accountants. Courses in personal finance introduce you to the grocery list of personal finance and accounting terms. You will also learn how to use a financial calculator and various spreadsheet software.
- Business Finance. Now it’s time to learn the ins-and-outs of business accounting. You will be exposed to:
- Principles of Business
- Financial Accounting
- Managerial Accounting
These classes are the meat on the bones of your degree. They will teach you everything you wanted to learn – and more – about the relationships between businesses and outside entities – such as municipalities and government. You will learn how to organize and prepare financial statements, how to review them and organize the financial records for businesses who have neglected them, and you will learn how to use accounting skills and talents at the managerial and executive levels to make the macro-decisions which ultimately determine a business’ financial outlook.
- Software. When you leave your professional school with a degree in hand, you should be able to pass intermediate level tests for Basic Microsoft Suite programs, such as Word, Excel, Access and PowerPoint. You will also spend an entire semester using accounting-specific software, such as QuickBooks Pro. These programs will allow you to do everything from setting up basic data accounts to the most complex requirements for creating multi-step financial statements. These are imperative qualifications for just about any entry-level accountant position which requires a degree.
- Business Administration. If you take your accounting degree one step further, and pursue additional courses in business administration, you’ll find more doors will be open to you in the future. Accounting degrees and backgrounds are required for a multitude of jobs, from CPA and auditing positions, to top-level management and executive positions in both small companies and large corporations. By rounding out your degree with classes such as Principles of Marketing, Business Law, and International Business, you will be even more valuable to prospective employers.
The things you learn while obtaining your accounting degree will be useful on both personal and professional levels. You will gain personal finance skills to help you achieve your own successful financial future, as well as the skills to help individuals and businesses make the most critical decisions towards their own economic health.
What have you found to be the most valuable aspect of your accounting degree? We’re interested in hearing how your education background has helped to open doors along your career path.