People think of accountancy as a career that involves people being locked in a room working on computer spreadsheets all day long, and there is a long stigma that the career is boring. The reality, however, is that accounting is an excellent career choice that brings with it a wide array of exciting opportunities.
There are many reasons why accounting is an amazing career.
Helping with the growth of businesses
Accountants play a major role in the important financial decisions that can help businesses to grow and expand to the next level. Accountants do crucial work behind the scenes to assist companies with launching into new markets, acquiring new businesses, and creating new products and services.
Financial experts are needed by all businesses
All businesses involve money, which means that someone has to take care of it on their behalf. The result is that there will never be a lack of job opportunities for a qualified accountant.
Accountants have endless job prospects to choose from, be it working for restaurant chains, record labels or sports stadiums. If you are well versed in international finance laws and foreign currencies, then it is even possible to be able to find work in another country.
Plenty of growth potential
The bigger the business, the larger the financial roles and the opportunities for growth will be. This results in plenty of scope for accountants to further their careers and make a big difference to any business that they become involved in. One of the best things about accounting as a career is that the skills you have can be transferred, allowing you to move from business to business should better opportunities be presented to you.
Those who prefer to be self-employed can also start a business of their own in the role of freelance accountant or financial consultant.
You are in a large network
Accountants are part of a large network that is filled with their peers, and theyare known to be very supportive towards their colleagues. There will be a great many opportunities to network with others in the industry in both professional and social settings, meaning that there will always be resources to access in the event that you want some career advice or come across a more difficult accounting question.
You may even be able to find a mentor or become a mentor yourself later on in your career. Accountants have a reputation for their openness and friendliness and their willingness to help others to advance their careers.
Opportunities for lifelong learning
Accountants have to follow legal regulations, and these regulations are constantly changing and evolving.This means that there will always be new things to learn as well as ways to continue to grow on a professional level. Tax code changes and the role of IT and AI in accounting are just some of the examples that demonstrate the need for continuing professional learning in the accountancy field.
Accountants will often find themselves working with other teams that do not really understand what it is that accountants actually do, and will find that they are reliedupon to give their professional advice on a variety of issues that can affect a business.
Accountants will often be faced with questions that they do not know the answer to, which is where networks as well as professional advancement opportunities can come in useful.
One of the most exciting aspects of an accountancy career is that new things will happen every day and there will never be a dull moment. New problems need to be solved and new challenges need to be tackled on a regular basis.
Accountants are responsible for finding solutions to real business problems. An accounting education can be used to ensure that your company is provided with accurate data that will play a huge role in the decisions that your company ends up making.
Accountants ensure the integrity of their company’s financial data while working in partnership with other employees and using their skills and knowledge to guaranteethe success of their organization.
It is important to keep in mind that accountancy skills are required by all companies and that the work of the accountancy team will greatly influence all of the departments within those companies. Accountants will also be able to make an excellent living within this profession.
Accounting degree types
There are many different types of accounting degrees that those interested in the profession may wish to pursue. An accounting degree can set students on a pathway to an excellent career in finance and business. Accounting as a major can be pursued by students at all levels, and there are lower-level degrees for entry-level positions or bachelor’s and master’s degrees for middle and upper-level posts, including the likes of the online MBA Accounting course from Suffolk University.
A number of accountants choose to become certified public accountants, which is a highly respected and lucrative designation that normally requires a master’s degree.
Schools at almost every academic level offer a number of specializations for accounting majors, such as forensic accounting, real estate, international finance, management accounting and taxation.Students may also get a general accounting degree at either the associate or bachelor’s level and then later on choose to specialize in a master’s program.
Once they have graduated, accounting majors will be able to compete for a wide array of accounting and auditing positions. A lot of these careers come with significant opportunities and high pay.
Specialized accounting degrees
Prospective students may elect to pursue a general accounting degree or to choose a concentration for a specialized degree such as the MBA Concentration in Finance. Accounting offers a wide variety of popular specializations, including forensic accounting, financial accounting, taxation, auditing and taxation, with other options also including the likes of international accounting and internal auditing.
The options available will be dependent on the individual school at which a student is intending to study. Smaller schools will likely offer a less diverse array of specialization options than is the case with larger institutions.
Students who make the choice to pursue a specialization normally do so because they want to get a head start on a particular career, while accounting majors who have not yet decided on a specific career path may wish to study a general degree.
Concentrations are not offered by all students, with fewer majors often being provided by smaller liberal arts colleges than is the case with big universities. Enrollees at a number of institutions may just decide to major in accounting or perhaps business with a minor in accounting. Students in many schools whoare studying to gain their master’s degree may find they have more concentration options than are available to doctoral or bachelor’s learners.
Traditional and online accounting degrees
Prospective students have the option of studying online accounting degrees as well as more traditional campus options, or to take a hybrid approach that combines the two. There are benefits to all of these models, and students should make a careful analysis of all of them before deciding which will be the best for them.
Students whochoose the traditional approach of studying at a campus will receive the standard higher education experience of in-person classes, access to athletic facilities, hands-on study assistance, social events and personal counselling. High school graduates often prefer the on-campus option because of the personal and social aspects of the traditional college experience.
All students have to develop disciplined study habits, and those who study on campus will benefit from regularly scheduled classes in a traditional classroom environment in addition to face-to-face interactions, receiving instant extra explanations and feedback when they struggle to understand a particular concept.
Online education has been growing at a rapid rate over the course of the last three decades. It has demonstrated significant growth for a number of reasons. Online programs attract students because of thelower costs, while professionals frequently want to stay ahead of the latest knowledge within their industries and convenience and flexibility is provided by being able to study online.
Accounting is particularly well suited to online learning given that the coursework is primarily based in fact rather than theory and has no need of the laboratory-heavy courses that come with hard science majors.
Whether these reasons are enough for a student to be able to justify choosing an online education program instead of a traditional campus-based degree will be down to each individual and their own particular situation. It is a good idea, however, to ensure that the answer is rooted in quantitative data and research on a range ofdifferent factors, including the likes of cost, prestige, resources, location and length.
Students will also need to decide if a hybrid program drawing benefits from both approaches might be the best option for them.
Older students often find that they prefer to enroll in the online or hybrid programs as these degrees often cost less, are more flexible than their on-campus counterpart, and also take less time to complete. However, there are some older students who prefer the robustness of in-person learning and decide to complement their distance education by signing up for summer school, night classes or even J-terms.
Factors to consider
There are a number of factors that prospective students need to consider when researching online accounting degree options. Cost and location are obviously important, but there are also other elements to consider.
The size of the school is one such element. Some students may prefer a smaller school where they will be able to get more personalized attention from faculty, while others may prefer being at a major university that comes with strong research opportunities and a prestigious reputation.
The length of the program also needs to be considered. Some students may want a part-time program as they have to work or meet other obligations, while others mightprefer an accelerated degree to quickly improve their employment options.
It may also be important to a student that the school they attend holds regional accreditation, and has alumni statistics readily available in regard to earning potential.
These factors can all help students to decide the best options for their needs.
Professionals whohold an accounting degree have a wide array of career paths they can follow, almost all of which display a high annual salary and a positive job outlook.