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Why You Should Consider an Accounting Degree

Accounting , News

If you are exploring professions that offer a lucrative salary, then look no further than becoming an accountant.  Accounting offers a median salary of approximately $67,000 and offers limitless opportunities to grow.  You can work for virtually any company to explore different interests, and move up into management positions.

Imagine working as an accountant for aerospace, biotechnology, production studios, the government, and much more. The opportunities are endless, and you’ll find a great deal of flexibility in the field of accounting.

Flex Your Soft Skills

Before you decide to pursue a career in accounting, you must be honest about whether you have the right skill set.  You’ll require not only technical expertise, but also personality and character traits as well.  For example, you will need excellent communication skills.  This is because you will have to present your reports to other people in and outside your department.  In many instances, you will have to report your findings to people who are not accountants, and thus you will have to communicate in terms he or she can understand.

Another quality you will have to possess is critical thinking skills.  It is necessary in your job to analyze the data and present interpretations of the data.  You should also exhibit impeccable organization.  With so much data in your hands, it’s important that you keep your records organized in such a way so that you can access them quickly.

Opportunities for Growth

Accountants have a straightforward career ladder.  Unlike more unconventional career paths of English majors, political science majors, or art majors, your accounting major will give you a plan from start to finish. Once you get a job, you will likely have the chance to move up in the ranks as you acquire experience.

One of the best ways to stand out on your resume is to become a CPA. CPAs—or certified public accountants—are those that have taken an exam to become certified to perform certain tasks.  These tasks include the ability to audit accounts, create and supervise budgets, create financial strategy, and have the unlimited right to represent taxpayers before the IRS.  Without a doubt, showing that you are a CPA on your resume will already show your potential employer that you have the competence and expertise to take on almost any job.

However, becoming a CPA is not so simple.  All CPA candidates must go through a demanding examination process.  The exam is broken into four sections that are all sat separately. Once you take the first exam, you have eighteen months to pass all other portions before the clock starts over.  If you would like to become a CPA, it is recommended that you utilize all resources available. This includes study guides and choosing the right CPA course for your learning style.  Preparing yourself before and during the 18 months will be difficult, but it will be worth it when you get a job that offers a hefty paycheck.

High Job Demand

Accountants are always in demand.  As long as people have tax issues or companies need their finances organized, you will have a job.  It is one of the only jobs that remains relatively steady throughout fluctuations in the economy.

Work Virtually Anywhere

As mentioned earlier, accountants have a lot of freedom to work where they choose.  Any larger business, nonprofit, or organization needs people to help them manage their finances correctly to remain successful.  This is why you can explore any field you desire.  You can, for example, build expertise as an accountant to the stars and manage the finances of popular celebrities.

Alternatively, you can put your IT knowledge to good use and work for software developing companies.  The possibilities are endless, and building expertise will make you a desirable candidate to the job you pursue.

Make a Career Change into Accounting

News

Before you change your career, you must ask yourself, “Why do I want to make a career move into accounting?”  Whether you want to have a more lucrative career, work in a steady job market, work in a different setting, or utilize your mathematical skills, there are many options available to you in the accounting world.

Also, consider your strengths.  Accountants aren’t just math-minded.  Good accountants also have excellent communication and organizational skills in order to be successful.  If this sounds like you, here are the ways you can make a career change into accounting.

Top 4 Ways to Start Your Accounting Career

    • Go Back to School.  Unless you already have an accounting or finance degree, you will have to go back to school.  Almost any accredited college or university will offer an accounting major, so pick one that suits you best. Can’t afford to be a full-time student?  You are not alone.  There are many programs that offer part-time student classes, and still others who offer online variations.  If you are a working professional or have other obligations that keep you from attending a typical four year school, then do not hesitate to research online institutions that will give you what you need in the time you can accommodate.
    • Network ASAP.  Whether you take classes on campus, a satellite campus, or online, it is essential that you network with your peers.  Attend all of the events that you can, and be sure to develop your interpersonal relations.  You and your colleagues can assist each other by helping each other study in the classroom and beyond.  You never know who will have the job that has an opening, or someone who may want to open a firm with you in the future.  Get the best advice from your peers, who are all in the same boat as you.  Likewise, networking events may be a good opportunity to talk to visiting accountants who are there to speak with you and share their experience.  Networking at these events is a valuable asset, and what is best is that they are included in your tuition.
    • Land a Full-Time Job or Internship.  Whether it’s a job or an internship, get experience that pays.  It may be inconvenient to take on a job that pays you less money than your current job at first, but in the long run, it is more advantageous to gain the experience necessary to get the next job.  In addition, many internships will pay you for the hours you put in, and at the end of your term, your boss can write you a fantastic letter of recommendation. If you’re fully committed to a career change in Accounting, apply to the Big 4 Accounting firms internship programs. That experience on your resume will open doors to you for the rest of your life
    • Pass the CPA Exam.  Although it is not required, it is highly recommended that you pass the CPA exam and become a certified public accountant.  Not all successful accountants are CPAs, but you will afford yourself broader job opportunities if you do. Unless you want to pursue the career of a CFO—which does not require even a master’s degree—you may want to become a CPA to give yourself better job prospects. As a CPA, you are empowered to do much more than a typical accountant can do.  In addition to the basic bookkeeping and reporting tasks of an accountant, a CPA has the ability to create and manage accounts, oversee budgets, audit accounts for mistakes or fraud, and take on managerial positions.  If you want to expand your skillset and capabilities, then you will want to become a CPA.  To become a CPA, you will first have to pass the arduous CPA exam.  Do not hesitate to try to take the exam perhaps a year out of college.
      Give yourself at least several months to study.  Most candidates study for hundreds of hours in order to pass all four sections of the exam.  What’s more, the exam has about a 50% pass rate, which implies that many people do not pass on their first try, let alone their second or third.  Invest in recommended CPA materials, and give yourself the best chance to dominate that exam!

Making a career change doesn’t need to be scary; consider taking on accountancy and take advantage of the numerous benefits of this career.