Choosing A Major? 10 Reasons Why You Might Choose Accounting!
Have you already thought about what you want to major in as a college student? If you haven’t yet, don’t worry – it’s a far-reaching question that many students struggle to answer. Choosing your major is a pretty big decision that can define the course of your career and professional lifestyle.
Numerous factors drive the decision that defines your major and career path. These factors include your interests, future goals, the skills you want to acquire, and those you have that you want to polish further. And making these decisions without thinking things through can have some serious consequences.
However, if you are excited about creating your tax files and can find your way around numbers easily without a calculator, a career in financial accounting can be ideal for you. To this end, pursuing an accountancy degree can result in a gratifying professional life.
Here are 10 different reasons why you should choose accountancy as a major.
1. Enjoying the Challenge
If you enjoy challenges and take on whatever comes your way with high levels of enthusiasm, an accountancy degree is the best option for you. While interest in numbers is helpful, you don’t have to be a math wizard that solves complex equations and problems. Basic math skills like addition, subtraction, multiplication, along with good analytical skills, will help you enjoy the challenge of accounting careers.
An accounting major will provide you with numerous opportunities to upskill. You will not only learn to file your income tax files and returns but also pick up effective analytical skills that will help you ace the role of an accountant. You will be equipped with a deeper knowledge of finances, analysis of profit or loss, budgets, payroll management – the list goes on.
3. Double Degree
Students that pursue a Master of Accountancy degree are not limited to only accounting career opportunities. You can choose other degrees alongside accountancy and boost your profile. Some double degree examples worth considering are:
- Major in Accounting and Business Management
- Major in Accounting and Finance
- Major in Accounting and Business Entrepreneurship
The double degree will help you professionally as it will open more fields and horizons of career paths for you.
4. A Stable Profession
Accounting is a stable profession that can get you a full-time job right after graduating from college. There are various career prospects for accountants, and you may either work at a public firm or run your practice as a service provider. It’s a reliable and lucrative career path that offers better job security compared to other industries.
5. High Demand
No matter the location or industry domain, every company needs an expert that can handle the financial side of their business. Organizations are always looking for reliable and competent accountants and analysts to help them navigate the complex world of taxes and budgeting. Thus, accounting jobs will always stay in demand.
Another factor that adds to the high demand in this field is that there are unlimited accounting-related careers. Accounting is not only about ledgers, accounts, and bookkeeping. There are so many financial accounting careers to choose from, such as:
- Finance Manager
- Financial and Investment Advisor
- Business Analyst
- Cost Estimator
- Tax Reviewer
- Auditing Manager
6. Career Advancements
Accounting is a profession that is always advancing and developing. Each year, different rules, regulations, and laws are passed by the government regarding different accounting procedures. It is a profession where you will always keep on learning and upskilling. Since you are probably going to be on your toes throughout your accounting career, you won’t experience any monotonous and stagnant stages in your professional life.
7. A Building Block for Other Professions
The best reason for considering an accounting major is that it acts as a stepping stone for professions that require robust accounting knowledge and background. A Master of Accountancy degree, for instance, can prepare you for professions such as corporate law. Similarly, a certified public accountant has a higher chance of clearing the bar exam.
Accounting is also required in other related professions such as Company Secretary, Financial Auditor, Financial Planner, Tax Consultant, etc.
8. A Fast Track Career
Accounting is an appealing option for individuals who are ready to join the workforce. Many graduates pursue financial accounting careers because of how quickly it lets you progress up the career ladder. Stop and think about other professions and how long it takes to get a full-time job.
Students take 9 years to graduate from medical school and start practicing. A long period of 7 to 9 years is required to get a Juris Doctor degree at a law school. To accomplish a DMD and DDS at a dental school, you need to put in 6 years of hard work.
In contrast, you can become a CPA in 4 years with a bachelor’s degree in accounting. You need to meet the 150-hour educational requirements and get good grades to make the most of the career opportunities in accounting.
9. Transferable Employment Skills
An accountancy degree not only provides technical knowledge but also equips students with soft skills and transferable skills that are a pre-requisite for various other professions. Here are some skills that grads can obtain from their accounting major:
- Analytical Skills
- Business Management
- Communication Skills
- Quantitative Reasoning
- Team Management
- Software Experience
With such an extensive and impressive list of skills, you can boost your resume with on-demand credentials and discover greater job opportunities.
10. Articleship and Internships
As mentioned earlier, just about every business needs an accountant to handle their finances and daily accounts. Therefore, it is very easy to find internships for accounting students. Numerous paid internships and articleships are posted daily on different professional platforms such as LinkedIn.
In a Nutshell
The role of an accountant goes beyond dealing with numbers. Accounting careers are intellectually challenging and fulfilling, allowing you to grow in more ways than one. No wonder, then, that accounting is listed as one of the top degrees opted in colleges.
Accounting is a business function that will always stay viable for a company’s operations. Therefore, taking up accounting as a major is a smart choice for a gratifying future embedded with success.