Accounting, or in some cases accountancy, is the estimated measurement, processing, and communication of financial and non-financial information on economic entities such as businesses and corporations. Accounting can easily be referred to as the “language of business” in the sense that it measures the results of an organization’s economic activities and conveys information about this to various stakeholders, investors, creditors, managers and regulators.
Accounting, as a major, teaches how to create, maintain and audit in detail an accurate system that displays the finances and dataset of a business or organization. They study the theories behind accounting and learn how to analyze a firm or organization’s financial position and open options. Accounting has three levels of study; associate, bachelor’s and master’s, with each level of degree serving as a stepping stone to furthering your career, preparing you for more job opportunities and broadening your horizons.
Why Study Accounting?
Accounting can be studied to be awarded as a science degree, an art degree or a business degree, depending on the school where you study it. An accounting degree provides opportunities for students to expand their knowledge and skills in various areas of finance, like microeconomics, management, macroeconomics, banking and finance, tax and business law and general business practices. These desirable skills can transition into numerous professions across almost all industries.
The accounting field offers various career options, from auditing and tax accounting to managerial accounting, with several professional certifications for each specialization. There are also opportunities in the public and private sectors that can boost self-practices and promote entrepreneurship, or you can choose to work for government agencies or corporations.
Benefits of Studying Accounting
In the business world and our society, accountants are needed to make a difference and bridge gaps. They prepare and review the financial information that investors, lenders, businesses and other organizations worldwide rely on to scale or audit their businesses/careers. Accounting also trains students to provide expertise in taxes, financial planning, information systems and a wealth of other business matters, analyzing and providing advice when needed.
Also, as a degree, accounting provides students with a highly valuable, versatile, and in-demand skill set needed today that demonstrates and influences the language of business. Accounting major emphasizes high-quality academics and applied learning; it teaches students how to apply what’s learned in the classroom to real-world situations through research studies, volunteer opportunities and internships during the program. Accounting also provides students with the opportunity to;
Work in Different Fields
As an accountant major, you can easily work in any firm or industry, as every business needs someone to manage and account for their money. With a degree in accounting, many doors are automatically opened to you in the private and public sectors, industries and firms, oil, agriculture, tech, finance and even civil service.
Accounting is an internationally recognized course whose degree gives you automatic qualification to work anywhere in the world. This means you can move overseas and take your qualification anywhere with you without the stress of worrying about getting a degree there. You’ll be able to work in many countries across America, Europe, Africa and even Asia.
Accounting and finance are complementary majors with interchanging areas of study, particularly those that fall under the large umbrella of business. This is a huge plus to accounting students, as they almost have two degrees. Many universities offer Accounting and Finance joint honours degree courses so that you can explore other passions.
Career Opportunities in Accounting
Accounting has a lot of opportunities and a wide field for its students to venture into. The course has four main branches, including corporate, public, government, and forensic accounting. While previous master’s work, especially in the accounting field, is often strongly preferred, an undergraduate degree can help kick-start your accounting career. Some of the jobs and fields an Accounting major qualifies you for include;
- Financial accountant
- Debtor’s clerk
- Budget Analyst
- Management accountant
- Forensic accountant
- Financial controller
- Payroll Clerk
- Financial Advisor
- Financial Analyst
- Certified Public Accountant
- Accounts Payable Manager
As a student considering the best field in the business world, Accounting easily stands out as one of the best to venture into. With the broad skills it prepares you for and the long list of career opportunities provided, Accounting easily prepares graduates for the tasking and demanding world of business and finance today.