A Career Path in Accounting
In the Business and Administration field, there are many different career paths that you can take. The path that we are going to talk about today is accounting. Hopefully this information will help tell you if a focus in accounting will be the right career for you.
What is Accounting?
Accountants are very important in the business world. Accountants are the people who review and assess the financial operations of a business, draw up better ways to spend company money, “advise ways to reduce costs, enhance revenues and improve profits” (Accounting Career Overview: Traits of a Successful Accounting Professional, n.d.) and so much more. According to ECU’s Occupational Outlook Handbook, accountants generally work full time, 40 hour week, schedules, and overtime during tax season in around April (Occupational Outlook Handbook, 2018). Being an accountant generally requires a Bachelor’s degree, but there are narrowed down aspects of the job, such as bookkeeping, that only requires some college, but no degree.
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How it works
A bookkeeper produces financial records for businesses. This helps businesses run smoothly by keeping track of where they are spending money and where they can save money. Bookkeepers not only help businesses with their financial records, but also families who need that extra help watching their expenses. Accountants and bookkeepers almost sound like they do the same thing; where you can see the difference is in the pay. In 2017, an accountant made $69,350 per year while bookkeepers made $39,240 per year (Occupational Outlook Handbook, 2018). If you are considering this career path, All Business Schools (Accounting Career Overview: Traits of a Successful Accounting Professional, n.d.) suggests some skills you may want to have prior to enrolling in this degree, such as: “Being goal oriented, organized, good with numbers, strong math skills, focused, analytic thinker and enterprising”.
Accounting in College There are currently 63 colleges that offer accounting majors. The top college for accounting, suggested by College Factual, is Bentley University in Massachusetts (Factual). East Carolina University (ECU) offers a BSBA in accounting. Classes specific to accounting, offered by ECU are: Intermediate Accounting I and II, Cost Accounting, Accounting Information Systems, Taxation for Decision Making, Internal Auditing, Government and Not-for-Profit Accounting, and Advanced Accounting and Nonprofit Accounting (Schisler, 2018). Graduating with an Accounting Degree In the state of North Carolina, graduating as an accountant you could have a starting salary of “$44,520 and mid-career salaries of $75,109” (Factual). There are many types of businesses who need accountants. According to Top Accounting Degrees, some main businesses who employ accountants are: “Colleges and Universities, Government Agencies, Health Care Providers, Hospitality Businesses and Retail Stores” (5 Types of Businesses That Need Accountants, 2019). So you see, there are many opportunities out there to start using your major in immediately after graduation. The starting out pay is pretty decent and the fact that you can improve and learn more on the job is perfect for aspiring to be better at your job, and get paid more for the increased knowledge and skills that you will gain.
- 5 Types of Businesses That Need Accountants. (2019). Retrieved from Top Accounting Degrees: https://www.topaccountingdegrees.org/lists/5-types-of-businesses-that-need-accountants/
- Accounting Career Overview: Traits of a Successful Accounting Professional. (n.d.). Retrieved from All Business Schools: https://www.allbusinessschools.com/accounting/
- Factual, C. (n.d.). 2019 Best Accounting Colleges in the U.S. College Factual.
- Occupational Outlook Handbook. (2018, April 13). Retrieved from Accountants and Auditors: https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
- Occupational Outlook Handbook. (2018, September 6). Retrieved from Bookkeeping, Accounting and Auditing Clerks: https://www.bls.gov/ooh/office-and-administrative-support/bookkeeping-accounting-and-auditing-clerks.htm
- Schisler, D. (2018). Department of Accounting. Retrieved from Division of Academic Affairs: https://www.ecu.edu/cs-acad/ugcat/accounting.cfm