While many people might not know what accountants do on a daily basis, it is evident that they are needed in any business. Some just have the job title of an accountant, while others have specialist roles such as a corporate accountant or tax accountant. Before we look at whether it is worth becoming an accountant, let’s take a quick look at what accountants do.
While this is not a complete list, generally speaking, accountants:
- Perform audits and reviews of financial information.
- Prepare and examine income tax returns.
- Interpret and apply tax laws and regulations to specific situations; and
- Analyze and report on business activities such as sales, expenses, profitability, or cash flow.
An accountant’s job role can vary depending on the business they work in, because each industry has different needs and expected outputs for accountants. For example, an internal auditor will focus much more on reviewing or testing the accuracy of financial records within a company compared to an external auditor who is hired by another organization to review their financial information.
Is a 2 year accounting degree worth it?
Yes, an Associate’s Degree in Accounting is worth it for many students. In November of 2021, the Bureau of Labor Statistics projects 5% job growth in business and financial occupations for the next 10 years, faster than the average for all occupations.
A 2-year accounting degree is a great start for those interested in becoming an accountant. It can also be a stepping stone to further education, whether it is a bachelor’s degree, a master’s degree or both.
According to the BLS, accountants who have a bachelor’s degree earned on average $64,690 per year compared with $42,190 for those with an associate degree. A master’s degree accounts for an even greater pay increase. Accountants who have a master’s degree earned on average $92,510 per year compared with $48,510 for those with an associate degree. This is not surprising considering that the cost of education increases each year.
What to be aware of?
One main thing to keep in mind when deciding whether to study accounting at the university level is accountants generally must pass specific exams to work as a professional accountant. This is known as a CPA (Certified Public Accountant) and individuals who have this qualification can pursue careers in public accounting, including those practicing as auditors.
In the state of California, for example, individuals must pass the Uniform Certified Public Accountants Examination to obtain their license. In addition, accountants in this state must also complete 72 hours of continuing education every two years.
Not all states require a CPA, however. For example, individuals can practice as an accountant in the state of New York by passing the Uniform Certified Public Accountant Examination and completing 15 hours of continuing professional education courses a year, including four hours on accounting ethics and ten hours on business law.
What are some pros and cons of accounting?
Pros:
- It’s a growing industry
- Salaries are competitive
- You can work in any industry
- Your skills will always come in handy
- You’re always learning something new
- There’s a wide range of jobs to choose from
Cons:
- It can be stressful, especially during tax season
- Sedentary work environment
- Accountants have a ‘boring’ reputation
Is being an accountant hard?
While accounting does require a complex set of skills and abilities and excellent attention to detail, it really isn’t any more complicated than many of the other popular fields of study that lead to excellent lifelong career opportunities.
Choosing a career in accounting is a favorable choice for many reasons. But, is it difficult to become an account? No, for most, it is not difficult to become an accountant. It does take some time and practice though.
You have to go through a two to a four-year degree program that will give you all the basics of how to be an accountant. If you want to specialize in something more than general accounting, you can always go back to school after having some work experience.
This program will supply you with everything you need, but it’s best if you already have a math-related degree before becoming an accountant. If you don’t, then the long hours of studying will be worth it. You’ll soon begin to appreciate just how much accounting has to offer.
But being an accountant isn’t just about numbers, it’s also about understanding how to present them in a way that is understandable and useful for all the other people working at your company. If you want to be an accountant, you will have to familiarize yourself with computer programs. And even though the job of an accountant is not considered to be an exciting one, if you’re good at what you do and you like it enough, it can very well become a life-long career for you.
You’ll also have the opportunity to meet new people and be part of a great team. Accounting often works with all kinds of professions such as engineers, contractors, social workers, marketing managers, and lawyers.
This means you will have to learn how to speak their language; they’ll be able to learn your language as well.
As with everything in life, you will receive what you put into your career. If you are willing to put in the work and make sacrifices, then becoming an accountant will be one of your best decisions.
What are some of the advantages in an accounting career?
Benefits of a Career in Accounting
- Accountants Have a Better Understanding of Finances
- The Growing Demand for Accountants
- Opportunities for Advancement
- The Pay Range for Accountants is Competitive
- The Ability to Start Your Own Business
- Gaining a Better Understanding of Taxation and Business Law
So….
Is it Worth Being an Accountant?
In conclusion, becoming an accountant is worth it if you truly enjoy what it’s about. Of course, you will have to work hard and put a lot of time into training. But, in the end, it’ll all be worth it because you will have been able to provide so much for your career and your company.
- Accounting allows different professions to work together. Without accountants, no one would know where their money has gone and where it’s supposed to go.
- Accounting allows people to predict the future of their companies. This helps people take action before it’s too late.
- Accounting makes it easier for businesses to communicate important information with each other regarding money, services, goods, etc.