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Why You Should Study Accounting

Why You Should Study Accounting-Are you pondering over the reasons you should study accounting or become an accountant?

Are you wondering if accountants are important in the society?

Well, you saw this article right in time as we are going to talk elaborately about accounting so you can see that it is a wonderful career to go into.

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In business and society today, accountants make a difference and so they are in high demand all over the world.

Studying accounting provides you will skills, knowledge and expertise that you can apply in various industries and you should know that as long as there are businesses in the world, accountants are of great importance.

Does someone already love accounting?

Let’s proceed…

Getting a qualification in accounting is the best way to start your career and we are going to show you some of the wonderful benefits you stand to gain studying accounting.

-Why You Should Study Accounting-

But before we proceed, let’s look at some things about accounting you should know.

What Is Accounting?

Accounting is the process of recording financial transactions in business and it involves the analyzing, summarizing, auditing and reporting of these transaction records to regulators or tax collection entities.

Through accounting, the summary of the financial transactions are used to tell the financial position and cash flows of the business. There are different types of accounting like cost accounting, managerial accounting and financial accounting.

What Does Accounting Entail?

In this section, we are going to look at what the accountant does that make them different from other jobs that are finance related. Like we have mentioned earlier that accounting involves the analyzing and summarizing of financial records.

So what exactly do accountants do that have made them indispensible in the world today.

The primary role of an accountant is to prepare and evaluate financial records to ensure the accuracy and transparency of business financial records. Let’s look at some other roles of an accountant:

  • To review statement for accuracy
  • To ensure that records and statements comply with the law
  • To organize financial records
  • To provide auditing services
  • To inspect account books and accounting system to keep up to date
  • To compute taxes owed, prepare tax returns and also ensure prompt payment of tax
  • To suggest ways to reduce overhead cost and increase revenue.

What Is It Like Studying Accounting?

The minimum qualification to have a career in accounting is a Diploma of Accounting but you can get a Bachelor’s degree or Master’s degree in accounting if you want to further.

Studying accounting will enable you to acquire knowledge about laws that govern business, business administration skills, statistics, accounting ethics and theory.

You will be taught how to prepare the majors documents like financial statement, tax returns, business proposals etc. you will also cover some areas like mathematics and quantitative analytics.

Why You Should Study Accounting

Like we have mentioned earlier that choosing accounting as a career will be a great decision for you and if you are still in doubt, we will show you some benefits you stand to gain studying accounting.

  • Every business and industry needs an accountant

There is no business or industry in the world today that doesn’t need a professional that will help it handle financial dealings and monitor the cash flows. As an accountant, you can work anywhere provided you have the knowledge of accounting and can deliver your best.

  • There is a high chance of getting hired immediately

Since accountants are in demand and it is one of the jobs that have a high hiring rate, you will certainly see job openings when you graduate and so you can start working as an accountant even without really job hunting.

-Why You Should Study Accounting-

  • You can start your own business or accountancy firm

Studying accounting will help you learn some skills that you can use to establish your own business or accountancy firm. Since you have the knowledge of business administration, proper business management, financial management and others, you can go ahead to open your own business or even become an independent accountant having your own accounting firm.

  • You will have international opportunities

Studying accounting will open you up to a lot of international opportunities as getting a job as an accountant is very easy even if you are abroad.

With a qualification like ACCA, you can work in more than 120 countries and also get the chance to work for big companies and earn big too.

  • You will have a wonderful study experience

Some people see accounting as difficult and they are not really far from the truth but if you love numbers and can do well with numbers, then you are good to go. In accounting, you don’t need to be very sound in maths to get a degree in accounting but you should at least know the basics addition, subtraction, division and multiplication well and you will enjoy every bit of it.

  • You will always be in demand

Like we mentioned earlier that every business needs an accountant and regardless of the improvement in technology, there skills and services are still needed. Accounting is the language of business like Warren Buffet said and so if you have this degree, you wouldn’t look for job because accountants are always in demand

  • You are going to earn high salaries

Since accounting is one of the jobs that are in demand in the world, it is also among the high –paying jobs in the world.

-Why You Should Study Accounting-

  • You hardly get laid-off work

Sometimes, business might hit the rock or go through hard times and may decide to retrench workers and even if they do so, the accounting department is always left untouched because they are highly needed to keep the company going. That’s why we say they are indispensible.

  • You will have good recommendation to further your career

Having a degree in accounting will open you up to opportunities in big organizations like United Nations (UN) and World Health Organization (WHO). These international bodies are constantly in need of accountants or experts to help them in their daily auditing.

You might not be able to earn high salary working with these organizations but you will certainly gain the necessary skills and knowledge that will help further your accounting career and this will connection you to other big opportunities and influential people.

  • Flexible career path

Studying accounting and graduating with an accounting degree will leave you with various career opportunities as you could pursue a career as a chartered accountant or you could be a stockbroker.

You could also become a business development manager, data analyst or even a mortgage advisor. So you see that there are a lot of career opportunities for you which makes it a flexible career to choose.

Final Note

If you are talking about the best degrees to take up in college and you don’t mention accounting, then you have not started yet because they are needed in every business organization as long as they deal with money.

From all the reasons we mentioned above, you will see that choosing to study accounting will be a very good decision for you and that it goes beyond just dealing with numbers.

-Why You Should Study Accounting-

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