Is Accounting A Hard Major? [2022 Guide]
There are many majors to read in school and one of these majors is accounting, but is accounting a hard major?
An accountancy major is a degree in accounting or accounting science. It is one of the highest-paying social science courses in the world.
In addition, this major also provides a foundation for students to build a rewarding career in finance.
So, is accounting a hard major? The answer may depend on the student’s circumstances and goal.
However, keep reading this post and find out all you need to know about accounting.
Is Accounting A Hard Major?
The decision to pursue an accounting degree is not one to be made lightly, as it requires a great deal of time and energy because accounting can be a very challenging four-year task.
Without the commitment to classes and constant research, an accounting major might seem difficult due to its intense curriculum.
However, taking a major in accounting gives you the necessary skills, knowledge, and ability you need to take on challenges and solve problems in the financial world.
Studying this course at the university enables you to easily evaluate business performance, collect financial data and communicate your financial strategies to your employer in clear and captivating ways.
All the training you would receive wouldn’t just assist you in evaluating your firm’s success, but they would also help you in contributing to the constant improvement of the organization by making you a valuable member of that firm.
You would have the opportunity to pursue other career paths after you must have completed an accredited accounting degree program.
You can venture into public or private positions in cooperative organizations, non-profit organizations, and federal agencies.
What Is An Accounting Major?
An accounting major is one of the building blocks of business administration. It showcases the technical intricacies of accounting, information systems, public speaking, and the development of other skills required in the business world.
If you intend on studying accounting you must be interested in numbers, financial information, corporate finance, software programming, and data analytics.
In addition, you should also be prepared to create, maintain and audit a detailed and accurate system that showcases the finances of a company or firm.
Furthermore, you would study the theory behind accounting and learn how to examine the financial setting of a firm or organization.
After your 4 years program, you would earn a bachelor of business administration or a bachelor of science in accounting.
Although some universities have different names for accounting majors. You would find names like accountancy, accounting and financial management, and accountancy technology.
Nonetheless, your learning doesn’t just stop at a bachelor’s in accountancy. After your undergraduate degree, you must take the uniform certified public accountant examination.
This examination qualifies you to practice as an accountant, although you might still need to further to a master’s and Ph.D. level.
Many companies value skills like organization level, attention to detail, time management, teamwork experience, leadership, and communication.
All these skills are expected of an accountancy graduate after 4 years of training.
How to Know If An Accounting Major Is The Best Course For You.
As an aspiring accountant, you must enjoy math and take pleasure in an organization, because punching numbers in a computer system and examining financial information are important aspects of accounting.
This career path would give you the role of communicating your findings, to executives of a company or organization and also answering questions related to their analysis.
An aspiring accountant should be honest, he should be a rule follower as the job involves adhering to detailed rules and regulations and tax codes.
Accounting is the best course for people who love step-by-step examinations. However, almost all kinds of businesses need a professional accountant.
Through this, you would find your way to working in any industry or type of company that you want to provide there’s a vacancy for you.
Nevertheless, take the survey below and find out if accountancy is the best major for you.
Answer “yes” or “no” to each of the following questions:
- Can you explain complex ideas to other people?
- Would other people describe you as a person of charisma and integrity?
- Have you studied any accounting courses before?
- Would you describe yourself as a “critical thinker”?
- Have you progressed in any accountancy course?
- Can you solve math puzzles?
- Are you logical?
- Can you organize data and information accurately in an orderly manner?
- Are you known among your pairs for your ability to plan things?
- Do you strongly appreciate certainty?
- Are you more of a rule breaker or a rule follower?
- Do you have high standards for yourself?
- Can you solve your functional issues without stress?
If the majority of your answers are yes, then you should consider choosing an accounting major.
Consider taking some accounting classes and thoroughly assess your interest and ability in the course. Talk to an academic advisor and make proper inquiries about the course.
If all these are calling with your dreams and interest then go can go for an accounting degree. Enrol in any of the school, that offers an accounting major and begin your journey.
Pros And Cons Of Getting An Accounting Major
Below are the pros and cons of accounting.
Pros Of An Accounting Major
There are so many things you can love about this career they are:
1. Accounting Is A Clear Career Path
If you enroll in a university to study accounting you are learning the necessary skills needed to solve specific issues in a company.
This can give the student a much more detailed career path compared to someone who chooses to study political science or French where the potential career under these courses is more open-ended.
Furthermore, if you choose this degree you would have a more detailed idea of where this career would take you.
There are many places you can specialize in, the skills you would need and the duties you need to carry out will be generally the same.
Meaning if you get transferred to another company or organization you don’t have to start afresh to learn.
2. Accountancy Is A Stable And Growing Job Field
Accounting is not a profession that would fade away anytime soon because every business and organization needs an accountant to run the financial affairs of the company.
Even an average person seeks the best ways to manage his financial affairs without stress. As long as people need help with financial management there would be a need for accountants.
Furthermore, due to the rise in businesses the future would make more accounting jobs available.
The BLS has predicted the need for accounts and financial managers to increase by 8 percent from 2020 to 2030 which means during this period there would be new jobs.
3. The Career Path Offers Strong Earning Potential
Although money is not the only reason why you should take accounting as a major in school. You cannot deny the fact that we need money for shelter and to get the good things in life.
An accounting career can assist you in getting the nicest things in life because an accounting job pays well.
In 2021 the annual salary for accountants and financial auditors ranked $77,250. For those who wish to advance into managerial roles, their salaries would be increased.
For instance, in 2021 the annual salary for financial managers is $131,710.1.
However, there is no guarantee that you would advance into the managerial position but the best way to climb the professional leather of accounting is further your education and conduct profitable research that can solve financial problems.
4. As An Accountant You Can Work Where You Want To Work
Where do you wish to live? The US or the Uk? Or maybe you want to spend some time in a big or small town? Wherever you wish to live an accountancy job would help you achieve that.
As stated earlier in this post accountants are required in every organization, which means anywhere you go there would always be a job for you.
You would have to spend so much time sending applications here and there because there’s a need for accounting professionals in most companies and businesses.
From consulting to farming to bookkeeping to banking and government organizations everyone needs the services of a professional accountant.
This can give a fair chance of flexibility when it comes to choosing a place to start a family.
5. As An Account You Would Have Opportunities To Help Others
An accountant is an organizer, you can help[ people solve their financial problems in so many ways.
As an accountant, you can assist people in understanding their businesses and all the factors that would contribute to the success of their business.
This would help them in navigating and handling their financial situations so they can control their businesses without anxiety or fear.
Wouldn’t you want to be a trusted expert? If yes then you should consider choosing an accounting degree.
6. There Is Entrepreneurial Potential
You can achieve that dream of being your boss as an accountant.
Accountants are known to be financial managers. So if you start a business or company today you would likely do well.
Cons Of Getting An Accounting Career
Just like every other thing has an advantage there are also some disadvantages. Let’s check them out so you can decide if accounting is the best major for you.
1. The Potential Demands Of Ongoing Education
An accountant must go through a series of education and qualifications. The laws and regulations guiding the profession can be overwhelming.
To be very successful as an accountant you must be ready for continuous education to keep up with the ever-changing rules.
You must take the certified professional accountant examination (CPA) and the certified management accountant (CMA).
These certifications are not a guarantee that you would earn more or climb to the top positions as an accountant. They are just credentials that every accountant should possess.
2. Working As An Accountant Can Seem Dull
How many famous accountants have you heard of? I bet you are trying so hard to think of one.
This is because Accounting is not an exciting job.
Accountants go through day-to-day maths filled with lots of investigating and examination.
Although it can be very exciting to some people, let’s be honest it can also get boring.
Furthermore, there would be times when you don’t feel like dividing or subtracting numbers because solving and evaluating maths every day can be frustrating.
These are one of those things you need to check out before you jump on that accounting major.
Go through the responsibilities of an accountant on this post and examine if it would work for you.
3. There Is A Busy Season.
Most accountants are always busy because this job is a typical 9 to 5 job.
Except for public holidays, you would most likely be at the office at every given time.
In addition, accounting is filled with deadlines.
During this period family time would be cut short due to long days and weekend work.
4. Accounting Can Be Stressful.
When you are in charge of a company’s finances, you must be careful and detailed in your affairs.
The pressure and stress accountants get can negatively impact their health.
Some organizations do not even make it easy for an accountant. They give them unrealistic targets and unbeatable targets.
They fail to understand the pressure involved in handling huge amounts of money.
The higher your position the higher the amount of money you would be handling as an accountant.
Try to balance your work and other areas of your life.
However, if you can withstand pressure an accounting career isn’t for you.
Coursework You Should Expect As An Accounting Student
Most accounting students begin their studies with a liberal arts education that involves courses like English, foreign language, psychology, physics, and literature.
However, as you excel in your studies, you would begin to take some courses in accounting, taxation, business management, mathematics, operations management, business law, auditing principles of microfinance, finance, and computer-based systems. Etc.
Some university’s accounting programs involve business communication and public speaking.
Furthermore, some programs in the u united states require students to take an accounting internship for credit.
This enables the students to have an experience in the field as well as cultivate professional mentors that can help them land a job after graduation.
What Can You Do With An Accounting Degree?
Do you love numbers and calculations? Are you always interested in helping people organize, improve and understand their finances? If you love all these then accounting is the best course for you.
Regardless of the firm, you find accountants are needed to be trusted and valued. They are needed in every organization because their main responsibility is to understand and create a good picture of the firm’s finances.
Accountants are saddled with the responsibility of ensuring that all key executives and stakeholders have the best understanding of how well the firm is performing which is very important in driving the firm’s success.
Employers turn to accountants when they are in search of the best ways to reduce costs and increase profit, this is why accountants are important members of a modern organization.
Furthermore, if you intend on furthering your education as an accountant you must enroll in a master’s degree program. You can take a course on accounting or taxation or any other course that is connected to accounting.
Many universities offer programs where you can get a bachelor’s or master’s degree or even both. You would be required to complete an internship program during your 4 years of study.
In addition, you can work as an accountant or auditor at any form or organization after your graduation and pass the accreditation examination.
You can also work as a personal financial advisor, chief financial officer, and vice president of finance at a firm or company.
However, to effectively perform your duties as an effective accountant you need to understand more than just the classroom accounting practices.
You also need to advance your communication skills and have a good understanding of legal, ethical, and financial regulations.
In addition, a series of organizational management and experience are skills you need to serve as a practical account. These skills include:
- Legal Compliance and Ethics.
- Qualitative Decision Making.
- Business Intelligence.
All these skills are important in your success as a professional accountant because most of your responsibility as an accountant includes:
- Applying all accounting principles, standards, and best practices to examine the financial data of a firm.
- Collaborating using computerization, business intelligence, and data examination to carry out business functions, pass information, and develop several financial solutions.
- Examining ethical and regulatory trends influencing domestic and international accounting programs.
- Analyzing accounting procedures, systems, and financial information to identify opportunities for improving business and companies and applying business intelligence.
- showcasing accounting and leadership skills using computerization, business intelligence, and data examination.
The list above showcases the modern-day accountant’s task which involves complex and critical thinking which is needed in driving an organization’s success.
How Can You Become An Accountant?
You don’t need a degree in accounting to work in other related business fields, however, earning and holding strong academic credentials makes the process easier and faster.
It also assists your employer in believing that you are the best fit for that role, thereby giving you more access to job offers.
Earning a degree in accounting is one of the best ways to climb the professional leather as an accountant.
It gives you more opportunities in getting a good job as your qualifications would prove to your employer that you are fully capable of providing value to the company from the day of your employment.
However, below are some of the best schools that offer accounting as a major.
Best Schools To Get An Accounting Major
1. Harvard University
Over the years Harvard university has proven to be one of the best universities to get an accounting degree in the world.
It’s a prestigious school that is well respected across different areas of study. World ranking university ranked Harvard as part of the top ten universities in the world.
The Harvard business school has proven to be one of the most famous business schools in the world.
Research at this business school focuses on the use of performance measurement systems to assist businesses, communicate with external investors and improve asset management, build accountability and develop a sound financial strategy
2. London School of Economics and Political Science.
LSE concentrates on social science courses. It currently ranks as the second-best university for politics and international studies.
The school’s department of accounting offers BSC, MSC, Diploma, and Ph.D. programs in accounting.
They educate students based on three strands of research which are: regulation, financial reporting, and auditing.
In a broad sense, it means the economics of accounting, the organization, and the strategic aspects of accounting.
3. University Of Oxford
The university of oxford doesn’t offer undergraduate courses in accounting or finance but these courses are available in their economic and management science department.
However, it offers master’s programs in accounting and finance this has made the university of oxford to be the home of international research groups which focuses on both accounting and finance.
4. University Of Cambridge
Just like the university of oxford, the university of Cambridge does not offer an undergraduate course for accounting, but it is covered in other programs and offers many opportunities in the finance world.
However, the university has some research groups that focus on accounting, investment management, the stock market, financial reporting, business finance, financial policies, and empirical and corporate finance.
5. Massachusetts Institute of Technology.
This is also one of the best business schools in the world. It was ranked by the world university ranking.
The university offers accounting and finance programs from an undergraduate level to a Ph.D. level.
In addition, It has research groups that are dedicated to improving the financial sector of the world.
They constantly research areas that can improve financial engineering, environmental policy, and digital business.
6. Stanford University
Stanford University has a business school which is called the Stanford graduate school of business.
The school researches issues relating to financial reporting and management control.
It also offers accounting-based valuation strategies and incentive systems for business performance management.
Frequently Asked Questions
Is Accounting Math Hard?
No, accounting math isn’t hardcore math. It’s just basic addition, algebra, subtraction multiplication, and division that you would face.
Why Is Accounting So Difficult?
The reason why most students find accounting hard is due to inadequate research. Many rules and concepts are required to properly understand accounting.
If you want to understand these rules you must read and research.
What Is The Easiest Branch Of Accounting?
The easiest branch of accounting is the cash method.
Which Is Harder Law Or Accounting?
Studies have shown that a law degree is more strenuous than an accounting major because it requires more study time and research.
Is accounting harder than physics?
It all depends on the student’s preference for knowledge and understanding. If you understand one more than the other then you should go for the course that would be easier for you to understand.
Is Becoming An Accountant Worth It?
The answer is yes because accountants are required in most businesses and companies.
Is Accounting Harder Than Engineering?
The answer is no because engineering requires complex physics and math solutions.
Coupled with the numerous practical’s and research that they would need to engage in.
What Every Accountant Should know?
All accountants must know to prepare financial statements and reports for organizations.
How Can Accountants Stay Relevant With AI?
Accountants need to Work together with AI because AI assists accountants in examining large quantities of data.
Is Accounting A Happy Career?
Studies have shown that accounting is one of the least happy careers. This is due to the pressure and workload accountants face.
Now you must have known the answer to the question “is accounting a good major”?
Take your time to research and find out if this major is the best Field for you.
Apply to any of the best accounting colleges If you feel it’s the best choice for you.
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