If you are thinking of choosing an accounting major then you might be wondering whether or not it will be hard.
This article will show you how hard an accounting major will tend to be and what you can do to make your schooling go as smoothly as possible.
So, is accounting hard? Let’s find out
Is Accounting Hard
Accounting is considered one of the most challenging business majors. It is also one of the most famous degrees at colleges and universities across the world.
The difficulty of an accounting degree varies according to your school and there are several things that can be done to make accounting easier.
Accounting isn’t just about numbers, it’s everything relating to business.
You need to understand the concept of business and investment. It’s about how people spend their time and what they invest.
It is also the process involved in recording the financial transactions of a business or organization.
An accountant must always know how to allocate resources like land energy and labor. So, you have nothing to worry about if you are applying to study accounting.
Is Accounting Hard? (Things To Consider Before Picking Up An Accounting Major).
In normal circumstances accounting is one of the best business careers in the world.
You can bag a high-paying job with an accounting degree. According to research, an accountant can earn an average of $60,389 every year. These earnings can increase as you further your studies in accounting.
A business can crumble without the guidance of an accountant.
Because of how important an accountant’s role and duties are, students are always asking the question “is accounting hard”. They are always wondering how difficult it is to perform the role of an accountant.
If you are not good with numbers, time management, and calculation, becoming great at accounting might be very challenging.
Nonetheless, below are some of the reasons why students ask the question “is accounting hard”?
1. It Involves Math
Math is one of the most feared courses in high school, this is why some high school graduates think accounting is hard because it solves calculations.
If you don’t like numbers and calculation or you are particularly not good at math then you might find accounting hard during your degree.
Accountants work with numbers and checkmate how these numbers apply to finances.
Although there are other fields under the shade of accounting, you would still have to work with numbers in some way or the other.
For instance, Your entire day would still revolve around numbers if you work as a bookkeeper.
One of the reasons ways to escape many calculations in accounting is to be a business consultant who advises employers and organizations on the best investment and business patterns. This way you would have someone who dis the calculation for you.
However, you might not be free from calculations because you have to make those numbers make sense to your clients and investors.
In most situations, you only have to know high school maths to become great at accounting. That being said, you require a good knowledge of basic mathematics.
You must know how to add, subtract, divide and multiply without making mistakes.
In addition, you must know that the higher your accounting degree the more advanced the maths you would face becomes.
For instance, if you are in the area of projection then you need to be perfect at basic algebra which would assist you in using certain formulas to make projections.
In most situations, you don’t need the math used in engineering and other advanced professions. So, if you don’t like calculations and you don’t have any interest in mathematics then you would surely find accounting hard.
The subject would irritate you you may find it hard to continue your studies in accounting which might lead to poor performance.
Accounting as a degree is a career that needs steady research on social and academic work.
You might not enjoy this degree if you don’t understand the basics of accounting. Because the higher you go the tougher it becomes.
Finally, you might find accounting hard if you don’t like numbers, basic calculations, and math problems.
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2. Overwhelming
Most business degree majors can make you stressed out and accounting is one of them.
In college, you would have lots of research and assignments to complete before a deadline. This is the icing on the cake of what taking up a career in accounting looks like.
In addition, when you find yourself a job after graduation you would always find yourself busy with numbers and calculations leaving little or no time for you o do other things.
As an accountant, you would be given roles like bookkeeping which involves numbers and lots of calculations.
You are also going to keep a record of the inflow and outflow of money that comes in and out of a company. Accountants always at all times keep their employers apprised of the funds in an organization.
Since finances revenues and expenses change daily you are constantly going to be working every day with numbers.
In most cases, you are in charge of presentations in the company or organization. You would have to take a record of all the funds going in and out of all areas of the organization.
You would also have to double-check your calculations to ensure that all those who are working with you got their numbers right.
Furthermore, during presentations, you must make your report simple and easy to comprehend for those who are not in the accounting field. This is a lot of work right?
If other jobs require the knowledge of an accountant you would have o fit in time to attend to those jobs because you are a professional.
Being an accountant means you would have little time to spare for other areas of your life.
Some accountants even work after working hours to show you how accounting is hard.
Sometimes your job would get overwhelming which might cause you to deviate from your job.
You might always feel uneasy whenever deadlines are approaching In addition, this situation might even affect your life at home.
Many accountants choose to work longer hours in other to get everything done and miss out on family day outs and events.
This makes life more difficult for these professionals because the job they do can get overwhelming and frustrating, which can make accounting hard.
3. Four-Year Bachelor’s Degree
You cannot succeed in this career without getting a bachelor’s degree from a reputable university.
Although you might find accounting-related jobs that don’t require a bachelor’s degree. But to keep your earnings safe you need to have a bachelor’s degree in any business major of your choice.
You must at least have a bachelor’s degree in accounting to stand your ground on what your earnings should look like.
The issue with getting a bachelor’s in accounting is that the student must have at least 120 credits from an accounting class or any related accounting field.
For instance, you must take cases on finance and finance law. You might also have to take some basic college courses in accounting.
Furthermore, you would also take some advanced classes on accounting after you are done with the basic classes.
Most universities also require accounting students to take electives from other fields that are not related to their degree.
For instance, you might take history or psychology classes.
This is to assist students in gaining a round education after their bachelor’s degree program. So that they can have more opportunities when applying for a job.
These elective courses offer you a new set of skills, experience, and knowledge that are required by many employers and organizations.
The advantage of this process is that it adds more to your plate.
If you find accounting hard, having more courses that would require attention can make it more difficult to study accounting.
Students might find themselves failing their classes because they have so many courses on their plates.
Enrolling in a bachelor’s degree program in accounting might seem hard because you have to focus on many areas, not just accounting.
High school graduates keep asking the question “is accounting hard” because they see the difficulty involved in getting a bachelor’s degree in accounting.
4. Master’s Degree
Although bagging a bachelor’s degree in accounting is great for your CV, you still find the competition to get to certain accounting positions.
This is because a bachelor’s in accounting most times is the minimum academic requirement that you need to get yourself a job.
If you want to be different from other candidates then you should consider furthering your studies.
A master’s degree explores other advanced areas of accounting. It allows you to specialize in a particular field of accounting.
Whenever you decide to take a master’s degree you would have a specialization in mind that you would love to concentrate on.
Furthermore, a Master’s In accounting trains you and Equips you with the necessary knowledge needed to succeed in any specialization that you choose.
In addition, why students feel accounting is hard because getting a master’s degree is much more difficult than completing an undergrad degree in accounting.
During master’s degree programs professors always expect students to have a firm knowledge of everything that was taught during their bachelor’s degree.
If your bachelor’s degree isn’t strong enough then learning more advanced courses may be out of reach.
This degree is hard because it sometimes requires students to get a master’s degree which can be demanding for some students to achieve
Finally, there’s a lot of studying involved in furthering your studies. If one is unable to allocate time and effort to your study, then one might find accounting hard to further in the future.
5. CPA Exam
You must take the certified public accountant examination before you can become a certified accountant.
You must pass the CPA exam before you can start practicing accountancy.
Although some people can get away without taking the CPA exam, they would find it hard to secure an accounting job.
Many companies expect that you have your accounting certification before you apply for a job.
The issue most students have with the CPA exam is that it can be quite difficult. The CPA exam has four sections and they are:
- Auditing and Attestation
- Business Environment and Concepts
- Financial Accounting and Reporting
- Regulation
Some accounting filed would require you to take an ethics exam because you might be dealing with people every day.
Employers want to ensure that you would e able to communicate with people effectively and keep the business moving at all times.
Once you are eligible to take the CPA examination, you would e given a total of 18 months to pass each section. Candidates for this exam need to score at least 75% to pass.
You are required to retake a section If you failed the section but you must register for that section again.
However, if you don’t pass each section within 18 months you would have to start the examination from the top.
In addition, you have had some experience in accounting before you register for this exam. You need at least two months of experience under the guidance of a CPA accountant.
Finding this experience can be very strenuous on your own, but you can intern at companies and organizations, or your lecturers and college counselors can assist you.
You can apply for the examination once you have gotten the required hours needed for the CPA certification.
Furthermore, the exam might look difficult but with the right preparation, studies, and research you are sure going to ace your CPA exam.
Ensure you take practice exam books that can assist you in studying for this certification.
High school students consider accounting hard because of the CPA certification.
Is Accounting Hard? ( Basic Coursework To Consider In An Accounting Major).
Your undergraduate degree in accounting prepares you to examine and solve and advise business owners on the best investment to take.
Although some accounting coursework varies by school and location, you should expect t study math, business, finances, statistics, and legal and regulatory issues.
Furthermore, most of your programs would include courses that would assist you in developing your critical thinking skills, communication skills, and technology skills.
To enable accounting graduates to effectively interact in today’s financial world.
Basic knowledge of mathematics is also very important when choosing accountancy as a degree.
You need to have a strong love of numbers and puzzles. A strong desire to solve financial issues and want to be part of the solution must exist in a student who intends on applying for an accounting degree.
However, these are the common classes that every accounting student must go through before earning their accountancy degree:
- Intermediate and advanced financial accounting
- Intermediate and advanced managerial accounting
- Accounting software and information systems
- Auditing
- Business law
- Business Statistics
- Economics
- Ethics in business
- Macroeconomics and microeconomics
- Principles of management
- Accounting electives
6. Tax Law
Another thing that makes accounting hard is understanding the concept of tax law.
Even if you wouldn’t want to specialize in taxes, you would still need to know how axes work because they would affect your work in every way.
Tax law is another difficult aspect of accounting because of its complexity. You must possess exceptional skills in analysis, communication, and negotiation to pass this course.
Students should be ready to scrutinize and study business structure and constitution to give investors and clients the best possible advice.
To be great at accounting you must be ready to comprehend and understand law jargon especially if you want to work in the taxation sector.
You cannot do feral taxes without understanding tax laws and regulations. Otherwise, you might end up tying the company that owes more taxes to the federal government than they do.
No business would want to overpay their taxes because taxing can be draining especially if the company is a big one.
Understanding the concept of tax laws also gives you an advantage over other candidates. It can help you save business tax dues.
This can future help the business to reduce their expenses and save up money for investment.
In addition, an understanding of tax laws would ensure that the business pays the government taxes that would eventually be used to develop society.
Tax law is also one of the reasons why students say accounting is hard because it can e changed every year which would require you to relearn and reunderstand so many things relating to tax law.
Accounting is hard because it often involves understanding the perplexity of tax laws.
7. Data Analysis
Data analysis is another difficult aspect of accounting. Data analysts organize data in the simplest and easiest pattern.
They spend their time organizing and analyzing data for companies and organizations.
The higher your level as an accountant the more tasks you are expected to complete.
You may find out that you have to work in many industries, including business, finance, criminal justice, science, medicine, and government.
To others, you are not in the field its just numbers and little calculations that don’t require much learning.
Your role is to help businesses make the right investment and buy trending products that can in turn bring sales to the company.
That might mean projecting different investment plans based on the data that you have.
Companies and businesses are going to be looking to you for advice on how to lower costs and increase profit, I have the skills of an accountant and a financial analyst,
The problem with data analysis is that it is not always fun for students.
While it’s a skill and courses learned in school, it’s also something that you learn to get a job.
You may find that what you learned in school is different from what you’re experiencing in the real financial world.
This sort of disconnecting makes it quite hard for students to take up careers in accounting because they might need to relearn so many things that were taught in school.
Accounting is considered hard because it involves a heavy amount of data analysis and calculation.
8. Leadership Or Communication Skills
The higher you climb in your career as an accountant the more difficult your job would be. You would be more involved with companies and organizations as you go higher in your career.
The simple areas of accounting which are bookkeeping and budget analysis don’t interact with business owners of Large businesses.
They are always accountable to their managers or superiors or just a representative of the company.
As you advance in your accounting career you would be required to take up more difficult tasks.
However, it gets fun when you interact with owners of big businesses and leaders of the financial sector.
This is also one of the reasons students ask the question “is accounting hard”? Because they no longer just need a basic understanding of formulas and calculations.
In most cases due to your daily interaction with clients, you would need some form of understanding of communication and public speaking.
Business owners would hold meetings and presentations with you on the data you analyzed for the company.
Your job still revolves around the analysis and organization of data for firms, but it also includes public speaking.
This can make practicing as an accountant hard because some people are not very comfortable with public speaking.
They might not have great communication skills, so presentations and reports might be quite difficult for them. That’s especially true since some business owners expect accounting graduates to be outspoken and bold.
Accounting can be hard because you sometimes have to perform tasks outside of your jurisdiction and zone.
9. Spreadsheet Formulas And Organization
One of the most nightmares of accounting is working with spreadsheets.
A spreadsheet is used in organizing the finances of a firm but it becomes overwhelming when you don’t understand the spreadsheet software.
Many spreadsheets like Excel have formulas that you need to be aware of before you can operate them.
The spreadsheet makes an accountant’s work a lot easier but it requires certain skills in excel and Being aware of formulas that are attached to the different spreadsheets that are available.
Remembering all the formulas according to the different spreadsheets is not an easy task. This can be extremely difficult especially when the business you are working for decided to switch software.
Staying organized at every point in time is one of the strenuous parts of being an accountant.
You would always be on alert to quickly organize tons of information before the deadline.
The use of spreadsheet software can make working as an accountant very studious.
Now you know what you need to consider before choosing accountancy as a degree.
Let’s check out the job offers that are available for accountants.
Is Accounting Hard? (Job Offers That Are Available For Accountancy Graduates)
There are varieties of jobs that would be within your reach if you intend on studying accounting.
The following are the most popular positions for accountancy graduates.
1. Bookkeeper
This is not only one of the best jobs for accountants.
These professionals maintain financial records by tracking income, expenses, overdue accounts, and pending invoices of businesses and companies.
You can work for businesses or work as a freelancer with your customers.
Although during most of your work you would be required to collaborate with other accountants when they need you for analysis.
2. Internal auditor
As an internal auditor, you can work for firms and organizations.
These corporate firms need internal auditors to monitor financial statements, processes and accounts to find issues and suggest the best ways to improve the business.
To be successful in this career you need to be careful because you would be in charge of a lot of information.
3. Cost accountant
A cost accountant is in charge of the company’s expenses.
You would be given the responsibility of analyzing every cost related to labor, materials, shipping, and production.
By analyzing cost, value, and profit you will be able to assist businesses in making the most out of their budget.
Your job is also vital for mapping out the prices of the goods and services that your company would offer the public.
4. Tax manager
Tax managers oversee the taxes that are remitted to the government.
They are in charge of operating and monitoring their company’s taxes within federal, state, and local tax regulations.
This job mostly involves research so you must stay up to date on the changing laws and rules of business.
5. Controller
This is one of the most senior accounting roles in an organization.
You are in charge of funds, bookkeeping, and internal auditing.
To be successful in this role you must have strategic planning and risk development skills.
You also need a strong knowledge of maths to translate financial jargon into reasonable information for other business owners.
6. Staff Accountant
As a staff accountant is your responsibility to perform some bookkeeping tasks like creating ledger entries, reconciling accounts, and critical duties like assisting senior accountants in auditing, processing accounts payable/receivable, and recommending improvements to help the company save and generate financial statements.
This job doesn’t require a CPA certification, if you have a bachelor’s degree you are good to go on this job.
Frequently Asked Questions
Is Accounting A Stressful Job?
From the coursework of accounting, you can tell that accounting is a strenuous degree so you must be prepared before you apply for this degree.
Who Is The Highest Paid Accountant?
Financial Controllers, CMA (Certified Management Accountants), Chartered Accountants, Bank Branch Managers, CGA (Certified General Accountants), and Senior Accountants are the highest-paid accountants.
What Is The Easiest Job In Accounting?
Budget Analyst, Public Accountant, Accounting Assistant, Accounting Clerk, and Bookkeeper are the easiest jobs in accounting.
What Is The Least Stressful Accounting Job?
Forecasting and budgeting are one of the least stressful accounting jobs that are not subject to pressure from critics.
Are Accountants Paid Well?
Accountants are one of the highest-paid professionals especially those that work in finance and insurance, management of companies and enterprises, tax preparation, and the government.
Is An Accounting Degree Worth It?
Yes, an accounting degree is worth it in so many ways. It opens you up to different opportunities in your career.
Is Accounting A Fun Job?
Yes, being able to provide solutions to financial problems makes accounting fun.
Do Accountants Sit At A Desk All Day?
Yes, because most corporate jobs involve sitting behind a computer or desk for a greater portion of your working hours.
Do Accountants Have To Talk A Lot?
An accounting job doesn’t require you to talk so much. The most important skill in accounting is the knowledge of math. However, you might have to communicate with your clients so communication skill is also valuable.
Conclusion
Having looked into most of the bothering questions relating to getting an accounting degree such as, is accounting hard? What job offers can I get as an accountant?
What are the courses I would learn as an accountant? You are now aware of the most important things relating to getting an accounting degree.
Now you can advise your friends and family who are having doubts about accounting.
Are currently enrolled in an accounting degree? If yes, let us know in the comment section.
