A college education does not come cheap. But, costs aside, the time and effort put into graduating college are a significant investment as well.
It’s therefore unsurprising that college students like to know exactly how their discipline of choice will support future endeavors.
If you are looking at accounting, the benefits are plentiful. Here are some advantages of studying accounting.
1. Ample support
As you take your accounting course, it is good to know that you will not walk the journey alone.
You will have enough resources to accord you the help you might need along the way. This is both within your school and outside.
Within school, you will have curse instructors and your peers. Outside of school, you will have accounting blogs and Vlogs as well as online tutors. Online tutors can be accessed from a website, which is where all learning activities take place.
2. It Lays a Good Foundation
Accounting is an excellent place to start if you want to get into economics or finance later on.
A sound understanding of accounting lays a stable foundation that allows you to develop broader monetary theories. This is because accounting teaches you how to apply accounting methodologies, money management, and financial recording and reporting.
3. Good Earning Potential
Graduates with a degree in accounting have the opportunity to earn good salaries depending on the careers they settle on.
Your potential earnings increase as you get more experience and advance your studies. You can also make more by focusing down on a sub-niche of accountancy. Accountancy has a wide range of niches to explore, especially because there are different standards to learn. When you start looking at international accounting and tax there really is a lot of money to be made if you can start providing businesses with top-level advice.
Before you get into the really technical aspects of accounting, you’ll need to learn about accounting basics like double entry, bookkeeping, lease accounting and straight line depreciation. Once you’ve nailed the basics, you can start looking at the more complex elements of accounting. It’s like a house. You can’t build the walls without the foundations.
4. Excellent Job prospects
Certain courses can limit one to a specific industry. Accounting courses do not have these limitations.
With accounting skills, you can practically work in any industry you choose, from health to engineering to marketing.
Every business, regardless of its line of work, needs someone to crunch the numbers. This means that you are likely to enjoy good job prospects with accounting courses and are unlikely to be out of work for too long at any given time.
This means you can plan your finances better and achieve your goals that much faster.
5. Flexible Career Path
Graduating with an accounting degree gives you a myriad of career paths to choose from. You can go into public or private accountancy. However, it does not end there.
You can pursue a career as a forensic accountant, tax accountant, stockbroker, and so on. But, of course, options like data analyst, mortgage adviser, and business development are worthwhile considerations as well.
6. You Can Work Anywhere
Accounting remains the same regardless of which country one works in. If the opportunities at home do not fulfill you, you can easily find work abroad.
However, this will require an ACCA certification, which is a small price to pay for the ability to work anywhere globally, learn about different cultures, and meet professionals from all over the world.
Again, the fact that you can work at home or abroad further increases your demand as a professional, which is a desirable situation to be in.
7. Its Widely Applicable
Your accounting know-how will not be limited to your schoolwork or career life alone. Hardly so.
Accounting is a course that’s highly applicable in other areas of life as well.
You use accounting skills to reconcile shopping receipts to determine whether you have the correct change. You do the same when looking over your bank statements.
Each time you file your taxes, you are doing some accounting. The same applies to when you are looking at different credit facilities to pick the best.
As you can see, the accounting will support your life in many more ways outside your professional life.