Why Choose Accounting?
Today’s accountants, and especially those who become Certified Public Accountants (CPAs), exhibit a broad range of knowledge about “all of business.” That’s why they call accounting "The Language of Business". Many accountants have the skills and experience to be business advisers and consultants for virtually any type of business or industry. Accounting is no longer just “bookkeeping and taxes.” Today’s accountants (especially CPAs) are prepared to be financial planners, business managers, fraud investigators, and chief executive officers. So an Accounting degree or major can launch you into more business opportunities than other business-related degrees.
Accounting is an excellent foundation for virtually any career in business. Accountants must have a thorough knowledge of the financial aspects of business, but also be broadly educated about how the entire organization functions (management, information systems, production, distribution, marketing, human resources…). This is because many times proper accounting and related financial controls depend on HOW the organization functions: how it produces, when it distributes, how information is processed, who does what, where it happens, and so on--- more reasons why accounting is “The Language of Business.”
Many other career options also work well with accounting as a foundation. The legal profession has to deal with complex financial transactions, especially in corporate law, and the breadth and depth of an accounting education provides insights needed to analyze many legal issues. Careers in banking many times depend on evaluating the financial worthiness of making loans to businesses and individuals--- understanding accounting provides a unique advantage in being able to assess the financial viability of a bank’s potential loan customers.
Accountants are business advisers. Who best to consult with about starting a business, growing a business, buying a business, selling a business… than your accountant who understands the most about business and can relate how tax laws may impact these issues. Many accountants are also financial planners for individuals and businesses--- planning for retirement, saving for college, transferring wealth to heirs (estate planning), and business succession planning (getting the family business to the next generation).
Accountants are investigators. Auditors are accountants who have a special ability to investigate whether accounting and financial reporting is being done properly and whether complex financial rules (federal loan rules, Medicare/Medicaid, pension laws, international regulations…) are being followed. Society depends on the auditor to make sure an unbiased picture of financial events is being reported so that people can invest with confidence. Some accountants ultimately specialize as “fraud investigators” (forensic accounting) and as Special Agents with the FBI.