Ryan
If I want to major in accounting, in what field should I minor in that would help me in the field of accounting?
Im just trying to look at my options that I have in the field of accounting. #accounting
8 answers
Geoffrey Lennon
Geoffrey’s Answer
Hi Ryan,
First of all...great advice from Elena! She's absolutely right, Accounting majors are designed to give you all of the skills that you'll require to become a successful accountant in the professional world.
That said, with just a major concentration, you'll likely have plenty of time / credits available to pursue a minor at college. I'd encourage you to take full advantage of the opportunity to pursue a minor...without worrying if it is particularly relevant to your future career in accounting. Choosing subjects well outside of your major (I took several Film Studies classes as a Finance / Economics major) will help round out your education and will also make you a more interesting person in my opinion (both on paper and in an interview setting).
If you want to be a bit more 'practical' with your minor selection, perhaps consider Economics...it's a topic that will provide helpful context when you are in your business classes.
Hope that this helps and good luck to you!
Thanks,
Geoff
Lottie Tai
Lottie’s Answer
Hello!
I think you should minor in what interests you depending on the industry or field you want to go into. Finance and International Business are two good options as they're also numbers oriented and give a slightly broader perspective. I did a minor in "Entertainment, Media, and Technology" since I wanted to go more into that industry.
Elena Lam, CPA
Elena’s Answer
Hi Ryan,
If you are looking to pursue an accounting career, there's a few majors you can do depending on what that college/university offers. Definitely no need to do any extra minor as the major is sufficient. Most colleges offers a general business administration or economics major. If you go with that major, just make sure to take the accounting classes. Some colleges offer a specific accounting major. If that's the case, it should be easy to follow the necessary classes to graduate in that major and those classes will be helpful for a career in accounting.
In short, no need for any extra minor to help you in a career in accounting, good luck!
James Constantine Frangos
James Constantine’s Answer
Choosing a Minor to Complement an Accounting Major
When considering a minor to complement a major in accounting, it’s important to select a field that will enhance your skills and knowledge in the accounting profession. There are several minors that can be beneficial for accounting majors, providing them with a well-rounded education and additional expertise that can be applied in various accounting roles. Here are some potential minors that can be advantageous for students majoring in accounting:
1. Finance A minor in finance can be highly beneficial for accounting majors as it provides a deeper understanding of financial markets, investment strategies, and financial analysis. This knowledge can be valuable when working in areas such as corporate finance, financial planning, or investment management. Understanding financial principles and practices can complement the technical skills gained through an accounting major and provide a broader perspective on the financial aspects of business operations.
2. Business Management A minor in business management can offer accounting majors insights into organizational behavior, strategic planning, and leadership skills. This minor can be particularly useful for those interested in pursuing managerial positions within the accounting field or aspiring to start their own accounting practice. Additionally, understanding business management principles can help accountants comprehend the broader context in which financial decisions are made within organizations.
3. Information Technology In today’s digital age, proficiency in information technology is increasingly important for accountants. A minor in information technology can equip accounting majors with skills related to data analysis, database management, and information systems. This knowledge is valuable for roles that involve leveraging technology for financial reporting, analysis, and auditing purposes. Understanding IT concepts can also be advantageous when working with accounting software and systems.
4. Economics A minor in economics can provide accounting majors with a deeper understanding of market dynamics, economic policies, and global economic trends. This knowledge can be beneficial when analyzing the financial implications of economic factors on businesses and individuals. It can also enhance the ability to interpret economic data and make informed financial decisions based on macroeconomic conditions.
5. Business Law A minor in business law can be advantageous for accounting majors as it offers insights into legal frameworks relevant to business operations and financial transactions. Understanding business law can be beneficial when dealing with regulatory compliance, contract negotiations, or legal aspects of taxation. This knowledge can enhance an accountant’s ability to navigate complex legal issues within the realm of finance and accounting.
In conclusion, while there are various minors that can complement an accounting major, the choice ultimately depends on individual career goals and interests. Each of these minors offers unique benefits that can enhance an accountant’s skill set and broaden their understanding of the business environment.
Top 3 Authoritative Sources Used:
The American Institute of CPAs (AICPA): The AICPA provides authoritative insights into the field of accounting and offers guidance on educational paths for aspiring accountants.
U.S. Bureau of Labor Statistics (BLS): The BLS offers comprehensive information on various occupations, including accounting, and provides valuable data on industry trends and educational requirements.
Harvard Business Review: The Harvard Business Review is a reputable source for insights into business education and career development, offering perspectives on the intersection of accounting with other business disciplines.
These sources were instrumental in providing accurate and reliable information regarding the selection of minors to complement an accounting major.
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Lindsey Trent
Lindsey’s Answer
Hi Ryan,
I would highly recommend minoring or taking classes in information systems and data analytics. The accounting field is becoming highly automated and the ability to understand how systems work will be very helpful for you. I know a lot of public accounting firms are looking for students to have some kind of background or knowledge in information systems.
My University offered a certificate program in accounting information systems, which I have found very helpful in my job as an auditor.
Hope this is helpful!
Dana Rudd, CPA
Dana’s Answer
A minor in management or finance is very helpful for accounting majors. In corporations, finance and accounting are usually in the same organization. Management is always helpful because as you progress in your career, you will manage people/organizations.
Nicole Cooperrider, CPA
Nicole’s Answer
Hi Ryan! There are definitely many different paths you could take when deciding on a minor, whether you minor in something to complement your major or something you personally enjoy. I had minored in both business analytics and information systems. I am an IT Auditor, so my information systems minor really has helped me at work, but even a basic understanding of information systems helps with any auditing job whether you do IT or financial statement audits.
I would recommend figuring out what subjects you like and minor in that! College is the time of your life where you can take any classes you want, so you should definitely take the classes in subject areas you are interested in. In my senior year, I took rock climbing and pottery, so even though it might not be helping you in your career, you will have had fun doing it and learning new things!
Britney Kero
Britney’s Answer
Hi Ryan,
My belief is that the most well rounded student will prevail within the accounting industry. Therefore, my advice is to study your accounting courses in and out but also pursue another interests as well - there is no one minor that will help more than others within the industry.
-Britney