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Is Accounting the right degree?
I am a junior in the University of North Texas at Dallas. My degree is Accounting but I am afraid I am making a wrong choice in regards to my degree. I feel this way because I have heard that Accounting is very boring. What I want to do is help with the profit of a company. Is this the right major?
#accounting #major #university
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Allison’s Answer
Getting an Accounting degree doesn't mean you have to become a traditional accountant. I majored in Accounting, work for a traditional accounting firm, but work within the management consulting side of things. Although I don't just do accounting, I daily use my accounting skills, whether it is researching 10Ks, building financial models, discussing how making a management or operational change will impact a company's bottom line, etc.
If you aren't sure about Accounting, you can always tack on additional minors, certifications, or possibly a major, if time permits. Personally, in addition to my BS in Business with a concentration in Accounting, I have certifications in International Business and Finance, which helped me transition into consulting.
In general, I have friends and colleagues that majored in something and are now doing something completely different. For example, a friend majored in aerospace engineering and is now working for the commercial real estate group at Goldman Sachs. Accounting can be translated into so many different fields, so I don't think you can call it a "wrong" major until you have an idea of what the "right" major or career would be.
The guidance I have for you is just to first make sure you get good grades, are involved in extracurricular activities, have experience in leadership positions, and are able to present yourself well. Next, attend career fairs and talk to recruiters about what a day in the life is like for their employees. You might be surprised with what an "accountant" will do or you may find something completely different that interests you.
Good luck!
If you aren't sure about Accounting, you can always tack on additional minors, certifications, or possibly a major, if time permits. Personally, in addition to my BS in Business with a concentration in Accounting, I have certifications in International Business and Finance, which helped me transition into consulting.
In general, I have friends and colleagues that majored in something and are now doing something completely different. For example, a friend majored in aerospace engineering and is now working for the commercial real estate group at Goldman Sachs. Accounting can be translated into so many different fields, so I don't think you can call it a "wrong" major until you have an idea of what the "right" major or career would be.
The guidance I have for you is just to first make sure you get good grades, are involved in extracurricular activities, have experience in leadership positions, and are able to present yourself well. Next, attend career fairs and talk to recruiters about what a day in the life is like for their employees. You might be surprised with what an "accountant" will do or you may find something completely different that interests you.
Good luck!
Armin O.
Independent Finance Consultant | Change Agent | Process Optimizer | IT-oriented Finance Professional
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Armin’s Answer
One universal truth in business is that nothing happens without the involvement of accounting/finance. Accounting jobs can be boring or can be really interesting, depending on where you end up and what you make of it.
In this day and age, with ERP systems as advanced as they're getting, accounting is a lot less about debits and credits and a lot more about reporting and supporting management decisions. That said, in accounting, like in every other job, you will have your daily grind and seemingly mind-numbing tasks, but the further you go up the ladder the less repetitive your day-to-day gets, as you move from transactional to strategic finance.
Ultimately, it's all about the path you end up taking. I became a finance director responsible for a $300m budget in a Fortune 100 company without ever booking an entry myself. You have to know how running the books works and be able to understand discussions about accruals, capitalization, etc.
And one last thing - a lot of CFOs are accountants - do you think their jobs are boring? :)
Good luck!
In this day and age, with ERP systems as advanced as they're getting, accounting is a lot less about debits and credits and a lot more about reporting and supporting management decisions. That said, in accounting, like in every other job, you will have your daily grind and seemingly mind-numbing tasks, but the further you go up the ladder the less repetitive your day-to-day gets, as you move from transactional to strategic finance.
Ultimately, it's all about the path you end up taking. I became a finance director responsible for a $300m budget in a Fortune 100 company without ever booking an entry myself. You have to know how running the books works and be able to understand discussions about accruals, capitalization, etc.
And one last thing - a lot of CFOs are accountants - do you think their jobs are boring? :)
Good luck!
Thank you!
Jasmine
Updated
Ideki’s Answer
This is such a great question! When I was in college, I also needed guidance as to what different accounting paths were like, in order to understand what I was getting into. I recommend you participate in any accounting clubs your school offers. It allowed me to understand the difference in accounting paths: audit, tax, financial, managerial, bookkeeping, construction, law, real estate, and much more. These clubs can help expose you to what a day in the life of accounting is like. Be active in obtaining internships to get paid and see for they have to offer. Good luck!
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Bridgette’s Answer
You are not the only one who has heard that accounting is boring. Accounting is a very broad job field that can go in many directions including working for a corporation, public accounting, teaching, book keeping, etc. You can find a path that is aligned with your goals and interests. Hope this helps!