6 answers
Diego
Student
Annandale, Virginia
1
Question
Asked
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How Finance/accounting impact your life?
Hello, my question is how did you decided to become an accounting/ finance major and how this job impacted your life?
I'm currently leaning towards an accounting career but i don't know if it is the right career for me. I love math but i don't know if i want to do it for the rest of my life.
Also What are the advantages and disadvantages of this rigorous career?
Thanks for your response
#career #finance #accounting
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6 answers
Brittany Goodell
Compliance
3
Answers
Newport, Vermont
Updated
Brittany’s Answer
Hey Diego, that's a great question! One thing that I think is important to understand is that accounting isn't necessarily a lot of math. It's a lot of organizing numbers, but it's not so much 'math' in the traditional sense. Sure, you'll be adding/subtracting, but most of that will be done for you with the systems. Rather, accounting is about understanding the company as a whole (all of the separate departments, how they work together, how they lean on each other, etc). When you join an accounting department, you'll see a company in a whole different light. You'll get a broader understanding of how all of the pieces fit together, you'll undoubtedly work with/speak to employees from nearly every department, and you'll get to be a part of the discussion when it comes to the company's overall financial goals.
That being said, I'd recommend accounting if you like to stay organized, you enjoy routine taskwork, you're curious about the bigger picture, and you like to work in a quiet atmosphere. The accounting offices I've worked in have all also expected their team members to be self-motivated...you won't come in to a list of things to do created by someone else....it'll be on you to understand and prioritize your monthly duties.
The advantages in my opinion are:
1. A relatively quiet work environment
2. Endless opportunities to learn and grow
3. Getting closure/knowing when something was done correctly - in accounting, if something doesn't balance out, you'll know...and you'll have to use your critical thinking skills to get to the bottom of it. But once you figure it out and everything balances out, it's a nice feeling and it's very reassuring.
4. Getting to work closely with higher ups within the company (regardless of your position within the accounting team). You'll likely work closely with Managers and CFOs on a daily/weekly basis.
5. Accounting is necessary for nearly every company/business. So, if you go into accounting, your opportunities of places/businesses to work for are endless! - And to add to that, accounting is usually a pretty secure job (since it's a key player in all businesses), so you don't usually have to stress about getting laid off unless the company itself is going down.
The disadvantages I've found are:
1. Some days you might leave the office pretty stressed. If things are balancing out, there's big errors, or finances aren't ideal, there can sometimes be lots of pressure/stress put on you from managers or the CFO to get things corrected.
2. The work can be monotonous at times. You'll usually have the same monthly work to do, so it can get repetitive and won't get the same type of excitement in accounting that you might get elsewhere.
3. You'll have to deal with a wide range of people (from other departments or companies), and that opens up the risk of dealing with difficult people.
That being said, I'd recommend accounting if you like to stay organized, you enjoy routine taskwork, you're curious about the bigger picture, and you like to work in a quiet atmosphere. The accounting offices I've worked in have all also expected their team members to be self-motivated...you won't come in to a list of things to do created by someone else....it'll be on you to understand and prioritize your monthly duties.
The advantages in my opinion are:
1. A relatively quiet work environment
2. Endless opportunities to learn and grow
3. Getting closure/knowing when something was done correctly - in accounting, if something doesn't balance out, you'll know...and you'll have to use your critical thinking skills to get to the bottom of it. But once you figure it out and everything balances out, it's a nice feeling and it's very reassuring.
4. Getting to work closely with higher ups within the company (regardless of your position within the accounting team). You'll likely work closely with Managers and CFOs on a daily/weekly basis.
5. Accounting is necessary for nearly every company/business. So, if you go into accounting, your opportunities of places/businesses to work for are endless! - And to add to that, accounting is usually a pretty secure job (since it's a key player in all businesses), so you don't usually have to stress about getting laid off unless the company itself is going down.
The disadvantages I've found are:
1. Some days you might leave the office pretty stressed. If things are balancing out, there's big errors, or finances aren't ideal, there can sometimes be lots of pressure/stress put on you from managers or the CFO to get things corrected.
2. The work can be monotonous at times. You'll usually have the same monthly work to do, so it can get repetitive and won't get the same type of excitement in accounting that you might get elsewhere.
3. You'll have to deal with a wide range of people (from other departments or companies), and that opens up the risk of dealing with difficult people.
Kevin Vesely
Senior Manager at PwC NQO
9
Answers
Florham Park, New Jersey
Updated
Kevin’s Answer
Great question and one that can be answered differently by everyone. I always considered accounting to be a possibility but I wasn't sure about it. I started off in college as a history major but it didn't take long to realize that I would be limited in the different career opportunities that existed for history majors which was somewhat limited to teaching. For that reason, I started to explore accounting and this is what I found. 1) There are A LOT of different ways to use accounting degrees. Accounting careers can be very different from one another so there is a lot of room to find what fits you. For example, I am good at math but don't love it. Spreadsheets don't thrill me. My favorite part of my job is all the relationships and client service that I get to do. Some accounts don't like those things and have pursued paths that look very different. You have options. 2) Because of answer one, there are lots and lots of jobs. You can live or move to anywhere in the world and there will largely be accounting jobs if there are people there. I wanted that flexibility because I did know where life would take me. 3) The jobs pay pretty well, especially for not needing a masters or doctorate (note that some states require 150 college hours to sit for the CPA). With how expensive college can be, its nice to be able to get out into a meaningful career quickly if you desire. I am very happy with my choice. Accounting has supported me and my family (wife and two kids) and we have been very happy. My wife has even been able to stay at home with our kids; something she wanted to do but wouldn't have been possible without me having a good job. Good luck and good job asking the right questions from the start!
Thank you so much Mr. Vesely for your answer; it is a great inspiration to study accounting.
Have a nice day.
Diego
You too Diego! Good luck!
Kevin Vesely
Katie Neumeyer
Associate Financial Analyst
9
Answers
Minneapolis, Minnesota
Updated
Katie’s Answer
Hi Diego,
I decided to major in finance because I am analytical, detail oriented, and enjoy understanding how a business works. I also liked that there are many different career paths that you can take with a finance degree. All businesses need finance and accounting roles. I have really enjoyed my career choice so far! I have been able to utilize my strengths at a company that aligns with my values.
I decided to major in finance because I am analytical, detail oriented, and enjoy understanding how a business works. I also liked that there are many different career paths that you can take with a finance degree. All businesses need finance and accounting roles. I have really enjoyed my career choice so far! I have been able to utilize my strengths at a company that aligns with my values.
Shawn Hill
You can do it!
12
Answers
Dallas, Texas
Updated
Shawn’s Answer
Finance and Accounting are wonderful careers, but they can also be very challenging. It is not all about the numbers. The key is to try and make the numbers have meaning. Numbers are all around us and Finance will do nothing but become more important in the future. The key is to have a good balance with being good with numbers and being able to present your ideas. Many can do one or the other, but not both. I would strongly encourage groups like Toastmasters. Here you will be able to brush up on your presentation skills. Finance has helped me understand money better. I wish you the best!
Marie Kling
Partner at PwC
5
Answers
Florham Park, New Jersey
Updated
Marie’s Answer
I decided to have an accounting career because I can learn something new everyday, and get to work with many interesting people with different backgrounds. An accountant learns a lot about the business , transactions companies enter into, and how financial results impact the strategic decisions companies make. It also gave me the opportunity to travel and work in different countries. To be successful, you need good analytical skills, and be detailed oriented. But is almost important to understand the business purpose of transactions, and have good interpersonal skills since accountants work with many different functions within a company.
Thank you so much Ms. Kling for your answer.
Have a nice day
Diego
Mohamed Hussiny
Auditor
9
Answers
Cairo, Cairo Governorate, Egypt
Updated
Mohamed’s Answer
I believe accounting and finance can change your mindset it give you analytical mind and critical thinking skills.