Accounting Degree

If you like to work with numbers and are interested in the financial market, pursuing an accounting degree may suit your idea of a career. There are plenty of fantastic career opportunities available and waiting for the individual that has earned an accounting degree. Of course, you must be willing to devote a great deal of time to pursuing an accounting degree in order to practice accounting as a career choice. How much education you require depends upon exactly what you plan to do in terms of an accounting career. The more concentration you place on accounting, the higher the accounting degree needed to pursue that career choice.

The field of accounting is growing at an enormous rate and will do so for many years to come: this is why many universities, both online and off, are offering accounting degree programs. As long as people are interested in starting businesses, the field will grow, as it will for already existing businesses. With the different taxes that have been changed and levied upon businesses over the past several decades, the need for businesses to either contract the services of an accountant or hire one on staff has increased. In addition, businesses have elected to hire in-house accountants for various functions: financial, managerial, taxes, budgeting, and internal auditing. For larger companies, you may even find a cost accountant in charge of production, and a CPA (Certified Public Accountant) who oversees the entire accounting functions of the company.

Before entering an accounting degree program, you want to consider what you want to do when you earn your degree. The more highly skilled accountants require at least a Bachelor’s degree. If you are not quite sure where you want to go after graduation, you can start with an Associate’s degree, which will qualify you for an entry-level position within the accounting department of a corporation or in a smaller company, perhaps a junior accountant or senior accounting clerk.

Unless you have determined with certainty that you want to be a private or public accountant, be certain to take the time to read some information about the different kinds of accounting-related jobs for which you would qualify with different degree levels. No two accounting degree programs are alike and many accounting degree programs are designed to prepare the student for specific accounting jobs. You may also want to check into different colleges and find out what courses they require. You can browse and accounting degree program course listing on the web or you can send for a college catalogue. If you have been working in an accounting department, you may be able to take a test instead of taking all the classes. For those who are new to the field, or those just out of high school, you will more than likely need to complete all the course requirements.

Another thing you want to do before you sign up for your courses is to research the job requirements of those jobs in the accounting field that interest you. By doing this, you will learn what the different jobs are, what they involve, and how much education you require to qualify for a position performing that function. Even if you already know which accounting function interests you, it doesn’t hurt to find out what qualifications you need and what the job entails, so that when you graduate and begin to submit your resume, it will reflect the high standard of your knowledge and education. When you can show an employer that you took the time to learn something about the position for which you are applying, it gives you an edge over someone who has a degree, but little knowledge about the job for which they are applying. This early research is an integral part in determining where you fit within the accounting field.

In the world of business, it is often better to choose a college that is business-focused rather than academic-focused for an accounting curriculum. On the other hand, some experts believe that when it comes time to apply for employment, the word “university” holds more weight than “college.” It is perhaps the thinking that colleges are typically two-year programs, whereas universities are four years or more, but this line of thinking is no longer true. Villa Julie College in Stevensville and Owings Mills, Maryland; Wesley College in Dover, Delaware; and Goldey Beacom College in Wilmington, Delaware are all four-year colleges that offer Master’s as well as Bachelor’s programs. It makes more sense to attend a college that specializes in a business program rather than an academic program, unless your goal is to be a teacher in an accounting–related field.

Another integral part of choosing a college is whether you attend a college close to home where you can commute or plan to go out of the regional area and stay on campus. If you are working and going to school at the same time, this option does not apply to you, but for the full-time student, living on campus or living at home is a choice you must make. Keep in mind that it will be more expensive to live on campus, so unless you or your parents can afford the cost of campus life, you will want to choose a college that is within commuting distance. If you are attending under a scholarship, it may include room and board, but you want to be certain of that before you choose the college you want to attend.

Many colleges today are offering distance learning that includes online courses, with little or no classroom interaction required. Completely convenient and easy to access, such online courses have made it possible for many students to earn an accounting degree. Although the online courses are convenient, you must have the self-discipline to do the work that is required and complete the assignments on time. Not every student has the self-discipline to do that, so you have to be certain that you are the type of student who is able to work independently and can understand instructions without a teacher in the classroom at all times to give directions.

In addition to online courses requiring more self-discipline, the curriculum is often more difficult than the in-classroom courses. It isn’t so much that the courses are shorter, but rather that the lack of a teacher in the classroom needs to be subsidized by an additional workload of assignments in order to learn the same material a lecture provides. A student of online courses also must be able to understand the written assignments and material, since the teacher is not there in a classroom to give the student the immediate answers. Any questions the student has must be e-mailed or placed in a forum for the teacher to answer later.

For the student who has difficulty with self-discipline or has a problem learning new concepts by reading about them in textbooks, online classes are probably not going to work. To be an efficient online student, discipline and the ability to learn quickly and work independently are required. If you are unable to do that, you will not be successful in an online environment and should therefore limit your course selections to those that are presented in a classroom.

The Associate’s degree is a two-year degree program of Business Administration with a concentration in accounting. Of course, in order to complete the two year accounting degree program in two years, the student will be required to study full time. Meanwhile, some students choose to take the two year accounting program on a part time basis, so it takes a little longer to complete the program. Students who select this program will be able to pursue a career in an entry-level capacity in positions such as senior accounting clerks, accounting supervisors, and in some companies, junior accountants. For those wishing to take the test for a certified public accountant, only one state allows that with a two-year degree, and you must obtain four years of experience after you receive the degree to qualify.

Although it takes less time to complete than a Bachelor’s degree, an Associate’s degree is no less strenuous than any other accounting degree with courses in cost accounting, intermediate accounting, business law, and other related subjects. The basis of this degree is mostly in financial accounting, allowing the student to graduate and begin his career in an accounting-related capacity. Many students, especially those who only attend part-time, start with this type of degree, obtain a related position, and take advantage of the tuition reimbursement plans to pursue a higher degree. Still others choose to stay with the Associate’s degree and work their way into the position they want through experience alone. How you choose to use your degree is up to you, but the degree in itself will give you an angle on the job market and allow you to earn more salary than you could with no degree at all. However, if you want to enter the public sector of accounting, you will most definitely need to return to school for your Bachelor’s degree. In private accounting, it will depend upon the company, and you also have the option to work for yourself in that sector.

The Bachelor’s degree is a four-year degree that places more concentration on financial accounting and adds to that managerial accounting as well as various types of auditing. As it is with the two year program, the Bachelor’s Accounting Degree program can be studied on a full or part time basis. With this degree, one still has a Business Administration degree with the accounting concentration, but it also allows a graduate to enter into the field of public or private accounting. In addition, after two years of experience, an accountant can elect to take the test to become a Certified Public Accountant, a field offering an even greater level of expertise, knowledge, and of course, income. Of course, the two years’ experience must be obtained after the degree is issued, even if you worked as an accountant or in an accounting capacity prior to the completion of a degreed program. This requirement doesn’t make a great deal of sense, because if one can sit for the sixteen hours it takes to complete the test and pass it, why should it matter? Unfortunately, we can only follow the rules; we did not make them.

Although many accountants who pass the CPA test do go on to run their own accounting firm, many also work for large corporations in their accounting departments, with many being managers and above. In addition, for some people who seek the services of an accountant, the CPA tends to give the accountant an additional edge of confidence in the eyes of those who pursue their services. For that reason, many accountants that are in business for themselves make sure that they are certified since it draws in more business, and more business means more cash flow. That being the case, you want to consider very seriously preparing for this test after you obtain your first accounting position after graduation.

Although most people tend to stay with the Bachelor’s degree, the Master’s of Business Administration offers a great deal more expertise to the experienced accountant who can be either a Certified Public Accountant or a Chartered Financial Analyst, among other possibilities. More education, of course, also translates into higher pay, more responsibility, and more job opportunities. A financial analyst, for one, has potential to make in excess of $100,000 a year within a short period. Certainly, in today’s economy, no one is going to laugh that one off by any means. You also open other opportunities for yourself such as teaching and even becoming a writer of books that relate to the subject of your expertise. You may be called upon by companies who want to increase their profit margin and aren’t quite sure how to do that. With your experience and training in financial analysis, you will be able to create a reputation for yourself as a financial and budget analyst.

With a Master’s in Business Administration and an accounting concentration, it is not likely you will ever find yourself out of work. If your company downsizes, you have the option to work for yourself, and if you have been good at your position, finding funding to do that should not be difficult. Even without funding for your own business, your home can become your office as you build a business of your own. For those who are not interested in self-employment, you will not have much trouble finding a new position after a downsizing or layoff. The higher your degree, the easier it is to find a comparable position with another firm.

Probably the most overworked of the accountants is the tax accountant. Though his job may be focused around a seasonal period, his clients will demand his help all through the year, especially the business clients. Companies who have found out they are due for an audit will be knocking on his door to check their books for accuracy and legality, while others will be keeping his phone ringing, trying to find a way to save on taxes by finding a new means of deducting depreciation, how to avoid paying taxes on inventory in the warehouse, what capital expenditures are likely to affect taxes for that year, and what kind of tax breaks can the company realize for any number of different scenarios, including welfare to work breaks.

For the tax accountant, the day never ends, because there are always questions to be answered, calls to make, and clients who need help filling out one form or another. If your pursuit of an accounting career is to enter into a field that promises a 9-5 routine, tax accounting is not the one to enter. There are definitely times that are worse than others, but there is no time that leaves a tax accountant free of meeting clients after hours, visiting worksites on a regular basis, talking on the phone for hours at a time, or preparing forms that a client has paid you to prepare. The job of any accountant is never easy, but that of a tax accountant is probably the most gruelling of all, at least in the first calendar quarter or every year when both business and personal clients are monopolizing your time in order to file taxes or prepare for an extension in order to gather the necessary paperwork for filing.

Though the pursuit of an accounting degree can be stressful and somewhat tedious, the rewards are longstanding in the end. Accounting offers so many different types of positions you can pursue, and, most especially, the option to own your own business and be in charge of your own income level. Whether you choose the Associate's, Bachelor's, or Master's degree programs, there is a position for you in either an accounting department or accounting firm for which you will be qualified.

It's important to remember if you choose the Associate's degree, you are looking to enter into positions that are entry level. For someone just out of high school, this works quite well, because, at a young age, you still have plenty of time to gain the experience, expertise, and additional education you will need in order to become an expert in the field of public or private accounting. For the seasoned worker, starting with an Associate's degree while you are working is the best investment you can make into your future. Many people see four years as a long time and become frustrated because they can't see an end, but if you start with two years and then take the additional courses for a Bachelor's, it doesn't seem so difficult to achieve.

Pursue your dream of having an accounting degree, and whether you choose on campus or online, give it your best effort. Don't settle for just a passing grade, but strive for the top of your class. Don't beat yourself up over a lower grade as long as you gave it your all. Remember, a grade is reflective of you, and if you are sure you gave it your everything, you are better than the person who got a grade because they were willing to "settle" for just average.