Study accounting is an exciting career for anyone looking for a bit of a challenge during their academic and job life. It has also become quite popular over the years, with more students opting for accounting majors in their bachelor’s and master’s degrees.
Several compelling reasons make accounting a good field to study, which we have outlined below in case you’re wondering to study accounting and make a career in it.
Diverse work settings
Accounting is a versatile field offering a wide range of career options to its graduates who can work in various industries, including public and private accounting firms.
Furthermore, you can find jobs in corporate finance departments, government organizations, non-profit organizations, and even start your own accounting practice.
This versatility in accounting ensures you are not short of opportunities once you graduate from a prestigious institution. And you can find a career option in a niche that aligns with your interests and long-term career goals.
Multiple study modes
Another reason for studying accounting is that multiple study modes exist, such as online and offline, to continue your degree. Hence, the degree offers flexibility to people with various lifestyles, preferences, and responsibilities.
Some study modes available to you when pursuing an accounting degree are the following.
On-campus Programs
If you prefer traditional classroom-based education, you can enroll in an on-campus bachelor’s or master’s in accounting program. This option is ideal for those with no strict family responsibilities, such as kids or parents to watch over.
Online Programs
Online programs are ideal for students with work or family commitments or other situations preventing them from attending college or university. Many prestigious universities offer remote degree programs such as online bachelors in accounting or online master’s in accounting programs, allowing these students to continue their education from the comfort of their homes.
Accelerated programs
Some universities allow you to enroll in accelerated accounting programs and complete your degree quickly. Though these programs are intensive and require more commitment, they enable you to join the workforce sooner and start your career.
Various Career Opportunities
Most people mistakenly believe that accounting is limited to auditing and taxation, but that could not be any more far from reality. As the business landscape continues to evolve, so does the job of accountants. In fact, an accounting degree can open up an exciting world of career opportunities.
Once you have the right qualifications, you can explore various roles within the accounting field, including risk management, management accounting, business analysis, and payroll.
Furthermore, an accounting degree doesn’t limit you to any specific industry. You can venture into entrepreneurism, financial technology (FinTech), and sustainability, to name a few.
This diversity allows you to choose the role you envision yourself performing, whether it is financial analysis, problem-solving, or strategic planning.
Offer Transferable Skills
You might require some basic skills, such as proficiency in English and Mathematics, to start your career in accounting. But did you know becoming an accountant will allow you to learn transferable skills that can applied across industries?
These skills extend beyond accounting and finance, enabling you to become well-rounded and adaptable professionals. Transferable skills can help you perform various roles, whether that of an executive, business professional, or an employee in a multi-national company.
Hence, they benefit you through various stages of your professional career. With that said, below are some of the transferable skills you will learn by studying accounting:
Evaluation and Problem-Solving Skills
These skills are keystones of the accounting profession, preparing you to analyze complex financial data, identify inconsistencies, and suggest effective solutions.
Attention to Detail
This skill is indispensable for anyone wanting to excel in accounting. Attention to detail allows you to ensure accuracy in financial statements, tax documents, and audits.
Organizational Skills
Studying accounting makes you more organized. You learn to manage large volumes of financial data, meet deadlines for reporting, and keep records meticulously organized.
Communication Skills
Like any other field, communication skills or reading skills are crucial for accounting roles. Effective communication skills allow you to explain financial information to non-experts, such as your clients or colleagues.
Opens Doors For Further Study
With accounting education, the sky is the limit for continuing your education. With a range of study options available after an accounting degree, the only difficulty you will face is deciding which career path to choose.
Suppose you have a bachelor’s in accounting; the next step can be to enroll in a master’s in Accounting, which focuses on advanced accounting principles.
Furthermore, a master’s in business administration with accounting specialization is also an excellent option to work in leadership positions in the business world.
Beyond master’s degree programs, you can explore other educational paths,such as pursuing a Ph.D. in accounting or related fields. A Ph.D. is a suitable higher education degree if you are interested in academia, research, or contributing significantly to the field’s knowledge base.
However, when enrolling in any degree program, research all the admission requirements and requisites for a smooth transition to higher education.
High In Demand
Among everything you must consider when selecting a degree program, the number of jobs available for its graduates is one of the crucial aspects. There is no point in choosing a field that is showing lackluster growth and demand.
But luckily, that’s not the case with the accounting field, which has been growing steadily over the years. The growth in the accounting field hints that you will most likely get good employment opportunities once you complete your degree.
In fact, the employment of accountants and editors is estimated to grow by 4% between 2022 and 2032, according to BLS.
Work Anywhere In the World
One of the most appealing aspects of an accounting degree is that it does not restrict you to working solely in your home country. Accounting professionals are required worldwide, and the skills you attain during the accounting degree are highly transferable.
Besides this global demand, some internationally recognized accounting certifications allow you to work anywhere in the world. One of those certifications is ACCA Global, which enhances your professional credibility while allowing you to start your global accounting career.
Whether it’s auditing financial statements in New York or advising on tax matters in Singapore, ACCA Global certification empowers you to work in various international settings. Hence, accounting education is ideal for exploring the world, working, and gaining diverse experience.
Conclusion
Several reasons make accounting a good study option for launching your professional career. From providing promising career opportunities to enabling you to work in various industries, studying accounting can be one of the best decisions of your life.
You become someone whose skills are always in demand and can work in any part of the world. So what are you waiting for? If you are considering enrolling in an accounting degree, it is time to move to the next step: collect information about your chosen program and kickstart your accounting career.