For those who don't know, Accounting is the
language of business and is needed now more than ever before. It is the
backbone of all businesses and therefore is a very broad subject.
Today, there are more CEOs with degrees in accounting than any other
area of study. College students that are unsure which area of business
they would like to study should seriously consider accounting. Career
opportunities associated with a degree in accounting are practically
endless due to how broad the subject is. Job opportunities include
public accounting, government, private industry and forensic
accounting. There are also opportunities in tax preparation, cost
management and even jobs with the FBI. Accounting opportunities are not
limited to the ones named above.
Another reason college students should consider
studying accounting is the condition of the economy. Due to the
recession that our economy is going through, many industries are
cutting down on jobs. One area of business that is still thriving is
accounting. Various businesses are realizing how important it is to cut
down on costs to make their business more profitable during this time
of economic crisis. They also realize how important it is to have
strict set of internal controls to make their business more efficient.
The only way to ensure that both of these can happen is through
stringent accounting. After reading this it should be no surprise that
accounting jobs may be on the rise.
According to the American Institute of Certified
Public Accountants, 91% of accounting firms expect hiring to increase
or at least remain the same. This is great news for college graduates
who are seeking a career in accounting. So many college students have
been worried that they may not have a job when they graduate due to
today's economic crisis. With a steady rise in unemployment it is
comforting to see that there is still a high demand for accountants.
Job opportunities are not the only reason that
college students should consider accounting. The job can be very
rewarding as well. The average salary for accountants as of March 9,
2009 is $51,000. This salary can change based on company, location and
industry.
Internal controls are important for a business to
control internal theft. Without a good set of internal controls it
would be too easy for employees to steal cash or even merchandise. An
important aspect of internal controls that is important is separation
of duties. This means that no one person performs all the jobs of a
company. This ensures that one person checks someone else's work making
it difficult to fabricate accounting data to steal money from the
company. Accounting provides a basis for these controls and checks to
see if they are being enforced.
With accounting frauds becoming more and more of a
problem there is more of a demand for people with accounting knowledge
in the FBI. They need people who are able to decipher financial
statements and pick out bad accounting form in order to uncover
sophisticated accounting frauds. Accountants are also needed during
trial to provide lawyers and prosecutors with testimonial evidence. It
can be a very exciting and rewarding area of accounting. Many
accountants feel rewarded by uncovering and prosecuting those who try
to profit from manipulating financial data. With more and more
accounting frauds being committed each year, there is more of a need
for strict audits by accounting firms. This means more business for
accounting firms and ultimately more jobs for accountants.
If you are a college student searching for a major
it would seem wise to pursue a degree in accounting. The opportunities
that this degree can provide for you may be endless. You may find
yourself working for a large accounting firm or even owning your own
private, small scale CPA Firm. You may also become a CEO or a CFO of
just about any company being that accounting is the backbone of
business. It is safe to say you can't go wrong with a degree in
accounting.
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