Why I Choose Accounting as a Major - Essay Example

Why accounting as a major This is the measurement, processing and actual communication of financial information on economic entities of an organization. It is used to measure the results of business activities of an organization and communicate the same to the integral members of the organization, who include investors, management, regulators, and creditors. Professionals in the field often known as accountants carry these processes. Financial reporting and accounting can be used as synonyms most of the times. These fields can be divided into several sub-branches, including management accounting, financial accounting, tax accounting and auditing. Financial accounting is the reporting of the financial information about a particular organization or company to the external stakeholders or potential stakeholder that include, investors, suppliers and regulators, the report is mostly in the form of financial statements. Management accounting mostly focuses on measurement analyzing, and reporting of financial information for internal use in decision making by the management. Bookkeeping which is also done by accountants, is the process of recording all the financial transactions of an organization that will be used to provide summaries that are usually presented in final reports of most of these financial reports. Most of the time the processes of accounting are done by accounting organizations that are not usually part of an organization. They come in as external auditor to assess the efficiency with which a particular company is managing finances. One of the most basic motivations towards one undertaking a particular major in college is the interest and conformity with the requirements of that particular degree. In my case, accounting has been my major area of interest for the fact that it offers diverse opportunities to learn the business market and how it operates. At the same time, one has to ensure that he or she understands the basic requirement in terms of personal attributes for optimal performance. For instance, while working as an accountant, one has to be good at mathematics, detail oriented and organized. Most of the time, the workload given to an accountant is manageable and one can be able to meet the targets easily. However, as Bragg (34) affirms, it needs some degree of organization to enable one to carry on tasks within stipulated time and with maximum attention. Moreover, accounting deals with mathematics when coming up with the reports, therefore before one decides to take on the career, they have to be certain that they have the necessary mathematical skills to take on the tasks. This is very important because it will determine the ability for one to handle the course and the ability to enjoy their work once they start working. Therefore, these are some of the major aspects I have looked at and confirmed that to take accounting as a major. Importance of accounting as a career. Apart from one just working for an organization providing the accounting skills at any capacity, one gets to learn a lot about business and how to succeed in business. This is very important for any individual for the fact it improves the spectrum in which one can diversify since they learn a lot about operations of other business while at work. After some time of working with an organization, one eventually learns of the ways in which companies can make more money and mitigate risks at the same time (Moss, 35). Thus, it provides the professional with not only the job opportunities, but also with the necessary knowledge that they need in case they want to plunge into full time business at any time during their career. This knowledge on how to run other businesses, will allow one to explore areas of interest without much of a hustle since they will be having the necessary knowledge that is needed to run any particular business. The skills will be useful while working in all these industries. Thus, it prepares one to be autonomous by educating them on a myriad of activities and businesses in which one may choose from as they move to self-employment and business empire creation. Accountants have a large market and surging job opportunities throughout the globe. This is for the fact that each small business is in need of an accountant. Small towns and largest cities alike are in dire need of these services. They both need financial analysis so that they can make sound decisions that will see organizations develop much faster and ensure that there is efficiency in utilization of funds (Albrecht & Robert, 23). Everybody desires to manage their time as much as they could. This is very important since it will make it possible for one is able to manage both work and family at equal measures. Moreover, it makes it possible to be able to manage all their business and at the same time utilize their accounting skills as working for the organization. Accounting provides this form of flexibility when one gets self-employment. This can be possible, by one working for a particular company or people by preparing taxes for them. These kinds of work, enabled one to take the amount of work they desire at the same time choose the time that they will work. That champions the desires of the accountant. This is very important since it will increase productivity and at the same time provide more time to engage in their socioeconomic activities that are equally professional. In addition, accounting is well paying job in the world today. For instance, according to Hall (315) in the United States, a fresh graduate can earn up to $ 30,000 to $40,000 a year. The fluctuations are subject to workload and the company that one is working for. With more experienced accountants, one can be able to earn up to six figures a year in most companies. This is important for the fact that the financial stability of any employee, will most of the time be reflected in the concentration they give the work they do and the quality of their work. Thus, it is important that all employees have peace of mind and financial stability that can see them through even when there is an economic crisis in a country. Accounting is one of the professions where one can be cushioned from the effects of the economic crisis for the fact these professionals earn well. Career opportunities Accounting is quite wide and thus gives one an opportunity to be specific on an exact area that they will explore to perfection. Hence, it further provides opportunities, for individuals in the profession to further seek to work in areas that they are comfortable with. There are three major areas under which accounting is categorized and it includes private accounting, public accounting, government and not for profit accounting. Before one completes the accounting course, he or she has to choose on the career path that suits him or her better, thus I choose this as my major for the fact that it provides further diverse pathway that allow me to be more specific in the preference of the career to take in life. Most people dislike accounting for the fact that during some periods of the year, there is increased workload hence making it impossible for one to balance between family life and work. This mostly happens when the taxes are being prepared a period that last from January to April. Having had that knowledge in mind, one will have to take advantage of the advancement in technology and work from home; hence, they will be a position to attend to family life. In any kind of work, one needs to prepare his or her time well and giving change to everything in life. Thus, as an accountant these is not of exceptional, proper management of time and distribution of work, will enable one to have more time with family since they will be able to create this time. One having to utilize each minute they have to work since there are more technological advancements enabling one to work form even at home or in the car as they are heading home can create it. This of the essence here is proper time management. Working with a large accounting company, may lead to increased deadlines within a short time frame since they want to work for many clients within the shortest time possible. This is likely to cause burnouts among the accounts and deny them time to engage in social activities. However, these can be resolved by one resolving to self-employment (Scott, 16). Once one is self-employed, they have an opportunity to choose on the amount of work they can manage to finish within a specific time comfortably without much stressing. Lastly, accounting, most of the time require the employees to travel from one place to another in pursuit for customers or to work on organizations database. Thus, this increased movement from one place to another, sometimes maybe distressing to others while it is not for those who love travelling. This can be achieved again by having proper time management and creating time with family, mostly during weekends and off duty hours. Is will enable one to comfortably attend to the travel needs of the job at the same time get an opportunity to further network a factor that is fundamental in continued growth within the profession. Conclusion The certainty on what is expected of someone and the perception of a particular person towards a particular course; have to be explicit before one takes on a course as major. In my case, accounting is the best choice for me for the fact that my attributes conform to the requirements needed for one to take on this course. On top of that, accounting provides one with a myriad of opportunities that allow them to diversify into various fields. This is more important for one who is looking forwards to being either self-employed as an accountant or businessperson. Works Cited Albrecht, W S, and Robert J. Sack. Accounting Education: Charting the Course Through a Perilous Future. Sarasota: American Accounting Association, 2000. Print. Bragg, Steven M. Accounting Best Practices. Hoboken: John Wiley & Sons, 2013. Print. Hall, Matthew. “Accounting Information and Managerial Work.” Accounting, Organizations and Society 2010: 301–315. Web. Moss, David A. A Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to Know. N.p., 2014. Print. Hall, Matthew. “Accounting Information and Managerial Work.” Accounting, Organizations and Society 2010: 301–315. Web. Scott, W R. Financial Accounting Theory. N.p., 2006. Web.  Read More