WHY CHOOSE ACCOUNTING?
Accounting courses are demanding and rigorous because the program trains professionals. The payoff comes after graduation in prestige and higher salaries.
The beginning salary of accounting graduates depends on their qualifications. While a few recent graduates have started in the low 40s, the beginning salaries of most accounting graduates are in the mid to upper 20s (thousands annually). Grades, experience, demonstrated leadership and poise during the interview largely determine who is hired for any given position.
However there is a misconception that accounting is math. Actually accounting is about communications rather than math. Numbers are used to express the results of operations, but the emphasis is on the written word. Students who score higher on the language sections of the SAT, ACT, etc, usually do well in accounting.
While there are only four required financial statements, the notes to the financial statements may fill five times as many pages. Also accounting tests consist of word problems that must be well understood before attempting a solution.
The highest level of math required in accounting is high school algebra. A simple four-function calculator is all that is necessary for accounting courses. However computers are used extensively throughout the accounting program.
Accounting is one of the traditional professions. Many careers claim to be professions, but there are several characteristics of true professions.
- States test the competency of professionals before issuing a certificate, to protect the public.
- Professionals are independent in that they may operate their own businesses. Independence eliminates many conflicts of interest because the client does not employ professionals. Rather professionals contract with clients to provide services for a fee. Since professionals have many clients, they can afford to turn down improper offers from any ONE client.
- Professions enforce a code of ethics. Egregious violations of the code of ethics result in a loss of license, though there are lesser penalties also.
- Finally professions maintain a body of knowledge.
The accounting profession demands a commitment to lifelong learning. Standards and tax laws are constantly changing, so accountants must continuously study to stay abreast of the profession. CPAs must attend at least 40 clock hours of continuing education every year to maintain their CPA license.
Many accounting graduates go on to earn graduate degrees. Calculus for Nonscience Majors is highly recommended to prepare students for graduate school in the future. However, calculus is not actually required but rather is a suggested elective course. The only required math course is algebra.
Accountants who earn professional certification have a right to be proud because few careers rise to the level of a profession. Also people recognize that the CPA Exam is very difficult. Less than twenty percent of applicants pass the CPA Exam during their first sitting. However many of the other eighty percent pass the exam in a subsequent sitting.
CPAs are well respected in the community because they have completed a demanding college curriculum, studied and passed the CPA Exam, and then met the experience requirements. Surveys have consistently shown that CPAs are the most trusted advisers of business people.
Among the professions, accounting is attractive because it does not require a graduate degree, although most states now require 150 semester hours of college credit for certification as a CPA.
Faculty participate in, and encourage students to affiliate with, professional accounting organizations such as the
