Why Study Accounting?
ACCOUNTING is the measurement, disclosure or provision of assurance about financial information that helps manager, investors, tax authorities, and other decision makers make resource allocation decisions.
What does that mean? If you are like most, the study of accounting seems both daunting and tedious. For those of us who have made this profession our career, we see excitement and fascination in how accounting is able to illuminate the activities of a company. Is it for you? What will you do with that accounting degree? Will you be able to find a job with your accounting degree?
Because of its unique position within the business world, the accounting profession has always been an excellent career opportunity for strong students. Accounting is consistently ranked very high as a growth field by every survey conducted. In addition, your potential salary will be one of the top salaries you can get with an undergraduate degree.
At its core, accounting is a means of telling a company's story. What does the company do? How well do they do it? How financially healthy is the company? What were the successes and failures along the way? What does the future hold?
At Tennessee Tech, our accounting curriculum is designed to provide the education necessary for a student to tell that story and to begin a successful career in professional accounting.
A career that begins with the study of accounting allows students to see business from many diverse perspectives. As an accountant, you will learn about all aspects of running a business and you will gain a keen insight into how problems and intelligent solutions to problems can shape a company's bottom line.
There are three basic directions to go with an accounting degree. Each of these directions has various opportunities associated with it.
- Many students start their career either as a financial statement auditor with an Accounting Firm or in the internal audit department of a corporation.
- With audit experience, there are multiple job opportunities in governmental auditing, such as with county, state, or federal government.
- Many accounting students go into banking as bank examiners with the state or Fed.
- Others choose to apply their audit skills with the civilian branches of the military or in law enforcement with the SEC, FBI, IRS or other state and local law enforcement bodies.
- With experience, you will have the opportunity to start your own practice. So, those of you with an entrepreneurial spirit will have the opportunity to “be your own boss.”
- Many accounting students begin their careers by working in the tax preparation areas of accounting firms preparing tax returns for clients, or working for the State Revenue office or for the IRS.
- With sufficient tax preparation experience, many accountants move into the area of tax planning, which can be both interesting and complex.
- A background in tax preparation can also lead to a career in financial planning.
- Accountants who wish to skip the public accounting experience will go to work directly for companies as financial accountants preparing financial statements or as cost accountants tracking and reporting internal costs.
- Areas such as budgeting and financial management also prove to be lucrative paths for some.
- Heath care accounting is a growth area in the accounting profession. You might work for a hospital or medical practice. Or you might work for a company that operates a nationwide network of facilities and you are assigned to do the accounting for a group of those facilities.