Accounting is a growing field with lots of opportunities,
but the lifestyle is not for everyone.
Having a steady job is good, but there are trade-offs to making money.
When making a career choice, many young people with an
affinity for numbers make a decision to enter accounting. Business schools have bachelor programs for
accountants, and there are openings in businesses, government and auditing firms.
Questionable business practices and the resulting government
regulation have increased positions for accountants. A Certified Public Accountant with expertise
in Sarbanes-Oxley compliance is very valuable.
The long hours, hard work and pressure situations make the
accounting field inappropriate for everyone.
Even those with great mathematical skills may be ill-suited to the rigor
and monotony of the life of accountant.
Positives of an
Accounting Career
The primary reason many end up in accounting is that it is a
specific career. Courses taken in
college provide specific training. Many students can walk out of college and
apply the lessons immediately at a job.
In contrast, a major in mathematics or economics does not
train the student for a particular occupation.
There is more flexibility, but less security.
Accounting is an indoor job, not a lot of heavy lifting,
other than briefcases. Today, computers
play a large role, and accountants need to be able to use spreadsheets and word
processing software.
As a white collar occupation, the pay is good, with starting
salaries above $50,000 in some markets.
Mobility is fairly easy, within a country. Crossing borders is more difficult since
rules vary by country.
Accounting is not bookkeeping. There is considerable challenge in
identifying issues and solving mathematic problems. There is often interaction with others, which
may include clients, peers or subordinates.
There are many opportunities for advancement, to the highest
financial position in the organization; partner, chief financial officer or
treasurer, depending on the type of company.
Negatives of an
Accounting Career
Accounting is a rigorous profession. Most accountants, especially at the beginning
of their career, are expected to work long hours and weekends.
Staff at auditing firms, particularly, work many hours in
their first years, doing basic accounting reviews on the road, in firms that
tolerate their presence at best.
The expression used at these firms “three years, up or out”
embodies the experience. Staff either
get used to the hours, or move to other companies or professions.
The work can be tedious and become monotonous. In a business, there is a regular month end
closing process, and no vacations can be taken during this time, and weekends
are expected.
There is a stigma of the bean counter, evidenced by people
in other professions. The role itself is
a matter of monitoring and reporting on others, rather than creating
business. It is not a good fit for an
entrepreneurial person, or someone needing a lot of human interaction.
With the long hours and indoor work accomplished mostly by
sitting, it is not a healthy occupation.
Finding the Right
Career
A student should carefully assess their strengths and
desires before deciding on a career.
Accounting offers stability and financial rewards, but requires
mathematical ability and a strong work ethic.
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