why i chose accounting essay

why i chose accounting essay

The Importance of Accounting in Today’s Business World

1. The Role of Accounting in Business

Therefore, the need of both society and the government has primarily been to argue about the role of accounting in society and who should provide and bear the role. Taking a lesson from the corporate world, it’s crystal clear that accounting plays critical roles in providing information that the needy depend on in making better decisions. What has been observed is that there is a body of supervision in the corporate world, along with a set of best accounting practices provided within the corporate society and private sector in general, to ensure that those demands are continually met. Mandatory accounting bribery rules and other applicable legislation, which have been put in place to ensure recipients are not short-changed, emphasize the above.

Although the accounting profession had long been active in the private business sector, its responsive presence to non-profit entities and the public at large was minimal at best. As time marched on, government requirements disguised opportunities to demonstrate accountability and the desire of an evolving society dictated otherwise. Thus, accounting found new avenues through which to demonstrate and provide viable information leading to economic rational decision making for society and the general populace. After all, the core of accounting is about providing information for economic decision making, mostly referred to as reporting and interpreting economic transactions.

2. Advantages of Pursuing a Career in Accounting

Stable Occupation: Accountants can find work because almost all businesses need a professional with accounting skills. Think about it. People go into business to make money. Accountants help business owners figure out how to make money, how much money they are making, and how to manage their profits. Therefore, most businesses need to hire an accountant. Since businesses need accountants, accountants enjoy a stable career.

Demand: The accounting industry is growing. The number of accountants and auditors is expected to grow by over 4% during the years between 2019 and 2029. The profession is expanding. However, the number of positions is less than the number of people who want those positions. That makes obtaining an accounting job challenging. Still, the demand is there. If you earn a degree in accounting, you will be able to find a job. You may have to put up with a long job search.

Career: Accounting pays well. It also employs many people. The United States Bureau of Labor Statistics states there are over one million accountants in the United States. Accounting employs nearly 1,250,000 people. Accounting is a popular career choice. That makes it easier for you to find a job.

Experience: Some people work in the accounting field for their entire career. Others move around from one career to another. Take Jim, for example. After graduating from high school in the late 1960s, Jim immediately started working. Jim’s career has taken him to offices and work sites. He became an accountant after retirement. He enjoys his accounting career because it adds variety to his work history.

3. The Skills and Knowledge Required in Accounting

The graduate of accounting training bachelor degree; competent in the fields of accounting and finance practices to have the similarities as accounting can also be a part of the internship. This professional serving at this time; the ability to use to best effect practical, to individual responsibilities and to work jointly advancing work and consultancy considering the ethical and social responsibility are assumed. While those planning to pursue a career in accounting, making decisions on issues is to and solving problems it is necessary to have. The service life of the sector of equipment and professional diploma, environment and conditions skills vocational school programs, undergraduate programs and graduation requirements meicbeth knowledge and competencies they are in are both personally are this type. Accounting a piece of the parties’ reports skills required while maintaining their activities and information when using the financial statements.

All the tasks carried out by the accounting professionals today are essentially demanding. There are a few skills and knowledge that are necessary for majoring in accounting education programs. The graduate students of accounting fitness and capability in areas such as accounting systems, recent developments in accounting, recent developments in accounting systems, cost accounting, reporting and management control and in tax. Knowledge and the skills of the graduates are not limited to only these. Furthermore, in enterprise accounting and finance area accounting graduates may include various accounting in financial management, risk management, asset management and financial reporting services, to carry out the tasks defined in these areas are competent. Also information technologies; capable of monitoring the property and financial matters of planning and organizing, good communication, effective information presentation, the attention to the changes in the legal regulations, the skill, strong-minded, self-starter and is a good team player.

4. Opportunities and Growth in the Accounting Field

The future of accounting is extremely bright with the lowest projection of 18% for the growth of the industry by the end of this decade. In 2001, the areas of importance for accounting teachers had greatly modified; recruiting 1st, responding 3rd, promotion 4th, and corporations 2nd. And in 2011, we have recruiting, response, and promotion, thus, the bureaus had not yet become all that critical. The BLS expects that 2.5 million jobs would arise in the finance and accounting sphere in 2020. This analysis seemed reasonable and sensible given the wide range surrounding money services. It should be noted that business courses in accounting attracted almost 18 million students and accounting for 1.686 high-priority enrols, more than just any business major other than general business. The success and advancement in accounting are accounted for by numerous reasons, such as the transformation of business design and the innovative organization, the occurrence of company ventures, modernization, data technologies, and, clearly, tax reform.

The accounting field offers a tremendous variety of career opportunities. The growing number of businesses and opportunities for careers in accounting is due to several factors. The vast number of small businesses and the fact that parents and most high school students have become more aware of the subject, plus new business structures like LLCs and LLPs as described earlier, have also developed a fresh demand for trainers who specialize in these industries. Additionally, the accounting area has a guaranteed growth due to the computerization of business documents that broaden the scope and complexity of the job. Such adjustments also necessitate financial analysts, accounting advisors, and auditors to adapt business records, to create internal guidelines, and for properly professional exploring the archives.

5. Conclusion: Why Accounting is the Right Choice

Accounting plays a crucial role in economies of all governments around the world. Therefore, the profession of accounting is respected, and the vital role of accountants in revenues and expenses cannot be underestimated. Many people see accounting as just a mere study of accounting because most of them do not want to dirty their hands with bookkeeping, making ledger accounts, trading and profit and loss accounts, bills of exchange, and bank reconciliation statements, preparing balance sheets, etc. That’s why they think accounting is only for accountants or bookkeepers. However, accountants are not mere bookkeepers. Besides providing financial reports to management, shareholders, and other interested parties, accounting also assists management in making economic decisions.

In today’s fast-evolving business environment, accounting has a key role in providing information that is useful for management in decision making and control, both internally and externally. The focus of my paper is to explain the benefits of accounting and then truly explain how accounting is useful. In conclusion, the decision to become an accounting major is the right choice. The possibilities to have an influential career begin here, and it is the right time to get educated in a field that is growing and will be more diverse as time continues.