Accounting The accounting major merges practice and theory to train learners for reporting and analysis of the economic interests of corporations or organizations and passing of the attained information to individuals who make decisions. Students who decide to pursue accounting develop techniques in international accounting, managerial accounting, taxation, budgeting, internal and external auditing, accounting systems, financial reporting, financial analysis, and internal controls. The accounting major grooms learners for a wide area of accounting careers in government, profit, and non-profit organizations. The accounting major eases the decision on making a career choice. It helps in determining the career way to pursue (Perks 16).
This paper looks at my decision of becoming an accounting major and the accounting profession I would want to become in the future. In recent years, it has become necessary to follow a career path that can provide compensation in case of layoffs or global crises. In addition, several economic sectors, both private and public, have faced economic issues. In choosing a career, it is essential to pursue a career that will not be severely affected in case of an economic difficulty.
Accounting provides the most positive answer to any career choice question. People engaged in the accounting profession receive additional payments compared to individuals in alternative professions (Perks 19). Moreover, different substitute employments where enhancement is delayed, the accounting profession has consistently increased its salary within a year in which it stops in business. First, accounting has a lofty competitive salary. The current salary for an account lies between $40,000 and $50,000 annually. Accounts can also earn additional amounts of money depending on their experience in the accounting profession. Individuals who start their career in accounting earn a reasonable pay compared to individuals in commencement of other careers.
Second, accounting has always been highly demand. Even though, earlier accountant had not been paid exceptionally well, they have been growing in demand. The accounting profession is increasing becoming a sensitive thriving career margin because every commercial activity that exists, tiny or large, requires the services of an accountant (Perks 23). An impressive accountant will never be unemployed because the accounting profession exists in every business. Third, the accounting major provides an opportunity to advance career.
Accounting is a recognized career that has an enormous demand. This means impressive work will be fast remunerated with fortification as immense as increase in payment. There also have been substantial opportunities for advancement that can direct an accountant toward gaining a difference over individuals from other careers within the shortest period. Fourth, the accounting major, will lead to a career in accounting. The accounting profession entails excellent benefits. Apart from large salaries and opportunities for advancement, accounting is also accompanied with numerous, magnificent benefits.
These benefits are essential to both the accountant and his family or dependents. The benefits cater for retirement, savings, housing, medical care among other benefits (Perks 26). The benefits act as motivation for the hard work performed by the accountants. Fifth, the accounting major presents the student or learner to several work opportunities. This is because most businesses require the services of an accountant. The demands of accounting can place an accountant to any sector, from industry to the environmental sector. While an original focus on an accountant is on commercial operation finances, the accounting profession in most cases entails communication with extensive different professions in any area of work.
There has never been a boundary over where an accountant will work. This shows how the accounting profession is diverse and dynamic. In addition, it is easy for accounting major to change his career path if he is not satisfied (Perks 26). The accounting options are as dynamic as working as an auditor of a major international corporation to running a tiny accounting venture from a home. Sixth, Paying for services that involve bookkeeping, income returns, and payroll can be extremely expensive for a family or small business.
Being an accounting major will enable an individual to conduct all these activities for himself. There will be no need to entrust the hard-earned salary, investments, and livelihood to an individual who has not invested anything to lose. In addition, this enables a person to take probable deduction and precaution to take full advantage of the income, investment, or wealth. Also, when a person acts as an accountant, he removes the probability of his money being embezzled.
Finally, the accounting major assists an individual make knowledgeable business or investment choices (Perks 28). A person purchases, makes investments, and makes business decisions reduce the income tax results for a business or family and multiply profits. As an accounting major, a person will gain knowledge of what business and investment activities to follow so as to eliminate tax liability and still gain profits for the business. The different employment opportunities available for people who would want to pursue the accounting profession can be categorized into three core areas. They include government and not-for profit accounting, public accounting, and private accounting (Perks 33).
I will pursue governmental accounting, now that accounting is my major. This is because the utilization of accounting processes results in government differs enormously from the utilization in the private segment. I would also want to work for the federal, state, or local government because I will be employed by the Internal Revenue Service. In addition, an accountant working for the government audits private business or maintains government agencies financial records or audit people who are a focus to government taxation and regulation. Also, I would be interested in working as a governmental accountant because the significant decision makers, particularly, representatives and officials, require organized, accounted financial information to be presented for the goals in the decision making.
These objectives or goals do not bear any connection to net proceeds outcomes but instead they focus on efficiency and service delivery. Moreover, governmental accounting considers the taxpayer (Perks 35). This is a particularly momentous group, and they want pay the lowest amount of tax as they can for the indispensable services for which funds are being compelled by rules.
Also, this accounting calculates the financial resources flow instead economic resources flow. Work Cited Perks, R. W. Accounting and Society. New York: Chapman & Hall, 1993. Print.