Should I major in Accounting?

by van217. Posted on Sep 09, 2020    2    17


I've searched around google and haven't found much information when it comes to majoring in accounting to start a business.

I realize that it doesn't matter much what you major in, but I enjoy my accounting class in high school, and was wondering if that would be a good choice?

I don’t care too much about the technical parts of accounting but I am really interested in things like reducing taxes, tracking cash flow, learning about cash flow, budgeting, looking at assets and liabilities, determining if a business is profitable, Making a business more efficient.


Comments

AdministrativeBlock0

The accounting industry is going to be wiped out by AI in a decade or two. Maybe.

Saskjimbo 3

This is what ignorance looks like folks.

A degree in Accounting has nothing to do with what most people understand accounting to be. Youre thinking of simple bookkeepers who are reconciling shit. Someone who majors in accounting is likely to go on to do something more significant than reconciling accounts and doing journal entries. That shit can be taught in a day.

Accountants audit complex business, run companies, build IT systems and processes. Stuff that AI might be able to helo with, but not to the point where anyone is getting laid off.

AdministrativeBlock0 1

Bookkeepers have already been replaced by software. Companies are already using AI in auditing (https://www.journalofaccountancy.com/issues/2019/jun/artificial-intelligence-in-audit.html). I'm talking about using AI for the hard stuff like financial modelling and actuarial tables. It will happen.

Saskjimbo 1

Try reading the article. The AI improves the sample that they have to manually look at. It doesn't reduce work. In fact, if its feeding them higher risk transactions to review, there would be MORE work involved to determine if there was a problem.

AdministrativeBlock0 1

The point is that companies are already applying AI to aspects of accountancy like auditing. That's where we're at now after 4 or 5 years of AI development. In 20 years time it's not unreasonable to think that auditing will have become a service that just runs automatically as part of your accounting software without needing a qualified accountant to do any additional work. The same goes for every aspect of accounting.

SensibleCreeper

Yes, then take law, then get a doctorate. After all that, become a bum. Seriously what kind of shit post is this? Do what you want and that will be the only drive to get you there. If you just do something because you think you should, you will lead a miserable life.

Change_Zestyclose 1

I don't think its unreasonable to ask for this kind of advice when you are in high school......

Yes I recommend something like accounting or a STEM degree with accounting or business minor if you are interested in working in tech. Accounting is a great start. Try building things on the side in college as you can.

YellowImpossible

I’d say Accounting.

Accounting is much more important if you want to own a business.

It will help you with taxes, managing cashflow, looking at balance sheets.

CaptK4

There are a LOT worse things you could major in.

Accounting is the language of business. Learning to speak it fluently will serve you well, especially if you hope to one day work in (or even start!) a real life business.

neclord84 1

I Majored in Accounting now own a successful non accounting business. I save some money because I can do and train in the accounting to be done the way I want to. The budgeting skills really come in handy

kevbot_robot 1

No. Based on your interests you should major in Finance.

Saskjimbo 1

Job prospects aren't as good

kippypapa 1

Sure, but make sure you minor in something else too. Something that's totally different from accounting. For example, minor in computer science/IT so you can understand how software works if you want to start a software business. Or a minor in biology - maybe that gives you enough understanding of biotech to understand where the needs are in that market.

Novicept2 1

Accounting won't make you good at business like you think it will. The best entrepreneurs are almost always sales people or people with sales skills.

Don't waste your time in accounting if you do not want to have a career in accounting.

If you want to be good in business, find a sales job. Many sales jobs out there that pay more than accounting anyways.

DuchessCDM 1

Basic knowledge in accounting is important for any business. As an accountant, you won’t need to hire an accountant for your business— unless you don’t want to do it like me. I have my accounting degree, MBA. Worked in trust and taxation for nearly 10 years. Worked in private practices and even worked as an accountant for Disneyland for a year. It wasn’t my passion. I gave it all up to teach. Actually, I started my own tutoring business. Because I love teaching but I love the business side and making $$$.

What you’re talking about... you should major in finance. Maybe a double major. Finance jobs aren’t really out there. Until they are, you can be an accountant to make sure you’re making money. There will always be taxes. You’ll never be out of the job. Will you be happy? Maybe.
I’ve known many accountants who wouldn’t say accounting is their passion, but they do make enough to pay for the hobbies that do.
Accounting is a great fall-back. Not necessarily exciting...

cofferlattice 2

I think becoming an accountant is a good hedge also if things don’t work out. Definitely a smart idea to become a chartered accountant.

DeeLumumba 3

From a finance major. Accounting is the basis of business. It definitely will not hurt if you are going into business. However, I like accountants that have a entrepreneurial spirit. That they can think out of the box and know what it is like to miss a meal. I market different types of traditional and less traditional capital and am amazed that even know the ignorance that accountants have in something as simple as factoring.