What Is Accounting?

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Are you ready to find your fit?

Picture this: you work for your favorite athlete or entertainer, advising them on money matters. You’re so important to their career that you are the first one they call whenever they need to make an important financial decision.

Or envision yourself depositing the six-figure sign-on bonus check for the great job you just landed. You’ll be working at one of the big accounting firms, at the heart of the business world.

Or imagine that you’re an FBI agent investigating financial crimes. You use your accounting and tech skills to follow the money – wherever it leads.

All of these careers are possibilities in the field of Accounting. To put it simply, accountants are responsible for recording and reporting financial information. And because financial records are crucial to every kind of business, accountants fill a vital role for pretty much every industry.

Accountants can work in government, consulting firms, or even in their own independent practice. From small businesses to large corporations, accountants help to make sound financial decisions and ensure compliance with financial regulations.

Learn more about the field at our Accounting homepage.

Why Choose Accounting?

There’s an old saying that Accounting is the language of business. So, if you want to have flexibility in your business career, Accounting will teach you the language you need to excel in many different areas.

Accounting is a solid career choice, because it’s always in demand – even in times when the economy is rough for other workers. According to the United States Bureau of Labor Statistics (BLS), accountants and auditors will see their employment increase 10 percent by 2026. That’s faster than the average rate of growth for all professions.

In addition to job security, Accounting can also pay very well. The BLS reports that accountants in all industries earned a median salary of $68,150 in 2016, while accountants who worked in finance and insurance earned even more. They took home a median salary of $72,950 per year.

You’ll also have a surprising amount of flexibility in where and how you work. While you could end up in a position at a large corporation, consulting firm, or even the government, you could also be your own boss. Many accountants work from home, according to the BLS, which means that Accounting is a great option for people who want to be free to set their own hours.

The Future of Accounting

While Accounting is known as a stable industry, technological developments have been shaking things up in the last few decades. Artificial intelligence and big data, for example, are leading to increased automation of accounting tasks.

Ever heard of robo-accounting? It’s the replacement of human accountants with software that performs the same functions. As you might imagine, the prospect has been causing a hubbub in the Accounting industry.

So, the challenge for upcoming Accounting graduates may be to make sure that they are more effective than a robo-accountant. By developing strong communication skills and expertise in new technologies, the accountants of the future will be able to set themselves apart from the crowd…whether their competition is human or digital.

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