In this brief article, you’ll discover all you need to know about the field of accounting, Bachelors, online accounting degree, courses, salary, what can you do with an accounting degree and whether this is something you may see yourself doing for the rest of your life or for something you want to stay far away.
Online Accounting Degree
Accounting is a language of business this practice allows entities and individuals to measure, process, and communicate financial information. There are three main areas:
- Financial accounting
- Managerial accounting and
- Tax accounting
Financial accounting: Financial accounting keeps track of a company’s financial transaction through standardized guidelines.
Managerial accounting: Managerial accounting is concerned with providing information to managers. That is to those who are inside an organization and you direct and control its operations.
Tax accounting: Tax accounting uses methods that focus on taxes rather than the appearance of public financial statements.
States require accountants to complete 150 semester hours before they are eligible to sit for their CPA licensing exam, around 30 credits more than a typical bachelor’s program.
Online Bachelors Degree in Accounting
According to the Federal Bureau of Labor Statistics(BLS), there are more than 1.3 million accountants and auditors employed in the U.S. Jobs in this industry. The demand for accountants is estimated 11 percent between 2014 and 2024 – a difference of 142,400 new jobs.
Having outstanding math skills and doing nothing more than filing taxes are the most common misconceptions that people have about accountants. But that’s not always the case. The professionals say that accounting is much broader than just tax work. Different clients have different reasons for coming in. Some want tax planning, some have tax issues that have to be resolved, some you know need to advise on starting a business or expanding a business.
The work that accounting degree holder do that there are several levels of reporting.
Maybe every morning you get tax updates. You have a tax service, all the new court cases, decisions, IRS regulations and legislation. That’s you know and play updates come every single morning. On all of that, you have to catch up on that besides routine analysis and things that you do on a daily basis.
Dislike fact – Never going know everything. It is constantly changing. Many groups individuals Financial Accounting Standards, Board Public Company Accounting Oversight Board, IRS, SEC there are so many just organizations deal accounting constantly changing rules constantly changing the standard.
Online Accounting Courses
|Full-time study||4 to 5 years|
The key things that you’ll expect to learn when you’re starting out your online accounting degree. The three main reports of a balance sheet, a profit and loss, and a cash flow statement. These are the three main reports in accounting. And will cover those thoroughly in terms of how they are structured, how they come about through a set of transactions for a given period generally a year.
The curriculum also to cover specific aspects of accounting, macroeconomics, and taxes. Students also take multiple courses in auditing, which provide an overview of ethics and professional standards in accounting as well as examining financial statements to be sure that they are accurate and comply with laws and regulations.
Mobile User: View table
|Education||Bachelor’s||Bachelor’s||Bachelor’s, Master||Bachelor’s, Master|
What can you do With an Accounting Degree?
Accountants are found in private and public companies, nonprofit organizations and government agencies. You may choose career as either
- An accountant
- Financial analysts or
- Management analysts.
An accountant handles the daily financial transactions of a company branch or an individual. They do other various things like computing taxes owed preparing tax returns and ensuring the taxes are paid properly and on-time. Accountants are very effective at assessing financial operations and coming with recommendations to improve management. By doing this they’re suggesting ways to reduce costs enhance revenues and improve profits.
Accountants tend to have at least a degree in accounting. However, more competitive companies may require accountants to be a certified public accountant.
Auditors are very similar to accountants. They have the same hour work week, salary, job outlook, and work conditions. They are even required to have similar education and work experience. Auditors roughly do the same thing as accountants but auditors differ because they are mainly checking the validity of recorded financial transactions. Usually, auditors are examining financial statements to be sure that they are accurate and comply with laws and regulations.
Financial analyst what they do is prompt companies or individuals on making investments. An analyst recommends individual investments and collections as portfolios. To create portfolios of the financial analyst will evaluate current and historical data. They also study economic growth and business trends and their goal for companies is determining how to maintain company growth.
Management Analysts are sought to come up with ways to improve company efficiency. it will analyze financial and other data including revenue expenditure and employment reports. after they do this management analyst will develop solutions or alternative practices and then they recommend new systems procedures or organizational changes.
Bachelor Degree in Accounting Salary
The various factors decide the potential of your salary.
|Major Field of Study||Median annual salary for entry-level employees (0-5 years)||Median annual salary for mid-career employees (10+ years)|
|Accounting and finance||$52,800||$86,400|
|Accounting and management||$48,700||$70,800|
|Accounting and business||$45,200||$70,500|
|Business administration and accounting||$44,900||$67,500|
This is all about – Field of accounting, Bachelors, online accounting degree, courses, salary, what can you do with an accounting degree.