Financial report


Accounting, also known as accountancy, is the production of information about a business or organization, and the transmission of said information from those who have it to those who require it. The AICPA defines accountancy as the art of classifying, summarizing, and recording. It is also called the “language of business”, because it is the means for reporting certain financial information about a business or organization to many different groups of people. Many universities and colleges offer accounting courses to help prepare students for jobs in business, accounting, or management.

Program Information

The University of Illinois has an excellent accounting program. The Bachelor of Science in Accountancy prepares students for entry into numerous accounting fields, including accounting information systems, corporate accounting, and governmental accounting. It also helps with entry into graduate programs like law. Only 33 hours of accountancy courses can be counted towards the 124 hours required for the Bachelor of Science in Accountancy degree. The University of Texas has one of the best accounting programs in the country. It has ranked number one in the US News & World Report rankings for the last seven years. It is renowned for its research and innovative teachers. The Bachelor of Business Administration – Accounting degree requires students to complete 21 hours of accounting, and is tailored for students who want a career in government or industry. It falls under the McCombs School of Business, which is universally regarded as one of the elite business schools in the world. It is the oldest business school in Texas, and offers classed in Dallas, Houston, and Mexico City. In 2012, it had 100% job placement at graduation. Required courses for the program include Intermediate Accounting, Auditing and Control, and Financial Statement Analysis.

accounting student

Pros & Cons

An accounting degree can help you build strong work skills. Accounting is one of the most basic skills required for running a successful business. The skills you learn during the program can be useful even if you do not end up becoming an accountant. Accounting courses are largely quantitative. Students who excel at math may find accounting easy and earn high marks. This can be a disadvantage however, for people who struggle with numbers and math. An accounting degree provides many different career opportunities. The U.S. Bureau of Labor Statistics expects the demand for accountants to grow much faster than average over the next decade. Becoming an accountant often does not require any form of graduate school, which helps save on tuition money. The course material can be dry however, and the work can be extremely repetitive.

Graduate School & Career

Most accounting careers only require an undergraduate degree in accounting. The most well known type of accountant is a Certified Public Accountant. They may work for a large accounting firm or independently as a sole proprietor. CPAs cover the entire spectrum of accounting needs, including auditing, data processing, and tax issues. A Tax Accountant is another possible career. They specialize in matters related to taxes, and work with one client or as part of a company. External Auditors are brought in to review a business’ final statements, and may deliver the results of these audits to investigative officials. A Forensic Accountant is another career option. They work as part of a bigger criminal investigation. They look through financial records to see if any evidence of criminal behavior (such as embezzlement or money laundering) has occurred, and may look for vital evidence linked to a murder.