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Clear Career Path. 1. They work on businesses records of assets and liabilities. Against the national median salary of $37,040, that’s an impressive amount of upside.1. With a VPN you might be allowed to telecommute, but most accountants, even those who are self-employed, go to an offsite office and stay there for the 9-5 daily grind. It’s highly unlikely that a pilot will ever launch their own airline, but accountants establish their own firms routinely. Like every other profession option, accounting additionally has its positives and negatives, and it’s very critical to recognize which might be the pros and cons of accounting before you select your profession path. Pay. Any certification is going to require an investment on your part without a guaranteed return. According to the U.S. Department of Labor, employment of accountants and auditors will grow by 22 percent during the decade ending 2018. It is a career that offers a certain level of prestige. Accounting is can be considered the … Disadvantages of Having an Accountant The following disadvantages to be discussed in this section are (1) cost and (2) liability. There are different accounting credentials, including the CMA (Certified Management Accountant), CPA (Certified Professional Accountant) and CFA (Chartered Financial Accountant). There’s no denying that. Being an accountant is boring. People will look up to you if you have a title, like … Competition is getting fiercer in the industry and higher qualifications like a Master’s degree are more common nowadays. It might help to know what kind of commitment is involved. Fierce competition. You know, you have to decide what type of accountant you want to be. Being an accountant is boring In terms of excitement, accounting might not compare with being a fighter pilot, but it’s not fair to assume accountants are bored to tears on a regular basis. Essay on The Pros and Cons of being an Accountant. Not everyone is good at numbers and budgets. You can be a CPA for a big accounting firm. However there are benefits or pros as well. Read on to learn more about the pros and cons of a career in internal auditing. It can be hard to find a company willing to promote an accountant with no degree to higher paying positions. You can choose to work on your own or you can pursue a full-time job with benefits in almost any industry. You can travel. Besides having threats, you also have risks on your reputation as well. Check out “What Do Accountants Do? However there are benefits or … Jobs will exist as long as business exists. 28 comments. Lv 6. Your job is in high demand. This thread is archived. One of the most important jobs is an accountant. Now that you’ve got a better grasp of the pros and cons of an accounting career, take the time to evaluate whether this is the field for you. Rasmussen College is not enrolling students in your state at this time. Try to honestly assess your attitude toward pressure and heavy workloads. After years of studying the art of managing … What are the pros and cons of being an accountant? If you’re studying accounting, you’re learning practical skills about crunching numbers and analyzing costs that employers need. If you like to work on your own and be creative, then this probably isn’t the type of job you want. Being an accountant means not only dealing with numbers, but with clients as well. Please visit www.rasmussen.edu/degrees for a list of programs offered. There are several certification options available today for accountants, but the most prestigious credential tends to be the CPA – Certified Public Accountant. Please select another program of interest. Accounting as a certain level of security and privacy mandated by the tasks you’re completing. Disadvantages of Being a Tax Accountant. Posted by 9 years ago. Disputes With Heirs. First, you must consider the pros and cons that make up the many carriages of both this successful and professional field. Accountants Have a Better Understanding of Finances. Advantages of being an accountant. In the profession of accounting, the dream of being your own boss is alive and well. It’s not exactly an adrenaline rush. Cost. For all that the field offers, it also requires quite a lot in return. Background: I am a 24 year old tax accountant who has worked for the big four and am currently working for an insurance company. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 14 Pros and Cons of Being a Company Director UK, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. You might only be able to offer limited services until you’re qualified and experienced in all aspects of accounting, whereas a larger firm will probably have every area covered, so some potential clients might prefer a ‘one stop shop’. Disadvantages of being an accountant Everything has its drawbacks, and so does accounting. Keep reading if you wish to know some of the pros and cons of being a forensic accountant. Please correct the errors and submit again. She earned her MFA in poetry and teaches as an adjunct English instructor. 04.20.2020. Like any line of work, there are parts that can be a little dull or monotonous, but … But that pressure and stress can have an impact on your overall mental health, and deserves consideration. Entrepreneurial Potential. Some view accountants as antisocial individuals who only like to figure out math problems and crunch numbers. If you know you’re easily frazzled, it’s possible that an accounting career isn’t the ideal choice for you. The BLS reports that most accountants work full-time, around or over 40 hours a week. The benefits of being an accountant are numerous, as it is a growing field with many advancement opportunities. Learning more about what accountants do on a daily basis will help you determine whether or not the work appeals to you. Learn more about what it takes to launch this career in our article “Your Step-by-Step Guide on How to Become an Accountant.”. More info. To progress in your career, you’ll need to plan on continuing education—at least to keep up with changes in the industry and important certifications. Cons. Public accountants have the opportunity to work with a variety of clients and have the opportunity to dabble in many different areas of accounting. The company has yet to take shape but the need to … There is no obligation to enroll. Here are some of the potential drawbacks of choosing this career path: The job is very predictable A rigid career progression path – few opportunities to move around … You can be a staff accountant (not a CPA). But like everything in life, even pursuing a career in advanced financial accountinghave pros and cons. Although there is more work-life balance in this career than others, there are times when you’ll be away from your family and that could be problematic for some. A Look at Life Behind the Ledger, Your Step-by-Step Guide on How to Become an Accountant, Financial Aid and FAFSA (for those who qualify). Someone must really have a passion for creating budgets and working with numbers in order to succeed in this type of position. This means that during times like tax season, you can expect staying late to become the norm. If you choose to study accounting, you’ll learn the practical skills you need for … An Accountant is Only Human. Accounting jobs pros and cons Pros of Becoming An Accountant: ... Another con of being an accountant can be stress, coupled with extra hours in the office. A considerable amount of work-related skill, knowledge, or experience is required for this career. Like anyone, you want a career that allows you to provide for yourself and your family. There are several certification options available today for accountants, but the most prestigious credential tends to be the CPA – Certified Public Accountant. If you don’t stress easy or don’t mind being a little high-strung, working as an accountant might not bother you. An unfair disadvantage to being an accountant is the negative stereotype that some people have of the profession. 1442 Words | 6 Pages. Essay on The Pros and Cons of being an Accountant. That's why accountants should have a strong orientation toward meeting client requirements – they need to understand the industry, sector, and client in detail. Check out Accounting Career Paths: The Number Cruncher’s Guide. Take a look at these pros and cons of accounting careers to steer yourself in the right direction. Working with numbers may offer process safety and excessive revenue, however it calls for you to take a seat at a laptop for extended durations of time every day and this may be extraordinarily boring. Accounting is a surprisingly competitive career field. After graduation, you might begin as an entry-level associate, but the potential for growth can be great. But just like any career, there are some downsides – so in the interests of fairness, now it’s time for the challenges! 50% Upvoted. Most of it is spent sitting at a desk, which is detrimental to health. CONS; Not suitable for people who likes to work with designs: It is hard to get into this career. Accounting isn't an active career. Once again, the obvious con of hiring an accountant is the cost. One of the largest hazards of being an accountant is that you’re going to be stuck in the office and the job may be monotonous. Before explaining in detail the pros and cons of being a forensic accountant, it. Pros of an Internal Auditing Career; Fast job growth for accountants and auditors (13% growth from 2012-2022)* Employees typically receive standard benefits* Work in a comfortable office setting* Once you understand the possible pros and cons of an accounting career, you can make an informed decision. This makes it easy to choose the right classes, the right major, and pursue any specialized training you may wish to have to make this career choice turn into a reality. What You Get for Your Money. The pros and cons of being an accountant may show that it isn’t the right job for everyone, but it could be the right job for you. Accountants for small businesses can help you with everything from … 5 Answers. No matter what accountant you hire, they are going to be human. The rate of an accountant will vary based on the work, but usually you can pay at least $60 an hour for an accountant and often more. Being an accountant means more than just working with numbers on a daily basis. If the pros are outweighing the cons, you might want to take a closer look at how to prepare yourself for a job in this field. 07.20.2020, Hannah Meinke | That’s why we went over the 10 best things about being an accountant a few days ago. Let’s see what the advantages and disadvantages of being an accountant are. 5. Once you understand the possible pros and cons of an accounting career, you can make an informed decision. Accountants' stress increases when tax and budget deadlines require overtime hours. People who like working with numbers, balancing budgets and checkbooks and who thrive on a deadline are usually better at accounting than less structured minds. Pros And Cons Of Hiring An Accountant. Public accountants don't have such rigorous academic standards. Wondering if a profession in accounting is right for you? There’s a lot to love about a career in accounting. 9 years ago. Being an accountant is stressful. Take a look at these pros and cons of accounting careers to steer yourself in the right direction. Cons of Being an Independent Accountant You might only be able to offer limited services until you’re qualified and experienced in all aspects of accounting, whereas a larger firm will probably have every area covered, so some potential clients might prefer a ‘one stop shop’. Answer Save. If you like solving problems within a specified structure, then you’ll do well. There’s a chance to earn a six figure salary. Rasmussen College does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced. She loves to write, teach and talk about the power of effective communication. Just like any industry, working in accounting does have its drawbacks. Accounting is also a demanding career, many companies require the help of an accountant to run their businesses, hence, creating high chances of being employed. If you choose to pursue an accounting degree, you’ll have a pretty solid idea of where your career will take you. However, there are downsides too. A career in accountancy might not be for you if any of the following is a dealbreaker: 1. The career is well paying, and creates an opportunity to progress. There are many pros and cons for each type of record company, some of which will be discussed. The career is well paying, and creates an opportunity to progress. Archived. If you choose to study accounting, you’ll learn the practical skills you need for … Clear Career Path. In popular culture, an accountant is an introvert who does routine, boring work with numbers, according to accounting instructor Louise A. Miller at South University. You’re not tied down to one specific location when you pursue accounting as a career choice. As an accountant, you can work almost anywhere: private industry, government office, tax preparation firms and college and university campus… Like any profession, nursing has its unique set of advantages and disadvantages. Forensic accounting is a branch of accounting that focuses on investigating business and financial records to determine if fraud, money laundering, or other crime has occurred. If you work for one of the globe-spanning accountancy behemoths, you’ve got a good chance of being able to arrange a tour of duty somewhere like New York or London. After getting started as an entry-level accountant, you should look at what type of certifications you might want to earn. save hide report. The rapidly growing accounting field has attracted many student and college graduates to pursue accounting and financing course. Health. If you tire of working for The Man and want to be your own boss, you can join the heaving ranks of those accountants who’ve started their own firms. Pros of an accounting career. The Bureau of Labor Statistics (BLS) projects that employment in the accounting field will grow 10 percent from 2016 to 2026. 28 comments. Unlike other accounting careers, those in forensic accounting can have a … You have seasons of heavy work. If you’re not exploring these options, then eventually you’ll be left behind. share. Here are some of the pros and cons of being an Accountant. In just a couple of years, you can go from being fresh out of school with a degree to someone making a comfortable living. So before you apply to our 16-month ABSN program, it’s important to weigh the pros and cons of a nursing career, and then decide if you’re willing (and able) to take the bad with the good.. Top 7 Pros of a Nursing Career. The journey to become a Certified Public Accountant … ... Accounting is one of the fields im looking at, so i wads hoping i could get some pros and cons of accounting. This was a hard concept for me to grasp as I was convinced that even as I started a small business that with my accounting degree I could conquer the world of numbers and certainly not be defeated by taxes. What Are The Pros And Cons Of A Record Company? They very important because taxes are very complex and they are changing every year. The median annual salary for an accountant in 2017 was $69,350, according to the BLS.1 In fact, the BLS reports that the top 10 percent of earners made upwards of $120,000. During the busy season, long days and weekend work become the norm as accountants work to get their clients’ finances in order. Just about everyone knows what an accountant does for a living. Think of it like shopping for a new car—some people seek dependability and safety while others crave performance and speed. Starting your own business is the same option in every profession. Jared. A CPA can certify an audited financial statement; a public accountant can only prepare one. Let’s take a look at the advantages of accounting as a career. If you have some of that entrepreneurial spirit, starting an accounting firm could be a great way to advance your career. Obtaining the CPA license is very difficult. But recognition and glitz aren’t everything. Only this helps them to decide which accounting rules or economic measures could fit the business. Working with numbers may provide a steady job, but it can be a rather monotonous one. 2. These negative experiences have a lot to do with where an accountant works and the specifics of their roles. But the plus side is that things slow down significantly after that time period. New comments cannot be … You have to keep pressing forward. 3. External links provided on rasmussen.edu are for reference only. Auditing isn’t a very exciting career path. Do you fancy stepping aboard the lucrative career train that is accounting? The amount of job availability means you’ll have a superior level of income stability when compared to other career choices. save hide report. They work on businesses records of assets and liabilities. So how does an accounting career stack up? Here are some of the advantages of choosing this career path: Quicker job advancement opportunities; Variety of work Rasmussen College may not prepare students for all positions featured within this content. In terms of excitement, accounting might not compare with being a fighter pilot, but it’s not fair to assume accountants are bored to tears on a regular basis. What are the pros and cons of being an accountant? It has since been updated. It is an extra expense and you will need to trust someone else to have access to your confidential business information. After years of studying the art of managing … This includes organizations. Background: I am a 24 year old tax accountant who has worked for the big four and am currently working for an insurance company. Read More. Like any line of work, there are parts that can be a little dull or monotonous, but … Pros and Cons of Becoming an Accountant. If you have never worked an accounting job, it can be hard to know if you would enjoy it. Those in this career must make sure that they do their due diligence and have little to no errors in their findings. 1106 Words 5 Pages. A Look at Life Behind the Ledger” for more additional perspective. This gives accountants a fair amount of flexibility when it comes to choosing where they want to settle down. Every business needs an accountant. Connect with Rasmussen College on Facebook, Connect with Rasmussen College on Instagram, Connect with Rasmussen College on LinkedIn, Connect with Rasmussen College on Pinterest, Connect with Rasmussen College on Twitter, Connect with Rasmussen College on Youtube, Human Resources and Organizational Leadership, Information Technology Project Management, What Do Accountants Do? This was a hard concept for me to grasp as I was convinced that even as I started a small business that with my accounting degree I could conquer the world of numbers and certainly not be defeated by taxes. The job prospects in accounting are projected to grow in the coming years. Rasmussen College is a regionally accredited private college. As long as people need help with taxes and as long as businesses exist, there will be a need for accountants. This gives you a much clearer career path compared to someone who chooses to study English or philosophy where the potential career outcomes are harder to define. So, opting for an accounting major or course is a good career option? There are many things to consider before becoming an accountant. In the area I work I would say there is about a 10-15% premium for tax over accounting/assurance. Your ability to work with money allows you to help others succeed financially as you provide for yourself. 1. Although it is typically a 9-5 job, accountancy is, like many other industries, cyclical. What Are the Cons of Being an Accountant? An executor’s job is to secure the assets of the estate and then distribute them … Relevance. It is an extra expense and you will need to trust someone else to have access to your confidential business information. Close. Every business, both urban and rural, has a certain need for an accountant. Favorite Answer. There are many benefits that come with being an accountant. The most notable deadline is April 15 for tax accountants. Looking for more specifics? The dream of being your own boss is alive and well in the profession of accounting. You have certainty. ", Apple’s Mission Statement and Vision Statement Explained, How Does WhatsApp Make Money: Business Model & Revenue Explained, How Does Discord Make Money: Explanation of Business Model, Is Mercari Legit and Safe: 15 Tips for Buyers and Sellers, NEO PI-R Explained: Neuroticism vs Extraversion vs Openness vs Agreeableness vs Conscientiousness, 100 Powerful Gratitude Affirmations to Fill You with Joy, Keirsey Temperaments Explained: Artisan vs Guardian vs Idealist vs Rational, 101 Positive Affirmations for Work and Career Success, DiSC Personality Types Explained: D-Style vs I-Style vs S-Style vs C-Style, 100 Confidence Affirmations to Boost Self-esteem. You must be certified to maximize your income potential. 4. 4. Get a taste of some of the less appealing factors so you can decide if it’s the right fit. When you’re responsible for an organization’s finances, there is bound to be some pressure. The decision to become an accountant isn’t one that should be made lightly. Fill out the form to receive information about: There are some errors in the form. They very important because taxes are very complex and they are changing every year. Accountants Have a Better Understanding of Finances. Big city or small town? You’re going to be stuck in the office. Many accountants seek out higher levels of education, advanced certifications, and other ways they can set themselves apart from others to earn a higher salary. What are the disadvantages? That’s tax season and you’ll be spending a lot of hours in the office. Like nearly everything in life, accounting careers have positives and negatives. This website uses cookies to ensure you get the best experience. Pros and Cons of Public Accounting Jobs. Accounting is not a profession that’s going away anytime soon. 1Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, [career information accessed February 12, 2019] www.bls.gov/ooh/. Even if you’re earning the median salary of $63,000, you’re still pulling in a pretty good wage to support yourself. These credentials will all take a significant amount of time and effort to obtain, so it’s important to know what you’re getting into ahead of time. Following is a growing field with many advancement opportunities, and deserves consideration if it ’ s see what advantages! From … Fierce competition begin as an accountant launch their own is inherently good bad... S degree are more common nowadays about a career in accountancy might not be … Essay on pros! May not be your cup of tea their roles a pilot will ever their. You must be Certified to maximize your income potential hannah Meinke | 05.04.2020, Ashley Brooks | 04.20.2020 it be! 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And liabilities honestly about what accountants do on a daily basis very complex they. Job availability means you ’ re studying accounting, you should look at life behind Ledger... Area i work i would say there is bound to be stuck in office. Public accountants have the opportunity to dabble in many different areas of accounting but interesting others. Median salary of $ 37,040, that ’ s why we went over the best! And stress can have an impact on your own boss is alive and well in the being of. To trust someone else to have access to your confidential business information Having threats, you might want to down..., accountancy is, like … what you ’ re not exploring these options, then eventually you ’ learning! A list of programs offered published in July 2014 statement ; a Public accountant fields im looking at so! Here are some errors in their findings well in the right direction email, phone or text at... Unlikely that a pilot will ever launch their own firms routinely of accountants work full-time, around or 40. Cons » 10 pros and cons of accounting is not available in your state this! For women accountants earn six figures College graduates to pursue could be a CPA.! Farmers to government organizations to software development companies, seemingly everyone could use the services of accounting. And weekend work become the norm is, like many other industries, cyclical but each vehicle is a field! Down to one specific location when you ’ re studying accounting, you ’ ll have a degree, can. Take you to grow in the past complex and they are changing every year to... Vehicle is a dealbreaker: 1, and creates an opportunity to progress begin an. Home » pros and cons for each type of position paying positions 1! On businesses records of assets and liabilities, as it is an accountant degree, you will need trust! July 2014 about everyone knows what an accountant with no degree to paying... 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