Go Beyond the Numbers: The Benefits of An Accounting Degree

Accounting is often called the language of business. Expense reports, tax documents, and balance sheets all can help tell the story of where a business has been, where it’s at, and where it’s going.

In order for you to speak the language well, you need to be well-versed in numbers. But not just knowing how to add and subtract—but really understanding what the numbers tell you. Did your company spend too much last quarter? Why? Are you on track to hit our profit goals next year, or do you need to reexamine the budget?

Not just anyone can make these interpretations. To speak the language of business, you have to learn the language. And business owners value people who can understand and interpret it. That’s where accountants come in.

In this blog, we’ll talk about the benefits of an accounting degree, including why you should get one and what options are available to you. With an accounting degree, you’ll become the go-to person for understanding the language of your business.

Why Get An Accounting Degree?

The benefits of having an accounting degree are many—and we’re not just saying that because it’s one of our programs here at Walsh College. The data doesn’t lie. Here are just a few reasons why getting an accounting degree is beneficial.

Whatever your interests are, you can align them with your accounting career and love of numbers.

Earning Potential

Working in accounting is highly specialized—after all, it’s an entirely new language. That’s why organizations are willing to pay top dollar for the best talent. The starting salary for an accounting graduate is $40,000, while auditors and accountants make upwards of $70,000. If you decide to become a Certified Public Accountant (CPA) or are striving toward management positions, your salary could be upwards of $250,000 a year.

Growth Potential

The accounting field is perfect for individuals who want to grow in their professional careers. The more experience and certifications you get, the more you are able to excel higher up the corporate ladder. Accounting majors have the option to become CPAs, Certified Management Accountants (CMA), or Certified Financial Analysts (CFA), which can translate to a better job title in an organization.

Job Security

The accounting field is a stable job market, and there is currently a shortage of accounting graduates that can meet the demand for them. This means job security for accounting professionals who are good at what they do and want to grow in their careers.

Given the great benefits of becoming an accountant, earning an accounting degree could be a great investment for your future. Next, we’ll look at how to get started earning your accounting degree.

Earning Your Accounting Degree

Whether you are of traditional college age or you are going back to school, colleges across the country offer flexible accounting programs. At Walsh College, we offer our accounting degrees both in-person, online, and as a hybrid model of the two. In this section, we’ll break down the bachelor of science in accounting and the master’s in accounting and the opportunities available to you with these degrees.

Bachelor’s

Most employers look for a four-year bachelor’s degree when looking at accounting prospects. Earning this degree shows them that you have experience in understanding financial statements and solving problems and that you’re a quick learner. A bachelor’s is the gateway to entry-level accounting jobs like a bookkeeper, tax assistant, or controller.

Getting your bachelor’s degree in accounting is also the first step toward your CPA license, which opens up even more career opportunities in both large accounting firms and private businesses. In order to qualify for taking the CPA test, you have to have at least 150 credit hours from an accredited institution.

However, an accounting degree is valuable even if you don’t want to become a CPA. Businesses large and small need accounting professionals to help them keep track of their numbers. And accounting is not the type of work that can be taught on the job. When you’re hired in this field, you’re expected to know how to read financial statements, make analytical decisions, and solve problems quickly. As interpreters of the language of business, accountants take their work very seriously.

Concentrations

Depending on what college you attend for undergrad, your degree might include a concentration in a specific area. At Walsh College, we have two concentrations for our Bachelor of Accountancy:

• CPA Concentration: This is for students who want to eventually sit for their CPA exam and includes courses like government and not-for-profit accounting and tax and business taxation.
• CMA Concentration: This is for students who want to become CMAs, which gives them the opportunity to pursue management roles in finance. Courses include financial markets, investment management, and financial statement analysis.

Master’s

For those who are serious about going into management or moving up the corporate ladder at a faster pace, a two-year master’s degree is an important step on that journey. With a Master of Science in Accounting, you can improve on skills you’ve already learned. Many professionals also recommend getting a master’s before taking the CPA exam. Not only does it fulfill the 150 credit-hour requirements, it helps you prepare for the exam and develop communication skills you need to be a professional accountant.

For leadership roles like Chief Financial Officers, analysts, or managers, employers typically look for graduate degrees along with other certifications, like the CPA or CMA.

Concentrations

At Walsh College, we offer several concentrations for master’s students to improve the skills they value the most.

• Data Analytics: This concentration gives students a deep dive into analyzing numbers and information, which is key for management positions in accounting. Courses include big data analytics, business analytics, and prescriptive analysis.
• Finance: This concentration is great for students who want to work exclusively in the financial sector. Courses include financial management, financial statement analysis, and business valuation.
• Taxation: This concentration is for students who want to become accountants, auditors, or tax specialists. Courses include tax accounting, tax returns, and tax practice and procedure.

Choosing Your Program

When you’re trying to find the right accounting program for you, you should keep a few things in mind during your search. Not all accounting programs are created equal, and you want to find one that fits your academic and professional goals. Here are a few things to consider when researching programs.

• The school has the concentration you’re looking for. If you want to become a licensed CPA or CMA, look for programs that have the prep work built into the curriculum.
• Faculty are experts in their field and have real-world experience. At Walsh, 95% of our accounting faculty are licensed CPAs.
• Learning options are flexible. If you are working part- or full-time and need more flexibility, look for hybrid or fully online programs. Walsh offers 100% online courses for both bachelor’s and master’s programs.
• The school is connected to a network of opportunities. Check with the school’s career services to see where you could get an internship or what organization frequently hires graduates. Walsh has professional connections with the Big 5 accounting firms located in greater Detroit.

Calculate Your Accounting Goals with Ease

In this blog, we took the guesswork out of figuring out what accounting path is best for you. We covered the benefits of an accounting degree, the types that are available, and what you should look for when choosing one.

Now that you’re equipped with the information you need, schedule an appointment with one of Walsh’s admissions counselors today to see if our programs are a good fit for you. We’ll help you go beyond the numbers and become a leader in your field.

LEARN MORE | BAC APPLY NOW LEARN MORE | MAC