What is Accounting, and what makes it such a great profession? If you have ever spoken to a representative from the Marriott School, that person surely explained to you that Accounting is a fantastic major and career choice, but why? In this brief article, you will find the answers!
What is Accounting?
According to the BYU’s Marriott School website, Accounting is the “language of business.” It is described as such because every single business that exists and succeeds in today’s world uses and needs accounting. It goes on to say that “Accounting is the study of how businesses track their income and assets over time.” Now, that may sound complicated and overwhelming, but in reality it is quite simple. When it says that Accounting is how businesses track and organize their income and assets, it essentially means that Accounting is how a business organizes the money it makes (income) and how it organizes what it spends its money on (assets). While certain aspects of Accounting can become more complicated, the main purpose of Accounting is to organize and keep track of the company’s money. Now, since all businesses share the goal of making and keeping track of their money, accountants can be involved in a myriad of different business ventures.
What Makes Accounting a Great Major/Profession?
Accounting is a fantastic major and career choice for many reasons. First, it is an extremely necessary and sought after skill to have in today’s business world. Because Accounting is involved in every type of business, Accountants are always in high demand. For example, according to The Bureau of Labor Statistics, “Employment of accountants and auditors is projected to grow 11 percent from 2014 to 2024, faster than the average for all occupations. Globalization, a growing overall economy, and an increasingly complex tax and regulatory environment are expected to lead to strong demand for accountants and auditors.”
Not only are the prospects solid for accountants in general, they are even better for Accountants that graduate from BYU. The BYU School of Accountancy has a job placement rate of over 90%, meaning that everybody who graduates and wants a job, gets a job. Overall, Job security for Accountants that graduate from BYU is rock solid, and the need for honest, hardworking, and reliable Accountants is only going to increase.
– Kelly Cowan