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Industry Certification & License Prep
Emergency Management
Information Technology
Teaching and Learning
Colorado State University Global
Industry Certification & License Prep
Emergency Management
Information Technology
Teaching and Learning
Blog
August 30, 2021
Recently, we wrote about what accountants actually do, then we explained how to become an accountant, and here we’re going to explore what makes accounting so important in the first place.
As part of this discussion, we’ll cover what accounting entails, how it’s used in modern businesses, and why you should consider becoming an accountant.
After you’ve learned everything you need to know about what makes accounting so important, fill out our information request form to receive additional details about CSU Global’s 100% online Bachelor’s Degree in Accounting, or if you’re ready to get started, submit your application today.
Accountants are critical members of virtually every organization in existence since it’s virtually impossible to make strategic business decisions without understanding the complex finances driving those decisions, as well as the potential ramifications of each option under consideration.
According to Investopedia, “Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions pertaining to a business,” which means that accounting involves overseeing and handling virtually all financial-related issues.
It’s the accounting team that is responsible for tracking how much revenue a business generates, how much money it spends, and how much profit is left over each month, quarter, year, etc.
And because most businesses exist to generate profit, and accountants are responsible for calculating and analyzing that information, this makes them indispensable to any organization that seeks to continue operating long-term.
Without accountants to accurately track, analyze, and report financial information to the leadership team, the organization is likely to make strategic mistakes, making it far more likely that it goes out of business.
Simply put, accountants work everywhere.
Because every organization needs to understand its financial position, accountants are employed in every single industry you can imagine! Here are a few examples: healthcare, technology, construction, manufacturing, retail, and education.
Most accountants work in offices, but they can also work from home since financial data doesn’t always need to be processed on-site, and this has become especially true as more modern organizations have chosen to outsource their accounting work to third-party firms or even individual accountants.
Accordingly, accountants can work directly for the organization whose books they manage, or they can be indirectly employed by a separate organization that pays them to oversee its finances.
Accountants may even work for several companies, organizations, and individuals all at the same time, being responsible for a wide variety of different groups all at once.
Finally, due to their ubiquitous need, you’ll find accountants working at every type of organization, including public and private corporations, nonprofit organizations, and state or federal government agencies.
Accountants are typically tasked with understanding, organizing, and reporting an organization’s finances.
This process may be simple for a small organization, and in some cases, there might be just a single accountant running all the numbers, but larger organizations may require an entire accounting team to get all the work done.
While any given member of an accounting team may be responsible for vastly different tasks, there are several common responsibilities that nearly all accountants will be required to perform, including:
Accordingly, most accountants spend the majority of their time reviewing financial information, analyzing, and preparing reports to deliver insights and details about that information.
Some accountants work entirely on their own, but modern accounting roles are less likely to be entirely math-oriented, and more likely to include at least some interface with other employees.
Contrary to common belief, accountants do work with other people, including people like senior leadership teams, data analysts, and members of the organization’s legal team.
That depends on what you’re interested in doing, but if you’re good with numbers, you like interpreting data, and you want to help an organization understand its finances, then accounting could be the perfect field for you.
There are three core reasons to consider launching a career in accounting, including:
Let’s look at each of these reasons in additional detail:
If you’re interested in launching a real, lifelong career, not just getting a dead-end job, then accounting is an excellent field to consider.
As an accountant, you can have a considerable impact on any organization you work for, helping determine their success by giving them the tools and information needed to make important, strategic business decisions.
No organization is able to function in the competitive industry that is the modern, globalized economy without the financial information provided by professional accountants, making this a critical position for every single company in existence.
The larger the organization, the more complex its finances become, and the larger the need it will have for trained, professional accountants.
Demand for professional accountants is projected to continue rising over the next decade, with the Bureau of Labor Statistics (BLS) predicting that the employment of accountants and auditors will grow 6% between 2021 to 2031.
BLS explains that this growth will be closely tied to the health of the overall economy since as the economy grows, more workers will be needed to prepare and examine financial records.
Knowing that the field is growing, you can be confident that the demand for accounting skills and abilities will remain strong, making it more likely that you can find a good role in the industry after you’ve completed your training and earned the proper educational credentials.
Rising demand also signals that it’s a good time to get into the industry, as growth should stimulate not just new entry-level positions, but also an increase in more important, more senior-level, and management-level roles as well.
Skilled accountants are capable of earning excellent salaries, with the BLS reporting excellent compensation for some of the most common accounting positions, including:
There are many other jobs available to professional accountants, so keep in mind that this is just a shortlist of several of the most common roles accountants are able to find.
If income potential is important to you, then you can rest assured that the field of accounting will offer plenty of opportunities for earning considerable pay.
While you can get an entry-level role in the accounting industry without first completing a degree program, it will almost certainly be easier to land a good job if you first attend and complete a related degree program.
Why? Because the best way to develop the knowledge, skills, and abilities you’ll need to become a professional accountant is to study accounting in a serious academic setting, like CSU Global’s online B.S in Accounting program, or our online M.S. in Accounting program.
Our 100% online accounting programs provide all the training, knowledge, and experience you’ll need to launch a successful, lifelong career as a professional accountant.
Furthermore, choosing to study with us ensures that you’ll graduate with a degree that’s respected by the hiring managers you need to impress to land a great job in this competitive field.
Yes, you can and should consider getting your degree in accounting online with CSU Global.
Our accelerated accounting degree programs were designed to be completed entirely online, allowing our students to enjoy far more flexibility and freedom than traditional in-person programs.
Studying online with us will make it easier to juggle your educational pursuits with other existing work and family responsibilities, as our programs offer several important conveniences, including:
If you’re looking for a streamlined, flexible degree program that interferes as little as possible with your existing responsibilities, then you should definitely choose to study with us.
Our online B.S. in Accounting program is an excellent choice for anyone looking to launch a lifelong career in this competitive and demanding field.
This program is regionally accredited by the Higher Learning Commission and ACBSP Accredited by the Council of Business Schools and Programs, while CSU Global is recognized as an industry leader in online education, having recently earned:
Furthermore, our program alumni report excellent real-world results after graduation, including:
Finally, we offer competitive tuition rates and a Tuition Guarantee to ensure that your tuition rate won’t increase from enrollment through graduation.
To get additional details about our fully accredited, 100% online Accounting Bachelor’s Degree program, please give us a call at 800-462-7845, or fill out our Information Request Form. Ready to get started today? Apply now!
