For example, I use both FreshBooks and QuickBooks to keep an eye on my business and personal expenses. However, I also hire a professional accountant every spring to file my taxes for me. He literally takes the data from that and plugs it into his own tax software. Is it worth it? Most likely not, but the peace of mind I get for knowing that my chances of being audited will be minimal makes it a little more digestible. There are certainly advantages to using software to track your income and expenses.
And there are most certainly other advantages to paying an actual accountant to do it all for you. Based on my own experience, these are the pros and cons of using software instead of paying an accountant top dollar to manage your numbers for you:. You see, despite how much easier accounting software makes things, I know for a fact that I could not do it as a career. Anybody in that situation needs to love crunching numbers more than anything else.
In my opinion based on one of my own businesses for over 10 years now , accounting as a career will be difficult for you if:. Accounting is hard. Personally, I never really understood this until I started managing the numbers of my own businesses.
It turns out that accountants actually are pretty cool people. Not only because they are incredibly smart, but they keep people like me in check. Also, they have conference and balls to take on the responsibility of keeping businesses afloat. You must be logged in to post a comment. For example, a cash sale increases revenue on the Income Statement and increases cash on the Balance Sheet. And it also increases the cash received on the Statement of Cash Flows. When talking to Accounting students most said that getting a grip on how debits and credits work against a ledger was key to understanding Accounting.
And once they got an understanding of how debts and credits work work it made all the difference! Assets: Debit to increase, Credit to decrease. Liabilities : Debit to decrease, Credit to increase.
Equity: Debit to decrease, Credit to increase. Expenses : Debit to increase, Credit to decrease. Income : Debit to decrease, Credit to increase. Intermediate Accounting is difficult due to being involved with plenty of detail. To be successful do need to have a good foundation of accounting principles.
Cost Accounting is difficult as it is requires very careful and accurate calculation of cost. To be successful need to have a firm understanding of the concepts and logic behind this subject. Auditing is challenging because it requires careful analysis of accounting transactions. Students find it tedious. There are also many technical terms you need to learn, and you need to have a grasp of computer software as well, such as Microsoft Excel and Quickbooks.
As mentioned above, getting an understanding of the basics can be challenging, but once you have them down the degree gets much more comfortable. Accounting is considered as one of the most difficult Majors, and it is when compared to majors such as Marketing, Business and Arts. However, level of difficulty is equal to Engineering and Law. There are many other traits that would indicate you would be a great candidate for becoming an accountant, and none of these are absolutely necessary to succeed in the field, but if you match with several of them then you might find accounting to be far easier than you originally thought.
Accounting work grows more technical, specific, and more critical to organizational success each year, and if you want to launch a successful career in the industry then you should certainly consider enrolling in a degree program to develop the knowledge and skills needed to operate as an effective accountant before you go job-hunting.
When it comes time to choose which degree program to enroll in, CSU Global offers two excellent options. You should enroll in the type of degree program that is best aligned with your professional needs and career aspirations. They can review your educational background, industry experience, and your goals to provide advice on which program would be best suited for you. Both programs have also earned excellent rankings, and our alumni report fantastic results from the job market after graduation.
Furthermore, CSU Global is widely regarded as a leader in online education, having recently received several distinguished rankings, including:. Ready to get started today? Apply now! Colorado State University Global is committed to advancing student academic and professional success in a global society, by providing access to dynamic education characterized by excellence, innovative delivery technologies, industry relevance, and strong stakeholder engagement.
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