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An Overview
The Accounting minor allows Accounting students to demonstrate to potential employers an increased interest in the field while still obtaining a more general business degree.
The career opportunities in accounting are extremely varied. The accounting industry involves recording, classifying and interpreting accounting & financial data. Careers includes: Bookkeeper, Management & Financial Accountant, Certified Public Accountant, and Auditors. Students are also provided the opportunity to explore through this minor both private and public accounting.
Where do Accounting Professionals work?
Public and private accountants work in a wide range of organizations including the major accounting firms, governmental agencies, not-for-profits, and small businesses.
- Audit - Work in audit involves checking accounting ledgers and financial statements within corporations and government. This work is becoming increasingly computerized and can rely on sophisticated random sampling methods. Audit is the bread and butter work of accounting. This work can involve significant travel and allows you to really understand how money is being made in the company that you are analyzing.
- Budget Analysis - Budget Analysts are responsible for developing and managing an organization’s financial plans. There are plentiful jobs in this area in government and private industry. Besides quantitative skills many budget analyst jobs require good people skills because of negotiations involved in the work.
- Financial - Financial Accountants prepare financial statements based on general ledgers and participate in important financial decisions involving mergers & acquisitions, benefits planning and long-term financial projections. The work can be varied over time. One day you may be running spreadsheets, the next day you may be visiting a customer or supplier to set up a new account and discuss business. This work requires a good understanding of both accounting and finance.
- Management Accounting - Management Accountants work in companies and participate in decisions about capital budgeting and line of business analysis. Major functions include cost analysis, analysis of new contracts and participation in efforts to control expenses efficiently. This work often involves the analysis of the structure of organizations. Is responsibility to spend money in a company at the right level of our organization? Are goals and objectives to control costs being communicated effectively? Historically, many management accountants have been derided as "bean counters". This mentality has undergone major change as management accountants now often work side by side with marketing and finance to develop new business.
- Tax - Tax Accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, how to best treat a merger or acquisition, deferral of taxes, when to expense items and the like. This work requires a thorough understanding of economics and the tax code. Increasingly, large corporations are looking for persons with both an accounting and a legal background in tax. A person, for example, with a JD and a CPA would be especially desirable to many firms.
What are the course requirements for a minor in Accounting?
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