Pursuing a career as an accountant might be one of the best ways of investing in your education. All too often, graduates have celebrated their milestones of completing their associates, bachelors, masters, and even Ph.D. degrees without knowing whether or not the degree that they’ve worked so hard for will render a return on their investment.
The reality of pursuing a post-secondary degree is that there are no guarantees that anyone will land a dream job that offers financial security. However, it has been proven time and time again that these can be increased with a college degree. What better way to do that than with an accounting degree from Florida National University (FNU)?
Accountants have a pretty good idea about how the hard-earned dollars contributed by American taxpayers are put to work, and they know that a small portion is allocated to the Bureau of Labor Statistics of the United States Department of Labor. The BLS is responsible for analyzing the labor market and making employment projections based on econometric data; with regard to the accounting projection, the current BLS outlook is as follows:
- From now until the year 2026, demand for accountants and auditors will increase by about 10 percent, a rate faster than the national average for all occupations.
- More than 1.5 million American accountants are expected to be employed by 2026.
- Even with periods of recession, the American economy will continue to expand, and this means that more financial records will need to be generated and analyzed.
- Florida is one of the states where accountants will continue to be in high demand. California, New York, Pennsylvania, and Texas are also expected to offer many job opportunities to accounting professionals.
Obtaining a degree in accounting from FNU has many advantages. Here are six of them:
1. Accountants Have a Better Understanding of Finances
After years of studying the art of managing money, accountants gain the type of knowledge many people are happy to pay for. Earning an accounting degree at FNU offers students a wide array of knowledge beyond ledger management and financial reporting; the FNU accounting curriculum also includes courses in areas such as micro and macroeconomics, business and tax law, corporate finance, spreadsheet analysis, banking and finance, management, and supervisory skills. These skills are applicable to any job profession, and this means that employers would greatly benefit from job candidates who possess these skill sets. Accounting skills can also be applied toward other professions such as financial planners, fund managers, banking specialists, and others.
2. The Growing Demand for Accountants
As previously mentioned, there are no guarantees that anyone will land a job once they have earned their degree, but it is worth noting that the demand for accountants consistently ranks high. Since accounting essentially entails managing money, it can be considered to be a major driving force of our economy. Every business needs at least one accounting professional to handle their finances; in some cases, large corporations will employ accounting departments with hundreds of employees at offices around the world. It is safe to assume that significant demand for accountants will continue in the 21st century and beyond.
Everyone needs accounting; the demand is always constant, spanning across all business and industrial sectors, thus creating job security along with career longevity. It is up to prospective accountants to take the first step and learn more about what FNU has to offer. The Bachelor of Science in Accounting program can be fully completed online; however, you can also take a blended approach that combines classroom education with internet courses. Students with full-time jobs can take evening classes at FNU campus locations in Hialeah and Miami, and they can also apply for financial aid. For more information about this FNU program, get in touch with one of our academic counselors.
3. Opportunities for Advancement
With the right kind of networking connections, an entry-level accountant may increase his or her salary potential within a year. With the right combination of college accounting skills plus continuing professional education, accountants can expand their options by pursuing specialized positions such as Budget Analyst, Auditor, Controller, Tax Accountant, Payroll Clerk, Certified Public Accountant, and even a Corporate Financial Officer. Additionally, the combination of accounting with other business skills will create an attractive resume that employers will certainly notice.
Having general knowledge of accounting principles provides a good foundation towards advancing into higher positions. With positions such as Cost Accounting and Financial Planning and Analysis, it is important to know how reported figures are generated. Modern financial statements and reporting are more than just PowerPoint presentations; the finance sector is under pressure to become more strategic because this is what shareholders demand. Companies expect their accounting and finance department to analyze, explain, and take action.
4. The Pay Range for Accountants is Competitive
Because of the nature of their profession, accountants typically begin their careers at enticing salary levels. The Bureau of Labor Statistics reported that the median salary for accountants working in the government sector in 2017 was $67,100 per year, which comes to about $31 an hour. The lowest was 10 percent earned $43,020 while the highest earned approximately $122,220. These salary figures may vary depending on one’s regional location, whether the company is privately owned, public, or operated by the government. It is also likely that higher paid salaries are offered in bigger metropolitan areas.
5. The Ability to Start Your Own Business
It is not uncommon for accounting professionals to become entrepreneurs; this often happens after years of on-the-job experience when accountants have developed a good amount of business contacts. Accountants may feel more comfortable after years of networking to use the contacts that they’ve developed to start their own business. Whether it’s consulting or specializing in tax accounting and representation, the options are endless when it comes to financial affairs.
Forbes magazine often lists accounting as one of the best for prospective college students, and this is likely because it is the type of profession that can hold its own in today’s job marketplace, and it is often recommended for people who live with disabilities because of easy accommodations. Even as a self-employed accountant, there is good potential to earn a great deal of income just because of the steady demand for money management.
6. Gaining a Better Understanding of Taxation and Business Law
A good accounting degree curriculum will include courses on business law as well as taxation, and this is what the FNU Bachelor of Science in Accounting program offers. Because of the personal, legal and business repercussions of breaking or neglecting tax laws, accountants must acquire some taxation knowledge. As part of FNU’s commitment to serving the South Florida community and maintaining its degree-granting accreditation with the Southern Association of Colleges and the Florida Commission for Independent Education, courses and programs are regularly evaluated for freshness and relevance; in the case of accounting, making sure students learn about taxation and business law topics is crucial.
Enroll in the FNU Accounting Program Today
Earning a degree in accounting puts you at a strategic advantage for many opportunities that may accelerate your professional career. FNU’s accounting program does not prepare you to sit for the CPA exam; however, it does prepare you to learn general accounting principles. It also helps to place you as a serious job applicant in organizations where accounting skills are in high demand.
FNU is dedicated to promoting academic and career success. We offer our students a vast array of educational programs in various subjects that can be completed with a flexible approach. It is time to invest in your future by looking into accounting; learn how to make it happen and apply to FNU today. Scholarships and financial assistance are available to qualified students.