Accounting & Economics Double Major?

[Anonymous]

Drop the econ. I found the upper econ classes to be really weird. I remember taken an economics of fisheries class. I did not understand the first concept.

[Anonymous]

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Anonymous wrote:any recommendation for good colleges for accounting major? Does name recognition matter for internships/jobs? DD is somewhat interested but we are not very familiar with the field, being more geared toward healthcare. Thank you

The best are UT, Notre Dame , UNC, Wake Forest

CPA here- there is a shortage of CPAs, it doesn’t matter where you go to school as long as it is accredited and maintained a GPA of a 3.4 or above. Big 4 firms recruit at many schools, including Towson, Salisbury, JMU

NP. Question for you. College junior was a finance major with econ minor and just recently added a double major with accounting and dropped econ, in part due to fears of not finding work in finance. Doesn't yet have an internship lined up for next summer. I don't know how he plans to approach this, but I'm assuming he really needs to choose at this point between seeking a finance internship vs an accounting internship?

CPA again- Did your junior attend their schools career day? Where did they apply? Did they get interviews. My now senior accounting major applied at the big 4 last September, got offers by early October and accepted before Halloween.

Thanks. Had some interviews for finance but I haven't heard updates on where that process stands. Just added accounting officially as a major the other day.

NP. Does your junior have to take extra courses now that he added accounting as a major? Or already had some classes in accounting? Curious for my sophomore in case he decides on that route.

I looked a little closer. My junior had already taken the intro course that is part of the business core but not part of the 7 accounting courses required for the BBA in accounting. He is currently taking the first of the 7, which is also required for the finance BBA. Two more of the 7 overlap with the finance courses. So, altogether he will be taking about 4 additional accounting courses in order to have the accounting and finance double major.

[Anonymous]

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CPA here- there is a shortage of CPAs, it doesn’t matter where you go to school as long as it is accredited and maintained a GPA of a 3.4 or above. Big 4 firms recruit at many schools, including Towson, Salisbury, JMU

+1. Big 4 , regional Accounting firms, corporations and small companies are all having a hard time hiring trained, educated Accountants.
And due to the shortage, salaries across the industry are starting to increase meaningfully.
Kids- major in Accounting! You will always, always have a good job.
-Sr. Accounting, Finance Exec

Are advances in artificial intelligence a concern for accountants? It seems very likely that AI will be able do most of what accountants do.

It is a concern for people who do basic taxes and compile various reports.

It is less of a concern for those working on more advanced stuff e.g. capital optimization or interpreting new regulations.

I agree - I am a CPA and tried out an AI bookkeeping tool. It was terrible.

The robots won’t come for CPAs anytime soon. AI will be able to do basic data entry tasks, maybe some accounts payable and tax calculations, but because each company is so different, it’s hard to write « rules » that will work for everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
CPA here- there is a shortage of CPAs, it doesn’t matter where you go to school as long as it is accredited and maintained a GPA of a 3.4 or above. Big 4 firms recruit at many schools, including Towson, Salisbury, JMU

+1. Big 4 , regional Accounting firms, corporations and small companies are all having a hard time hiring trained, educated Accountants.
And due to the shortage, salaries across the industry are starting to increase meaningfully.
Kids- major in Accounting! You will always, always have a good job.
-Sr. Accounting, Finance Exec

Are advances in artificial intelligence a concern for accountants? It seems very likely that AI will be able do most of what accountants do.

Advances in AI are a concern for all jobs..However, professions (Accounting, legal, medical, etc.) operate as a cartel, have barriers to entry (e.g. Bar exam, CPA, requirement for a CPA to certify financial statements, etc.), and the necessary legislative leverage to mitigate most of the impact. Its technically easier for a mid-level CPA to be replaced by AI that a good python programmer but the accounting professional bodies are more capable of putting up barriers to prevent that from happening that the programming professional bodies (which doesn't really exist).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:any recommendation for good colleges for accounting major? Does name recognition matter for internships/jobs? DD is somewhat interested but we are not very familiar with the field, being more geared toward healthcare. Thank you

The best are UT, Notre Dame , UNC, Wake Forest

CPA here- there is a shortage of CPAs, it doesn’t matter where you go to school as long as it is accredited and maintained a GPA of a 3.4 or above. Big 4 firms recruit at many schools, including Towson, Salisbury, JMU

NP. Question for you. College junior was a finance major with econ minor and just recently added a double major with accounting and dropped econ, in part due to fears of not finding work in finance. Doesn't yet have an internship lined up for next summer. I don't know how he plans to approach this, but I'm assuming he really needs to choose at this point between seeking a finance internship vs an accounting internship?

CPA again- Did your junior attend their schools career day? Where did they apply? Did they get interviews. My now senior accounting major applied at the big 4 last September, got offers by early October and accepted before Halloween.

Thanks. Had some interviews for finance but I haven't heard updates on where that process stands. Just added accounting officially as a major the other day.

NP. Does your junior have to take extra courses now that he added accounting as a major? Or already had some classes in accounting? Curious for my sophomore in case he decides on that route.

I looked a little closer. My junior had already taken the intro course that is part of the business core but not part of the 7 accounting courses required for the BBA in accounting. He is currently taking the first of the 7, which is also required for the finance BBA. Two more of the 7 overlap with the finance courses. So, altogether he will be taking about 4 additional accounting courses in order to have the accounting and finance double major.

Thank you very much for the detailed information. I appreciate it. Good luck to your junior in his internship search.