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College and University Discussion
Reply to "Accounting & Economics Double Major?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My son is a freshman college student majoring in business. I wish he’d consider accounting and I’ve “gently” suggested it but his answer is that he’s not wonderful in math. Are there any accountants reading this that weee B/B+ math in HS? He’s doing well in his college math class now, much better than he did in HS. I hope he has a change of heart but I know the accounting freshman majors are already in certain classes so he’d have to catch up if he does choose that path. Not sure of what concentration he’ll choose. [/quote] I'm a CPA from another country and have been a CFO/CAO at multiple companies before coming to the US. Kick myself for leaving that domain and moving over to IT. Fundamentally, accounting is about arithmetic. You are not going to be using geometry, algebra or calculus. You need to know how a business event translates into two of four things - Revenue, Expense, Asset or Liability. That's it, and even that is done by software these days. On top of this are wrappers of regulations, rules, standards and best practices which kinda color those numbers and you need to be aware of those. You also have to deal with different types of accounting - financial, management accounting, etc. and US tax laws are very nit-picky and you need to master those. Does get mundane but once you get the hang of it, it's mostly repetitive work and your value increases with experience. The CPA is a great moat and barrier to entry unlike, say, programming in Python. [/quote] Thank you for the detailed information. I appreciate it. [/quote]
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