Accounting is the calculation, processing and communication of financial information about economic entities such as organizations and companies. It can be divided into five fields: management accounting, financial accounting, tax accounting, cost accounting and external auditing.
Accounting is the systematic and comprehensive recording of financial transactions belonging to a business. It is defined as the systematic process of recording, categorizing, verifying and recapping of financial transactions.
Accounting is a complex discipline and a widely differing, inspiring career path. There are a large group of career types and job opportunities available in the sphere of accounting, and the field is growing every day.
Who choose Accounting?
Accounting program is for you if you are the one who really likes Math and good at it. But it is not the most important thing in studying accounting, to succeed as an accountant, you need motivation, determination, organization and a lot of acumen. It’s a challenge not many are willing to take up, but for those who are brave enough, smart enough, and determined enough, accounting can be very rewarding.
Why choose Accounting?
The diploma in Accounting offers the wild field of job prospects. You can progress quickly to a position of responsibility and even work your way up to board level. It’s also an excellent foundation on which to start your own business, or springboard into another profession.
Accounting program expand a wide range of skills such as communication, teamwork, strategy, leadership and problem-solving. After ending university you can choose a global organisation and have a benefit from some amazing travel opportunities.
Working as an accountant provides a lot of new acquaintances with clients, coworkers, bosses, mentors or people you meet by chance at a random event. So your accounting career will bring you touch in with people from a wide range of backgrounds. The relationships you make during accounting career can play a big part in the future.
You place of living and economic situation in your country don’t matter, there is going to be a need for accountants. Through good times and bad, accountants help companies create strategic plans to maximize success and limit chances of failure. Without accounting it would be rather difficult for companies to analyze their financial performance, which would make it harder for them to make smart decisions for the future.
Entry requirements for Accounting
Those who wish to apply for undergraduate study programs in Accounting need to be fluent in English. Applicants whose native language is other from English need to provide certificates (TOEFL or IELTS) to prove language proficiency. Those applying to Accounting program are usually required to demonstrate a strong background in mathematics, while those who have taken courses in business or statistics will be at an additional advantage.
Structure of undergraduate study programs in Accounting
On Accounting program you will explore the essential elements of accounting and finance specifically, through modules on financial accounting, management accounting, auditing, taxation, corporate finance and financial risk. Accounting course also delves into different aspects of business operations, from the challenges of managing people, processes and customers, to the way organisations operate within a global political, legal and social environment.
Career options for Accounting graduates
Accounting degrees open many doors. Graduates at all levels successfully land well-paid positions in public service, small business and corporate settings. Careers in accounting can range from entry level positions to executive level.
Forensic accounting is one of the most in-demand specialties in accounting today. Forensic accountants produce audits of a company, government or non-profit records to determine liability, trickery, and appraisal. These are the people who determine if a company or person falsifies their bookkeeping, provides evidence for court cases, produces calculations for insurance companies to determine amounts owed and computes estate tax valuations.
After Accounting program one with a good head for the stock market may be on the way to becoming a financial analyst. In this position, accountants determine the risks and benefits of investment activities, including both selling and buying investments. Job duties can include examining financial gain and loss of specific stocks, mutual funds, estates and other investment types. Financial analysts prepare reports and make recommendations based on analyzed data and market trends on whether clients should engage in purchasing or selling an investment holding.
With Accounting degree one can become a personal financial advisor – people are always going to need someone to help them and their families make the best financial decisions to achieve their goals and prepare for the future. Advisors help set up retirement plans and accounts. In the event of major life changes like divorce or the birth of a child, people seek personal financial advisors to analyze their existing financial situation and recommend the products and financial commitments to achieve their goals.
According to QS Top Universities Ranking, the best Institution with Accounting programs is Harvard University, USA. Admission requirements for this University and information for international students can be found on our website in the university’s profile.
The list of other world leading universities holding Accounting study programs includes: Massachusetts Institute of Technology, Stanford University, University of Oxford, London School of Economics and Political Science, University of Pennsylvania, University of Chicago, University of Cambridge, University of California, Berkeley (UCB). Most of these universities are located in USA, some specific requirements for applicants in universities of USA can be found on our website.