Accounting is a specialization acquired in the field of business sciences that deals mainly with tabulation of financial transactions, arranging, classifying and maintaining a record all of them and presenting the information in various financial reports and analyses.
Features of Accounting are:
Enhances one's knowledge with respect to various accounting software.
Helps with a better understanding of works carried out in banks.
Understanding of profit and loss of any business or organization.
Accounting offers various degrees respectively, with different specializations.
An Associate’s Degree in Accounting provides technical knowledge about planning, management, organizing and learning about business behaviors. The degree can be completed in two years or less, depending on the university.
The Bachelor’s Degree in Accounting is an undergraduate degree of 3-4 years. It mainly focuses on providing students with the necessary introduction and background to build a foundation with respect to accounting.
The students can enroll for a Master’s Degree in Accounting after completing their undergraduate degree. Concepts related to tax, account management, statistics is taught. This degree can be completed within 2 years.
A Doctorate Degree is pursued after completing a Master’s Degree. Time for the completion of a Doctorate Degree varies. This program aims at the students interested in academic research and professional working.
Some of the specializations offered in Accounting are Financial Accounting, Management Accounting, Auditing, Taxation, Statistics and many more.
Various professions to choose in Accounting are Accountant, Bank Manager, Chartered Management Accountant, Stockbroker, and Auditor.
The average wage of a person holding an accounting degree is around $85,676. The average wages were increased by 3.07%. The total number of people in the workforce can range up to 10.5M. This number is increased by 1.61%. About 10.3% of people work as accountants and auditors.