Tips, Courses and CPA Advice for Accounting Students
Accounting is a field necessary in every industry because it dissects a business’ financial health so it may further explore its future through discovering financial improvements. Current and upcoming investors are interested in a company’s accounting data because it portrays the entirety of the company’s integrity, such as monetary flow, resources, and problems.
Due to the natural necessity of accounting in the world, it’s no wonder that USA Today noted it as one of the top ten majors to study in college. With generally accepted accounting principles expected from every company, there is a constant abundance of accounting jobs promising rapid promotions (along with a few other perks to pursue this profession). The U.S. Bureau of Labor Statistics even estimated that by 2024, the employment of accountants and auditors would grow 11%.
COLLEGES FOR ACCOUNTING
To embark on this noteworthy career path in accounting, Rasmussen College claims that 98 % of employers seek someone with a bachelor degree. Therefore, in order to inspire your scholarly appetite, we’ve compiled a list of a few of the top colleges to gain that major in accounting across the USA:
1. BENTLEY UNIVERSITY IN WALTHAM, MASSACHUSETTS
With a deep history of teaching eager students the valuable skills of accounting, it’s no coincidence that Bentley continues to rank high on “best colleges for accounting” lists.
2. UNIVERSITY OF NOTRE DAME IN NOTRE DAME, INDIANA
University of Notre Dame’s Mendoza College of Business provides a qualitative accounting education, mingled with liberal arts, so students sturdily grasp the subject.
3. UNIVERSITY OF SOUTHERN CALIFORNIA IN LOS ANGELES, CALIFORNIA
The USA Marshall School of Business gains recognition for its superb accounting education thanks to devoted professors (who publish their own cutting-edge research) and innovative students willing to put in the same trivial effort to succeed.
How to Pass the Class
Everyone knows that study habits are key to achieving good grades. However, cramming for tests the night before an exam rarely works well for accounting majors. Each lesson stems from the previous, and ties to other class lectures. So not understanding one lecture will lead into a domino effect of naivety.
Don’t believe us? Here are a few of the courses you’ll likely see in your accounting major, which straightforwardly correlate to each other:
- Cost management
- Federal Income tax I and I
- Accounting research and analysis
- Legal elements of fraud
- Fraud examination
- Advanced financial management
- Foundations of entrepreneurship
If you obtain strong study habits, you’ll not only achieve higher grades but also gain a holistic knowledge utilized in one class to the next.
However, we know the struggle of opening a textbook after a full day of class. So, to get the ball rollin’, here are some simple study tips to keep up with:
- Follow the syllabus to read each opening chapter before class starts.
- Review your notes after every class to ensure there isn’t any material that you don’t understand
- Do your homework assignments thoroughly and keep up with the reading.
- Rather than just memorizing equations, understand the “why” and “how”.
- Ask questions for further explanations on anything that seems a bit daunting.
Overall, study, even when a test isn’t in the near future, to save time and stress in the long run. There will be much less studying to do the night before an exam if you take it day to day. Studying a few hours per night is also a much easier way for your brain to retain and absorb all of the exotic information in the world of accounting.
The CPA Exam
At the near end of college, or shortly after gradation, it is common for accounting students to take the CPA exam to become a certified public accountant, whose job includes strategizing for personal or corporation taxes, finances, achievements and more. Many states require CPA applicants to have a minimum of 150 college credits before taking the test, which is infamous for its difficulty.
There are numerous review courses out there to pass the CPA exam such as Becker, Yaeger, Bisk, Roger, Wiley, Gleim and Kaplan, which all vary in price. Also, CWU recommends studying for the CPA exam in a certain order for heightened understanding:
- Financial accounting
- Business law and tax
- Business environment
To succeed in the accounting profession, the bottom line is to fully understand the subject by devoting the necessary time. Choose priorities wisely, but don’t forget to have a little fun along the way! Good luck accountants; we need you in this world!