Why Learn Accounting?

Have you ever explored all accounting can do? Accounting involves using skills that employees can apply in various areas of life. Those who enroll in accounting classes learn payroll management, profit and loss ratios, and other business-related concepts. These skills can help individuals to manage their budgets effectively. 

Accounting is versatile, and it is common for accounting majors to learn another related course simultaneously. Individuals may major in accounting, business management, finance, or business entrepreneurship. Learning accounting with related skills allows individuals to work in different fields and increases their chances of getting hired quickly. Regardless of an individual's overall goals, accounting is a valuable skill to add to one's resume. 

What is Accounting?

Accounting involves recording financial transactions and storing and presenting the results in different reports or analyses. It provides proper insight into a company’s financial health. Different accounting types include financial, management, and tax accounting. Employing Accountants is necessary for every company. 

Experts Accountants are crucial to a company’s reliable decision-making, predictable cost planning, and accurate measurement of economic performance. In small businesses, accounting may be handled by a bookkeeper or an accountant, some of which work part-time for several companies. Larger companies may have entire finance departments. 

Learn more about accounting, why you should learn it, and possible careers through Noble’s comprehensive guide. 

What Can You Do with Accounting?

Accounting can be a challenging but enjoyable field of study. Individuals can use their skills to start a business or improve their lives outside work. Generally, accounting courses provide valuable knowledge on managing a budget and expenses effectively. 

By completing accounting courses, individuals learn a broad range of topics. Beginner-level accounting courses cover tax returns, financial statements, and computer applications like Microsoft Excel. Advanced courses may dive deeper into financial analysis and presentation, auditing, fraud examination, and international accounting. The more courses an individual completes, the more options the same individual has. Each course opens doors to different career paths. Possible roles for those who have taken some accounting classes include an auditing clerk or an accounting assistant. 

Students who complete full accounting degrees may take advantage of international opportunities. Individuals who wish to work abroad can easily find jobs overseas, as most accounting principles are not specific to one region. Good recommendations for career advancements and can be used as stepping-stones for other degrees. There are several opportunities to volunteer for large organizations, as they constantly need more Accountants. Individuals can even use their degrees to further their education towards other topics, such as law. 

Common Professional Uses for Accounting

There are a variety of professions in various industries that use accounting. The number of occupations requiring individuals well-versed in accounting is only predicted to continue to grow. Some industries that require accounting skills include colleges and universities, government agencies, healthcare providers, hospitality businesses, and retail stores. One profession requiring accounting skills is that of a Data Scientist. Data Scientists work to discover and analyze trends in data and then report their findings to stakeholders. They use FinTech to grow businesses within the financial services industry. 

Another profession requiring accounting skills is Financial Analyst. Financial Analysts must be able to process, measure, and communicate financial information about businesses. Financial Advisors also require accounting skills when they analyze their client’s finances. They ensure that clients meet their financial goals and conduct research to implement strategies to help clients in their financial operations. 

Budget Analysts use accounting to keep organizations on track financially. They review funding requests and analyze past data to create budgets and financial reports. The skills learned in accounting courses allow Budget Analysts to help organizations plan for their financial future through market trends, revenue, and expenses.

An In-Demand Field

Every industry needs an accountant to determine and ensure a business is earning profits. Besides just using an accounting degree to become an Accountant, there are several other positions individuals can obtain, such as Finance Manager, Financial Advisor, and Business Analyst. As the economy grows, companies will continue to seek accounting and finance professionals. Noble Desktop offers a variety of on-demand finance classes from top training providers.

High Earning Potential

Those who graduate with accounting degrees can land high-paying jobs. Accountants typically earn higher-than-average wages and can make even more depending on their specialization and where they are in the country. Individuals who move to senior leadership positions can make salaries in the six-figure range. Those in management positions often hold graduate degrees, and some roles may require professional certification. 

Entrepreneurship

Individuals who learn accounting possess a mix of technical and strategic skills that set them up to become entrepreneurs. This knowledge allows them to become independent business consultants or offer bookkeeping services on their own time. Accounting embodies most of the critical skills needed to be a successful entrepreneur, such as managing cash flow, maintaining a balance sheet, identifying a path to profitability, communicating about money, and forecasting the future of a business. Those well-versed in accounting are in an excellent position to create financial models and ensure an organization flourishes. They are often able to see the details within the big picture. 

How to Start Learning Accounting

There are a variety of ways to get started with learning accounting. Those who enjoy interacting with instructors in real-time may want to enroll in live accounting classes–online or in-person. Many providers offer live online accounting classes, such as NYIM Training and NYC Career Centers. They teach an Intro to Financial Accounting course that exposes students to the most important concepts a financial accountant requires. Though online classes provide the most flexibility and options, it’s possible to find an in-person class. Future accountants can find in-person classes locally. If you’re in Southern California, UCLA Extension offers in-person courses in the heart of Los Angeles. Located elsewhere? Knowledge Academy provides accounting courses in Birmingham, Bristol, Cardiff, Derby, and Leeds. Many in-person courses happen in or near large metropolitan areas. 

Not everyone can participate in live online or in-person classes, so some learners may wish to explore self-paced or asynchronous accounting classes. Udemy–one company providing video tutorials–offers The Complete Introduction to Accounting and Finance and Accounting: From Beginner to Advanced. Skillshare offers Accounting Fundamentals: Understanding Financial Statements. Udemy is not the only company teaching asynchronous classes. Other providers, including LinkedIn Learning and Brainy Money, have courses for curious individuals.

Noble also offers free accounting seminars. Tutorials, guides, blog posts, and YouTube videos are available. See their resources for in-depth accounting tutorials, like their Financial Modeling tutorials. Their YouTube videos provide detailed descriptions of accounting essentials and the steps needed to master them. Individuals can read articles, watch tutorials, and use other resources related to accounting to further their knowledge. They can also visit Noble’s Accounting classes page to find available courses, including more in-depth courses for those who wish to enter the field. 

Read more about why you should learn Accounting. 

Learn Accounting with Hands-on Training at Noble Desktop

Individuals can learn accounting through finance classes with hands-on training at Noble Desktop. Finance courses boast small class sizes, expert instructors, and free retakes. Noble’s Financial Analyst Training Program teaches excel and critical financial and corporate finance options. Individuals gain basic and intermediate skills in Excel while learning to build a comprehensive valuation model for a public company. Critical concepts taught include advanced Excel for financial modeling and accounting, corporate finance, and valuation. 

Noble also offers Intro to Financial Accounting, through which individuals master the fundamentals of financial accounting and begin taking the next steps in accounting or finance. Enrollees see real-life examples and go through real 10-K’s to better understand how accounting concepts apply to large companies such as Facebook, Amazon, and Apple. 

Key Insights

• Accounting involves skills such as payroll management, profit and loss ratios, and other business-related concepts that can pertain to life outside of work. 
• It is an in-demand field, as nearly every industry needs an accountant to ensure a business is earning profits. 
• Those who graduate with accounting degrees can earn high-paying salaries and use their technical and strategic skills to become entrepreneurs. 
• Individuals can receive comprehensive accounting training through in-person or live online courses with Noble Desktop.