** How much training do I need? **
This is a good place to start. And that's because not everyone needs to get a degree in accounting. But what if you did, or just wanted to? What degree should you go for: Certificate, Associates, or Bachelors?
Well the answer to this question comes down to what your job and ultimate goal is. If you want to work in the accounting field without being a full-blown CPA, then a Certificate or Associates might be a good start. But if you want to work as a Controller (Chief Accounting Officer), then you probably want to lean more towards a Bachelors degree.
A Certificate program is relatively short-term accounting training. It generally can take up to a year or so to complete. And many people get hired with just this under their belt! An Associates degree takes the Certificate to the next level. So you get an additional year of training. And the Bachelors degree combines the Associates with classes in other areas besides accounting. So it's broader!
However, my suggestion is to take at least a class or two. And which ones? Financial Accounting at a minimum. Perhaps Managerial Accounting on top.
** What's the difference between financial and managerial accounting? **
This is important because they actually focus on two different areas of accounting! Financial Accounting is essentially basic bookkeeping and an introduction to the world of accounting. You see, accounting is far more than bookkeeping!
Bookkeeping is merely the recording of various transactions, with some running of reports mixed in. But this is one small part of accounting. Accounting also includes things like: Analyzing transactions, making predictions and recommendations, auditing, taxation, etc.
So at the bare minimum, you should take a financial accounting course. And you don't need to be a degree candidate to do so! You can apply as a non-degree candidate and simply take the one class. This will help to minimize your costs and time. And give you a nice introduction to what accounting is all about.
So how do financial and managerial accounting differ? Well it's in their main focus. You see, financial accounting concentrates on basic bookkeeping. So it delves into how you record a series of transactions and prepare various financial statements. In other words, it's focused on outsiders who will look at the info you record and reports you prepare!
By contrast, managerial accounting is focused on those within the company! In other words, you're not preparing reports and recording transactions for others outside the company to use. You're preparing reports and doing some analysis that managers within the company will use. And how will they use it? To determine profitability, manage costs, determine strategies, etc.
For those of you in management, or hoping to rise up the ladder in management, I would suggest you take both financial and managerial accounting. And that's because the higher up the ladder you go, the more decision making you'll do. This requires a solid knowledge of accounting principles and reports that can be run. In other words, it'll help you become a better manager because concepts and numbers will make more sense!
** Where can I get my training? **
Ok, now that you have an understanding of what kind of training is important, the next question is where to get it. Well there are a plenty of places to go!
For example: Community college, technical college, or university. There are even private companies that offer classes in accounting. However, the majority of these are not as in-depth as what you'll find in a college or university.
Now speaking as someone who has worked in the field and taught accounting, let me tell you that the most important thing is this. Go to a reputable and legitimate school!
Why? Because you know you'll get solid training from instructors who know their stuff! And because employers will accept that training as legit.
For example, DeVry is a technical college that offers training in technical things like computer networking. But they also offer business training in areas like accounting. And they're 100% legit and reputable. Now let me make it clear, I'm not saying to go there. I'm merely pointing out that this is one of the many reputable technical colleges out there.
As for community colleges, all of them are legit and reputable! And that's because they are each a part of that state's college system. So any training you get from a community college is considered reputable and solid by employers.
Universities can be either private or public. The public ones, like the University of Washington for example, are part of the state college system. Any public university is similar to community college in the sense that they're all legit and reputable!
The bottom line is this. Schools that are part of the state system (public) are all perfectly legit and reputable. So you do not have to question if you'll get solid training. But with private schools, I suggest you check them out carefully to make sure they're legit and reputable.
** What if I don't have time to go to school? **
Let's face it, there are those of us out there who work long and/or crazy hours. Plus, there are those of us who have to take care of family and are extremely busy. So we might not have a lot of time to go to school. And perhaps the time when class(es) will meet won't work for us.
Does this mean we cannot get accounting training? No! There are alternatives available for you. For example, you can do your training online over the Internet. Many schools--community colleges, technical colleges, and universities--offer this.
Another alternative is to do what we call hybrid training. This is a combo of online and on-campus. For example, most of your lessons could be done online and you may take tests on-campus. Some do it the exact opposite. Your lessons are on-campus, but testing is done online.
And some schools offer weekend and/or evening programs. This way, you can work during the day and to to school at night. Or work during the week and take classes on the weekend.
Lastly, there are full and part-time programs for those of you who want to pursue a degree. Full-time will get you trained sooner. Part-time will give you the same training, but take longer because you don't take as many classes each session (quater or semester).
Now let me say one thing about online training. If you go this route, defintely make sure you choose a reputable and legitimate school! There are plenty of private schools that only online training. Some are legit; others are not. So if you decide to do all your training online, make sure you pick a place that's reputable and legit! Otherwise, you're throwing your hard-earned money away.