Accounting, narrowed down to its simplest form, can be seen as the recording of every transaction that relates to a business. These records are analyzed and interpreted because they reflect the day-to-day activities of the business, and thus, inform managers and decision-makers on where to make adjustments to increase profits, cut back on expenses, or take action on given issues that affect the business process and growth possibilities.
Taking accounting courses can be of great value for your personal finances. Through basic or intermediate courses on accounting, you can get informed on practical ways of managing your expenses and income to assess your situation within the context of your economic needs. Using this knowledge can allow you to determine spending habits that hinder the achievement of your future financial goals. This knowledge can also play an important role in making informed decisions on personal investments, and avoid the need to hire professional help to decipher financial statements.
Whether you are aspiring to become a Certified Public Accountant (CPA) or simply taking individual accounting courses, you can prepare by polishing your math skills. Mathematics play an important role in any accounting course. CPAs typically have completed a bachelor's degree in accounting or business and are required to pass a 14-hour exam. The exam is divided into four main categories: auditing and attestation, regulation, financial accounting and reporting, and business environment and concepts. Aspiring CPAs are then required to complete about 150 hours of accounting coursework prior to becoming certified.
Employment opportunities for professional accountants include auditing, which allows you to become involved in checking financial statements of corporations or government agencies. Becoming a budget analyst allows you to work as a consultant for various businesses and develop financial plans for the organization's needs. As a financial accountant your work would range from preparing financial statements and making financial planning decisions, to contacting customers and working with spreadsheets.