WHY PURSUE A CAREER IN ACCOUNTING?

Eunice Albert T. Dela Cruz and Rozzema N. Eustacio

AC202
College of Business Administration
Lyceum of the Philippines University - Cavite

Accounting, the most terrifying course to others, is a career choice that has not gain much
interest and attention from the public. Instead, it is viewed as a tedious and wimpy path where
numbers enveloped the neurons of the brains. But in reality, the profession is dynamic and
worthwhile, providing access to a bright variety of opportunities ahead. There are so many
reasons laid down justifying why to pursue a career in Accounting.
As part of this research essay, we have conducted an interview with several Accountancy
students from different year levels, from first year to fifth year from different schools in the
Philippines about their reasons for continually pursuing this course. Various answers from
different respondents were garnered as a result. Out of the total twenty students that we have
interviewed, four from each year level, more than half or 55% pointed out the different
opportunities waiting for them ahead as their reasons for choosing to be in this industry. Nine
students, representing 45% of the total respondents, explained that the high salary rate for
Accountancy graduates motivate them to stay in this journey. One student even shared that he
believes that this profession can assure him success in the future because of the monetary
compensation that is really promising. The primary reason for getting through this program is
very apparent, based on the interview discussed above. In addition to this, there are other
researches emphasizing more reasons and elaborate discussions regarding the subject.
One of the factors to consider in choosing a career is the earning opportunity it will offer
to you. Fred Deckers article (as cited in the Bureau of Labor Statistics) reported a median
income of $62,850 for accountants in its May 2011 Occupational Employment Statistics. This is
equivalent to more than 2.7 million pesos, apparently a huge amount of money which cannot be
easily earned by any other profession. For an instance, a full-time bookkeeper, handling
routinary financial activities such as payrolls, billings and purchases; and an accounting clerk,
assisting accountants with routinary activities may earn an estimate of $18,000 to more than
$40,000 or Php 792,000 to more than Php 1,760,000reflecting differences in job responsibilities,
the size and type of employer, and the supply and demand of bookkeepers in a given geographic
area as indicated by Harold Averkamp (as cited by the Bureau of Labor Statistics). They also
presented that an accountant, supervising lower accounting staff, calculating and monitoring
costs, expenses, analyzing ledger account balances, and preparing financial statements, may
gather about $40,000 to $80,000 or Php 1,760,000 to Php 3,520,000 or more.
According to the Bureau of Labor Statistics (BLS), job openings for accountants in the
United States are projected to increase approximately 10 percent between 2010 and 2020
(Montoya, 2013, March 16). This may imply that as though graduates may continually increase
in number for years to come, they are to have adequate job opportunities. Also, accountants are
employed in all companies as they are one of the key personnel. The Institute of Incorporated
Public Accountants (IIPA) website described an accountant as an enabler that is they help the
business to achieve their targets by providing information of performance, finance and progress
and also ensure that they are in compliance in important areas such as tax, company returns, and
contractual obligations and so on. They control and analyze the financial matters of a company

which are very important. Profit is the primary motivator of a business and also its secondary
purpose for existence. Therefore, proper disclosure and reporting of necessary information done
by accountants is very detrimental. Accountants, on the other hand, can also be found in other
institutions aside from businesses. They may choose to work in charity and other non-profit
organizations, in the government and in academe. The available opportunities may as well extend
from the aforementioned placements as the College of Business Administration of California
State University, long beach (as cited by American Institute of Certified Public Accountants)
stated that there's one degree that gives you the education to succeed at just about anything in
the business world. It's an accounting degree. Accounting opens doors in every kind of business
coast to coast. It can give you the foundation you need to go on and become a CPA... In fact, no
matter what you decide to do, having an accounting background can open doors wide."
As stated by Contract Accountants, people with knowledge and skills in accounting and
finance are highly sought because of the nature of the profession itself, changing laws and
regulations, globalisation and dwindling interest in the profession in other countries. As the
world evolves in many aspects such as in businesses and law, the need for accounting talents is
one of the qualifications to continually cope and proceed to the rapidly transforming systems and
lives in the world. They also stated that history even tells that because of current problems in and
outside the country, such as several corporate scandals and controversies calling the attention of
the global community, as well as recessions after recessions, many companies now find the
significance of corporate finance professionals and thereafter increase their roles in the drastic
economy.
Contract Accountants also identified that accountants are offered more likely a stable job
because their service begins at the start of the companys operation and still remains until the
companys dissolution and liquidation. There is a longer demand for their talent and ability even
if the company has already closed its doors.
Finance and accounting department are the ones being consulted in times that a company
may start to experience consecutive losses and downfall in its operations and transactions and
therefore have got more say in the affairs of the business than all of the other professionals. This
makes finance professionals stand out from the crowd (Contract Accountants).
Contract Accountants realistically noted that even though there are professions that have
been made redundant by mechanisation and globalisation. There are others that have diminished
in importance. Accounting is not among these groups. Thus the accounting and finance
profession stands out as one the few professions that are actually growing in these times of
economic see-saws exacerbated by globalisation.
Because Accountancy is a difficult program, it gives the professional sense of satisfaction
considering the amount of time one spends building a career and then working on the job. It is
also pointed out that accountants are catalyst, rainmaker, and the translator who turns vision

into reality. CPAs continuously foster personal and professional development and creativity
even after graduating and having a license. Truly, it is after those times when they start to deal
with the real world. They acquire new skills or improve previous ones such as communications,
leadership and strategic thinking... interpret converging data, anticipate and create opportunities,
and translate complex information into critical knowledge. It is not just creative processing that
is being developed but as well as an accountants intellectual aspect. To train as an accountant is
to develop your critical thinking skills, analytical abilities and problem-solving capabilities. To
earn your CPA is to also commit to lifelong learning and to be continually broadening your
horizons.They also got the chance to contribute to society as they make not an ordinary
difference in the lives of their clients, be individuals, helping them achieve their financial
objectives; or entities, assisting them to identify new market opportunities and solving and
preventing fraud. The title, Certified Public Accountant carries with it a high value of respect
and prestige the same as those for doctors, lawyers and bankers, attaining an exceptional level of
success and accomplishment. Those instances clearly show that pursuing a career in accounting
is a greatly rewarding activity (New Jersey Society of Certified Public Accountants).

References:
Decker, F. (n.d.). Why Pursue a Career in Accounting?. Work by Houston Chronicle. Retrieved
from http://work.chron.com/pursue-career-accounting-3517.html
Montoya, M. (2013, March 16). 4 Reasons You Should Choose an Accounting Career. Retrieved
from http://www.examiner.com/article/4-reasons-you-should-choose-an-accountingcareer
Why Choose Accounting as a Career? (n.d.). Retrieved from Institute of Incorporated Public
Accountants Website: http://www.iipa.ie/Accounting%20Roles.html
College of Business Administration of the California State University, Long Beach (n.d.).Why
Major Accounting. Accountancy. Retrieved from
http://www.csulb.edu/colleges/cba/accountancy/major/
Contract Accountants (2012, March 27). South Africa needs Finance Professionals. Financial
Recruitment. Retrieved from http://contractaccountants.wordpress.com/2012/03/27/southafrica-needs-finance-professionals/
Averkamp, H. (n.d.). What is a Bookkeeper?. Accounting Jobs and Opportunities. Retrieved
from http://www.accountingcoach.com/careers/accounting-jobs
Benefits of a CPA Career (n.d.). CPA Career Path. Retrieved from New Jersey Society of
Certified Public Accountants Website: http://www.njscpa.org/index/students/careerpath/benefits-of-a-cpa-career

No dates, but with author?

With question marks on titles?
No author but in an ngo website. Sino ang considered na author?
Pag company pobaang writer, considered pobasiya as an ngo?
Kapagpoba professional organization,considered as an NGO?