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/biz/ - Business & Finance

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478123 No.478123 [Reply] [Original]

just came back from my accounting class, former stem fag here, i think i'm gonna actually enjoy this, everything is like a puzzle, and it reminds me of my old chemistry classes, where i had to balance equations and figure out mols, and reactions.

>> No.478129

Not trying to talk you out of accounting, but just not that introduction to financial accounting is nothing like real accounting classes. It gets much more difficult than balancing the A = L + E "equations."

Source: 4th year accounting student.

>> No.478133

>>478123
>>>>>>/blog/

>> No.478166

>>478123
>>478129
I graduated with a Sociology degree last year. If I did a master's in Economics or Finance, would I be more employable in the business sector?

>> No.478185

Big 4 Auditor here...thought I'd give some thoughts:

>just came back from my accounting class, former stem fag here, i think i'm gonna actually enjoy this, everything is like a puzzle

Yup, that's basically what I enjoyed form it and what most of my classmates/coworkers said. Of course there are those who joined simply because it's a stable market. But those guys hate their lives because the job is boring to them.

>>478129
>Not trying to talk you out of accounting, but just not that introduction to financial accounting is nothing like real accounting classes. It gets much more difficult than balancing the A = L + E "equations."

Dude, is based on the Accounting I class. It gets more complicated, but it's not really that hugely different. Except for Tax...I fucking hate Tax and anyone who likes tax is a weirdo in my book (only half kidding).

>> No.478199

>>478185

I don't see how you can enjoy the puzzle aspect of accounting and hate tax, it's the area where most of that stuff is applied.

>> No.478201

>>478185
"Dude, everything in accounting is based on..."*

>> No.478208

>>478199
>I don't see how you can enjoy the puzzle aspect of accounting and hate tax

In financial accounting there's an underlying framework. Shit tends to make sense 90% of the time. Is it perfect? Nah, there are inconsistencies that exist due to political reasons (see Fair Value Accounting and the Banking Industry) and imperfect solutions to really complicated or new problems. But it makes sense...

Fucking tax is just "everything is income except this...and this...but not this..except when this.."

It's one bigass mess because there's no underlying framework. The entire IRC reads like a fucking political timeline, where certain breaks are given to certain groups for etc. reasons in the political climate. Fuck making sense or being consistent.

But it's not just the puzzle aspect I enjoy. I also like the fact that financial accounting, or any accounting, has information about the company that is there, but needs to be "decoded" so to speak. So in a way it's also like a foreign language that only accountants know.

Are your sales bullshit because your credit policy sucks? I can figure it out...Are you horribly inefficient because you don't know how to manage expense? I can see that

Are your factories and machines old as shit? I can figure that out...

Etc.

>> No.478216

>>478208

Maybe American tax is worse than UK tax then, I presumed they would be more similar than different and I recognize some of what you're talking about like random fucking illogical rules that got put in by some governments fourty years ago, but it really isn't anywhere near as bad over here as what you're describing.

Do the different states systems make your tax more complex? I'm not sure how you guys structure your tax.

>> No.478224

>>478216
>Do the different states systems make your tax more complex?

For personal taxes, some states have state income tax and some do not.

>Maybe American tax is worse than UK tax then

I dunno. But tax is just not how my mind works.

The purpose of tax is: What is your tax owed?

The purpose of financial accounting is: What is the financial results of your company? How did you get there? What is it the financial state of it now?

The former can be a puzzle and interesting in its own right. However, the purpose that makes it interesting is the latter.

In other words "what's going on in the company?" is more interesting to me than "how much tax do I owe?". So maybe I just shut my brain off. But I thank god every day I don't work in tax.

>> No.478230

I switched from computer engineering to accounting and immediately switched from barely getting C's to straight A's.

>> No.478232

>>478230
>computer engineering to accounting

Haha same here! Not Comp Engineering...electrical

If you're bright, good student, and social apt then you got it made. Unless your school sucks ballz.

>> No.478234

>>478129
>>478123

CPA here with 7 years in industry here. I can tell you the math is easy but you will find accounts that are fucked beyond all recognition and they will ask you to magically fix them.

>> No.478236

>>478234

>you will find accounts that are fucked beyond all recognition and they will ask you to magically fix them.

Every account in every start up I ever audited.

>> No.478241

>>478185
>It gets more complicated, but it's not really that hugely different

Which is what I said. I never said it gets much different, but classes like the intermediates, audit and tax are much more difficult than the intro classes.

>> No.478243

>>478208
Pretty good description of why I like financial statement analysis work and got a CPA, even though it's not required or expected in my line of work

>> No.478246

>>478241
>but classes like the intermediates, audit and tax are much more difficult than the intro classes.

That's like every other subject/skill/anything you want to learn...what's your point exactly?

>> No.478249

>>478243
> even though it's not required or expected in my line of work

What line of work?

>> No.478255

>>478246
>i think i'm gonna actually enjoy this
>hasn't taken any of the real accounting classes yet

Maybe my point is that OP should wait to take one or two of the real classes before deciding accounting is right for him.

It's really not that difficult to follow.

>> No.478266

>>478255
>Maybe my point is that OP should wait to take one or two of the real classes before deciding accounting is right for him

*shrug* fair enough.

I usually find that the drop off of "enjoying financial acct I" to "I hate this shit" is due to not wanting to put the work to get good grades in intermediate, etc. Which in turns makes your GPA and job prospects lower. But normally, the reasons one likes a subject in the intro classes makes one like in the more advanced classes (unless you're lazy or have an extremely heavy schedule).

Also, tax sucks. Don't take more than the intro class if you hate it.