Everything you wanted to know or should know about accounting

<p>Let me emphasise, since I keep seeing posts recommending IB, law, medicine. engineering etc. for making a good living. A good accountant can make a LOT of money. It certainly isn't unusual to be earning in excess of $100,000 a year after several years in the industry. If you make partner, have a successful practice or become a manager in a firm, you can easily make $150,000-$250,000 a year and MORE.</p>

<p>As one poster noted, accountants are traditionally shy about espousing their earnings. I can tell you that many partners in successful mid-size firms earn in excess of $400,000 of net income per year. Partners in successful large firms can earn $800,000 a year and up. Don't let anyone fool you: accounting can be a very lucrative career IF you are competent and probably more lucrative than most of the careers noted above.</p>

<p>ok so im interested in accounting as well and i would really like to know the timeline for all of this.
the internship is the summer between junior and senior year right? then you graduate, then you get into a msa program, then you reach 150 credit hrs, then you take and pass the cpa test and join whoever you interned w/?</p>

<p>Actually, you usually start working for a firm while you are studying for the CPA.</p>

<p>Starting up your own firm = Big bucks.</p>

<p>Dawgie, let me change what you said to: "Starting up a firm could make you big bucks."</p>

<p>Let me address one major question: If I don't major in accounting,but majored in something else ( insert your major), can I still qualify for the CPA exam?</p>

<p>Answer: You do NOT have to major in accounting. You do, however, have to take certain courses in order to make you eligible to take the exam. Although it is a uniform exam, the course requirements vary by state. Thus, you need to check with your state board of accountancy. Some states require two quarters of economics such as New Jersey. Some require a course in ethics ( Maryland). Also, most states require at least one course in business law and marketing, and some also require a course in management and finance. In addition, you need to have a number of accounting courses taken at schools other than Junior colleges. You generally need one year of intro accouting, at least two semesters of intermediate accounting, one year of auditing, one year of cost and at least a semester of tax. Overall, states usually require between 24-30 credits of accounting courses. </p>

<p>Also, even if you majored in an unrelated major, you could always get a masters in accounting which should qualify you for the exam. However, you really need to check with your state board of accountancy to check out any additional required courses besides accounting.</p>

<p>How can I find out which Colleges are AACSB (accreditation and regional accreditation) ??</p>

<p>The site was not helpful.</p>

<p>The AACSB site does list all of their member institutions. I think you will find it under the categoy members. When you do a search, don't put in any state;thus, it will access all members.</p>

<p>It's the top quick link on their front page</p>

<p>Or try something a little more difficult: click Accreditation, then Accredited Institutions</p>

<p>Is it common to try and get an internship after your freshman year for the summer ?</p>

<p>All of the accounting programs that I'm familiar with don't introduce the principles/introductory courses in accounting until the sophomore year; therefore, it would be extremely unusual to get an internship after your freshman year.</p>

<p>A new website devoted to providing career information on accounting for students:
Start</a> Here. Go Places.</p>

<p>I have an accounting question. Each state has its own number of hours of accounting classes needed to become a CPA. When you move from one state to another after passing the CPA, do you need to take more classes if you move to a state with a higher number required? Or is it after you pass the CPA, you are qualified in any state?</p>

<p>The reason I ask is that I would like to move to Chicago for work. Illinois only requires 24 hours of accounting as part of the 150 total. If I later decide to move back to Texas where I am from, the requirement is 30 hours of accounting. I don't want to have to go back to school but I definitely want geographic mobility.</p>

<p>From the Texas State Board of Accountancy's website:
If you are a CPA and were not certified in Texas, then you may apply for reciprocity in Texas. You will need to meet the same requirements as a Texas candidate, be in good standing in your original state of certification, and currently hold a license or permit to practice public accountancy in a state other than Texas. .</p>

<p>Generally, once you get your CPA license, you can get approved to be licensed in another state by "endorsement,"which basically means reciprocity.</p>

<p>Does the school have to be AACSB accredited? I know Golden Gate University is not and the Big 4 recruit there.</p>

<p>I will have my bachelor's in August 2008 where I majored in psychology and sociology. I've decided to go towards a business career, not necessarily an accountant. I figured I might as well major in something that interests me and get my accounting courses later, since every state requires 150 hours now. If I do decide to become a CPA, which do you think is better? Just go to a 4 year university in the area I would like to work and take the required courses? Or get a master's in accounting? Taking the courses as a postbac is cheaper, I would not have to take the GMAT, get letters of recommendation, etc. Or maybe a graduate certificate?</p>

<p>What do firms think of online courses?</p>

<p>Thanks for your time.</p>

<p>**RESOURCES????</p>

<p>Does anyone have any resources on the effects of different types of
recognitions of cash paid and expenses and what effects it has on
accounts? I hear that's a big part of A-100 (at least in my University)
and i'm wondering if there are any online worksheets or whatnot that could
cover that. Thanks!**</p>

<p>No , a school does NOT have to be AACSB accredited. However, attending an AACSB accredited school will help greatly if you want to get into a gradschool or transfer credits to there. </p>

<p>My son had a 3.15 overall GPA and majored in accounting. He applied to grad school , and wasn't given much chance for admission UNTIL they found out that he attended an AACSB accredited school. Everything changed after that , and he got admitted.</p>

<p>What about my other two questions? Thanks.</p>

<p>radron, there's a reason why majors have fundamentals classes such as Accounting 101. They're designed to drill it in your brain, love it or hate it. No amount of summer studying is going to make it stick any better, but it could make you hate it even more.</p>