This Spring, students in Introduction to Financial Accounting got to know faculty members a little better and answered the question, “Why Accountancy?” by completing a two-part activity. The course is required for all Farmer School of Business students; 350 students out of 540 participated in this activity.
The first part was a matching game where students were given profiles and fun facts about their accountancy professors, then asked to complete a matching quiz. In the second part, students were asked to visit a faculty member during their office hours and ask them why they chose accountancy, how an accountancy degree provides flexibility as well as financial and job security, and how accountancy might pair with students’ (other) majors. They then wrote summaries sharing what they learned. The conversations proved informative and fruitful for students, with several students mentioning a desire to consider an accountancy major or pursue an accounting minor afterwards.
Everyone needs accountants
A major theme that emerged from students’ interview notes was that accountants are needed in every field–from the traditional accounting firms to forensic accounting, climate accounting, and in large as well as small businesses. As Professor Qing Burke explained, “Every organization needs to know what is going on, and accounting is the language of business. If you know accounting, then you’ll know how the business works and where one can improve, which enables an accounting major to serve various roles in almost any department and position.”
An accounting degree provides flexibility as well as financial and job security
One highlight from a student’s conversation with Professor Dan Heitger was his description of all the accountants in his family: “He mentioned that one of his daughters works at a forensic consulting firm in Denver working on court cases, while his other daughter wants the more traditional office life in the suburbs…his wife stayed home with his children after she graduated from college, and now she works part time doing bookkeeping and taxes during the busy season. All of them graduated with a degree in accounting, and work very different careers.”
Echoing this thought, a student cited Professor Po-Chang Chen: “He explained the diversity and flexibility of a career in accounting. Accounting allows you to be not only an auditor but also gives the possibility of consulting or tax advice. He also explained how broad the range of employers was for accounting. You can go into the Big Four public accounting firms, you could look at smaller ones, or you can work for a business as their in-house accountant.”
A conversation with Professor William Brink underscored the financial and job security that comes with an accounting degree: “The first point Professor Brink made was that there is a misperception that in times of recession, that all jobs go on the decline. However, in these times, accounting jobs go on the rise more than ever, so there is great job security for that reason. As far as financial security, a salary of $65,000–$70,000 is generally guaranteed immediately after college. It is also very possible that one can be making six figures in 4-5 short years.”
How accounting complements other majors
Many business students majoring in other disciplines better understood the value of accounting courses to their majors after speaking with these professors. An economics major interested in criminal justice connected with Professor Brink’s move to accounting from his undergraduate degree in criminal justice. “I plan on going to Law School after, so we discussed how our paths seem quite similar in some ways. He said an accounting minor may be something to consider for that reason.”
A real estate major stated, “[Professor Chen] helped me to understand how I will use accounting in real estate development. Learning about how what we’re learning in class right now will apply later in life when I am investing in properties and redeveloping them allowed me to make better connections to what everything we are learning actually means.”
A marketing major who met with Professor Heitger learned that having an accounting minor/double major along with a marketing degree will give her the greatest number of opportunities as well as allow her to choose what path she wants to take. “Professor Heitger shared a story about a marketing major with a minor in accounting, who was chosen for a job after an interview because of the knowledge about logistics and the financial part of the business that he gained from accounting.”
A financial accounting major is now considering an accountancy double-major after discussing how accounting and finance go hand in hand with Professor Jon Pyzoha. “He mentioned how the majority of CFOs are from accounting backgrounds.” Echoing this statement, a student noted Professor Annie Farrell’s statement that “many jobs have the title of finance, but are actually accounting.”
Thanks to all the students and faculty members who participated in these interviews! The faculty really enjoyed getting to know more students, and many said it’s nice to see even more familiar faces in the halls of FSB.