Is Accounting A Lot Of Math?
Accounting is often seen as a lot of tedious math. In fact, a common complaint about accountants is that they are the only people in business who seem to be able to do anything at all without a calculator. But what if accounting was just as much math as it was, but presented in a more enjoyable way? The first thing to consider is how accounting really is, and how much of math it really consists of.
Accounting is just like any other trade, in that it requires skill and precision to arrive at the information required. The same can be said for accounting; it is a science of numbers. The basic knowledge of statistics, probability and statistics can make a big difference in how well your accounting or bookkeeping work out. While the general public’s perception of accountants tends to include images of sweaty, somewhat sweaty, figures bent over their desk, actually accounting is a lot more of a matter of hard work.
Like many careers, accountancy careers require a sense of creativity and an analytical mind. This combination of highly abstract mathematical knowledge and cold hard business sense makes for a very efficient, productive accountant. However, unlike many other professions, accountancy college’s classes require students to use all their intellectual skills as well as their hands-on ability to successfully perform the job. It is a combination of all of these skills that makes accounting such a challenging profession.
When preparing for accounting college classes, students will be required to learn a lot of hands-on accounting principles. This means understanding why certain things happen, how to identify trends and why they might change, how to interpret financial statements, and the statistical significance of those findings. All of this requires not only hard work but also a good foundation of fundamental mathematics skills. At the core of these accounting principles are the so called “princetonian” methods of accounting which are derived from the insights of John Maynard Keynes, Henry Edward Thoreau, and other noted financial thinkers.
Learning to manipulate spreadsheets is only the first step in entering the world of accounting. The second step is acquiring enough computer skills to operate effectively within the complex world of numbers and data. Accountants must possess excellent mathematical skills in order to accomplish their tasks, and they must have a firm grasp on statistics and probability. A large portion of an accountants day will consist of entering information into a computer and then sorting and filtering it according to the most appropriate criteria. In order to understand the inner workings of an accounting system, accountants must also possess advanced math skills such as algebra, statistics, calculus, probability theory, and more.
Some individuals who might consider entering the world of accounting might find it intimidating at first. If an individual feels that math is intimidating, he or she may want to consider taking classes in a more hands-on way such as via the Internet. There are many websites that offer free online courses in basic mathematics. A variety of multimedia courses can also be found online that allow accountants to enter their knowledge directly into their computer.
As with any career, those who seek employment with an accounting firm will be required to take a standardized test that measures their mathematical and financial skills. It is not uncommon for accountants to undergo drug and personality screenings as well. These screenings are usually performed by hiring managers or human resources departments of accounting firms. Accountants who successfully pass these tests are typically offered a job with good wages and benefits. It’s no wonder why nearly every accountant ends up with a master’s degree in accounting, as the coursework is extremely challenging.
While an accountant can be very intelligent and detail-oriented, some individuals may not have the best math skills. Therefore, those who do not enjoy doing large amounts of math may want to consider accounting as a career option. With proper training and practice, most accountants can get along with the numbers and succeed in the demanding world of accounting.