The Great Unknown

Often when I tell others about my major the response in something like this: “Gross.” Generally this reaction comes from people who are not in the business world. Many business majors react with understanding: “Wow, good luck.” So, I have to think that the ‘blah’ conclusion those outside the business world come up with is because a lot people may not understand the importance and difficulty of accurate accounting.

This is understandable. Often television and comics view accountancy as a boring, uneventful profession. In reality accounting is the support system of every business. It is the behind the scenes work that no one ever pays attention to, but without it the show would not go on.

Right now I view accounting as this great big mystery. Sort of like a puzzle I cannot wait to put together. However, before I can start placing pieces together I have to explore the world of accountancy.

BusinessDictionary.com defines accounting as “a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting, and communicating financial information.”  This definition is a general overview but it gets the point across that there are many responsibilities involved in the accounting process. Then it makes sense that businesses would need accountants; they take care of vital functions of the business!

Not only do accountants carry a lot of responsibility, but they must report accurately and ethically despite the pressure they may feel from superiors who have selfish motives. According to an article in Harvard Business Review, Tandem Computers’ stock immediately dropped 30% after they restated their financial earnings. If their earnings had been reported correctly in the first place, maybe Wall Street would not have been so harsh. You can view this article by clicking here.

Accountancy is not the dull profession many believe it to be. There are all kinds of pressures and drama that can go along with a career in this field. The financial reports are seen as the final curtain call, and if the backstage work is not done with critics in mind, the show will get a bad review.

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