Why does everyone major in accounting? (2 Viewers)

[Cookie182]

well i want to go into public policy or dept. of trade and foreign affairs so it would be different.

definately. But you obviously have a fair idea of exactly where you want to be, for the average commerce student who is still unsure i think accounting is a good, broad and safe option.

 

[shoxgeneration]

in fact, this area of Forensic Accounting seems very appealing- particularly as im doing a law degree as well. Anyone know much about it? Any one work in it?

hey yea i work in forensics - it does sound very interesting aye? haha, i found out about it in first year in like those accounting pamphlets.

 

[-Anfernee-]

now im doing first year accounting its damn interesting, especially when you can pull out your parents accounting statements etc for their small business and understand exactly what is going on, do your own tax return, im definately considering majoring in it

in fact, this area of Forensic Accounting seems very appealing- particularly as im doing a law degree as well. Anyone know much about it? Any one work in it?

lol, you don't need to major in Accounting to do that.

but in respone to the thread topic. I guess I will definitely consider majoring in Accounting.

 

[Ralph]

I mean, it sounds really exciting and all lol.
But really, why?

Because the rest of the majors except Finance and maybe Marketing are bullshit

 

[seremify007]

I'm currently an auditor and I've spent the last week analysing the robustness of provisions under AASB137 and researching the general banking and capital market environment to develop independent expectations on business performance.

eheheheeee..... I spent the past week buying a printer, researching the purchase of a projector, and finding out about some dodgy guy who was rorting a client.

 

[Minai]

Yeah I'll put my hand and say yep I thought I'd never do accounting, ever, when I first started at uni...and at the end of first year I transferred from economics to commerce majoring in accounting!

Fast forward a few years and I've been working at EY as an auditor for over 2 years and as seremify and vagabond would attest to, what "accounting" grad can do is really diverse.

A couple of weeks ago, I was at a "large casino" in Sydney at 3am (well..there is only one..) observing how cash is dropped from the table games and how the cash gets transported to the count room and eventually the main vault. The sight of close to $3 million is $100 notes was the highlight of my night/morning lol...

I guess the moral is, most people don't decide they want to be an accountant when they finish school, I guess some people (like myself) simply fall into it as they don't really know what else they can do (I could never do anything finance related), as a career, it isn't all that "boring/nerdish/crap" as first thought by many when leaving school.

 

[latvia]

Do you enjoy ur job, Minai? Is it realllly intense as one would expect an accounting-related job to be?

 

[Bobness]

Yeah I'll put my hand and say yep I thought I'd never do accounting, ever, when I first started at uni...and at the end of first year I transferred from economics to commerce majoring in accounting!

Fast forward a few years and I've been working at EY as an auditor for over 2 years and as seremify and vagabond would attest to, what "accounting" grad can do is really diverse.

A couple of weeks ago, I was at a "large casino" in Sydney at 3am (well..there is only one..) observing how cash is dropped from the table games and how the cash gets transported to the count room and eventually the main vault. The sight of close to $3 million is $100 notes was the highlight of my night/morning lol...

That actually sounds pretty cool.

/Springs the birth control joke on you.

Life seems beautiful post-UNSW.

 

[Minai]

Do you enjoy ur job, Minai? Is it realllly intense as one would expect an accounting-related job to be?

It has its downs (such as now...as its "busy" season when all 30 June year-end companies need to be audited), which means working longer hours, however, yes I do enjoy it most of the time. In terms of being intense..it does vary - some clients are small, and as such we have tighter budgets and hence must do lots of work in little time, and other clients might have tight reporting deadlines (US subsidiaries for example), but outside of that, no its not intense.

The positive thing about audit in my opinion is that its harder to get "sick" of what you're doing, cause you're not chained to the one desk every day. For example one week I might be at a casino, the next week at an international music label, the next week a multinational software company - hence the work varies since the accounts and issues you are researching and auditing depend heavily on the client's industry.

That actually sounds pretty cool.

/Springs the birth control joke on you.

Life seems beautiful post-UNSW.

heh, wouldn't say beautiful...my weekends are essentially snuffed out by the damn CA program more often than not, but there is light at the end of the tunnel

 

[jessi90]

what exactly is 'auditing'? and yes ive tried googling it

 

[latvia]

Thanks Minai.. that's really interesting! Who said accounting is boring? And it's cool that u keep an optimistic, mature attitude.

 

[latvia]

what exactly is 'auditing'? and yes ive tried googling it

you "check" the financial reports (balance sheet, income statement, etc depending on the agreement with ur client) to see if they are "true and fair" in accordance with, for example, the accounting rules (AASBs)

 

[vs2328]

approximately how much do auditors earn a year?
my cousin works at earnst and young however i havent had the chance to ask her.

 

[ifsonotso_100]

approximately how much do auditors earn a year?
my cousin works at earnst and young however i havent had the chance to ask her.

dumb question, its like asking how much does a trader earn.

For an auditor it depends on 1) are you referring to internal or external, position, firm etc. A grad would usually expect about 40-50, it then increases as you gain more experience obviously.

 

[doink]

in my experience more people major in finance.

 

[seremify007]

dumb question, its like asking how much does a trader earn.

For an auditor it depends on 1) are you referring to internal or external, position, firm etc. A grad would usually expect about 40-50, it then increases as you gain more experience obviously.

It's probably alot easier to ask how much an auditor earns though... our salaries tend to be a little bit more "fixed" unfortunately.

Traders on the other hand...

 

[ifsonotso_100]

It's probably alot easier to ask how much an auditor earns though... our salaries tend to be a little bit more "fixed" unfortunately.

Traders on the other hand...

yeah thats true but even still there's a big disparity between a grad and what a senior partner would be earning at a large firm. Though the diff won't be as much as what a top trader and a newbie trader would be earning I'll admit lol