How good do you need to be at math? do you need to excel at all of the variations of Calculus? or can you have a good understanding and be a pro at the basic concepts of math?
let me know i am starting to lean towards this field
To do accounting, you just have to enjoy working with numbers and paying attention to detail. Understanding basic algebra can help but not to the extent of being amazing at Calculus.
If only I had a dollar for every time this question comes up...
To answer your question, the only math you need is basic arithmetic and knowledge of VERY VERY basic algebra may help for problem-solving type of questions. However, 95% of all solid business schools will require knowledge up to integral calc and a basic stats course. This sounds hard, but the business calc/stats sequences are way watered down and really not that bad compared to calc for engineers/hard science majors. So if you can stick it out for a couple of calc classes and know generic algebra, you can be an accountant.
I'm only a sophomore, but from my 2 actg classes so far, I feel that having a good memory (you'll have to know lots of terms, formulas/ways of solving general issues that come up, as well as journal entries to some extent), knowing how to apply general concepts to problems/problem solving skills (both of my professors only taught the absolute basics of accounting and application of that knowledge made tests tricky), and the patience to do a bunch of practice problems/read ahead will help you out quite a bit. Accounting isn't that hard, it just takes hardwork, and a lot of people give up too easily.
so in other words in the Accounting workforce you will mainly need arithmetic's and basic algebra, while colleges require to learn beyond those. So basically in college you will learn the more complex math, but not necessarily have to use it at your job?
Im only a junior, but in my experience, accounting is a lot of adding, subtracting, and the occasional multiplication and division. The difficult part for most people is understanding the "rules of accounting". Knowing how different accounts effect each other is a big part of it. Debits, credits, and the like. I personally think accounting is a very concept based field, with numbers in the background. If you have critical thinking skills, self-discipline, and a four function calculator, you could do accounting.
Doesn't anyone do a search anymore instead of just being lazy? If you read the thread, "Everything you wanted to know or should know about accounting," you will find your answer and not have to start another pointless thread on this topic.
The math is NOT hard in accounting. Normally, colleges only require some statistics.You just need a mathematical mind. What makes accounting hard is that it is akin to studying law. There is a lot of memorization, and you need to apply a number of concepts to practical situations.
yea i read that "everything thread" but in case you havent noticed it has a million pages lol, but yea i thinking i am just going to go ahead and go to law school vs the accounting/cpa route
That thread does not have 1,000,000 pages. It only has 72 as of right now. If you don't know enough math to know that, then going to law school might be a better option than accounting.
Indeed. He also has minors in economics, Physics*, and finance. All this while earning a degree in accounting while enrolled in the Honors Program. His sons are both accountants as well. They were going to be morticians, but they didn't have enough personality!
Replies to: How good at (Math ) to do Accounting
To answer your question, the only math you need is basic arithmetic and knowledge of VERY VERY basic algebra may help for problem-solving type of questions. However, 95% of all solid business schools will require knowledge up to integral calc and a basic stats course. This sounds hard, but the business calc/stats sequences are way watered down and really not that bad compared to calc for engineers/hard science majors. So if you can stick it out for a couple of calc classes and know generic algebra, you can be an accountant.
I'm only a sophomore, but from my 2 actg classes so far, I feel that having a good memory (you'll have to know lots of terms, formulas/ways of solving general issues that come up, as well as journal entries to some extent), knowing how to apply general concepts to problems/problem solving skills (both of my professors only taught the absolute basics of accounting and application of that knowledge made tests tricky), and the patience to do a bunch of practice problems/read ahead will help you out quite a bit. Accounting isn't that hard, it just takes hardwork, and a lot of people give up too easily.
The math is NOT hard in accounting. Normally, colleges only require some statistics.You just need a mathematical mind. What makes accounting hard is that it is akin to studying law. There is a lot of memorization, and you need to apply a number of concepts to practical situations.
Indeed. He also has minors in economics, Physics*, and finance. All this while earning a degree in accounting while enrolled in the Honors Program. His sons are both accountants as well. They were going to be morticians, but they didn't have enough personality!
*proper noun