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Does Accounting Ever Get Interesting?

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Replies to: Does Accounting Ever Get Interesting?

  • DawgieDawgie 1574 replies2 postsRegistered User Senior Member
    Yea, because you can't make any decisions based on understanding financial statements. Damn kids.
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  • Inmotion12Inmotion12 1024 replies18 postsRegistered User Senior Member
    You should look into consulting if you enjoy that kind of work. And yes, finance jobs usually require a bit more of a risk taking attitude, but most of them are simply selling banking products or analyzing financial statements. The strategizing and decision-making comes with experience rather than major.
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  • WhatdidyouWhatdidyou 535 replies4 postsRegistered User Member
    Dawgie, im not saying that you cant make decisions off of financial statements. I have no idea where you got that.

    I was discussing about in the finance class, we analyze the financials in the case and/or the steps that the individual in the case made, and decide on a solution to the problem/issue. In accounting courses, it usually isnt about solving a business problem or making a business decision based off financials, its more about recording the entry correctly. In my finance course, the course is more based around how to make decisions for the particular issue that is presented in the case (for example: an investment decision/issue).

    Inmotion - you're probably right. decision making comes with experience not major, whether its in the accounting or finance career paths. Although I am enjoying that class, I am completely happy that I chose accounting.
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  • DawgieDawgie 1574 replies2 postsRegistered User Senior Member
    "Dawgie, im not saying that you cant make decisions off of financial statements. I have no idea where you got that."

    Did you just miss the entire point? The understanding of financial statements comes through accounting not finance. This was in response to your comment about learning finance to make decisions while accounting just learning how to account for things. Damn kids.
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  • AAli4RealAAli4Real 348 replies26 postsRegistered User Member
    I just wanted to chime in and say that, after taking the first two required accounting classes for business majors, the subject is one of those majors/fields where either you get it or you dont.

    There are some things in accounting that I enjoy, others not so much. For me, it was the professors that turned me away from accounting because they made a dry subject even more boring and unbearable.
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  • WhatdidyouWhatdidyou 535 replies4 postsRegistered User Member
    Chill out man.

    I've only ever been talking about Finance CLASSES as opposed to Acctg CLASSES. I never said that you dont gain an understanding of f/s from accounting classes.
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  • DawgieDawgie 1574 replies2 postsRegistered User Senior Member
    For the 2nd time, I didn't say you said that. I said your statement that finance was a major where you could learn to make decisions and accounting was just for learning how to account for things was flawed. You CHILL out and admit you are wrong.
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  • khumdawnkhumdawn 102 replies6 postsRegistered User Junior Member
    Although in the introductory accounting classes, I love the material. It interests me how business's work, just as a doctor might be curious how the body works... I must be a mutant.
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  • WhatdidyouWhatdidyou 535 replies4 postsRegistered User Member
    dawgie, i dont know why your not understanding this.

    Accounting mostly deals with historical data, ex: recording stuff that has already happened. Finance deals with future data. Ex: forecast future cash flows and make decisions based on those forecasts.

    In my finance course, we are presented a case, with financials, and told that managment is struggling with making one or multiple decisions. We then analyze the financials (can involve forecasting cash flows or computing ratios, among many other things, and then suggest a course of action/solution to the issue(s), and back up our decision. I dont remember an accounting problem where I've been asked to help management make a decision - at least not as in depth or as often as in my finance class.

    Hence my statement, in finance courses you learn how to make decisions and that accounting courses generally you learn how to account for stuff. I stand by my statement, although there probably are exceptions for some topics learned in accoutning. Now, you admit that you are wrong.

    Since you're so hell bent on accounting being better than finance, an opinion I probably agree with - even though I enjoy my finance course better - Ill give you this. Most accounting majors DO understand f/s better than finance majors (i never said otherwise). I do find that I am better at the analysis in many of the cases than the finance majors, because I understand the f/s better. BUT understanding f/s and learning how to make decisions in the future are two different things. Finance mostly focuses on the latter but also, by necessity, focuses some time on the former. While acctg doesnt do the latter at all - or if it does, it barely does it - and thats why I'm enjoying my finance course.
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  • DawgieDawgie 1574 replies2 postsRegistered User Senior Member
    Whatdidyou, you are talking to a CPA and CFA Level 2 candidate, which blows anything joke course you have ever taken. You ever consider that a lot of the data used is someway related to financial statements? BTW, you can't make decisions on F/S if you don't have a solid understanding of them.

    You also seem to lack general reading comprehension. Where did I imply accounting was better than finance? Enjoy your weak finance courses all you want, while I study some real finance on the CFA. =/
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  • WhatdidyouWhatdidyou 535 replies4 postsRegistered User Member
    Impressive! Now, based on your credentials, you changed my mind. Accounting classes (I have taken quite a few, by the way) primarily deal with the future and making decisions! and definitely not with how to account for stuff!

    Really? You need an understanding of f/s to make decisions based off of them? Who would have thought? Thanks for enlightening me!

    I really struggle with reading comprehension. PLEASE correct me whenever I misread or don't comprehend something. I highly desire your knowledge and competencies and would LOVE your guidance. We can all learn so much from you!

    I am extreemly jealous. Can't wait till I take real finance courses and get to study for the CFA! Thanks for all your help. Please, please, stay on these boards and give us more of your highly qualified opinions.
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  • DawgieDawgie 1574 replies2 postsRegistered User Senior Member
    "Impressive! Now, based on your credentials, you changed my mind. Accounting classes (I have taken quite a few, by the way) primarily deal with the future and making decisions! and definitely not with how to account for stuff! "
    - Decisions are based on information that happened in the past.

    "Really? You need an understanding of f/s to make decisions based off of them? Who would have thought? Thanks for enlightening me"
    - No problem it seems like you think you can have a strong understanding of F/S without accounting. I'm glad we could straighten this out ::Rolls eyes::

    "I really struggle with reading comprehension. PLEASE correct me whenever I misread or don't comprehend something. I highly desire your knowledge and competencies and would LOVE your guidance. We can all learn so much from you!"
    - Be careful making bad inferences, such as Dawgie stating or implying "Accounting > Finance", when no such things were noted.

    "I am extreemly jealous. Can't wait till I take real finance courses and get to study for the CFA! Thanks for all your help. Please, please, stay on these boards and give us more of your highly qualified opinions."
    - You should be jealous.
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  • taxguytaxguy 6244 replies385 postsRegistered User Senior Member
    Children, play nice in the playground.
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  • Roger_DooleyRoger_Dooley 6084 replies100309 postsFounder Senior Member
    Back to the original question, I think the coursework varies a lot between profs and courses. I took multiple accounting classes during my MBA program. The first couple were taught by profs lacking charisma and the material itself was boring. When I was about to write off the field entirely, I started a managerial accounting class. The prof was lively, and he showed how to use accounting data to run a business. It ended up being one of my favorite classes.

    I'm not sure why so many accounting profs are deadly dull. Maybe if you are the swashbuckling type, you head for Wall Street instead of academia. Or, maybe my sample size was simply not representative of the norm.

    So, I'd say that yes, accounting classes can get more interesting after the early ones. Later classes deal more with specific applications of accounting.

    Nevertheless, if I found all my accounting classes really boring I'd think twice about a career in the field. A lot of the work is repetitive (monthly cycles, annual cycles, etc.) and there's usually a lot of solo work in front of a computer screen. That's not to say it's a bad profession, but it might not appeal to everyone. Internships or volunteer gigs would be a great way to get some exposure to the real life of accountants.
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  • jonahrubinjonahrubin 541 replies6 postsRegistered User Member
    You should take a look at the definitions of assets and liabilities before you determine that accounting is focused on the past.

    Roger, there is more solo work in front of a computer screen in finance than in accounting. I work in a finance type job(CFA is the credential that people are going for where I work) and all we do is sit in front of computer screens(maybe 60/40 Excel vs Word). My peers who went into auditing at least get to move around a little.

    Not everyone working in an accounting job has to do monthly closes, lol(see audit, tax, internal audit...)
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  • WhatdidyouWhatdidyou 535 replies4 postsRegistered User Member
    In contrast to my finance class, accounting is much more focused on the past/present and rarely touches on how to use the information to make decisions from a manager's perspective. But yes, accounting does also deal with the future at times. My point is that in accounting you generally learn about and how to record the data -for example: how to record assets and liabilities. In my finance course, we actually would use that data to make managerial decisions. And there is no doubt that managment uses accounting data to make decisions.
    I'm done with this topic.

    It is very interesting how f/s data is becoming more focused on useful/market values. As of right now assets BVs are pretty useless to investors. It will be cool to see if/when/how that changes in the future.

    As far as interesting accounting courses go, I really found the topics in cost accounting and advanced accounting (specifically, consolidation) quite interesting. I also liked alot of the courses in the financial accounting (intro and intermediate) courses and wish more time could have been spent on them. However if you dont enjoy your introductory courses at all, then you'll likely really hate the extreemly time consuming intermediate courses (usually there are either 2 or 3 of them depending on your University) and maybe should consider another major. Unless you had a terrible teacher or other circumstances.
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  • taxguytaxguy 6244 replies385 postsRegistered User Senior Member
    Don't forget that accounting can lead to many occupations, some of which can be more interesting than others. The stereotype of an accountant with thick glasses locked behind a screen all day doing mundane tasks maybe true for some fields and clearly isn't true for others. Accountants can be seen doing finance jobs, forensic work, testimony in court, auditing, tax planning, tax returns, writing memos, representing clients before IRS, making presentations to banks for client loans, consulting, setting up internal controls, preparing financial statements, and even giving advice on hiring, firing, and other managerial issues. I see accountants in all walks of life including those in top management and even CEOs.
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  • trizz75trizz75 624 replies4 postsRegistered User Member
    Going along with taxguy, studying accounting gives one a solid understanding of business and corporations. It is truly "the language of business." Thus, accountants can eventually take on most any upper-level corporate position given that the person excels and is passionate at what he or she does.
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  • angryengineerangryengineer 79 replies1 posts- Junior Member
    ^keep dreaming
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  • iTransferiTransfer 832 replies25 postsRegistered User Member
    For the 2nd time, I didn't say you said that. I said your statement that finance was a major where you could learn to make decisions and accounting was just for learning how to account for things was flawed. You CHILL out and admit you are wrong.

    I have to agree with Dawgie.

    Whatdidyou statements about accounting and finance is ridiculous.
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