Why is accounting so important? In today’s economy, accounting is everywhere. Accounting information directly leads to fluctuations in the stock market. To reduce accounting cost is one of the main reasons for corporate outsourcing. The government relies heavily on accounting information in collecting taxes. Scandals such as Madoff and the Enron are a result of accounting errors and manipulations. No matter the location, size or industry of a business, accounting is a common language worldwide. It processes financial information and reports the results such as revenue and profit. It documents costs, which is essential in business decisions such as pricing and expansion. Apart from collecting and analyzing information, accountants interpret and communicate complex business information with investors, creditors and government agencies and also are the guardians of the integrity of firms’ financial statements.
Due to the consistent and strong demand for accounting professionals, accounting graduates have always enjoyed much popularity among the employers. According to the 2016 National Association of Colleges and Employers survey, the overall average salary for college graduates in 2016 was $50,359, while those graduating with an accounting degree averaged $53,539, and those with a finance degree, $55,974. The Clarkson program prepares you to sit for the exams that qualify you to work in more advanced settings. Those who have the certification of Certified Public Accountants have a median salary of $73,800, with top salaries around $124,000.