What are advantages and disadvantages of accounting?

Answer 1

Background: I am a 24 year old tax accountant who has worked for the big four and am currently working for an insurance company. PROS * Very good salary and benefits; ability to live independently without scraping the bucket. (i.e. I am 24 and earn $64K). * Work with facts, rules and numbers; minimal creativity necessary (if you like that). * Excellent job security, regardless of the economy or location you are in. * Work is generally routine and objective. CONS * Complex regulations to have to work with and abide by. * High potential for human error; must be very detailed and careful. * Occasional overtime required (Excessive overtime required at a big four firm). * Not much of a fun factor. Conclusion: Accounting is a good field to get into if you have a high aptitude for mathematics, detail and following strict rules and regulations. My overall rating for accounting as a profession: 8/10. Great field if you want excellent job security and great pay.

Answer 2

ADVANTAGES:

>Provides financial information about the business

>Provides assistance to management

>Helps in comparison of financial results

-comparison of its own results of different years

-comparison of financial results with other firms in the industry

>Helps in decision making

>Accounting information can be used as an evidence in legal matters

>Helps in valuation of the business

DISADVANTAGES:

>Accounting ignores non monetary transactions

>Accounting information is sometimes based on estimates which may be unrealistic

>Window dressing may lead to faulty results

> Accounting information can be manipulated and thus can no be considered as the true test of performance

Answer 3

Positive - You can make good money initially. Negative - Once you have twenty years of experience - every open job is looking for someone with 1 - 3 years of experience so that they can pay you less.

Answer 4

what are the advantages and disadvantages of accounting?