Associates Degree in Accounting

Finance and accounting plays a major role in the success of organizations. Various accounting practices are used to manage the financial running of a firm. Accounting degree holders can choose from a range of accounting careers. Accounting jobs are among the most in demand occupations nowadays according to CCN Money Magazine. Accounting offers dynamic career opportunities as financial operations of today’s industry are becoming more complex, requiring the services of skilled accountants.US News & World report has listed accounting jobs among the Best 100.

Accounting degrees can lead to jobs in all kinds of banking institutions, private organizations, and federal agencies. One of the major reasons why more students are opting for accounting degrees is that the careers in this field come with plenty of room for advancement. Accounting can be pursued at undergraduate, graduate, post graduate, and certificate level.

Associates Degree in Accounting

Students who have completed their high school education and want to seek higher education in accounting can start off with an associate degree. This is an undergraduate program that can lead to entry and assistant-level jobs in the industry. Most students opt for associate programs to help build a strong foundation of knowledge and prepare for advanced studies ahead. In some states, an associate degree will be equivalent to the first two years of a bachelor program. Associates degree in accounting degrees are offered by many accredited colleges and universities.

What you will learn in an Associate Degree in Accounting

Accounting associates degree programs cover fundamental concepts and help students acquire basic knowledge of the field. Students will learn about accounting principles, payrolls, and how accounting methods affect the financial health of businesses. Although the curriculum of an associate degree in this field may vary slightly from college to college, some of the subjects that are most likely to be covered are:

Financial Accounting

This course provides students with knowledge about the basic rules and regulations of accounting. Students will learn how to interpret financial accounting information and understand the accounting system

Cost Accounting

Cost accounting covers the practices used for recording accounting information, classifying data, and reporting cost data. Students will thoroughly examine the methods used for budgeting, planning, and controlling.

Intermediate Accounting

This course is designed to increase a student’s understanding of financial accounting practices. Topics covered in the course include accounting cycle, closing entries, income measurement and profitability analysis, financial statement analysis, and cash flows.

Microeconomics

The study of economics is part of a number of accounting degree programs. The course examines the basic economic system and how resources are allocated to satisfy wants/needs. Focus is laid upon areas such as American Capitalism, consumer behavior, resource suppliers, and market structures.

Applied Statistics

Applied Statistics is a course that provides students with in-depth knowledge of statistical techniques used in businesses. The course will include topics such as distribution functions, hypothesis testing, linear regression, and sampling distributions.

Accounting Information Systems

In this course, students will learn how to use different accounting software and applications. The course will allow students to generate computerized financial statements, general ledgers, and reports. This course is typically covered in a learning lab where emphasis is laid upon practical learning.

Individual Income Taxation

In this course, students will acquire in-depth knowledge of federal income tax procedures, income tax laws, property transactions, and more. The course allows students to learn how to deduct tax and how to prepare individuals and sole proprietorship returns.

Business Management

Since many accountants work in business organizations, it is important for students to have a thorough understanding of the functions of management. The course will highlight basic business terms, management skills needed, importance of communications, and managerial decision-making skills.

Objectives of the degree program:

• Students will learn how to use and interpret financial statements
• Apply accounting methods appropriately
• Apply cost accounting principles
• Handle all kinds of payroll and billing systems
• Work within ethical boundaries
• Inspect and analyze accounting procedures

To successfully complete the degree, students are required to complete all the curriculum components. Each course will be the equivalent to a specified number of credit hours. Students must earn the minimum credit hours for program completion. This requirement will vary slightly from college to college, but will generally fall within the range of 60-70.  Before enrolling in any accounting degree program, students must check the accreditation status of the institute. Accreditation reflects an institute’s compliance with education standards in this field. There are a few accrediting agencies that oversee accounting education, these include:

• The Association to Advance Collegiate Schools of Business (AACSB )

All colleges have their own admission criteria. However, some basic admission requirements an applicant must fulfill include:

• High School Diploma
• Meet the minimum CGPA requirement
• Letters of recommendation

An associate degree in accounting degree can lead to a number of entry-level accounting jobs. Associate degrees are a great way to enter the financial sector. Here are a few job positions along with detailed information:

Job duties: accounting assistant or clerks are required to manage routine financial operations, maintain financial records, check figures and postings, and compile various financial reports.

• Source: O net Online (2013)
• Median annual income: $35,730

Job duties: These professionals are responsible for managing and recording employee payroll data. Duties also include computing time worked by employees, calculating deductions, leaves, and preparing paychecks.

• Source: O net Online (2013)
• Median annual income: $38,670