Is accounting really as boring as people make it out to be :(? (1 Viewer)
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Silly Sausage
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Yes, it is boring.
No, it doesn't pay that well until usually you get your CA or CPA.
No, it doesn't pay that well until usually you get your CA or CPA.
seremify007
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Have a read of this thread which seems to cover the whole "is accounting boring?" question > http://community.boredofstudies.org...ing-accounting-finance-finance-marketing.html
nerdasdasd
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Shadowdude
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I have a few friends who have now graduated and are doing accounting. They seem to enjoy it.
astroman
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On the inside they are dead.
seremify007
Junior Member
Just to counter the somewhat negative sentiment here - it really depends on what you make of it. The marvel is with so many people in the profession there are very clear career progression paths (at least in the larger firms) which will help you get both breadth across various industries or specialisations before you start to focus on building depth in a particular area.
For what it's worth, I started off in audit originally but after doing a few secondments, have moved around a bit and am now in risk consulting. I also quite enjoyed auditing as it gave me a specific lens to apply to things and the opportunity to see how lots of different players in the market (both locally and abroad) tackle specific challenges whether financial accounting/reporting related, operationally or regulatory.
For what it's worth, I started off in audit originally but after doing a few secondments, have moved around a bit and am now in risk consulting. I also quite enjoyed auditing as it gave me a specific lens to apply to things and the opportunity to see how lots of different players in the market (both locally and abroad) tackle specific challenges whether financial accounting/reporting related, operationally or regulatory.
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Less boring then HR
I'm semi enjoying it!
I'm semi enjoying it!
mreditor16
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Wise Words, +1. OP, best to ask people in the field about what they enjoy about accounting to see whether accounting is for you.
seremify007
Junior Member
I'd also add one other thing- what you study in uni has very little relevance to what most graduates from the accounting degree will do in practice. The stuff which you learn in uni about teamwork, report writing/stakeholder management, dealing with the global community (I'm srs.), legal analysis of issues, understanding the basic concepts behind something (e.g. risk, capital, etc), understanding business activities/management accounting, building a framework for addressing a problem, etc... these are the things which actually work in the real world and add value.
The technical accounting concepts (e.g. debits and credits) are all automated in the real world - but if you don't understand them, you won't be able to figure out when something goes wrong, or how to best challenge them for unique situations.
An example - we learn in uni about discounted cash flows, how it works, how to calculate NPV, and do a valuation, etc.... but do you ever really learn how to determine what rate to use - from scratch? What discount rates could they potentially justify using which still meet the accounting standard requirements, whilst not deviating too far from their actuarial models?
Another example - a company is required under an investment mandate to get exposure to a specific country's real estate market but they cannot legally buy property in that market; what can they do and how can they structure the investment through trusts, legal entities, etc... to meet the mandate, regulatory requirements and ensure it doesn't create volatility in their accounting P&L?
The technical accounting concepts (e.g. debits and credits) are all automated in the real world - but if you don't understand them, you won't be able to figure out when something goes wrong, or how to best challenge them for unique situations.
An example - we learn in uni about discounted cash flows, how it works, how to calculate NPV, and do a valuation, etc.... but do you ever really learn how to determine what rate to use - from scratch? What discount rates could they potentially justify using which still meet the accounting standard requirements, whilst not deviating too far from their actuarial models?
Another example - a company is required under an investment mandate to get exposure to a specific country's real estate market but they cannot legally buy property in that market; what can they do and how can they structure the investment through trusts, legal entities, etc... to meet the mandate, regulatory requirements and ensure it doesn't create volatility in their accounting P&L?
ilikecats
Meow meow meow meow meow?
Uni is horrendously boring.
Work isn't bad though. As with most jobs its got good and bad days, but for a secure job with decent hours, pay and no real long term mental and physical effects, its good.
Also you learn theory at uni. Whilst a nice foundation, work is very different.
(I'm currently dead in the inside, but I chose full time work and study this semester. It's a sure way to literally have no life and be able to end a conversation after 10 minutes thanks to your live revolving around tax)
Work isn't bad though. As with most jobs its got good and bad days, but for a secure job with decent hours, pay and no real long term mental and physical effects, its good.
Also you learn theory at uni. Whilst a nice foundation, work is very different.
(I'm currently dead in the inside, but I chose full time work and study this semester. It's a sure way to literally have no life and be able to end a conversation after 10 minutes thanks to your live revolving around tax)
seremify007
Junior Member
That's when I became materialistic and bought a nice car (for a 21 y/o) to celebrate getting my full licence with the savings from not having time to spend.... but I'm trying not to steer the Op here into doing this for the money because for a lot of people, the money is decent but not amazing.
ilikecats
Meow meow meow meow meow?
I take holidays instead to feel cultured and such.
I then proceed to buy nice things on those holidays. I have no need for a kimono, but i sure as hell bought one.
I also have no hecs debt, but you know, when I graduate and have no debt and a bunch more money, I'll totally do something irresponsible like buy more shoes. I'd buy a car but I literally take a bus everywhere.
I'll just add; The money is decent. You can afford food/rent/mortgage and to have a few luxuries like holidays and cars without being overly stressed, particularly if you don't spend it on stupid things constantly.
nerdasdasd
Dont.msg.me.about.english
After a while , those luxuries like cars will kinda be meaningless tho?
Life isn't about materialistic goods at all.
When I started working corporate , I was initally happy that I made good money, but the lust for getting materialistic shit has disappeared and now I want more time with friends and family lol
(guess that'd apply to OP's case as well
)
ilikecats
Meow meow meow meow meow?
For sure! When you get your first full time job, suddenly having all this money is amazing.
After a while, you realise that money and things can't give you want you want. I've got a healthy savings account now, I think I spend less than ever on things, and I try to find more interesting things to spend my time (and money!) on.
Knowing you have savings is always a positive.
nerdasdasd
Dont.msg.me.about.english
You know where I am getting at ^^.
Yeah, the meaningful things (which don't necessarily have a money tag on them) .
matchalolz
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I'm not the most experienced person (hsc this year hue hue) but I have done a bit of accounting. It can be a bit dry at times, but I like using the skills needed for it. I also find it very logical.
As I was applying for cadetships, this was a question I threw at one of my interviewers and I really liked his response to it. It was along the lines of 'what you get out is what you put in' - like obviously if you go in with a really negative attitude that it WILL be boring, you probably will find it boring (and this applies to EVERYTHING, not just accounting).
Work seems a bit more exciting than just actual theory and textbooks themselves, like I'm personally really looking forward interacting and talking to clients, as well as like minded people interested in business. idk, though thats just me. #inb4ihateit
tldr: it really depends on the person, and also to the extent, your attitude
As I was applying for cadetships, this was a question I threw at one of my interviewers and I really liked his response to it. It was along the lines of 'what you get out is what you put in' - like obviously if you go in with a really negative attitude that it WILL be boring, you probably will find it boring (and this applies to EVERYTHING, not just accounting).
Work seems a bit more exciting than just actual theory and textbooks themselves, like I'm personally really looking forward interacting and talking to clients, as well as like minded people interested in business. idk, though thats just me. #inb4ihateit
tldr: it really depends on the person, and also to the extent, your attitude