Is Accounting Even Worth Learning?

Yes, Yes it is. Everyone should take an accounting class, at least once in their lives. But not for the reasons you think.

Look, I don’t know about you, but as a Marketing major, I absolutely dread the idea of accounting.

I mean who wants to drill numbers into their head on excel spreadsheets all day?

You do? Then count me out!

Which brings me to my point: Is accounting even worth studying?

Let me start out by saying that I’ve only taken one accounting class at Stony Brook University in New York. I took financial accounting, a must-have for my Business degree.

It was a completely online class so forgive me if I’m a little biased. But seriously, is taking an accounting class even worth it?

My answer? Yes, Yes it is. Everyone should take an accounting class, at least once in their lives. But not for the reasons you think.

Here’s why…

Why Accounting Isn’t Worth Learning

Reason #1: You’re a Creative Person

I hate to break it to you but there’s only so much creativity that you can get out of crunching numbers.

Hey, to some people accounting is innovative and creative but honestly, I don’t see it.

If you’re like me and you’d rather create than compute, accounting is going to be hell.

When I started my accounting class I had an open mind. After all, accounting is an important profession and a crucial part of every business.

But once I saw the balance sheets, income statements, and retained earnings statements I’d have to submit my heart sank.

You know that gut-wrenching feeling of boredom and stress you feel when doing a task that you hate?

That was me.

Or at least that was me. But then something changed.

Reason #2: You Prefer the Big Picture

To me, accounting is small picture work, at least it was.

If you like to see the bigger picture (the forest for the trees so to speak) you could care less about learning accounting.

When I picture accounting I picture data entry and insignificant existence. Why would anyone in their right mind devote themselves to such a boring subject?

After all, accounting is about plugging numbers and making sure the tedious little details are in order, right?

It certainly seems so at face value.

If you’re anything like me you’d much rather spend your time brainstorming new marketing strategies or discussing product design.

There doesn’t seem to be much use in accounting, especially when you know there are thousands of people that can do it way better than you can.

Accounting as a profession isn’t for people that like big picture thinking, it’s way too detail-oriented and input based.

But maybe that’s exactly why every business student should study accounting…

Why Accounting is a Must, Especially for Devoted Business Students

Reason #1: You Need to Check Yourself

The first thing that I realized when I started my accounting class (after brutally procrastinating) is that accounting works on the principle of checks and balances.

Everything has its place and every place needs to match and equate perfectly.

If one thing is off everything suffers.

Let’s say that you made a mistake calculating your expenses on your Income statement. That’s going to reflect on your retained earnings and will come to bite you in the butt on your balance sheet.

Even though each of these financial documents is complete on its own they work together to form a cohesive unit.

Don’t like to check their work? (or edit your blog posts!)

You need to take an accounting class.

When you’re accounting you have a lot of time to contemplate the meaning of your existence.

Sure accounting isn’t exactly bustling with creativity, you’re putting numbers on a page. But that leaves a lot of room for checking yourself and realizing how many mistakes you’re making on the way.

There is an infinite amount of wisdom in checking your work AND adding more value as you go along.

Accounting showed me that checking your work is crucial as a marketer, a finance major, or even a philosophy extraordinaire.

Check yourself and see that your work agrees with who you are and aligns with your values.

Reason #2: Personal Finances Are Crucial

Do you spend too much money on Starbucks?

I know you’re guilty of having a Netflix, Hulu, and Crunchyroll subscriptions (ouch, got myself there).

Personal finances are a crucial skill to develop, especially as a broke college student.

Every $1 that goes in and out of your bank account or wallet should be traced and tracked.

Are you someone who holds onto receipts? Are you someone that counts every penny and traces where the money goes?

Yeah, neither am I. And that’s why accounting has been such an eye-opener to me.

If you need a refresher course on managing your basic personal finances then take an Intro to Accounting course.

I promise you won’t regret it.

Reason #3: It’s Actually A Lot of Fun

You know the feeling when you organize your room or desk just right?

Like last Sunday when you doubled down and organized your colored highlighters perfectly?

No? Just me?

I’m sure you’ve experienced great joy cleaning or organizing something in your life (for me it’s got to be the fridge!)

Well, accounting gives you the exact same feeling of satisfaction.

Done correctly, accounting needs equality.

That means that your balance sheet needs to match your journal entries, and those journal entries need to match up your assets, income, and expenses.

It can be frustrating to plug in numbers and make calculations for 30 minutes on a Saturday but the payoff is well worth it when you finish.

Even for me, someone who would much rather practice Martial Arts over learning Calculus, Accounting is very satisfying if you do it right.

Especially the basic stuff.

Accounting is a pivotal skill for entrepreneurs.

Reason #4: Accounting is Crucial for Entrepreneurs

No, you don’t need to be a math wiz or a financial genius to be an entrepreneur that brings value and change to the world.

In fact, you should outsource most of your accounting work to a professional when you can.

But that’s the key isn’t it when you can.

If you’re starting out there’s a high probability that you don’t have the means, money, or network to hire an amazing accountant.

Even if you could, there is unique value in knowing how much each and every element of your business is costing you.

Keep tabs on your finances and your finances will keep you in check.

Conclusion

As someone who loves to spend it and forget it accounting has been difficult for me.

It’s even worse as a creative person who likes to think of things in big picture ideas.

But after grueling through a summer semester of accounting, I’ve seen how valuable it’s been to me as a marketer and a future entrepreneur.

So, should you take accounting?

Yes, Yes you should. At least once.

Thanks for reading!

Chris Chan