Accounting question from a very confused student?

Question

I am a student rushing through college, yeah I know I should stop that really. But my gpa is now low and I would like to know how can I still be able to work for the big 4. Also just because I do not work for the big 4, does that mean I will not be able to make the big money? My last question is... do accountants go back to school for a degree RELATED to accounting? Or do they just graduate with accounting degree and get a CPA and start raking in the huge bucks. I hope this question will be seen by some. I am just a confused student right now.

Answer 1

Accounting is more then just numbers, although that is a big portion of it. Utilizing the numbers in such a way as to increase profits, decrease expenses, determine if capital improvements are justified, etc. is part of the equation. Big bucks is variable. There are many avenues to pursue to get the "Big Bucks", what is right for you may not be for someone else. If your GPA is low then start studying and paying attention in school. The things you learn there will be with you the rest of your life as well as both the good and bad habits you develop there.
The steps to becoming an accountant are pretty simple, go to school and accounting along with the other business courses that you will need. Start interning at an accounting firm. Learn how to do the various things that you have studied in school and apply them to the business world. Eventually you will have the chance to sit for the CPA exam, each state is different but they all require a thorough working knowledge of accounting. Once you have completed and passed the CPS exam you will now have the status of CPA but not the experience. This is where you will also start to see increases to your salary. The longer you work the more you will make, eventually you may want to go off on your own. Then you will have the advantages and disadvantages of owning your own business. Nothing is gained by wishfull thinking. So the root advice here is sit down, open the books and learn. By the way CPA's have to continue their education either with course work or CPE credits. So the learning is never done.
Now on a personal note I graduated in 1976 with a BSE, worked for 30 years and then went back to learn accounting starting with the community college. I am still in school and loving every second of it. I only regret that I had not done this 30 years ago.

Answer 2

I don't think you'll rake in the big bucks working as a CPA, unless you aspire to be an Audit Partner, Corporate Controller or CFO some day. You need to know finance in addition to accounting to get to those levels of management. You would probably also need to get an MBA. More importantly, if you really don't like accounting you'll never do well in the field and you won't be financially successful in it.