If you're thinking about becoming an accountant or working in finance, you'll likely have to take some accounting classes in college or on an accounting course.
Even if you like a challenge, it can help to know exactly how difficult the classes are before you sign up for them, especially if you're banking a lot on this being your future career.
Let's take a look at how difficult accounting classes are, what makes them difficult, some of the easier options, and the kind of people it takes to become an accountant.
How Hard Is It to Learn Accounting?
It's almost impossible to say absolutely how difficult something is because everybody's different and what's easy for one student may be quite simple for another.
What we can say is that the difficulty should be appropriate to the level at which you're studying accounting. If you're studying an accounting course at college as part of an undergraduate degree, then these classes should be more or less at a similar level to other classes.
Naturally, not all classes are made equal, and introductory accounting classes should be easier than advanced classes, but they should all be to a level that's more difficult than high school classes but easier than classes for master's students.
What makes your typical accounting classes difficult is the number of different skills that accounting requires. You need to have an excellent eye for detail and a good understanding of numbers.
How Long Does it Take to Learn Basic Accounting?
To answer this, it really depends on what we want to consider basic accounting. We could say that the fundamentals of accounting count as basic accounting and leave it at that.
For others, basic accounting might mean the least amount of study they can do to work professionally as an accountant.
For the first example, you could learn the basics of accounting in a semester as part of Accounting 101, Introduction to Accounting, or similar. In this case, you can learn basic accounting in a matter of weeks, but it won't be enough to work as an accountant.
On the other hand, to get an accounting degree, you'll need to spend 3 or 4 years studying a multitude of accounting, business, finance, and economics classes, but the benefits of studying accounting usually outweigh the time it takes to become an accountant.
How Hard is Basic Accounting?
Accounting is a complex field with a lot of intricacies, but the foundational concepts should be fairly easy to pick up for most students.
Again, it takes a good eye for detail to become an accountant and even your Introduction to Accounting class shouldn't be a walk in the park. The very first classes you take in accounting should provide a challenge but shouldn't be anything to lose any sleep over.
In your very first accounting classes, you're likely to learn about some simple accounting concepts, but if these are all entirely new to you, then there'll be a lot to learn.
For students who've already done a bit of accounting at high school, for example, then these introductory classes at college might be easier than expected.
The important thing to remember is that whether you find it easy or difficult, things are only going to get more difficult as you move on to more advanced topics in later classes.
The Hardest Part of Studying Accounting
It comes up time and time again, but many cite having an eye for detail as being the hardest part of studying accounting. Accountants are all about having an eye for detail and this is still required when studying the subject.
In some cases, it's more about just how much you have to learn rather than the complexity of the individual concepts that you're learning. Some students will have a hard time just remembering everything they need to know rather than actually understanding the concepts.
The best way to get around this is by being organized, paying attention in class, and going back over everything you cover in each class.
What Should I Expect in a Basic Accounting Class?
We've already mentioned that in an introductory accounting class, you'll learn the foundational concepts of accounting.
But what are they?
Some of the first topics covered will likely be things like revenues, expenses, assets, and liabilities. These are literally the ins and outs of accounting, with revenues being cash coming in, expenses being cash out, assets being things you have, and liabilities being the things you owe out. You'll also likely learn how to record transactions and basic bookkeeping.
It's common to learn about how to look at, read, and interpret financial information, though this is a skill that you'll develop in future classes and throughout your time as an accountant.
Which Type of Accounting is the Easiest to Get Into?
Every job has its tough days and accounting is no different, but rather than try to work out which accountants have life the easiest, let's see which has the lowest barrier to entry.
Entry-level accounting jobs are normally the easiest to get into because they require the fewest qualifications and years of experience. These can include bookkeeping roles and accountants focusing on a small number of transaction types.
For example, becoming a clerk is a role that's relatively simple to get into, though some would say this isn't an accounting job as some of these roles don't require accounting qualifications.
As for accounting roles that require accounting qualifications and accounting degrees, entry-level accountants without a particular specialization are the easiest roles to get into. Just be careful with these roles as without specialization, these jobs may offer little in the way of career progression.
Is Accounting a Stressful Job?
It's all well and good taking accounting classes, even the hard ones, but you'll likely want to know where these classes can take you and whether or not the stress of doing these classes will lead to a cushy job or even more stress.
Every job can be stressful and accountants certainly aren't an exception to the rule. In certain cases, the role of an accountant can be quite stress-free. In many other ways, an accountant needs to regularly keep an eye on a lot of sensitive information, go through it with a fine-tooth comb, and make sure that they don't make any costly mistakes.
This can definitely lead to stress, especially when huge sums of money are at stake, but just remember that this isn't always the case, and while the majority of accountants have reported feeling stressed at work, many find their jobs very rewarding and enjoyable.
What Is the Most Stressful Part of Being an Accountant?
There are a few things that accountants can find stressful, but a lot mention that staying on top of the various accounting standards and ensuring their accounting is in line with the appropriate legislation can be really tough.
Which is the Most Important Accounting Standard?
There are a few accounting standards and when you study accounting, you'll likely be introduced to several of them.
It's impossible to say which is the most important because it will depend on which one you need to use in your accounting job.
The two main accounting standards to be aware of are GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). The key difference between these two is that the GAAP are used in the US and the IFRS are used internationally.
Companies based in the US and operating within the country will likely adopt the GAAP whilst companies from other countries will probably need to adhere to IFRS or another local standard.
What Type of People Should Be Accountants?
There are certain qualities that every accountant has and you'll need to have them if you want to become one.
We can't stress enough how important it is that you have an eye for detail.
It's also important that accountants are organized. There are a lot of things to stay on top of and while you study accounting classes at college or take an accounting class, you'll quickly see that if you're not organized, you won't make it.
You'll need to be meticulous, focused, and driven, as it will get difficult and these qualities will help you to make it through your accounting classes.
How Much Do Accountants Earn?
This is an important question that everybody wants to know the answer to, especially if they're considering studying difficult or advanced accounting classes. After all, the difficulty will be worth it if the salary matches the work you have to put in.
The median salary for an accountant in the US is $77,250, but this amount varies in terms of specialization and years of experience.
You won't likely earn this amount straight out of college, but the lowest-paid 25% of accountants are making a median salary of $60,760, which isn't the best salary in the world, but it is above the average of $47,000 earned by college graduates.
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