Matthew P.





Would having a degree in accounting be beneficial if I am interested in becoming an entrepreneur?

Would really like to have my own business one day. #futurebusinessowner

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Yes. It is impertinent to you and the success of your business to understand the financials. Do you want to go in owning your own business without knowing how money comes in and out? Having that kind of knowledge will help you no matter where you go, whether you start or work for someone else. Taxes in this country are complicated. It will work well to your advantage.
Last updated 2 days ago

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I know a few people who have run their own small businesses, and accounting will definitely help and save you some money on paying for an accountant. However it's not the only thing you'll need as a successful entrepreneur. It may be worth looking at some form of business studies course that includes accounting, but also covers marketing, sales, perhaps some law, personnel, customer service, project management, and communication and negotiation skills. There are many facets to running a small business, accounting is only one of them.

Of course, if you want to set up a small business as an accountant, then you'd definitely benefit from studying accounting and have some of the other skills as electives or outside study.

Last updated Mar 17 at 19:02

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Having a background in accounting is always useful regardless of which career path you take. I would highly recommend taking at least an introductory accounting course to have a basic understanding and if you enjoy it continue with it as a a degree. Other beneficial degrees for an interest in entrepreneurship would be economics and finance.
Last updated Sep 29 '17 at 18:59

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As a CPA and someone with a degree in accounting, I am biased, but I believe it is very important. Accounting is the language of business. It is how business are measured for success (or failure). It is what allows investors to compare businesses and assess continued investment. As an entrepreneur, you will likely seek investment from outside sources, and these investors will want periodic reports of how the business is doing. So if you want to be a successful entrepreneur, I highly recommend an intro course in accounting!
Last updated Dec 07 '17 at 12:16

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