/biz/ - Business & Finance

[Anonymous No.275902]

Should I go into Accounting?

[Anonymous No.275905]

It will ruin your life. Instantly.

[Anonymous No.275908]

the common accountant will be replaced by computers in a few years

[Anonymous No.275913]

>>275911
its computers, i ain't gotta explain this shit

[Anonymous No.275911]

>>275908
Why?

[Anonymous No.275914]

>>275905
How?

[Anonymous No.275916]

>>275908
I like the accounting threads, because you can always tell who the literal retards are.

>Hurr durr accounting just debits and credits hurr.

Implying that computer programs can do tax planning or auditing.

[Anonymous No.275918]

>>275916
programming algorithms, logic and reasoning and kind of taking off bro

[Anonymous No.275919]

>>275913
Lel

[Anonymous No.275922]

>>275916
>implying finance majors aren't more efficient at tax planning
>implying all accountants are auditors
the only accountants that'll matter in the future are chartered accountants

[Anonymous No.275930]

>>275922
>Finance majors
>More efficient at tax planning

[Anonymous No.275932]

>>275918
When's a computer going to represent me before the IRS? How about run an internal control audit on a multinational corporation to find fraud weaknesses? When computers replace accountants they will already have replaced lawyers, doctors, and people making meaningful posts on 4chan.

[Anonymous No.275938]

>>275932
its computers, i ain't gotta explain this shit

[Anonymous No.275940]

>>275922
>>275918
Do you even Sarbanes-Oxley, bros?

It is literally impossible to not have human accountants. But I'm guessing you NEETs are so disconnected to the real world that reasoning with you is impossible.

[Anonymous No.275950]

>>275938
>Can't respond.
>It's b-b-because of, um, ah, c-computers. Y-yeah, that's it. Computers. They c-c-can do anything.
>Hurr durr, I'm right, you're wrong.

[Anonymous No.275954]

>>275950

>arguing with a computer

[Anonymous No.275955]

>>275950
lol

[Anonymous No.275964]

>>275940
>It is literally impossible to not have human accountants.

How? I'm not sure who to believe anymore. Which one of you are right?

[Anonymous No.275970]

>>275930
and they are more efficient. you've obviously never been in the field.

>>275940
>business policies never change
you're an idiot

[Anonymous No.275980]

Even if the .05% chance that computers replace accountants becomes a reality, who will create/maintain/work with those programs? Who will interpret and act on those results? Oh, that's right, accountants. Either way, I've already leveraged this by studying accounting with a concentration on information systems so the Jews will see me as valuable, even though I won't know any more than the avg accountant.

[Anonymous No.275998]

>>275970
Sabarnes-Oxley isn't changing for a long time after all the financial messes of the late 90s/early 00s.

[Anonymous No.276008]

>>275964
These people literally have no idea what they're talking about.

I can't speak for other countries, but in the US, the Sarbanes Oxley Act pretty much guaranteed the accounting profession because:

1) Companies can get into big trouble if they don't keep keep accurate records of accounting. Guess who processes and interprets these results. Oh yeah, internal accountants.
2) Companies are required to get outside auditors opinions on their financial statements. Guess who these auditors are. Oh yeah, external accountants.
3) Companies are required to have their internal controls audited. Guess who these internal control auditors are. Oh yeah, external accountants.

Not to mention fields in tax planning and (if worse comes to worse) operations management and book-keeping.

[Anonymous No.276122]

>>276008
no. first of all, youre throwing around "sarbanes-oxley" as if it makes you sound like some kind of expert or something. i learned about sarbanes in grade 11, it had huge implications at the time and to this date. but it doesn't matter if some software is made that can execute all the same procedures that accountants go through. and it sure as hell didn't stop bernie. sure there might still be a need for some accountants but drastically less because one would need only to analyze accounting data that can be converted from its database. accounting was my first career choice and i took classes up to managerial accounting and aced them easily because it's strictly memorization. but i realized that it's job market is 1)highly saturated, which means a low starting pay 2)now easy to duplicate by software. sure, there's a need for internal accountants to interpret their firm's revenue, costs, dividends, rates etc. large corporations have entire a/r a/p departments. it's only a matter of time before they shrink their accounting costs. only 1 or few accountants will be necessary. small companies won't even need accountants once software becomes the norm. you can expect a massive decline of jobs for internal accountants. and guess who comprises 90% of the accounting field?

[Anonymous No.276131]

>>275902
Only if you fuck off and stop making this terrible thread 5 times a day every day

[Anonymous No.276155]

troll/10

[Anonymous No.276171]

>>275908
the "common accountant", yes. At least at the entry level where people are just mindlessly pushing numbers in a computer. I wouldn't doubt Businesses would require Accountants to have at least 2 years of non-pay internship experience of just crunching in the numbers. They could pay computers to do basic Accounting and theirs no way they'd continue to pay monkeys.

But the more advanced levels of Accounting feature Analysis, and the Analysis of these numbers in Accounting will continue to exist and grow for the next 30 or so years. That's wear the future of Accounting lies.

In Analysis.

[Anonymous No.276231]

>>276122
Actual SOX consultant here. What you are saying is correct to a certain extent. However, internal audit departments will always be necessary with large publicly traded companies especially near quarter and year end when they have to file earnings reports with the SEC. These people are CPAs. Not only does Internal Audit have to monitor and remediate internal controls that relate to best business practices they now also have to deal with SOX key controls that relate specifically to Sarbanes Oxley compliance. Evidence gathering is a manual process and can not be performed by a computer system.

Not only that but because of all the new laws and regulations there is an influx of fresh accountants needed at the Big 4 as external auditors spend sometimes months out of the year at one fortune 500 company ensuring that they are SOX complaint. They send junior auditors with one audit manager. These are usually young kids most of them fresh out of college.

[Anonymous No.276237]

[Anonymous No.276250]

>>275902
It's the most boring job known to man.

In a few years you'll be a soulless drone.

[Anonymous No.276264]

>>276250
I already am soulless. Just want money. And I don't really want to do Engineering or CS or Law or medicine or whatever.

[Anonymous No.276277]

>>276264

I'm doing accounting in school. The studying sucks, so I always just put it off till night of a test and somehow manage an A every time.

[Anonymous No.276285]

>>276277
Sounds great.

[Anonymous No.276398]

>>276250
>implying your job is your entire life.

It's almost as if you don't have any friends or hobbies...

[Anonymous No.276423]

>>276122
Read >>276231. He pretty much said it all.

[Anonymous No.276428]

>>276285
He's probably in the introduction to financial/managerial classes.

The real accounting classes are not that easy.

[Anonymous No.276441]

Intermediate Accounting is 3x harder that principals classes.

Covers pensions, investments, taxes, all the goodies.

[Anonymous No.276820]

just took my intermediate financial 2 midterm today.

Fuck pension benefits
fuck stock splits
fuck property dividends
fuck dta and dtl
fuck valuation
and fuck that pbo spreadsheet fill in the blank sudoku bullshit

still crushed it but I must have spent 50 hours studying for that fucking bullshit

[Anonymous No.276899]

>mwf finance major taking my university's first Derivatives class next Fall
>mfw CFA level 1 in Dec
>mfw PM in my future

silly goyim

[Anonymous No.277235]

>>275922
>Finance kiddies
>Better tax planners

[Anonymous No.277255]

>>275902
I would say no.

Accounting is becoming a profession that is getting replaced by computers.

In 20 years MIS will have replaced nearly all of accounting. It will still be there, but it will be computerized. There will be no need for a 6 figure salary doing a job that a 100 dollar a month software will do just as well.

[Anonymous No.277458]

>>275922

Finance major here.
we don't fuck with taxes to the level that accountants do. our main focus is money management through proper asset allocation, risk management, and returns analysis.

not tax prep or tax advising.
if someone were to ask me who i'd trust more a CPA or a CFA with taxes I'll go with the CPA. On the other hand if someone were to ask me who would a trust with managing my investments I'll go with the CFA

[Anonymous No.277602]

>>277255
It's also becoming the "go-to" safety job, which creates more supply than there is demand.

Depends on where one lives though, as there is plenty of opportunity in a whole lot of towns/cities - but if one is trying to be an accountant in any of the major cities/neighbouring cities, you might as well just stop and be a prostitute.

[Anonymous No.277657]

CPA and CFA candidate here
working in an international firm
ask me anything

[Anonymous No.277856]

>>277657
What did you major in?