How I Utilized My Accounting Degree

Accounting was a great degree to get in college because it has such a wide real world application. I have been an accountant, chief financial officer, vice president of operations, president, stockbroker, insurance agent and small business owner. Currently I am a small business owner with my wife in Roswell, Georgia.

Advantages of a Small Business Owner with an Accounting Degree

As a small business owner I wear many hats. My understanding of accounting enables me to do financial reporting and management applications of that information. For instance I knew how to setup the business myself saving hundreds of dollars. My ability to understand things such as the best business entity to setup, how to file tax forms, filing of information, classifying information, how to read financial statements and balance bank statements has enabled me to move forward quickly with the assurance that I have done it correctly.

Budgeting is another onerous task that makes being a small business owner successful. Most small business owners finance everything from credit cards. I on the other hand realize that debt is only used to grow your business so it can be paid back. My wife and I have used cash flow to capitalize our business. Using my knowledge of banking enables us to get the best rates and least expense for the business but no debt is the best way to start.

Taxes can be very intimidating for a small business owner. But having full knowledge and understanding of all taxes applicable to our business and to us personally has helped in setting up the business and being able to pay our taxes on a timely basis avoiding penalties and interest.

A College Degree is Only the Beginning

The whole purpose behind a college degree is to understand how to solve problems in a particular discipline. It's the application of that knowledge that helps a person benefit from the time spent earning that degree.

You must be creative and persistent to get by in this world. By finding ways to apply your knowledge introduces your creativity as a means to profit makes an employee a valuable asset to the business. But even more important is the tenacity to continue to strive to find new and better ways to accomplish task and goals is what education is all about.

I have always been amazed at the resources I can call upon in order to solve problems and streamline systems to ensure the profitability of any business. I started as a $14 dollar an hour call center employee who eventually became president of a subsidiary by calling on those resources I gained from my degree.

So no matter what you got your degree in you need to ask yourself if you have used what you learned to the fullest enabling you to be successful.