do you have to get a degree to do accounting for a small business?
do you have to get a degree to do accounting for a small business?
My husband owns a small business with 11 employees. We were thinking I could go to school for accounting to help out. Would I have to have a degree or would a trade school be enough? Could I just have someone train me how to do it or is there some sort of law that says I have to have a degree or certificate? Is it so hard that I would need school behind me? I'm a pretty fast learner.
Answers:
kemperk: I get his query about 15 times a year; it is WONDERFUL that spouses like to help either other in biz.
I suggest, instead, you help him out in marketing, not in accounting. It is better if he
finds a sharp CPA in town, one who can advise as well as do the "books" and
while he-she does that--you make sure your family business is the best known one in your town!!!
2010-11-10 11:17:06
2010-11-10 11:17:06
WRG: You don't have to have any sort of certificate or degree to do the accounting for your own business or one that you are employed by.
That said any business should outsource as many of the the things that don't make money for the company as they can. Have payroll done by a Professional Employer Organization or payroll company. Let the books be done by a CPA.
And you find a way to help that actually makes the company money.
2010-11-10 11:31:12
2010-11-10 11:31:12
Ginger: If you are just going to do this for your hubby's company, then I would say that just a certificate would be acceptible. You wouldn't need school at all if you could find your answers online or have a mentor. School is always best, dont' get me wrong but if you don't intend to seek employment elsewhere, then on the job training is adequate. Just work with an accountant on the tax end for a couple years so you make sure you don't mess that one up.
2010-11-10 12:34:26
2010-11-10 12:34:26
Chosen Answer
Fernando: You don't need a degree for accounting, but since you may not have as complete knowledge as someone who has a degree in accounting, if you make a mistake, then you are liable and there could be more problems with that, and also if there are things you are unsure about once you reach what YOU consider "acceptable" then what would you do? If you don't know and you aren't able to find the answer to the problem or something else goes wrong, then you can potentially bring down his business. Plus I'm sure your husband probably invests some of the money that he has within his business that is not in use, And I'm not sure if you would know how finding out income tax on all of that would be and a whole lot of other problems. Are you sure you would want to take that risk?? Business is not something you would just play around with, you have to be absolutely sure about what you are doing and not just think you can get by, by doing minimal work. It's great that you want to help out, but finding a way to help his company grow with new ways to advertise or get his product out there would mean a lot more to him then the accounting portion. Finding a certified accountant is most likely the best option. Being a fast learner may not mean much, you'd have to understand everything and apply it, not so much learn it.
2010-11-10 12:54:24
Fernando: You don't need a degree for accounting, but since you may not have as complete knowledge as someone who has a degree in accounting, if you make a mistake, then you are liable and there could be more problems with that, and also if there are things you are unsure about once you reach what YOU consider "acceptable" then what would you do? If you don't know and you aren't able to find the answer to the problem or something else goes wrong, then you can potentially bring down his business. Plus I'm sure your husband probably invests some of the money that he has within his business that is not in use, And I'm not sure if you would know how finding out income tax on all of that would be and a whole lot of other problems. Are you sure you would want to take that risk?? Business is not something you would just play around with, you have to be absolutely sure about what you are doing and not just think you can get by, by doing minimal work. It's great that you want to help out, but finding a way to help his company grow with new ways to advertise or get his product out there would mean a lot more to him then the accounting portion. Finding a certified accountant is most likely the best option. Being a fast learner may not mean much, you'd have to understand everything and apply it, not so much learn it.
2010-11-10 12:54:24
MannyHosea: That's why Accounting is called an art...You are performing accounting in your daily lives, counting money, budgeting, etc., You only need to know some basics of classifying assets, liabilities and capital, and thus recording to appropriate categories of accounts like cash, receivables, liabilities, capital etc. Accounting is trasactional and analytical in nature. You can have some tutorials but not a degree or profession. If you want to apply it in your own business then you can, but not as profession.
2010-11-10 17:31:05
2010-11-10 17:31:05