The Benefits of Accounting Classes for Business Owners

Accounting is an important element of every business. We need accounting professionals for proper payroll management, bookkeeping, tax compliance, and financial filings. Accounting skills are always highly sought within the business world. Employers typically place great value on potential hires who have a background in business and accounting. As an employer yourself, an accounting background can also be highly beneficial to you.

Thanks to their versatility and value, accounting classes are always a popular choice for those looking to advance their careers. Whether you already own your own business, or you are an entrepreneur looking to kickstart your ideas, you may be looking for an accounting program that can help you reach success. Even if you have years of experience or prior college education, there is always something new to be learned, and skills to be honed, in accounting. Read on, as we highlight some of the top benefits (and potential outcomes) of accounting classes for business owners.

1. An Accounting Degree is Flexible

As a business owner, you may be thinking, “How can I possibly go back to school?” You may be thinking it’s too late for college courses, or that you don’t have the time while running a business. The truth is, accounting programs can be quite flexible—and going back to school for accounting, as an adult, is easier than you might think. In fact, one of the biggest benefits of pursuing an associate degree in accounting is that it doesn’t need to take years in school. And it can get you the skills you need to succeed.

An associate degree in accounting typically takes two years to complete. At Goodwin’s accounting school, however, you can complete your degree even faster through accelerated coursework. Goodwin also offers day, evening, and weekend classes so that you can tailor your schedule to your professional and personal needs. Our student body is made up of other, already-working adults like you, with almost 70% of students being age 25 or older.

2. It Will Support Your Working Knowledge

An associate degree in accounting can supplement your already well-established background and education. This is another reason why many adults who already own their own businesses decide to return to school. Just like you, they are looking for practical and applicable skills in order to boost their company. Some examples of these specific, usable skills that an accounting program can offer business owners include:

• Attention to Detail – A decimal in the wrong place can mean an overdraft of your business account or a severely underpaid (or overpaid!) employee.
• Bookkeeping – Managing your company’s outgoing and incoming funds can be overwhelming, but with solid bookkeeping skills you can stay on top of it.
• Microsoft Excel – Accountants are masters are keeping spreadsheets and important financial information organized in Microsoft Excel. This is a valuable tool that will work for you for years to come.
• Organization – Of course, keeping all of these budget and financial documents in order can be the biggest hurdle to overcome. Accounting teaches practical methods for keeping these things organized.
• Taxation – It may seem a bit obvious, but not all accountants work directly with taxes. But understanding taxation can be a make-or-break when it comes to owning a business. When a business fails to file taxes properly, they can become obsolete and file for bankruptcy within a year. Goodwin University offers accounting majors a Principles of Taxation course to help students navigate this tricky world.

3. You Will Also Build New Skillsets

At a career-focused school like Goodwin University, it is easy to up your game in the business world. Accounting students gain real-world knowledge and skills that are always in demand. Graduates go on to enjoy successful careers in which they can:

• Achieve professional certification in bookkeeping, QuickBooks and Microsoft Excel.
• Create professional financial reports and analysis for users of accounting information.
• Develop awareness of professional and ethical issues facing the accounting industry.
• Develop critical thinking and problem-solving skills by identifying, gathering, measuring and summarizing financial data.
• Integrate and apply technological skills to accounting and business problems.
• Organize, analyze, summarize and report financial data in an ethical manner through knowledge and application of accounting concepts and principles.

4. You Will Be Better Prepared for the Future

Another benefit of accounting classes for small business owners is, of course, setting yourself up for future success, even outside of your current business. Of course you want to see your current business — or dream business — model succeed. But the business world is a highly competitive one, and it is constantly evolving. With an accounting degree in hand, you will be prepared for whatever challenges come your way — whether that be increasing competition or macro-economic hardship. With an accounting degree, you will be able to take on many accounting tasks (such as payroll and accounting) in-house and save on external costs. As an alternative, you will also be suited to apply for a number of in-demand jobs should your path change, as well as better prepared to launch your next business down the road.

Are you ready to build a successful business, or get even closer to your professional goals? Learn more about the Associate Degree in Accounting at Goodwin University. Call 1-800-889-8232 or visit us online to request more information.