Accounting is an important industry that is vital to many areas of business and finance. Accountants can find numerous jobs with businesses and the government, and many accountants choose to run their own office or work as freelance public accountants and consultants. When thinking about a minor to accompany your accounting major there are several factors to consider. There are also in-demand skills for accounting jobs that are not directly related to accounting. Consider carefully all of the options, and depending on your situation, choosing two minors may be appropriate.
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This is considered to be one of the best choices for minors, especially if they plan to work for international corporations or the government. The exact choice of foreign language may depend on what company you are looking to work for, but Asian languages, such as Chinese, Japanese and Korean, tend to be the most marketable.
Finance and accounting go hand-in-hand, and some encourage students to actually double major in accounting and finance. If you choose not to double major, which can lengthen the time required to get your degree, then minoring in finance is the next best choice. A minor in finance gives a broader range of knowledge about business and how money works.
A minor in business or administration is another good compliment for an accounting degree. Many accountants work for businesses in some capacity, and this minor provides the necessary skills to excel in the field. Business skills may qualify an accountant for a higher-level position in a company once they have some experience, and business managers will appreciate their accountant having a business background.
Legal Studies, History or English
This is a career-minded choice. If you plan to take your accounting degree to law school and go into business or tax law, then a background in legal studies or language is a good fit. Those interested in accounting tend not to be the best writers, but writing is extremely important to the legal profession, so sharpening these skills is important to your success.
Statistics or Calculus
Accounting is a math centered field, so getting an extra boost in your math skills, especially statistics and calculus, can only help your overall skillset.
Philosophy or Other Interest
Remember that a minor is not always meant to directly support a major. Many students use their minor to pursue a secondary interest in an unrelated field. Even if you love accounting, it can be a tedious and uncreative career. Even the best accountants aren’t typically number-crunching robots that need nothing else to feel fulfilled. Feel free to use your minor for something you are interested in but can’t devote a full degree of study to.
The Time Requirements for a Minor
Declaring a minor means that you are essentially adding additional classes onto your degree. Colleges and minors vary in the exact amount of credits required to complete the minor, but the average is 18-20 additional credits. This usually amounts to about one additional class each semester for a bachelor’s degree. This is quite doable for most students, and even declaring two minors will probably not lengthen the time it takes you to complete the degree if you are a full-time student. If you are a part-time student, taking only a few classes at a time, then consider how quickly you will be able to complete those additional credits.
If you plan to eventually obtain a master’s degree, or are considering doing something other than accounting later in your career, then choosing a minor that aligns with this is very beneficial. The classes you take as part of a minor may complete requirements for another degree if they are transferable. If nothing else, they will give you a good background in this additional career choice. The best thing to do when considering a minor is to always keep your options open and aim for what you really want.