Accountant: Expectations vs. Reality
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- Опубликовано: 12 сен 2024
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In this video I will be interviewing a successful accountant (Bill), who is now working as a financial controller for a large Financial Technology (Fintech) company, all about his profession. We will be discussing whether an accounting degree is worth it, the pros and cons of accounting and the best tips for those who are thinking about becoming an accountant. Enjoy!
This was my first ever interview so please leave any suggestions etc down below for improvement.
Also, there's a good chance that if you ask a question below, Bill himself may answer them, so feel free to ask questions.
Thanks to Bill for coming on the channel, check out his channel here:
/ thefinancialcontroller
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These videos are for entertainment purposes only and they are just Shane's opinion based off of his own life experience and the research that he's done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.
Sources and further readings for jobs and college degrees:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)
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Young people: accounting opens a lot of doors. You aren't going to be stuck doing one thing as long as you are capable of developing yourself while working in your career. It will be a lot of work pivot into these higher roles, but you 100% can do it and will be taken seriously as an accountant. It's not what you think!
as a 12th grader who's really considering accounting a big deal, this surely helps quite a ton. thanks.
Glad to hear that. Best of luck!
I'd suggest minoring or even double majoring in computer science since accounting is at a high stake of getting automated. Other than that, I support you man
@@JapanWalkerJJ does a minor in computer science rlly set you apart? I want to major in information systems and minor in computer science but I don’t know if it’s even worth minoring in computer science
@@mannyerick7235 I'm currently double majoring in International business and information systems and I'm proud of my progress so far. Honestly yeah I'd say go for it why not. It's only a minor so you don't have to go through the whole program, and you'll be able to have more technical expertise than the average IS major with no minor/double major.
Never said "accounting will get automated" i said that it is at a high stake of getting automated, shane even stated this in a video himself. You're acting like i said accounting sucks and do not go for it, because thats not what I'm saying at all. I'm just suggesting that its smarter to minor in something along with it like computer science if you're gonna take accounting. In fact I think you should minor in at least one thing if you take any business degree. I'm 100% for this kid going for accounting it is a really good major and I've had friends succeed in it, that's what I want to see and I want to help future fellow business majors to succeed.
I would like more of this as a series for different career fields.
More coming
@@ShaneHummus What is the difference between computer science, applied computing, information technology, computer information systems, and information systems.
@@SupremeJarJar please @ me when he answers this question! I want to know as well
@@SupremeJarJar Ugh these majors sound the same lmao.
yessss
As an accountant I can say this information is gold. You are doing a great service getting people this kind of detailed information.
do you regret becoming an accountant?
Super thrilled to be here with you Shane!!
Thanks again for coming on the channel Bill!
Quick question so you say there is no math in accounting?
Sorry I didn’t understand that part very much. Thank you!
@@user-xy2ly4uz6p Accounting is mostly math and English.
The highest math level you'll need in college is pre-calc and/or business math; however, on the job, the bare minimum is algebra.
@@GanNing221 so you're saying the math gets more complicated
@@Tururu134 Yes, the math difficulty gradually increases in college.
However when you get an accounting job, the math stays at algebra.
I think accountants should focus on mastering excel before learning a programming language like Python or SQL. I've inquired about this before as well, and there is a gap that needs to be bridged between the programming language and excel in order to better streamline tasks. People in FP&A say the same thing, focus more on understanding the ins and outs of the financial statements, then the programming languages can be secondary tools to make you more efficient. But it needs to be in that order.
You should really start a podcast! I would love to hear interviews with people of many different professions and backgrounds, and I think you would be a great person to interview people!
That's a great idea!
it would be nice to interview someone in marketing
questions to ask:
1.pros and cons of a marketing job
2.do you regret working in marketing
3.how long does it take to get a marketing job after graduating
4.day in the life of a marketer
5.salary expectations
6.tips for starting a marketing career
7.how was your college experience in marketing
8.tips to rise into the chief marketing officer role
9.do you prefer working in marketing or sales or business development
10.do you enjoy working in marketing
and more thanks
You should do a lawyer episode next. That would be interesting.
Noted on that
@@ShaneHummus Architecture too!
That’s sounds like a good one
@@ShaneHummus corporate lawyer preferred
Thank you Shane and Bill!! It’s nice to see two RUclipsrs I follow collaborate. In my life, I’ve never found it easy to decide what I want to do as a career and y’all discussed questions I’ve been very curious about in Accounting. Thank you guys.😊
My pleasure.. Thanks for the comment Aaron
This is the best interview I have watched about this career and the questions were soooo good. This NEEDS more views
I'm learning accounting simply because every entrepreneurial thing I've ever done my weak spot was any form of paperwork or accounting whatsoever at the end of each year! haha figure paying someone the rest of my life will cost more than doing it myself :D
That's great chad. I hope you enjoyed the video
@@ShaneHummus Thanks, Shade! :D
Thank you for this video Shane!! I'm doing an accounting internship and this definitely helps me see what lies ahead for me!
Love this so much ! I have seen people cover accounting by people who absolutely hated their job! This the first one that I see that was positive. Thank you.
They hated it because to them it was tedious and mentally engaging and is generally hard work and sometimes long hours, but I am financially motivated, plus I want the finer things in life in the most practical way, so accounting is the best option, I don't care for what those who hate their jobs think.
Super excited to see you interviewing Bill. I’ve been following his RUclips channel as well and was totally stoked to see him on your channel.
They asked an accountant, an engineer, and a mathematician how much was 2 + 2.
The mathematician said "2+2 is 4, and I can prove it".
The engineer said "Well, 2+2 is anything between 3.9 and 4.2".
The accountant said "It depends. How much do you want 2+2 to equal?"
Funny if you think like that you're wrong 😂
I'm actually an accounting major so this video is really useful. I am also glad my CS experience and my current work experience as a IT technician may pay off also
Best of luck!
i appreciate the both of you. you asked some amazing questions and he articulated himself very well and he did an amazing job of explaining accounting. Thank you
Glad you enjoyed it! Thanks for the feedback
I appreciate you getting a speaker to inform us on this career! Love your videos 👍🏽
Thanks for watching
This was amazing and exactly what I needed. Not only was Bill great at going into detail and explaining things. Shane asked great questions I didn't even think of. I'm so glad RUclips recommended this to me. Thank you to both of you
Glad you enjoyed it!
Would love to see a financial manager on this
I might make one in the future
Currently in school for Accounting. Really enjoying it so far but again I'm in first year so the difficulty hasn't quite kicked in yet. Looking forward to the video and its insight, whether positive or negative.
nice! good luck
Im 15 and live in london but i cant stop watching your videos as they are really insightfull in future careers. And i dont have a clue what i want to do when im older. So thank you for the vids!!
How things going?
Great interview. I would add business consulting services as another accounting tangent. And corporate strategic planning. And M&A, for example due diligence activities. And government regulatory work. And business valuations services. [I started with an accounting degree and have done all this and more]. The key for these types of paths is to keep your eyes open - but the common element is that the accounting degree was the foundation for each of these activities.
Thanks for adding that. Cheers!
I would love to see an MIS interview :)
Pleasee
This channel has helped me alot and guided me through my own research 💯
Glad to help
I just got accepted into a Masters of Accounting so this came out at the perfect time! I'm excited but nervous...
Congrats!!
Congrats! I chose to not do MAcc because it seems better to just get a CPA since you'll want to get your CPA as well.
@@Chironex_Fleckeri yeah, but every state requires a minimum of 150 credit hours to apply to tax the CPA exam. Getting a Macc is getting them one step closer to CPA since they are able to reach the minimum credits.
@@jep05f Yes, but you can still reach the 150 credit hours with basic community college credits for much less money. The Macc is only really worth it if you did not major in accounting or still need the accounting specific credits for the CPA. Not to mention they are much easier if you want extra time during your 5th year to study and take the exam. Most states don't require 150 to sit, just to get the license.
I’m a junior in high school and just trying to explore my options regarding future careers. Accounting might appear boring to some, but for some reason I feel as if I would enjoy it? I hear a lot of risks of it being automated in the future which terrifies me because this is the only career with a decent salary that honestly appeals to me. I would consider computer science too, but some people have just been coding out of the WOMB and I would feel extremely late and far behind. I’m not entirely sure if I would be able to succeed in that field. I’ve just been feeling super lost lately and I’ve been having many sleepless nights just thinking of my future.
Same here. Every single day I think about what career I should go for. I initially was going to do Computer Science, but the information just doesn’t click for me so I’m trying to see other degrees and accounting seems kind of interesting
@@bdaman_2595 Hopefully we’re both able to find a career that we like soon. I wish you the best of luck!
Same I’m going to be a sophomore in high school and I initially thought I new what career I wanted but now I am so confused and scared just thinking about college and what to major in it’s all so overwhelming 😑😑
@@ggukiescave Thank you, and you too!
@@sofiag4377 I wish you the best of luck! Just try not to be so hard on yourself. It’s good you’re thinking about your future now.
Omg this was extraordinary content. I usually don’t border leaving a comment but I wish I could like multiple times lol. Thank you this interview a lot of meaningful insights to accounting especially the last part of wanting to own a business later on with after gaining experience. Please make this a series thanks again!!!
*PLEASE MAKE THIS A SERIES*
woahh i wasn't expecting this collaboration. i follow you both so this was a nice surprise.
Glad you liked it!! haha
👏👏👏 Thanks Shane! That was an amazing interview, just to resume in a couple of words : Simply Professional. I can't wait to watch more interviews like that, with professionals from different areas... And the links and other references bellow the video are just perfect! Rich of good information!👍.
Glad you enjoyed it Anderson! Expect more to come
I was directed to study Accounting as a career as I started at work. I was steered by a former staff training manager. I was so pleased as I notch up 30 years next year in the industry. I have never NOT has employment in this industry as I have worked in various industries but all relating to finance. I have worked in all facets of Accounting & I found it challenging with a variety of projects. You need to crawl before you can walk ................................. nobody like Auditing or Data Mining or Statistics but you need to learn the ropes before you can progress.
Amazing content Shane. Please do more of these in the future with other careers!
Stay tuned for more Ulises
I'm an almost old lady who's thinking of a mid-life+ career change. Bill explained that his career path was leading him to a position as CFO, yet he was not sure that pushing more of his available time into the needs of such a position was the right thing for him and his young children. He is obviously energetic, ambitious, capable; yet the family situation forces a choice that could de-center his career--and stall his ascent up the ladder. At least, that's what he said. I was struck by the thought that women certainly deal with this choice, and (in my experience, just in my experience, ok) it is exactly this which has led to fewer women than men continuing up into the highest positions. (That is, no one in 2022 is pushing women down; they are just more likely than men to self-select out, in favor of rebalancing toward the family.)
This was great! Would love to see marketing, international business or public relations
This was a neat idea. I think you would be doing a lot of people a service by making content like this more often.
Got it Luke
33:50 i think the "glamor" potential comes with what company you work for. I work in the accounting dept for one of the largest airports in the world and everyone that o say that to is so amazed and super interested in a bunch of the numbers i work with. But yeah if youre just part of a random accounting firm it isnt going to be seen as a "cool" job
Let’s gooo!! I always wanted your version of this. Engineeredtruth unfortunately stopped doing this, which made him popular. I see your channel taking off if you make this a series! Radiation therapy next?
Thanks for tuning in Mike
Hey Shane! Great content as always!
I’m in my first semester of community college and initially decided to major in biology, but then, I saw one of your videos saying that this degree isn’t so great if you don’t have higher education, which I don’t desire to get.
I was also very worried about taking these hard chem, physics, and math classes in the future because science isn’t a huge passion of mine. But helping and caring for people is something I’m very passionate about. So instead, a few days ago, I’ve decided to major in nursing!
So my question is, can you please make a video like this based on being a registered nurse or getting a BSN? It would be so helpful if you can interview an RN. Thanks! 🙏🏼❤️
Noted!
great video!! going into senior year of high school and finding this tremendously helpful. definitely think im going to major into accounting at this point, what a relief to have that figured out
in my opinion accounting is important to know to invest (also according to warren buffet) but it’s also kind of hard to learn
Good point Victoria
@@ShaneHummus I’m in a beginner accounting class right now and I’m struggling even though I consider myself a smart person. I have a good grade in the class I just don’t understand everything like I usually do.
@Guido Guy accounting will not teach you how to be a better investor but it will give you the framework to understand the materiality behind figures in a balance sheet and thus how this historical information is used by financial analysts etc to project models. Think of it as accountants being the computer scientists understanding algorithms to build code while financial analysts are the programmers who make and run code without needing to understand the conceptual frameworks
@@universealchemy it's tough but stick with it! You'll walk out the other side with employers wanting to pay you good money for your time and services
@@pranavdixit6157 I’m not majoring in accounting but it’s important to learn. Thank you for the encouragement
Appreciate everything you do!!! Thanks for all the helpful information 🙏🏼
My pleasure!!
This was insurmountable helpful thanks! I would based on my own knowledge and talking to others agree that accounting should be a higher ranked degree than finance where 'X factor' is less relevant and more subjective in real life... but you're entitled to your own opinion and research Shane
Thanks for sharing your thoughts on this Pranav. Much appreciated
Interesting point on how an accounting degree serves as a better foundation for financial analyst positions.
When your degree is accountancy (major in accounting), it doesn’t really matter where you took it. The competency level is the same whether you went to a big university/college or community college. But for fancy courses like sociology, marketing, psychology, the university/college perhaps really matter, perhaps you will have an advantage if you went to a big university/college.
Thank you so much for this video Shane, I really appreciate it. Now I really know and sealed that I want to pursue Accounting as my career and I am so thankful to have so many resources to look to on this channel! Love your content :D
I've worked as a financial analyst, started and exited multiple businesses successfully, and am in a master's in accountancy..... WHAT AM I DOING HERE??? hahaha! Great interview man!
Great interview and very helpful, thank you both. This might be more a inside baseball question so I don't expect you, Shane to know the answer. Would you recommend people who finish BBA in accounting get work right away and continue to finish additional CPA educational requirements concurrently? Or, alternately, finish all CPA educational requirements and take the CPA exam to get the theory portion out of the way, then collect work experience to receive CPA designation.
Joining and attending school clubs and meets is the biggest thing for getting your first job. My GPA is 3.0 and I struggled to get a job, I went to one event and now I have 3 internship offers and 2 full time offers even tho my grades are below rhe min requirements for most of the firms
I went to queens college too. Majored in economics.
Investigating and explaining differences that I find in financial reports is 80% of my job as an accountant
Being an accountant myself, who also works in a big 4 audit firm, I can fully relate to the entire discussion.
Very good questions Shane! Would you bring an OT? That would be interesting, thanks!
These interviews are great. Just finished the other one about IT with Josh!
I would also love to see people covered who want to go into accounting who are older, and have a bachelors other then accounting.
Would it be possible for you to create a channel dedicated to vlogging, or perhaps even create a simple Draw My Life? Your insight into different career fields is fascinating and all, but I'm interested in the human side of you. What inspired you to create this channel? Who is your role model? And who influenced you the most? Regardless, keep up the good work and excellent content! I'm rooting for you!
That's actually not a bad idea Noel. I might do that. Stay tuned
dude, this is such a great content. holy.... a lot of people including me are wanting to know what it's like to be in certain career.
Thank you for this interview. I just finished an associate's degree in accounting and wanted to switch majors for my bachelor's degree, but this gave me a new perspective.
Fully agreed. Thank you for such an insightful explaination.
Also Make video on various accounting qualifications. Like ACCA, US CPA, CFA, CIMA .
Are you from one of the commonwealth countries?
Can you please do a video talking about machine learning and another one for mechatronics engineering?
I got one for Mechatronics coming soon
My brother got his accounting degree and it’s probably his biggest regret. Quit his first job after only a few months. Went back to school to get his BSN became a nurse and said his only regret is that he didn’t do it sooner. He absolutely hates accounting.
Always good to make sure it's a good fit
Really does he like being a nurse also what’s his salary if you know ???I’m deciding if getting a accounting or finance degree is best for me but I’m also interested in nursing ???
Heathcare Finance is huge right now. He should consider combining skills learned from both degrees and work toward a Heathcare Leadership role (e.g. Administrative Director, Ambulatory Operations/Perioperative Services/Dept. of Medicine)
But his accounting degree will make it easier for him to move into healthcare and nursing administration jobs
@@aoma9111 nooooo, he’s 100% done with anything having to do with sitting at a desk. He would never ever work an administration job. He never did before his acct degree and that’s the main reason he quit. He hated every minute of it. He loves being a nurse and is going to become a nurse anesthetist CRNA in a few years. He’s applying to programs soon. He said he wishes he would have just went to nursing school from the beginning, it would have saved a lot of time money and energy.
Shane you did an excellent job with the interview. SO much great information from Bill.
This is GOLD Bro. 👏🏾👏🏾
Thank you for this.
Thank you for this video. You have no idea how helpful this is 🙏🏾
You're welcome!
Been a a subscriber of both of you for a while! You guys are great!
Bill Hanna is awesome! Highly recommend his channel
such a great idea, hoping for finance next
Yepp me too
Thank you for this in depth interview, i found out after 3 college courses that accounting is not math many years ago. But accounting still lingered in my head. Now for sure i know accounting is not something i would pursue id rather pursue math that has more flexibility. Thank you again
Very informative and excellent choice of interviewee.🎯
Please make a 'is supply chain management degree worth it' video!!
Noted on that
@@ShaneHummus ty!!
Zoey G. Excuse my ignorance, but couldn’t you transfer your accounting degree into the SC field?
This is really cool; please do more of these!
Thanks Momin.. Will do
@@ShaneHummus thanks for always being there and listening to what we have to say and responding to us.
I really loved this! Great interview!
Sir, please make a video on MHA(masters in hospital administration) and tell about the scope in abroad.
Hey Shane, I'm a sophomore student from Texas and I'm starting to investigate about colleges here in Texas. Can you do a video about the best colleges from Texas. Love your content and keep the good work!
I'm surprised to hear that most people start out on either the AP side or the AR side and then they'll progress to financial reporting afterwards. I went straight into doing all three 🤔
Depends where you work! If you're in NYC, you'll be an ant. If you're in Peoria, IL, you'll be a giant. All depends :)
I loved my former accountant but geez what a huge savings when I went online with Turbo Tax and used their accountant for my business. In the future is online. I uploaded my documents and went through them with her and boom she saved me money... same as my former accountant in person. Future is online.
Amazing video!
Loved this interview
Glad you enjoyed it!
Great interview with lots of great topics covered! Thank you both! 🙂
definitely you are going to hit 1 million this year
Wow I hope lol
Shane, awesome video. Hopefully, once I graduate in a semester or two and get experience. I could share with the audience my Expectations vs. Reality. I'd love to help the younger generation. I'm a Computer Engineering major by the way.
Definitely, send me an email in a few years
Hi Shane, I’m a big fan of your channel and enjoyed this video. I saw your other videos on best double majors for business degrees and as an accounting major in the process of completing my aa I am still looking to see what minor would be most beneficial to my accounting major especially for someone who would like to pursue their CPA license. What would you recommend Shane. Thanks, you really are the success GPS.
The BEST College Degree Minors!
ruclips.net/video/EN1xE4f4zWM/видео.html
Wow,i finishe the vedio without even knowing it!
Very good questions with very good answers!
This is why i love this channel..always help !!!
Thank you so much.i am from Africa continent..the salary is sooooo less when i see but atleast i know what to do in the carrers..
Awesome interview man. I appreciate. Thank you
can you do one on international business marketing management
Very helpful - thank you!
Glad it was helpful!
WOW this is a very useful information, thank you for making this video.
Thanks! Glad it was helpful
I'm going into Accounting, so I'll definitely see what's up in this video.
I majored in accounting as a default. I didn't do amazing in the hard sciences so engineer never really came up as an option. Probably should have done more planning to figure it out but I just figured graduating with a degree was much more important (and cheaper) than switching majors two or three times. I didn't get an accounting job as everyone wanted an internship/experience although I had a small amount of related experience. Almost no one is passionate about accounting (save a couple of my college professors). It's a stable job with a normal career path. Now, I'm looking more into financial planning as what to do next.
You are not alone. Accounting provides a strong foundation and is one of the best business concentration that is great for career pivots.
Shane, could you tell us about ACCA as it is becoming more popular by the day? Thanks for what you do and keep up the good work.
Great content. I wish this information was available when I needed to pick a degree.
Could you please explain Accounting: Internal Reporting, Control, and Auditing vs External Reporting, Control, and Auditing BSBA? Which one should I choose to pursue?
I'm in my 30s about to enter the field. Thank you for the insights
what business major do you advice a tech entrepreneur to pursue. Which will be more useful to an entrepreneur
Will share this video as a guide for my students whi want to take up Accounting
Excellent video! I found it very helpful and informative