key courses for associate in accounting

5 Foundational Classes for an Associate’s in Accounting

  • Accounting Principles
  • Payroll Procedures and Administration
  • Taxation
  • Financial Analysis
  • Business Principles

There are key courses that are required for every associate in accounting program. Because this is a field where a bachelor’s degree isn’t always necessary, a professional can easily find a job with this degree. The Bureau of Labor Statistics estimates this field will grow 10 percent through 2026. This degree is becoming more demanded by potential employers, something that potential candidates should be aware of. Here are a few of the foundational classes that students can look forward when earning this degree.

Accounting Principles

This course is obviously a foundational requirement for any accountant in this field. Every single accountant has, at one point, taken a principles course in this field. It is considered a key course in this program. This is the course that sets the tone for the rest of the program. Students learn the most important principles of their field in one or two courses. Many schools now also require a student to engage in applied learning methods in this course to ensure they understand the concepts. No matter how a student takes this course, it is imperative that they understand and engage the principles every day to be the most competent professionals possible.

Payroll Procedures and Administration

Accountants take on a variety of roles. Depending on their career path, this might become a key course. That’s because accountants who work for firms or businesses must be comfortable with:

  • payroll procedures
  • profit and loss statements
  • retirement packages
  • other administrative duties

Payroll procedures differ from small to large companies and can even require different software. An accountant must be familiar with the most current systems and procedures used in order to be a qualified candidate for a position at a business. Students will also learn about:

  • budgeting
  • writing financial reports for further review, and more

All of these are necessary duties of an accountant who works in a business.

Taxation

One of the first things people think about when they hear accounting is taxes. Many entry-level accounting positions in small businesses require accountants to handle tax processes.  From individual to corporate taxes, it is important that accountants understand how the tax system works and how to file taxes on behalf of their company or clients. Taxation courses provide a working knowledge of federal and state tax laws. They provide information about the different:

  • business structures
  • wealth transfer strategies
  • capital gains and losses

Some schools may even provide students an opportunity to practice preparing taxes through volunteer tax preparation organizations.

Financial Analysis

Accountants know that one of their main responsibilities is financial analysis. Therefore, it comes as no surprise that a key requirement for this program is this course. From discussing business and personal taxes to understanding how profit and loss statements work, this course fully covers financial analysis. In addition, many schools offer additional electives that specialize in different analyses. These enable a student to get a more advanced education on the type of work they feel most passionate about. Most schools consider this a core requirement. For others, it is an elective offered to students. In either case, a student should take the time to enroll in this class.

Business Principles

One of the key requirements for this program is business principles. Because this field is linked to business, an accountant must understand the fundamentals of business to be successful. This course is a summary of the most important principles in business, so it is by no means comprehensive. However, it will serve most students well and may even lead them to earn a minor or additional qualification in business. Most importantly, this course is designed to provide students with an understanding of how their field is integral to the success of any business.

Accountants are becoming more in-demand. These professionals help keep operations moving smoothly in everything, includng:

  • Businesses
  • websites
  • government agencies
  • charities

While continuing education is always required for accountants, an associate degree is a great place to start. With these five key courses in an associate’s in accounting program, you can go into your education knowing what is expected of you both in school and in the workplace.

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