Accounting, as a business language, is such a vast field of study that it encompasses the study of
numbers, business logic, and, of course, the analytical mindset of how to sort out difficult
accounting issues and also to advise on various financial statements in the lives of businesses,
corporations, and nonprofit organizations.
The study of accounting brightens the view of experiencing life in a much more complex and
larger concept to create a better career path for any individual that is looking to have a journey in
the language of business. A traditional adage states that “accounting is the language of business.”
While that is true, you can also say that accounting is the language of life. At some point, most
people will make a decision that relies on accounting information. (Franklin, M. Graybeal, P. &
Cooper, D. 2020). The more excited that I can be to learn some of the accounting principles, the
more it makes sense that I get to learn that the study of accounting can be overwhelming at a
point where one would feel it is a subject of long-life study. Accounting is the process of
organizing, analyzing, and communicating financial information that is used for decision-
making. (Franklin, M. Graybeal, P. & Cooper, D. 2020).
• Explain which career path you will choose.
The career path in the accounting field will be on the corporate side. I'd definitely go down that
road to learn more about how to generate chances and clear the way for others who want to
follow in my footsteps. However, being an entrepreneur necessitates a great deal of effort, and it
can take a long time to bring innovation, a project, or a desire to serve a product into the world. It
requires understanding how to approach other entrepreneurs, and investors which is a big one
where you go out there eloquently asking for funds to launch or to stay alive the idea, high great
accountants, and take risks that nobody thought of. The book has laid the definition of
Entrepreneurship this way “Many people have an idea for a product or service and decide to start
their own business—they are often labeled as entrepreneurs. These individuals have a passion for
their product or service and are experts at what they do. But that is not enough. In order for the
business to be successful, the entrepreneur must understand all aspects of the business, including
and especially the financial aspect. It is important for the entrepreneur to understand how to
obtain the funding to start the business, measure the financial performance of the business, and
know what adjustments to improve the performance of the business are necessary and when to
make them. Understanding accounting, or hiring accountants who can perform these activities, is
valuable to the entrepreneur. An entrepreneur works extremely hard and has often taken a great
risk in starting his or her own business. Understanding the financial performance of the business
helps ensure the business is successful.” (Franklin, M. Graybeal, P. & Cooper, D. 2020.P.39)
The entrepreneurship career has been known as an independent career path because it basically
provides most often its salary, its job description, and calculates its growth whether for a short or
long period of time in the future. Take, for example, the concept of francization, which basically
supports entrepreneurs in rising thoughts and verdict ways to profit from a firm that is already
present and recognized in the market. To start a firm, entrepreneurs do not need to form a fully
new product or service. Often entrepreneurs decide to purchase a store from a business that
already exists. This is called franchise prearrangement. In these arrangements, the business
owner (the franchisee) typically pays the franchisor (the business offering the franchise
opportunity) a lump sum at the beginning of the arrangement. This lump sum payment allows the
franchisee an opportunity to use the store logos and receive training, consulting, and other
support from the franchisor. “A series of scheduled payments is also common. The ongoing
payments are often based on a percentage of the franchise store’s sales.” (Franklin, M. Graybeal,
P. & Cooper, D. 2020. P.40). Regarding all of the different career paths that can be added to the
Accounting filed, the entrepreneurial career is not off downsides or free of difficulties, on the
contrary, an entrepreneur has to have a lot of endurance to persevere when all seems to be going
the wrong way and deviate to the point where it has never been intended to go. Embrace a job
posting within six months, there is no pure preparedness to go post for a job while the idea is to
form and examine all the opportunities to break through to the market with an idea.
Reference:
Franklin, M. Graybeal, P. & Cooper, D. (2020). Principles of accounting, volume 1: Financial
accounting. Open Stax Rice University. https://openstax.org/details/books/principles-financial-
accounting
