I have not seen studies indicating there will soon be an over abundance of accounting graduates. Sorry I couldnt help with the Canadian part. He is the sole author of all the materials on AccountingCoach.com. To learn more, see the Related Topics listed below: Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. I'm stupid and my UCI TAG will get rejected because of it please help, 2016 and beyond wedding moms and dads (Part 2), Your New Thanksgiving Dish To Be Repeated, CSU application repeated course- but in different school districts Question. Home with your spouse/family/SO for 8 mos- what did you learn about them that you didn’t know? Because of double-entry accounting, if the balance in the account Prepaid Insurance is overstated (too much is being reported) it is likely that the account Insurance Expense will be understated (too little is being reported). You are already subscribed. I recently finished high school and I'm wondering whether its worth getting an accounting major to work in the accounting industry in the future, but news saying that there are too many graduates getting into accounting and the growth of jobs too slow to catch up is worrying. Right now Accounting is known as an in demand job so more and more people are majoring in it. All rights reserved.AccountingCoach® is a registered trademark. So in a decade it might be over-saturated, but than again the US is changing to IFRS so that is going to create a ton of new jobs. When an accountant uses the term overstated, it means two things: As a result of double-entry accounting or bookkeeping, another item is likely to have a reporting error. Copyright © 2020 AccountingCoach, LLC. How does the importance of prestigious national colleges vary by region? Error: You have unsubscribed from this list. Otherwise, I believe there is plenty of room for more accounting experts. Say it here cause you can’t say it directly- the get it off your chest thread (Part 2). When an accountant uses the term overstated, it means two things: The reported amount is incorrect, and The reported amount is more than the true or correct amount. If you want to work for a major public accounting firm it will always be competitive. As a result of double-entry accounting or bookkeeping, another item is likely to have a reporting error. Historically, accounting is one of the most recession proof areas for entry level jobs. This offer is not available to existing subscribers. I have usually read the opposite. Is Accounting an oversaturated field? If a company reports that its prepaid insurance is $8,000, but the true or correct amount of prepaid insurance is only $7,000, the accountant will say that the reported amount of prepaid insurance is overstated by $1,000. Former Stanford Admissions Officer Answers Your Hardest Questions - ASK ME ANYTHING! 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