Anonymous
Anonymous asked in Business & FinanceInvesting · 1 month ago

Does getting a degree in Business and Finance help you start and run your own business?Is hiring an accountant the same?He can cheat.?

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  • John
    Lv 6
    1 month ago
    Favorite Answer

    Speaking as a self-employed accountant, a degree in Business can be very helpful to entrepreneurs.  Rather than a Finance concentration, however, most entrepreneurs would benefit more by concentrating in Marketing.  Most small businesses use an outside accountant, rather than in-house.  The purpose of the accountant, however, is not to cheat.  Rather, ensuring compliance with tax and payroll regulations is a priority.  

  • 1 month ago

    Not really because an accounting degree covers big issues for big companies. You need a person with specific experience with small businesses and their issues.  Avoid cheating people by interviewing properly and doing background checks. {Go for knowlege and integrity; not just personality.} [A bookkeeper may be enough at the beginning, if you can even afford a bookkeeper.]

  • 1 month ago

    A Business/Finance degree gives you the basis for understanding the financials of a company both backward looking and forward looking.  It gives you the theories on what successful decisions are.  Having a degree in anything only gives you book knowledge.  Having experience in the real world combined with that degree is what really prepares people.  

    Your completely separate question about hiring an accountant is not 'the same'.  An accountant's job is to make sure all the numbers are categorized correctly for reporting profits and reporting to the IRS and/or stock holders.  Pretty much every job there is someone could 'cheat' or steal from you.  That's why you don't give them actual control and make sure you have proper internal controls (which you can learn about with an entry level cost accounting class.)

  • 1 month ago

    I recommend both.  Not knowing what you're getting yourself into when starting a business is foolish.

    As for CPAs...you either trust them or you don't.

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