Research

Research into the field of accounting and entrepreneurship:

Accounting is one of the oldest professions of modern society.  The accounting industry in the United States and around the world worth hundreds of billions of dollars annually.  Through personal observation, I have come to the conclusion that accounting is a steady and potentially lucrative business due to the fact that every individual or business that handles a lot of money does not have the time to keep track of it all and, subsequently, require the services of a certified public accountant to aid them in their pursuit of financial security.

Any proper business institution must implement accounting practices in order to be successful in the competitive market.  Furthermore, the Internal Revenue Service of the United States of America is in place for the sole purpose of policing the entire accounting industry in order to ensure people and businesses practice accounting within all the laws and regulations established by Congress.  The field of accounting is one that is heavily regulated.  It is the vast amount of rules and regulations imposed on the industry that necessitate the implementation of trained, certified professionals who possess a high level of understanding in the subject.  This high level of understanding can only be obtained through the accrument of a bachelors degree with a major in accounting from an acredited university or other qualified educational institution.

Being such a vital part of every business, accounting can be deeply rooted in the determination of entrepreneurial ability and managerial control.  According to an article titled Accounting and control, entrepreneurship and innovation: Venturing into new research opportunities, "The relevance of accounting and control to entrepreneurship and innovation has become more salient over the last few years. The traditional paradigm that identified accounting and control as nothing else but detrimental to these two aspects of management has been challenged both through new concepts and recent empirical evidence".  This suggests that, recently, accounting has adopted a more prevalent role than ever before in starting and managing a company.  Based upon these facts, I think it is safe to say the conclusion can be drawn that when it comes to starting a new business  (especially an accounting firm) in today's highly regulated economic environment it would be most adventageous for one to have a significant background in, or be well versed on, current accounting practices.

It is true that starting my own business will not be an easy undertaking, however, with a proper education and degree in accounting, I think I will be well prepared for the trying road ahead.

 

 

Works Cited

David, Antonio, George Foster, and Daniel Oyon. "Accounting and Control, Entrepreneurship and Innovation: Venturing into New Research Opportunities." WMU University Libraries. ROUTLEDGE JOURNALS,      TAYLOR & FRANCIS LTD, June 2009. Web. 16 Apr. 2014.