Overview of Math and Accounting Double Major Programs
Programs in mathematics and accounting will help students develop strong analytical skills. Students who pursue studies in these subjects must be good at performing calculations, be detail-oriented so that they ensure accuracy and have the ability to apply theories. During the program, students will develop the skills and knowledge needed to apply mathematical principles to business decisions and to advise people and businesses about financial practices. They will also learn about industry-related regulations in accounting, auditing and business. Most programs have strong academic standards, and students must maintain GPA requirements to qualify to complete these majors.
Admission Requirements for Math and Accounting Double Major Programs
Most colleges have standard academic admission requirements that involve graduating from high school with a designated number of courses in different subject areas; this number can differ between colleges, so it is important to check the specific requirements of colleges you are interested in. Colleges may also review standardized test scores, and some schools have minimum GPA requirements that must be met to be eligible for acceptance.
There may also be program-specific requirements if it is necessary to choose a major when applying to the college; for example, some schools have limited enrollment in accounting programs, and it may be necessary to take specific courses, such as pre-calculus, to compete for acceptance in the program. Personal essays and recommendation letters may also be considered in the application process. In some cases, it is necessary to be accepted to the college first and complete program prerequisites to qualify for acceptance to the major.
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Math and Accounting Double Major Program Coursework
Math and accounting degree programs may offer some overlap, since it's common for accounting students to be required to complete some mathematics courses. Introductory courses in calculus, algebra and microeconomics are common requirements. Accounting majors are also be required to take business courses.
In an auditing course, students will learn about the role of auditors. They will also learn about what audits cover and the standards that govern auditing practices. National and international auditing protocols are explored, which will prepare students to work on audits with a variety of companies.
Probability theory introduces students to all the relevant factors that play a role in calculating probability. Students also learn about different types of probability, such as conditional probability. Students will be equipped to perform calculations to determine probability and will also learn about different theorems related to the field of probability.
There are many laws and regulations that govern businesses and the financial industry. A course in business law will familiarize students with some of the main laws that can affect accountants, auditors and others. Students will study specific cases and learn about how those cases shaped current business laws. They will also learn about how the law plays a role in business operations.
Studying taxation provides a detailed understanding of the way the tax system works. One of the main objectives is for students to understand how the tax system affects businesses and individuals. Understanding the federal tax system can help prepare students who are interested in working for the Internal Revenue Service or becoming tax accountants. Students will be equipped to advise individuals and businesses on tax issues because of the foundation of knowledge they develop about how the tax system works.
Completing introductory calculus courses will prepare students to take advanced calculus courses, such as multivariable calculus. Studies in this area provide insight into the roles of variables. Students will also study specific theories, such as Green's theorem. Other things students learn about include analytic functions and Cauchy's integral theorem.
How to Choose a Bachelor's Program with a Double Major in Math and Accounting
Location and cost are two factors that may influence program choices. It is possible to pursue a Bachelor of Science (B.S.) degree in mathematics and accounting at both public and private colleges throughout the country. However, it is important to ensure that the college offers these disciplines through the same degree type - usually B.S. - if your intent is to earn a double major. If a school offers a Bachelor of Business Administration in Accounting and a Bachelor of Arts in Mathematics, for example, those programs could only be pursued as dual degrees and typically wouldn't be eligible for the double major option.
Career Options with a Double Major in Math and Accounting
A double major in math and accounting will prepare individuals for many career options in the fields of mathematics, finance and business. Entry-level opportunities as a mathematician, accountant or research analyst can be pursued with a bachelor's degree. As of 2016 the U.S. Bureau of Labor Statistics (BLS) reported that mathematicians earned a median annual income of $105,810 and could expect to see a 30% job growth rate from 2016 to 2026, while accountants would see a 10% job growth rate and took home $68,150 per year. The BLS also reported that operations research analysts and market research analysts earned median incomes of $79,200 and $62,560, respectively, as of 2016, and over the ten-year period starting in 2016 would see job growth rates of 27% and 23%. The following are some additional job options: