Business Valuation vs. Audit as foundation to run a business
If my end goal is to run a small business, what would be a better foundation-a few years in audit or a few years in business valuation? I would assume that audit would teach one more about the accounting principles that are involved while valuation would offer one greater insight into the operations of a variety of businesses.
Why not think about consulting, banking, or investment experience as well? They may be better?
Accounting would be far better than valuation
why?
Yeah none of these are going to give you a solid foundation of how to actually run a business. The only ways to learn how to start a business are:
-Starting one yourself -Joining an early stage startup as an employee (VC fund -Consulting (this is kind of a stretch)
Valuation would be very high level and only gives you exposure to one part of a business, its value at a time of sale or equity transaction. The litigation valuation work would be not be particularly helpful in learning how to run a business. Accounting will give you far more exposure to the details and a more intimate knowledge of businesses and how they run. Also you will be better able to budget, how small companies obtain financing, how small companies are structured, etc. Neither is ideal, but in my opinion a few years at a middle market or smaller accounting firm would be more helpful than doing valuation work.
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