PhD in Accounting has been one of the hottest degrees to have in terms of employment prospects for the last few years. I think Sarbanes-Oxley act is what gave accounting such a push. The act created an unprecedented demand for accounting graduates and consequently, Accounting PhDs. I've seen quite a bit of statistics on that and I personally saw quite a few newly-minted accounting PhDs getting decent jobs even without any publications behind their shoulders. Moreover, I think that accounting is a profession which is not going anywhere in the nearest future. There may be ups and downs, but there's always going to be a demand for accountants.
So if you are thinking about majoring in accounting, this may not be such a bad idea, especially in comparison to such majors as English or Math. However, you have to keep in mind that it may already be too late to jump on board. You don't know what's going to happen five years from now. Chances are high that in five years there may be on oversupply of accounting PhDs. So don't assume that the demand will persist. You may be gambling!
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