"He's been a bit keen on business, reading stock magazines and "the Fin" since high school. So he's thinking about going into Accounting."
you don't need an accounting qualification to be in business.
" He's read all about the low pay, long hours and lack of respect associated with the profession but reckons it's still worth considering."
Low pay ? He obviously is not up to date with the market for accountants. An accounting graduate without any practical experience can fetch a good starting salary these days.
"Accounting" as a field of study is very much a multi-discipline field. It is no longer centred around the study of book-keeping.