Accounting vs. Finance as a degree?

[Duckman#72]

Re: Accounting vs Finance as a degree?

Yup, accounting jobs are almost a dime a dozen.

Entry into banks is very competitive. Based on what you're studying, you have a choice of two mainpaths, either through an internship program or post qualification at any of the big 4 .

If you take the big-4 path, transaction advisory, particularly valuations, or audit are the best accounting-related areas for those hoping to transition to a bank.

These days, non-accounting graduates will be taken in by the big 4 and you will be able to sit the CA, but you may need to do a bridging course.

Totally agree.

There is so much scope within "Accounting". Graduates are just not coming through. The accounting profession is an aging one. In 5-10 years time qualified, experienced accountants will be in high demand. As Doc pointed out "Accounting jobs are a dime a dozen". So to are the overseas studied, unqualified job applicants that apply for each one. Accountants are a scare resource that will demand higher charge out rates over the next 10 years.

Duckman

 

[doctorj]

Re: Accounting vs Finance as a degree?

There is so much scope within "Accounting".

It's just a shame the job is so boring!

 

[Duckman#72]

Re: Accounting vs Finance as a degree?

It's just a shame the job is so boring!

Ha!! Too right!!

 

[Wealth Wizard]

Re: Accounting vs Finance as a degree?

This was a big question for me aswell before I began uni, started out majoring in accounting, then economics Im now doing B Bus(Finance/Banking) with honours year. I think it depends on what you want to get out of it, for me I want to work in trading or risk management in the banking industry, and although accounting is a great degree to have I was just far more interested in financial markets, plus I am always learning of ways to build wealth through the content of my degree, so perhaps I wont need to work for too long! I would say go with what is interesting otherwise whats the point? as others have said you can always make money, I just find Finance faster paced, more creative and a higher possible return on investment (of course this implies a higher risk that the expected outcome will not be realised )

 

[doctorj]

Re: Accounting vs Finance as a degree?

Ha!! Too right!!

Be all right if it wasn't for the clients and the staff

 

[agro]

Re: Accounting vs Finance as a degree?

This was a big question for me aswell before I began uni, started out majoring in accounting, then economics Im now doing B Bus(Finance/Banking) with honours year. I think it depends on what you want to get out of it, for me I want to work in trading or risk management in the banking industry, and although accounting is a great degree to have I was just far more interested in financial markets, plus I am always learning of ways to build wealth through the content of my degree, so perhaps I wont need to work for too long! I would say go with what is interesting otherwise whats the point? as others have said you can always make money, I just find Finance faster paced, more creative and a higher possible return on investment (of course this implies a higher risk that the expected outcome will not be realised )

the whole idea of uni is to come out with a job isn't it? i've known people to study subjects they like and come out with nothing but a certificate

hence my point, with accounting better chance of getting a career regardless of how boring it is compared with finance..

thanks for everyone's inputs, would appreciate if more would put forth

 

[prawn_86]

Re: Accounting vs Finance as a degree?

I study a double degree in Finance and Marketing.

I was going to have Commere(Accounting) as a major instead of Finance, but after doing a couple subjects it isnt really what interests me.

I think P said there isnt much point doing Finance without accounting, however i have to disagree.

I feel that Finance offers a broader scope, and (my opinion only) accounting is essentially just applying rules to whatever area it is you specialise in.

I wanted to be in the Finance industry, but not as a CA or CPA. Plus picking up a few accounting courses helps gain that understanding.

 

[doctorj]

Re: Accounting vs Finance as a degree?

I feel that Finance offers a broader scope, and (my opinion only) accounting is essentially just applying rules to whatever area it is you specialise in.

That's a good point - accounting is only useful to finance types (in my very humble opinion) in so far as it helps them understand what goes in to generating numbers they analyse. There are some standards that are immensely important to some industries such as 136/138 for R&D type companies or 6 for our beloved explorers.

Also, in some circumstances there will be changes that really effect the industry. For example the next wave of IFRS will see a STACK of M&A activity leading up to implementation.

That said, you'll pick them up as you go along and begin to specialise in an industry. For me, the mathematics and the way of thinking you get taught in finance is far more important than the arbitary rules of the accounting world.

 

[xoa]

Re: Accounting vs Finance as a Degree

I'd do accounting. You don't need a finance degree to work with Goldman Sachs, but you do need an accounting degree to work as an professional accountant.

 

[surfingman]

Re: Accounting vs Finance as a degree?

I completed Finance Degree last year, and have noticed there are reducing numbers of jobs due to the market at present.

I quote from a reply to a position vacant in a stockbroker's firm, I cant name the source though.

"At this stage with the volatility of the market, progression of this role has been halted, I will contact you in the future if we decide to readvertise this role.

Thank you for your application, I apologise for the inconvenience."

I am now looking for other degree related work until the markets shows some strength.

 

[shogun]

Re: Accounting vs Finance as a degree?

Economics first. Finance is just applied economics so that would be second. Accounting is a distant 3rd. For forward looking investment analysis most accountants I meet fall well short. The grounding in what matters is much stronger in a finance degree.

Having said that we need accountants - always will. So it is a good job security option.