Accounting, business and finance are three areas which overlap each other and often go hand-in-hand – you can’t run a business without taking care of the finances, for instance, and you can’t go into accounting without knowledge of how a business is run.
Despite the fact they cross over, they are three very different subjects. Finance focuses on fund management, while accounting involves the broader analysis of a business’ financial situation (including its cash flow, liabilities, etc.); a business course will introduce you to all of the elements needed to run a business, which – while touching on accounting and finance – will also include things like marketing and economics.
WHY STUDY ACCOUNTING, BUSINESS & FINANCE?
A degree in any of these areas will be challenging, but the rewards will be great. If you have a degree in accounting, business or finance you’ll have excellent employability prospects and you’ll have a good chance of earning decent money after you graduate.
If you have an analytical mind, a love of problem solving and a good brain for maths, a degree in one of the above subjects could be perfectly suited to you.
AFTER YOUR DEGREE…
Although your job prospects are solid, it’s worth noting that positions at the top companies (big graduate employers like PWC and Deloitte, for example) will be extremely competitive. It’s also worth noting that although finance or accounting jobs may seem like the obvious choice, your degree won’t limit you to just working in these types of roles (as you’ll have acquired a range of transferable skills).
You don’t have to go straight into the world of work, either. Doing a postgraduate course could allow you to gain a further specialism, or even to re-train for a career in the likes of teaching or law. Alternatively, you could work full-time for a few years before going back to university to study for an MBA (Master of Business Administration) – a qualification that will open the door to higher level management roles.
Arnold Schwarzenegger – yes, you heard right. Arnie studied business and international economics at the University of Wisconsin, believe it or not (it’s worth noting that graduating from a business degree and going on to be a body builder/film star/politician isn’t exactly common, though).
See the full version of this guide – discover what A-levels you need, explore you study options, and find your accountancy, business or finance degree:
Accountancy study guide by Whatuni.