Published on March 4, 2016
1. Finance degree vs. Accounting degree Which degree is right for you?
2. Finance degree vs. Accounting degree Finance and Accounting majors may look similar but they are very different in their application in the real world.
3. Factors that differentiate Finance and Accounting
4. Get an online degree in Finance!
5. Job Growth Finance Accounting Average for all occupations Job Growth 16%1 13%2 11% 1 Based on the job growth figure for Financial Analysts 2 Based on the job growth figure for Accountants and Auditors * All data is taken from the US Bureau of Labor Statistics
6. Job Growth • Above average job growth for both majors • Both fields are competitive in their job markets • Emerging markets require financial analysts, finance managers and treasurers. • Accounting job market is in good shape and directly correlated to the economic conditions.
7. Salary Finance Accounting Median Annual Salary $76,9503 $63,5504 3 This is the 2012 median annual salary figure for a Financial Analyst 4 This is the 2012 median annual salary figure for Accountants & Auditors * All data is taken from the US Bureau of Labor Statistics
8. Salary • Finance majors are earning more than accounting majors. • With newer regulations and computerization of accounting functions, duties of accountants have become limited, resulting in lower salaries.
9. Specializations Finance Accounting Personal Finance Financial Accounting Public Finance Management Accounting Corporate Finance Auditing Tax Accounting Fund Accounting Forensic Accounting
10. Finance Specializations • Personal Finance deals with financial activities of individuals or families. • Corporate finance deals with the capital structure of large corporations. • Public finance revolves around the role of the government.
11. Get an online degree in Accounting!
12. Accounting Specializations • Financial accounting deals with the periodic reporting of a company’s financial status. • Management accounting is relevant to the business processes, budgeting, forecasting, internal controls, etc. • Auditing is the verification of a company’s accounts. This could be internal or external.
13. Accounting Specializations (cont’d) • Tax accounting revolves around the application of the Internal Revenue Service (IRS) rules and regulations. • Fund accounting is based on non-profit organizations; government and non-government organizations. • Forensic accounting is the use of accounting in legal settings, investigations and dispute resolution.
14. Job Titles Finance Accounting Budget Analysts Bookkeeping, accounting, and auditing clerks Financial Managers Budget Analysts Insurance Underwriters Cost Estimators Personal Finance Advisors Financial Analysts Securities, Commodities, and financial services sales agents Financial Managers Treasurers and Controllers Management Analysts Personal Finance Advisors Postsecondary Teachers Tax Examiners, collectors, and revenue agents Top Executives
15. Relevant Skills Finance Accounting Critical Thinking Active Listening Reading Comprehension Mathematics Writing Reading Comprehension Communication Skills Writing Active Listening Critical Thinking Complex problem solving Detail Orientation Judgment and decision making Judgment and decision making Mathematics Time Management Active Learning Coordination Monitoring Monitoring Analytical skills Systems analysis Detail Orientation Organization Skills
16. Degree for an entry level job • For both these fields, a bachelor’s degree is sufficient for an entry-level job. • Most students start off with a bachelor’s degree but end up getting a graduate degree at some point in their career. • For a finance job, it is harder to enter the market with anything less than a bachelor’s degree.
17. Interested in Online Learning and Degrees?
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