Wednesday, January 11, 2017
Finance Degree vs Accounting Degree
First things first. What is the primary difference between a finance degree and an accounting degree? Well, this is a complicated question. The exact differences may vary from school to school, as schools can offer different specific curricula and different degrees for similar programs. The meaning of a finance degree from one university may not match the meaning of a finance degree from another, and the same applies to an accounting degrees. Some schools may not even offer finance degrees or accounting degrees, as they may lump everything in the subjects together into a single degree program under a single term.
But, that said, there is a general definition of finance and accounting that can be used to talk about the 2 subjects when thinking about the issue of "finance degree vs accounting degree". The difference, in other words, is pretty much that finance is about actually shifting or manipulating money, while accounting is about tracking those kinds of manipulations.
Should I pursue a finance degree or an accounting degree?
Well, this one's a toughie. A lot of the time, someone who earns an accounting degree can actually work in the fields of finance, and vice versa, but this isn't always true. If you know specifically that you've got an interest in the subject matters that would fall into the domain of finance or accounting, as described above, then it should be a pretty clear choice. But if you don't know with certainty that you're interested in either an accounting career or a finance career...
The answer probably lies in what you're hoping to do in the long run. If you're interested in earning a CPA, then earning a degree in accounting is a pretty good idea. If not, then you may be better served by pursuing a finance degree. That said, however, many will encourage students to pursue accounting degrees because of the preparation that an accounting degree would give for the CPA exam, and because CPAs often have more job opportunities for them.
