Accounting Vs Business management and economics Watch

grace_grace
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luq_ali
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Accounting is field of study that touches upon management and economics, most accounting and finance degrees will have classes/modules in business, marketing, economics and finance-I know in my own program I had Econ 1 & 2, Corporation Finance, Investments, two classes management, marketing, international business. So, an accounting major, brings into play, all that general knowledge, PLUS expertise in accounting as it breaks down into financial accounting, tax planning, auditing, forensics(accounting), and very important cost accounting, which is a core and fundamental part of any manufacturing or product driven business-an employer knows those things, coming in the door to recruit. An employer knows, an accounting major can become a Certified Public Accountant, Certified Internal Auditor a Certified Management Accountant (and the latter is the only one, without additional uni level courses, a pure finance, marketing, management or econ major can obtain)

In my own experience, when I and other classmates graduated with our accounting degrees, when we were in competition against the other degree majors, we saw favor coming in our direction most of the times, because as general rule, we had the overall basic business knowledge as a core foundation, plus advanced training in accounting as noted above. An accounting degree does NOT mean you have to be an accountant-it isn't limiting you. And, while I would agree it is possible for a non-accounting major to be a bookkeeper or work in accounting, again, unless that person has a master's degree or the requisite 30 credits or more focused specifically in the accounting over and beyond financial accounting, there is no way a non-accounting major is going to be a CPA, Auditor, etc. I would very much consider accounting, realizing you are free to take electives in other areas to broaden your knowledge. On the other hand, an accounting degree graduate is on equal footing in terms of taking series 7 and other licenses for investors, as those who have majored in other areas, for example, if you wanted to work that industry-and that is the case across the board in most cases. I've met CEO's and senior level managers who majored in accounting, but were not limited from working in major companies in management, marketing, etc. (a critical part of economics analysis involves statistics-quantitative analysis, I know in my own program I had 3 classes in statistics-including Quant 1 and 2, I also had Calculus 1 & 2(not business Calculus, the full one-the same as engineering students), Physics 1 &2. And this is not uncommon in accounting or accounting-finance curriculum at various unis)

(Original post by grace_grace)
During clearing I accepted an offer for business management & economics instead of pure accounting because accounting & finance which I initially intended to do was not offered at the university.

I am now somewhat concerned about my decision. I see myself pursuing a career in finance (most likely accounting) but I am worried that pure accounting might make it harder to expand and take other job opportunities and placements outside of this field. My initial plan was geared towards taking an accounting & Finance course. However, when finding out on clearing day that the university I will now be attending only offers pure accounting I decided on business management & economics. This decision was based on the research I could do that day and my interest in economics. Also some friends and family suggested that this course would enable me to have more options, and I could take masters in accounting if that is what I want to pursue.

Right now I am unsure if taking accounting instead of business management and economics would make me less able to diversify in terms of job opportunities and placements. I've also been told that an Accounting degree may not be worthwhile as its not required to be an accountant. On the other hand, criticism I’ve heard about business economics is that there can be a stigma in regards to business degrees’ demand/usefulness and that it may not be worth taking if does not have enough economics content.

I know firms take on students who have not studied accounting for placements. However, I’m also concerned that this would put me at a great disadvantage when applying, especially because of the ACCA exemptions.

I have no prior experience with accounting so I’m not entirely sure what I’ll be getting myself into and most of my family have Legal or engineering degrees, so the advice is limited. However my main goals is to have a well-paid job so I really want my degree choice to help me get there.
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