Accounting and Finance VS Finance and Economics?Watch
I wanna go into finance industry. Originally I wanted to be an accountant but now, Im not sure.
Im in first year and just got my results from my accounting exam and economics exam. I got higher in economics - I find it a little more easier to understand. But I also found out if I do decide to be an accountant, there are more exemptions if I did a&f now.
Ive done some research.. butPlease can someone give me ideas on which I should take? Some pros and cons? Also which degree would give a higher salary in the future
Finance and Accountancy Careers Content Blocks
Accounting focuses on the day-to-day flow of money in and out of a company or institution, whereas finance is a broader term for the management of assets and liabilities and the planning of future growth.
Accounting is more about accurate reporting of what has already happened and compliance with laws and standards. Finance is about looking forward and growing a pot of money or mitigating losses. If you like thinking in terms of a longer time interest you may be happier in finance than in accounting.
Finance Vs Economics
In simple terms, economics and finance are just two wings of one coin. If you want to thrive in finance, you need to know economics as well. Economics is more about finding the balance point of demand & supply, knowing average cost & marginal cost, and identifying differences between fixed cost & variable cost and many other theoretical concepts, whereas finance is the extension of these concepts. Therefore, it’s often being seen that people who have made their mark in finance have often had economics as background.
More briefly, economics create the groundwork on which finance builds the house. So, if you want to be finance expert, you need to know economics as well to understand the difficulty and immensity of finance.