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BSc Accounting & Finance or BSc Economics?

Hi all,

As stated in the title, what do you recommend studying?

I'm currently enrolling on business studies with foundation year as a mature student with some of the optional paths that stand out to me being Accounting and Finance and Economics (Not Economics and Finance)-not a option.

I was thinking Accounting and Finance as it offers me more exemptions from Accounting bodies. I also want to go into Tax or Auditing (not really decided yet). year 2 of the course lets me study Macro and Micro Economics as optional modules along with econometrics. I'm thinking to go this route then maybe pair it with Economics and finance at masters level so I have both under my belt. most of the universities course requirements for masters require to study Econometrics, macro and micro to at least Intermediate level (Year 2) What do you think?

Thanks for your help
Original post by Purscape
Hi all,

As stated in the title, what do you recommend studying?

I'm currently enrolling on business studies with foundation year as a mature student with some of the optional paths that stand out to me being Accounting and Finance and Economics (Not Economics and Finance)-not a option.

I was thinking Accounting and Finance as it offers me more exemptions from Accounting bodies. I also want to go into Tax or Auditing (not really decided yet). year 2 of the course lets me study Macro and Micro Economics as optional modules along with econometrics. I'm thinking to go this route then maybe pair it with Economics and finance at masters level so I have both under my belt. most of the universities course requirements for masters require to study Econometrics, macro and micro to at least Intermediate level (Year 2) What do you think?

Thanks for your help

I have done accounting, finance, and economic degrees, so I would probably be qualfiied to comment.

I cannot stress it enough: you don't need a degree in accounting to go into accounting (passes in A Levels are enough). You definitely do not need a degree in finance to go to work in finance, unless you want to go into financial research in academia. It's strongly recommended that you take a good degree in economics if you want to become an economist, but you can also go in via apprenticeship. The master's in economics is only useful should you want to go onto to do academic research in economics (and possibly work as an economist, but most favour those with PhDs). To me, a master's in accounting is redundant. A master's in finance is useful if you want to go into financial academic research.
It's often significantly cheaper, quicker, and easier to just go straight for the accounting qualification than to do an accounting degree.

If I was in our position, I would just do the BSc in Economics (ideally if it has a lot of maths in it). You can easily go into accounting after the degree.

If you want to go into tax or auditing, then I recommend looking up the ACA, assuming that you want to stay working in the UK (if not, the ACA is transferrable in Australia, Canada, New Zealand, and USA, but you will need to redo certain modules in tax and auditing since their laws there are different). For other countries, look at ACCA.
With any accounitng body, you don't need anything more than an accounting qualification to be a tax advisor. However, should you wish to get the highest tax advising qualification in the country, look to the CTA, which can be only done outside of uni. With auditing, you would need to do extra auditing qualifications after your accounting qualification, irrespective of which one it is (I'm not a big fan of audit, so I'm biased in this respect).
Should you choose one accounting body over the other, you can switch accounting bodies, but you would need to do further exams to qualify (they are roughly the same, but there are nuances between them). ACA is usually more highly regarded in the UK than ACCA. However, ACCA has a wider international acceptance (even though individual countries would usually prefer their own accounting bodies over ACCA).
With economic degrees, you can pretty much work as an economist in any country that accepts you (ideally if you have a master's or PhD in economics).

If you have specific questions, let me know.
Reply 2
Thanks for your response,

If i wanted to work at say the a big 4 accounting firm, most of them require a degree to enter. would they accept a Economics degree, or would they prefer Accounting and Finance. also to mention, I eventually want to study abroad and most countries from the job descriptions in places like singapore and Hong Kong require you to educated to at least bachelors level

Thanks
Reply 3
Original post by MindMax2000
I have done accounting, finance, and economic degrees, so I would probably be qualfiied to comment.

I cannot stress it enough: you don't need a degree in accounting to go into accounting (passes in A Levels are enough). You definitely do not need a degree in finance to go to work in finance, unless you want to go into financial research in academia. It's strongly recommended that you take a good degree in economics if you want to become an economist, but you can also go in via apprenticeship. The master's in economics is only useful should you want to go onto to do academic research in economics (and possibly work as an economist, but most favour those with PhDs). To me, a master's in accounting is redundant. A master's in finance is useful if you want to go into financial academic research.
It's often significantly cheaper, quicker, and easier to just go straight for the accounting qualification than to do an accounting degree.

If I was in our position, I would just do the BSc in Economics (ideally if it has a lot of maths in it). You can easily go into accounting after the degree.

If you want to go into tax or auditing, then I recommend looking up the ACA, assuming that you want to stay working in the UK (if not, the ACA is transferrable in Australia, Canada, New Zealand, and USA, but you will need to redo certain modules in tax and auditing since their laws there are different). For other countries, look at ACCA.
With any accounitng body, you don't need anything more than an accounting qualification to be a tax advisor. However, should you wish to get the highest tax advising qualification in the country, look to the CTA, which can be only done outside of uni. With auditing, you would need to do extra auditing qualifications after your accounting qualification, irrespective of which one it is (I'm not a big fan of audit, so I'm biased in this respect).
Should you choose one accounting body over the other, you can switch accounting bodies, but you would need to do further exams to qualify (they are roughly the same, but there are nuances between them). ACA is usually more highly regarded in the UK than ACCA. However, ACCA has a wider international acceptance (even though individual countries would usually prefer their own accounting bodies over ACCA).
With economic degrees, you can pretty much work as an economist in any country that accepts you (ideally if you have a master's or PhD in economics).

If you have specific questions, let me know.


Sorry forgot to hit Reply
Original post by Purscape
Thanks for your response,

If i wanted to work at say the a big 4 accounting firm, most of them require a degree to enter. would they accept a Economics degree, or would they prefer Accounting and Finance. also to mention, I eventually want to study abroad and most countries from the job descriptions in places like singapore and Hong Kong require you to educated to at least bachelors level

Thanks


If you're aiming for the Big 4, yes they accept an economics degree, but they also do degree apprenticeships. These are probably just as notoriously difficult to get in as getting internships. Getting a job in one is incredibly competitive.

No, the Big 4 tend not to care what degree you did for your undergrad. If you pick up their brochure or ask anyone who work at these firms, you would notice a good number of them won't have accounting degrees.

A qualified accountant would have qualification up to master's level. If your bachelor's alone won't help, your accounting qualification will.
I have issues with Hong Kong, so I am biased.
If you do end up working for a Big 4, I don't think you would have that much problem transferring to another country, but you would need to meet certain requirements based on the laws there.

See the following regarding acceptance of ACCA in these countries:
https://en.wikipedia.org/wiki/Association_of_Chartered_Certified_Accountants#Asia
https://www.accaglobal.com/gb/en/member/membership/mutual-memberships.html
https://www.accaglobal.com/gb/en/member/membership/moving-abroad/moving-to-singapore/acca-qualification-recognition.html#:~:text=The%20ACCA%20Qualification%20is%20considered,including%20over%20210%20Approved%20Employers.
https://www.accaglobal.com/in/en/member/membership/moving-abroad/moving-to-singapore/faqs.html
https://www.accaglobal.com/in/en/member/membership/moving-abroad/moving-to-hong-kong/acca-qualification-recognition.html
https://www.accaglobal.com/in/en/member/membership/moving-abroad/moving-to-hong-kong/faqs.html

See the following regarding acceptance of ACA in these countries:
https://www.icaew.com/library/subject-gateways/career-and-personal-development/international-assignments/10-top-countries-for-accountants
https://www.icaew.com/membership/support-throughout-your-career/working-internationally#:~:text=Using%20your%20ACA%20qualification%20internationally&text=Membership%20recognition%20agreements%20are%20in,Kong%2C%20SAICA%20in%20South%20Africa.&text=Your%20ACA%20qualification%20is%20also%20recognised%20by%20EU%20member%20states.
https://www.mgiworld.com/newsroom/2014/january/singapore-partners-with-icaew-to-offer-aca-designation/

In short, you can be an accountant in both Singapore and Hong Kong with either accounting bodies, but ACA would allow you to do more in Singapore. ACCA and ACA would allow you to do the same things in Hong Kong.

What do you intend to study abroad? It might shed light on what you should do for a degree.

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