accounting and finance or economics
I need help so I just dont understand the difference between accounting and finance and economics. I have searched it. I am confused which one to do at university I do a level chemistry, biology and maths. And which one pays more. Also which ones harder to get jobs in. If anyone can plz help.
Original post by ashhhhhyyyyyyyyy
I need help so I just dont understand the difference between accounting and finance and economics. I have searched it. I am confused which one to do at university I do a level chemistry, biology and maths. And which one pays more. Also which ones harder to get jobs in. If anyone can plz help.
I just dont understand the difference between accounting and finance and economics
Right, firstly they are all different subjects.
Accounting is more about categorising amounts properly to file reports. In the same sense, you can also use such skills to help find ways of improving company's efficiency and profitability (why most people go into accounting).
Finance is about raising funds and knowing where to put your money. This is more mathematical than accounting (not that accounting is particularly mathematical) but uses accounting information more to make financial decisions.
Economics is the study of allocating limited resources; it's not just in reference to money e.g. land, human capital, time. There is usually quite a bit of maths in economics and can often go head to head with finance in terms of math content.
I am confused which one to do at university
That depends on a number of things e.g. what do you want to do after uni, what subjects are you interested in, what are your strengths, etc. As you have mentioned none of this, I cannot tell you.
Do note, if you intend to do a degree to go into their respective industries, a degree in finance won't help unless it's one of the 5 in financial services recognised by the FCA (of which I could only find 2 on Google). For other roles in finance, you go for the professional qualification that is specific to the role you want to apply for (I don't know which role you're going for, so I am leaving this as a blank).
An accounting degree would allow you to get exemptions in professional accounting qualifications. The key to being an accountant is the professional accounting qualification, not the degree. Oftentimes, you can qualify quicker as an accountant without the degree.
A degree in economics can help you secure roles as an economist, but these are ruthlessly compeititve and you are oftentimes required to have a master's or a PhD in economics on top. Having said that, the government's GES stream do accept people with an undergrad in economics the last time I've checked.
If you want to go into academic research in either of the 3 fields, you would need to do a degree in the respective subjects.
The required subject to get into finance or economics is A Level Maths (at least for most degrees). Accounting generally doesn't have any required subjects, except if it's a quantitative joint degree with finance from a top end uni where you get more difficult maths in the in finance modules, then you would need A Level Maths.
Personal opinion, if you have done A Level Maths, you might find accounting a bit boring since it generally does not use anything much above GCSE Maths. Unless you're specifically going for mathematical economics, financial mathematics, financial engineering, actuarial finance, you're not really going to really stretch your maths skills i.e. most of A Level maths would be more than enough.
I do a level chemistry, biology and maths.
Sounds suspiciously like you initially intended to do medicine, but had a change of heart because either you saw the working conditions of a doctor or you realise they don't pay them as much as you thought. Do correct me if I am wrong.
And which one pays more.
You don't get paid based on your degree. You get paid based on your job. To get the job, it depends on a number of factors, including:
•
What value do you bring to the table?
•
What role you are doing?
•
What qualifications you have?
•
What experience you have? How long was your experience?
•
What are your work related achievements?
•
What skills can you offer your employer?
It's a long list. If we are all paid according to what degrees we have, professors would be multi-billionaires. This is not the case.
which ones harder to get jobs in.
It's kind of debatable, but it's kind of neck and neck between specific front office roles in finance and economist roles.
Roles in accounting tend to be easier to get because they're more commonplace.
If you can be more specific with the above, I might be able to help give you a more applicable answer.
Original post by MindMax2000
I just dont understand the difference between accounting and finance and economics
Right, firstly they are all different subjects.
Accounting is more about categorising amounts properly to file reports. In the same sense, you can also use such skills to help find ways of improving company's efficiency and profitability (why most people go into accounting).
Finance is about raising funds and knowing where to put your money. This is more mathematical than accounting (not that accounting is particularly mathematical) but uses accounting information more to make financial decisions.
Economics is the study of allocating limited resources; it's not just in reference to money e.g. land, human capital, time. There is usually quite a bit of maths in economics and can often go head to head with finance in terms of math content.
I am confused which one to do at university
That depends on a number of things e.g. what do you want to do after uni, what subjects are you interested in, what are your strengths, etc. As you have mentioned none of this, I cannot tell you.
Do note, if you intend to do a degree to go into their respective industries, a degree in finance won't help unless it's one of the 5 in financial services recognised by the FCA (of which I could only find 2 on Google). For other roles in finance, you go for the professional qualification that is specific to the role you want to apply for (I don't know which role you're going for, so I am leaving this as a blank).
An accounting degree would allow you to get exemptions in professional accounting qualifications. The key to being an accountant is the professional accounting qualification, not the degree. Oftentimes, you can qualify quicker as an accountant without the degree.
A degree in economics can help you secure roles as an economist, but these are ruthlessly compeititve and you are oftentimes required to have a master's or a PhD in economics on top. Having said that, the government's GES stream do accept people with an undergrad in economics the last time I've checked.
If you want to go into academic research in either of the 3 fields, you would need to do a degree in the respective subjects.
The required subject to get into finance or economics is A Level Maths (at least for most degrees). Accounting generally doesn't have any required subjects, except if it's a quantitative joint degree with finance from a top end uni where you get more difficult maths in the in finance modules, then you would need A Level Maths.
Personal opinion, if you have done A Level Maths, you might find accounting a bit boring since it generally does not use anything much above GCSE Maths. Unless you're specifically going for mathematical economics, financial mathematics, financial engineering, actuarial finance, you're not really going to really stretch your maths skills i.e. most of A Level maths would be more than enough.
I do a level chemistry, biology and maths.
Sounds suspiciously like you initially intended to do medicine, but had a change of heart because either you saw the working conditions of a doctor or you realise they don't pay them as much as you thought. Do correct me if I am wrong.
And which one pays more.
You don't get paid based on your degree. You get paid based on your job. To get the job, it depends on a number of factors, including:
It's a long list. If we are all paid according to what degrees we have, professors would be multi-billionaires. This is not the case.
which ones harder to get jobs in.
It's kind of debatable, but it's kind of neck and neck between specific front office roles in finance and economist roles.
Roles in accounting tend to be easier to get because they're more commonplace.
If you can be more specific with the above, I might be able to help give you a more applicable answer.
Right, firstly they are all different subjects.
Accounting is more about categorising amounts properly to file reports. In the same sense, you can also use such skills to help find ways of improving company's efficiency and profitability (why most people go into accounting).
Finance is about raising funds and knowing where to put your money. This is more mathematical than accounting (not that accounting is particularly mathematical) but uses accounting information more to make financial decisions.
Economics is the study of allocating limited resources; it's not just in reference to money e.g. land, human capital, time. There is usually quite a bit of maths in economics and can often go head to head with finance in terms of math content.
I am confused which one to do at university
That depends on a number of things e.g. what do you want to do after uni, what subjects are you interested in, what are your strengths, etc. As you have mentioned none of this, I cannot tell you.
Do note, if you intend to do a degree to go into their respective industries, a degree in finance won't help unless it's one of the 5 in financial services recognised by the FCA (of which I could only find 2 on Google). For other roles in finance, you go for the professional qualification that is specific to the role you want to apply for (I don't know which role you're going for, so I am leaving this as a blank).
An accounting degree would allow you to get exemptions in professional accounting qualifications. The key to being an accountant is the professional accounting qualification, not the degree. Oftentimes, you can qualify quicker as an accountant without the degree.
A degree in economics can help you secure roles as an economist, but these are ruthlessly compeititve and you are oftentimes required to have a master's or a PhD in economics on top. Having said that, the government's GES stream do accept people with an undergrad in economics the last time I've checked.
If you want to go into academic research in either of the 3 fields, you would need to do a degree in the respective subjects.
The required subject to get into finance or economics is A Level Maths (at least for most degrees). Accounting generally doesn't have any required subjects, except if it's a quantitative joint degree with finance from a top end uni where you get more difficult maths in the in finance modules, then you would need A Level Maths.
Personal opinion, if you have done A Level Maths, you might find accounting a bit boring since it generally does not use anything much above GCSE Maths. Unless you're specifically going for mathematical economics, financial mathematics, financial engineering, actuarial finance, you're not really going to really stretch your maths skills i.e. most of A Level maths would be more than enough.
I do a level chemistry, biology and maths.
Sounds suspiciously like you initially intended to do medicine, but had a change of heart because either you saw the working conditions of a doctor or you realise they don't pay them as much as you thought. Do correct me if I am wrong.
And which one pays more.
You don't get paid based on your degree. You get paid based on your job. To get the job, it depends on a number of factors, including:
•
What value do you bring to the table?
•
What role you are doing?
•
What qualifications you have?
•
What experience you have? How long was your experience?
•
What are your work related achievements?
•
What skills can you offer your employer?
It's a long list. If we are all paid according to what degrees we have, professors would be multi-billionaires. This is not the case.
which ones harder to get jobs in.
It's kind of debatable, but it's kind of neck and neck between specific front office roles in finance and economist roles.
Roles in accounting tend to be easier to get because they're more commonplace.
If you can be more specific with the above, I might be able to help give you a more applicable answer.
Hi thank you so much for your reply. Yes you’re right I did want to do medicine before but not anymore. And you asked what I want to do after uni I would like to become a chartered accountant but you can become a chartered accountant through economics or accounting and finance. And if i change my mind then I still have other things in economics that I can do. So idk. But in accounting and finance you can do a yr of placement. And which one do you think is harder to do at university MA Economics or MA Accounting and finance.
Original post by ashhhhhyyyyyyyyy
Hi thank you so much for your reply. Yes you’re right I did want to do medicine before but not anymore. And you asked what I want to do after uni I would like to become a chartered accountant but you can become a chartered accountant through economics or accounting and finance. And if i change my mind then I still have other things in economics that I can do. So idk. But in accounting and finance you can do a yr of placement. And which one do you think is harder to do at university MA Economics or MA Accounting and finance.
I would like to become a chartered accountant but you can become a chartered accountant through economics or accounting and finance
You can become a chartered accountant without doing an accounting degree as mentioned above. In fact, your A Levelsare enough to get onto an apprenticeship or trainee position in accounting.
A typical professional accounting qualification takes about 3 years if you pass all the modules (13-15) first time round (this would also meet the work experience requirement for all bodies as far as I know). If you take a degree, you would need to do another 3 years on top to fully qualify because you need the 3 years' experience despite getting up to 9 exemptions through your degree.
If you didn't do an accounting degree, you would need at least 3 years to qualify (as if you started from A Levels). This is not restricted to degrees in economics though; you could have done a degree in medicine, philosophy, property, computer science, French, etc. and still get in because they care more about your A Level requirements over what degree you did. Typically, if you can get onto a degree, you would have met the minimum entry requirements for the professional accounting qualifications anyway.
And if i change my mind then I still have other things in economics that I can do
Typically with an economics degree, you can go and become an economist, but you typically are asked to have postgrad degrees on top as previously discussed. Should you decide not to go into economics, you can typically enter 600+ different other professions (I will not list them all out) that ask for a degree in any subject (e.g. trainee solicitor, teaching), or did not require a degree in the first place (e.g. accounting, business, marketing, government services, property, writing). You can do something similar with a degree in accounting or finance (although I can't say you can go into economics with a degree in those subjects).
Should you wish to go into academia and do research in a specific subject, then you typically need a degree in that subject. There are some exceptions to this though, but they're not common.
But in accounting and finance you can do a yr of placement.
See @ajj2000's comment above. ajj2000 is also a good person to talk about jobs in accounting.
which one do you think is harder to do at university MA Economics or MA Accounting and finance.
Define harder. What's difficult for me is not difficult for someone else, and vice versa. I'm more of a maths person, so economics comes more naturally to me. For someone who likes essays and art forms more, accounting and finance might be easier.
On the other hand, I have seen people with degrees in maths and chemistry from top universities struggle to get through even the basic levels of an accounting qualification (equivalent of 1st year modules). Some people doing less STEM like subjects such as history, philosophy, and geography had an easier time getting through accounting. If these same people did a degree in economics, the reverse might be true.
Having said that, I have seen people with medical degrees qualify as accountants, so you can never know. Those who stick with it and study properly usually get through it.
When people say something is difficult, they usually meant it's more mathematical. In which case, I would say economics is "harder". However, accounting and finance isn't exactly straightforward, and you can get difficult maths in some of the finance content in some degrees, as previously discussed (they make this apparent by requiring that you have A Level Maths in their entry requirements).
As previously stated, as you have A Level maths, you should be fine with either unless you're going in the deep end and do mathematical economics, financial mathematics, financial engineering, or actuarial science.
If you do decide to do a postgrad in economics or do an economics degree, I would strongly recommend that you do a quantitiative degree (they require A Level Maths). A nonquantitiative economics degree would not likely allow you to become an economist.
Just out of interest, why is it MA Economics or MA Accounting and Finance? Do you intend to go to a Scottish university?
Original post by MindMax2000
I would like to become a chartered accountant but you can become a chartered accountant through economics or accounting and finance
You can become a chartered accountant without doing an accounting degree as mentioned above. In fact, your A Levelsare enough to get onto an apprenticeship or trainee position in accounting.
A typical professional accounting qualification takes about 3 years if you pass all the modules (13-15) first time round (this would also meet the work experience requirement for all bodies as far as I know). If you take a degree, you would need to do another 3 years on top to fully qualify because you need the 3 years' experience despite getting up to 9 exemptions through your degree.
If you didn't do an accounting degree, you would need at least 3 years to qualify (as if you started from A Levels). This is not restricted to degrees in economics though; you could have done a degree in medicine, philosophy, property, computer science, French, etc. and still get in because they care more about your A Level requirements over what degree you did. Typically, if you can get onto a degree, you would have met the minimum entry requirements for the professional accounting qualifications anyway.
And if i change my mind then I still have other things in economics that I can do
Typically with an economics degree, you can go and become an economist, but you typically are asked to have postgrad degrees on top as previously discussed. Should you decide not to go into economics, you can typically enter 600+ different other professions (I will not list them all out) that ask for a degree in any subject (e.g. trainee solicitor, teaching), or did not require a degree in the first place (e.g. accounting, business, marketing, government services, property, writing). You can do something similar with a degree in accounting or finance (although I can't say you can go into economics with a degree in those subjects).
Should you wish to go into academia and do research in a specific subject, then you typically need a degree in that subject. There are some exceptions to this though, but they're not common.
But in accounting and finance you can do a yr of placement.
See @ajj2000's comment above. ajj2000 is also a good person to talk about jobs in accounting.
which one do you think is harder to do at university MA Economics or MA Accounting and finance.
Define harder. What's difficult for me is not difficult for someone else, and vice versa. I'm more of a maths person, so economics comes more naturally to me. For someone who likes essays and art forms more, accounting and finance might be easier.
On the other hand, I have seen people with degrees in maths and chemistry from top universities struggle to get through even the basic levels of an accounting qualification (equivalent of 1st year modules). Some people doing less STEM like subjects such as history, philosophy, and geography had an easier time getting through accounting. If these same people did a degree in economics, the reverse might be true.
Having said that, I have seen people with medical degrees qualify as accountants, so you can never know. Those who stick with it and study properly usually get through it.
When people say something is difficult, they usually meant it's more mathematical. In which case, I would say economics is "harder". However, accounting and finance isn't exactly straightforward, and you can get difficult maths in some of the finance content in some degrees, as previously discussed (they make this apparent by requiring that you have A Level Maths in their entry requirements).
As previously stated, as you have A Level maths, you should be fine with either unless you're going in the deep end and do mathematical economics, financial mathematics, financial engineering, or actuarial science.
If you do decide to do a postgrad in economics or do an economics degree, I would strongly recommend that you do a quantitiative degree (they require A Level Maths). A nonquantitiative economics degree would not likely allow you to become an economist.
Just out of interest, why is it MA Economics or MA Accounting and Finance? Do you intend to go to a Scottish university?
You can become a chartered accountant without doing an accounting degree as mentioned above. In fact, your A Levelsare enough to get onto an apprenticeship or trainee position in accounting.
A typical professional accounting qualification takes about 3 years if you pass all the modules (13-15) first time round (this would also meet the work experience requirement for all bodies as far as I know). If you take a degree, you would need to do another 3 years on top to fully qualify because you need the 3 years' experience despite getting up to 9 exemptions through your degree.
If you didn't do an accounting degree, you would need at least 3 years to qualify (as if you started from A Levels). This is not restricted to degrees in economics though; you could have done a degree in medicine, philosophy, property, computer science, French, etc. and still get in because they care more about your A Level requirements over what degree you did. Typically, if you can get onto a degree, you would have met the minimum entry requirements for the professional accounting qualifications anyway.
And if i change my mind then I still have other things in economics that I can do
Typically with an economics degree, you can go and become an economist, but you typically are asked to have postgrad degrees on top as previously discussed. Should you decide not to go into economics, you can typically enter 600+ different other professions (I will not list them all out) that ask for a degree in any subject (e.g. trainee solicitor, teaching), or did not require a degree in the first place (e.g. accounting, business, marketing, government services, property, writing). You can do something similar with a degree in accounting or finance (although I can't say you can go into economics with a degree in those subjects).
Should you wish to go into academia and do research in a specific subject, then you typically need a degree in that subject. There are some exceptions to this though, but they're not common.
But in accounting and finance you can do a yr of placement.
See @ajj2000's comment above. ajj2000 is also a good person to talk about jobs in accounting.
which one do you think is harder to do at university MA Economics or MA Accounting and finance.
Define harder. What's difficult for me is not difficult for someone else, and vice versa. I'm more of a maths person, so economics comes more naturally to me. For someone who likes essays and art forms more, accounting and finance might be easier.
On the other hand, I have seen people with degrees in maths and chemistry from top universities struggle to get through even the basic levels of an accounting qualification (equivalent of 1st year modules). Some people doing less STEM like subjects such as history, philosophy, and geography had an easier time getting through accounting. If these same people did a degree in economics, the reverse might be true.
Having said that, I have seen people with medical degrees qualify as accountants, so you can never know. Those who stick with it and study properly usually get through it.
When people say something is difficult, they usually meant it's more mathematical. In which case, I would say economics is "harder". However, accounting and finance isn't exactly straightforward, and you can get difficult maths in some of the finance content in some degrees, as previously discussed (they make this apparent by requiring that you have A Level Maths in their entry requirements).
As previously stated, as you have A Level maths, you should be fine with either unless you're going in the deep end and do mathematical economics, financial mathematics, financial engineering, or actuarial science.
If you do decide to do a postgrad in economics or do an economics degree, I would strongly recommend that you do a quantitiative degree (they require A Level Maths). A nonquantitiative economics degree would not likely allow you to become an economist.
Just out of interest, why is it MA Economics or MA Accounting and Finance? Do you intend to go to a Scottish university?
Hi thank you for your reply. Yes I wanted to go to university of Aberdeen in scotland but its not accredited by anything so I dont think i will apply anymore. Also Im going to do economics at university with a placement yr. Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA. Or you will have to do more exams or something. Is that true?
Original post by ashhhhhyyyyyyyyy
Hi thank you for your reply. Yes I wanted to go to university of Aberdeen in scotland but its not accredited by anything so I dont think i will apply anymore. Also Im going to do economics at university with a placement yr. Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA. Or you will have to do more exams or something. Is that true?
I'm confused about what type of accreditation you are looking for? Not sure if there is any meaningful accreditation for economics degrees? If studying economics I wouldn't worry about accounting exemptions. You just won't receive enough for it to move the needle.
Annoyingly I cant see how many exemptions (if any) the course provides for ACCA on their website. @ACCA Rep - could you assist? I get the impression that the exemptions website is a bit flaky these days?
Original post by ajj2000
I'm confused about what type of accreditation you are looking for? Not sure if there is any meaningful accreditation for economics degrees? If studying economics I wouldn't worry about accounting exemptions. You just won't receive enough for it to move the needle.
Annoyingly I cant see how many exemptions (if any) the course provides for ACCA on their website. @ACCA Rep - could you assist? I get the impression that the exemptions website is a bit flaky these days?
Annoyingly I cant see how many exemptions (if any) the course provides for ACCA on their website. @ACCA Rep - could you assist? I get the impression that the exemptions website is a bit flaky these days?
For economics the accreditation is like CIMA. Some unis have it but i don't know whats the point of it. Like do you think the uni course being accredited for economics matter or not?
Original post by ashhhhhyyyyyyyyy
For economics the accreditation is like CIMA. Some unis have it but i don't know whats the point of it. Like do you think the uni course being accredited for economics matter or not?
Cima is an accounting qualification. It’s in no way relevant to careers which specifically require an economics degree. For most careers which value (but don’t insist on) an economics degree Cima is of little to no interest or value.
Being accredited by CIMA doesn’t really make much difference in getting into accounting careers. It might get you exemptions from a couple of early papers if taking an economics degree.
Original post by ajj2000
Cima is an accounting qualification. It’s in no way relevant to careers which specifically require an economics degree. For most careers which value (but don’t insist on) an economics degree Cima is of little to no interest or value.
Being accredited by CIMA doesn’t really make much difference in getting into accounting careers. It might get you exemptions from a couple of early papers if taking an economics degree.
Being accredited by CIMA doesn’t really make much difference in getting into accounting careers. It might get you exemptions from a couple of early papers if taking an economics degree.
oh okk. You know is it possible to become an actuary with an economics degree. I asked a university they were like on about you might have to do actuarial science or do mathematics degree.
Original post by ashhhhhyyyyyyyyy
oh okk. You know is it possible to become an actuary with an economics degree. I asked a university they were like on about you might have to do actuarial science or do mathematics degree.
Now thats a difficult question and to be honest you should seek advice on a specialist actuarial careers forum.
To the best of my knowledge - yes you can - but recruiters may prefer more quantitative degrees than most economics degrees (Warwick economics for example or LSE may be included in the 'more quantitative' degrees list. How much do you like maths?
I don't know much about Scottish universities but love how the system can work - could you see if you could apply for maths and economics with the get out of jail of being able to focus on one of the subjects if you didn't enjoy the joint honours?
Original post by ashhhhhyyyyyyyyy
Hi thank you for your reply. Yes I wanted to go to university of Aberdeen in scotland but its not accredited by anything so I dont think i will apply anymore. Also Im going to do economics at university with a placement yr. Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA. Or you will have to do more exams or something. Is that true?
Yes I wanted to go to university of Aberdeen in scotland but its not accredited by anything so I dont think i will apply anymore
Huh? Standard accounting degrees in the UK tend to be accredited by the big 3 accounting bodies: CIMA, ACCA, and ICAEW
I have looked at some of the accounting degrees at Aberdeen, and they seem to be accredited by CIMA, ICAS (Scottish accounting body), and ACCA:
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/1137/N400/accountancy/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/413/NN34/accountancy-and-finance/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/412/NL41/accountancy-and-economics/
See the Accreditation sections under Careers
Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA.
I concur with ajj2000 on this. What? CIMA is an accounting qualification; it's not economics. CAA is the Civil Aviation Authority (unless you correct me), which is only relevant if you intend to be a pilot.
You can't expect CIMA to offer exemptions for an economics degree where they have next to no relevance. You also don't get exemptions for your piloting licence if you intend to do accounting.
Original post by ashhhhhyyyyyyyyy
oh okk. You know is it possible to become an actuary with an economics degree. I asked a university they were like on about you might have to do actuarial science or do mathematics degree.
I concur with ajj2000. They usually expect you to have a degree in maths, physics, actuarial science, or engineering i.e. something with a lot of maths.
Whilst you can technically get in without any formal qualifications, it's recommended that you have a strong maths background (e.g. A Level Maths, which you have), because the content usually isn't easy. See: https://actuaries.org.uk/membership/types-of-membership/student-membership
See more information on how to become an actuary on the following page: https://actuaries.org.uk/qualify/become-an-actuary/route-to-becoming-an-actuary/
Of course, whether your prospective employer would prefer you to have a degree in maths, actuarial science, or economics is up for debate - I can't answer that. However, the official body for actuaries specify that they don't particularly mind so long it's a maths based degree.
(edited 5 months ago)
Original post by MindMax2000
Yes I wanted to go to university of Aberdeen in scotland but its not accredited by anything so I dont think i will apply anymore
Huh? Standard accounting degrees in the UK tend to be accredited by the big 3 accounting bodies: CIMA, ACCA, and ICAEW
I have looked at some of the accounting degrees at Aberdeen, and they seem to be accredited by CIMA, ICAS (Scottish accounting body), and ACCA:
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/1137/N400/accountancy/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/413/NN34/accountancy-and-finance/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/412/NL41/accountancy-and-economics/
See the Accreditation sections under Careers
Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA.
I concur with ajj2000 on this. What? CIMA is an accounting qualification; it's not economics. CAA is the Civil Aviation Authority (unless you correct me), which is only relevant if you intend to be a pilot.
You can't expect CIMA to offer exemptions for an economics degree where they have next to no relevance. You also don't get exemptions for your piloting licence if you intend to do accounting.
I concur with ajj2000. They usually expect you to have a degree in maths, physics, actuarial science, or engineering i.e. something with a lot of maths.
Whilst you can technically get in without any formal qualifications, it's recommended that you have a strong maths background (e.g. A Level Maths, which you have), because the content usually isn't easy. See: https://actuaries.org.uk/membership/types-of-membership/student-membership
See more information on how to become an actuary on the following page: https://actuaries.org.uk/qualify/become-an-actuary/route-to-becoming-an-actuary/
Of course, whether your prospective employer would prefer you to have a degree in maths, actuarial science, or economics is up for debate - I can't answer that. However, the official body for actuaries specify that they don't particularly mind so long it's a maths based degree.
Huh? Standard accounting degrees in the UK tend to be accredited by the big 3 accounting bodies: CIMA, ACCA, and ICAEW
I have looked at some of the accounting degrees at Aberdeen, and they seem to be accredited by CIMA, ICAS (Scottish accounting body), and ACCA:
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/1137/N400/accountancy/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/413/NN34/accountancy-and-finance/
https://www.abdn.ac.uk/study/undergraduate/degree-programmes/412/NL41/accountancy-and-economics/
See the Accreditation sections under Careers
Someone told me only apply to universities that are accredited like for economics its CIMA or for accounting its CAA.
I concur with ajj2000 on this. What? CIMA is an accounting qualification; it's not economics. CAA is the Civil Aviation Authority (unless you correct me), which is only relevant if you intend to be a pilot.
You can't expect CIMA to offer exemptions for an economics degree where they have next to no relevance. You also don't get exemptions for your piloting licence if you intend to do accounting.
I concur with ajj2000. They usually expect you to have a degree in maths, physics, actuarial science, or engineering i.e. something with a lot of maths.
Whilst you can technically get in without any formal qualifications, it's recommended that you have a strong maths background (e.g. A Level Maths, which you have), because the content usually isn't easy. See: https://actuaries.org.uk/membership/types-of-membership/student-membership
See more information on how to become an actuary on the following page: https://actuaries.org.uk/qualify/become-an-actuary/route-to-becoming-an-actuary/
Of course, whether your prospective employer would prefer you to have a degree in maths, actuarial science, or economics is up for debate - I can't answer that. However, the official body for actuaries specify that they don't particularly mind so long it's a maths based degree.
I think you misunderstood what I meant. I was just trying to give examples of accounting accreditations that I have seen form other universities. I was just trying to ask if for like economics degree if the course has to be accredited. And no you are wrong ACCA stands for the Association of Chartered Certified accountants.
Original post by ashhhhhyyyyyyyyy
I think you misunderstood what I meant. I was just trying to give examples of accounting accreditations that I have seen form other universities. I was just trying to ask if for like economics degree if the course has to be accredited. And no you are wrong ACCA stands for the Association of Chartered Certified accountants.
I think you misunderstood what I meant
I probably have then
I was just trying to ask if for like economics degree if the course has to be accredited
Then no, there is no professional body for economists or for roles involving economics. They usually go by the reputation of the university and course that you do. You can however apply to join the Royal Economic Society though: https://res.org.uk/ - I personally don't see that much benefit in joining, but it's good to join nevertheless.
And no you are wrong ACCA stands for the Association of Chartered Certified accountants.
If this is in reference to the CAA abbreviation in your prior post, then yes ACCA does stand for the Association of Chartered Certified Accountants, but the CAA stands for the Civil Aviation Authority. Might have been a misspelling.
Original post by ashhhhhyyyyyyyyy
I need help so I just dont understand the difference between accounting and finance and economics. I have searched it. I am confused which one to do at university I do a level chemistry, biology and maths. And which one pays more. Also which ones harder to get jobs in. If anyone can plz help.
Accounting and Finance is more technical and more specific. It is about numbers while Economics is more seen as Business industry. Salary expectations in Accounting sector are the following. Gradually, your pay scale can increase from £26,000 to £52,500. When you earn significant experience on the job, your average ACCA salary at the middle level ranges from £40,000 to £100,000. I hope it helps
Quick Reply
Related discussions
- UCAS Offer Likelihood
- UCAS Offer Likelihood
- UCAS Offer Likelihood: Economics
- Accounting & Finance at LSE or Economics at Exeter?
- Msc finance
- Degree advice for business ,marketing, economics
- A levels for LSE accounting and finance
- MSc Risk Management & Financial Engineering
- economics degree
- Can I get into investment banking with an Accounting and Finance degree?
- Help me choose my degree
- struggling to pick A levels
- Investment Banking
- Undergraduate degrees
- HELP
- Finance career question
- Which a level teaches this and exambaord
- Economics vs Finance
- How to get into good universities for accounting and finance?
- Clearing 2024- Queen Mary/ City Uni of London
Latest
Trending
Last reply 1 day ago
Realistically how hard to become an accountant without a degree and just the AAT lvl?Last reply 1 week ago
Help - QMUL (PWC Flying Start) vs Bath (Accounting &Finance) vs UCL (IMB)Last reply 1 month ago
Durham BA Accounting and Finance Vs Bristol BSc FinanceLast reply 2 months ago
BSc Accountancy PwC Flying Start Queen Mary University of LondonTrending
Last reply 1 day ago
Realistically how hard to become an accountant without a degree and just the AAT lvl?Last reply 1 week ago
Help - QMUL (PWC Flying Start) vs Bath (Accounting &Finance) vs UCL (IMB)Last reply 1 month ago
Durham BA Accounting and Finance Vs Bristol BSc FinanceLast reply 2 months ago
BSc Accountancy PwC Flying Start Queen Mary University of London
