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I’m pursuing an IT major and need advice.
What would be better, For a student pursuing an IT major, would a minor in Accounting or Finance be better?
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5 answers
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Kristen’s Answer
Hi Jonathan- I did my degree in Accounting and Computer Management Information Systems. I landed in a job that actually uses both of those degrees- IT Audit. IT audit is a great choice to use both IT knowledge and some principles from accounting. I work for a public accounting firm and we hire IT majors all the time, but an accounting minor would be an added bonus for a applicant. Wish you well with your decision!
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Rebecca’s Answer
Thank you for your question. I am glad to hear you are interest in Technology.
In fact, technology can apply to different business aspects including Accounting, Finance, etc. It really depends on your interest
Technology is widely used in Finance especially in Trading Desk. Traders have been using the technology to build financial model to support the trading purpose. This involves intensive calculation using technology.
On the other hand, technology is intensively use in accounting systems. You may need to understand the account principle in order to develop the system suitable for accounting purpose.
Suggest you can sit in the classes of both finance and accounting. Speak to the alumni and professors to understand more on these subjects before you decide which areas you would like to take as a minor.
Hope this helps! Good Luck!
In fact, technology can apply to different business aspects including Accounting, Finance, etc. It really depends on your interest
Technology is widely used in Finance especially in Trading Desk. Traders have been using the technology to build financial model to support the trading purpose. This involves intensive calculation using technology.
On the other hand, technology is intensively use in accounting systems. You may need to understand the account principle in order to develop the system suitable for accounting purpose.
Suggest you can sit in the classes of both finance and accounting. Speak to the alumni and professors to understand more on these subjects before you decide which areas you would like to take as a minor.
Hope this helps! Good Luck!
Thank you, this was very helpful! Im leaning more towards Accounting but Finance has great opportunities for me so I will check out both classes.
Jonathan
Updated
Bill’s Answer
Hi Jonathan. Either minor would be a great complement to an IT degree because both degrees will lay out the foundation for future management roles. However, which of these 2 minors to select depends on your plans and future hopes for your career.
An accounting minor will focus more on the details of tracking and reporting income and expenses. This would give you some understanding of how to prepare or read financial statements, which would help if you intend on having your own business or consulting practice since you would need to understand your company's financial condition.
A finance minor will focus more on calculating investment return, comparing which projects would be more profitable or give a shorter payback period. These ratios and methods of calculating investment payback would serve you well in a corporate job at a large company since you would be presenting IT projects to your bosses and analyzing which would be the best option for the company to make or save money.
Personally, I come from an accounting background, so I believe an accounting minor presents more opportunities, but you cannot go wrong either way. I hope this helps!
An accounting minor will focus more on the details of tracking and reporting income and expenses. This would give you some understanding of how to prepare or read financial statements, which would help if you intend on having your own business or consulting practice since you would need to understand your company's financial condition.
A finance minor will focus more on calculating investment return, comparing which projects would be more profitable or give a shorter payback period. These ratios and methods of calculating investment payback would serve you well in a corporate job at a large company since you would be presenting IT projects to your bosses and analyzing which would be the best option for the company to make or save money.
Personally, I come from an accounting background, so I believe an accounting minor presents more opportunities, but you cannot go wrong either way. I hope this helps!
Thanks for your answer! I’m leaning more towards Accounting myself so your answer was very helpful.
Jonathan
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Tarek’s Answer
Hi Jonathan, that is a good question and i think your mind is in the right direction. It is very important to understand the financial aspects of the business in the IT industry and it definitely enhances your career success. My advice to you though is to follow your interests, whether it is finance or accounting you can't go wrong with either, but go with what interests you most and what you have passion for the most.
Thank you! I’m certainly doing my research and I’m excited in both fields so whatever decision I make is going to be a tough one, but I appreciate your insight. Cheers!
Jonathan
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Angela’s Answer
I would say accounting. The reason being that Accounting and IT interact on a daily basis. Also, as you progress in your career, you will learn to transition to new accounting software and participate in UAT and Implementations.