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Accounting and Marketing

I'm planning to go for double majors in Accounting and Marketing. What are your thoughts about it and is it even useful? #marketing #accounting #business

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Anny’s Answer

Hi, Saksham
When I was a product manager (marketing), I relied heavily on my cost accounting expertise to manage the product P&L (profit and loss statements). Yes, I could have just taken the analyst's word at face value. Instead, I fought to ensure that only those costs that applied directly to my business was and argued convincingly to keep costs low. It wasn't just to be more profitable, it was to ensure that every product line took on its fair share of its costs. As you grow your career, a basic knowledge of different areas of business can be highly beneficial to you to make informed decisions.

Does this require a double major? Not necessarily. But it does require some aptitude and coursework.

Good luck to you, Saksham.
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Ramzi’s Answer

Whilst both accounting and marketing are interested topics and related both to business expertise, from a technical perpective, they are 2 different areas. Accounting will help you understand how Businesses present their financial reporting and reflect fairly their historical transactions with the objective to support users of their financial statements such as investors to build a fair view on the entity’s financial position and performance as well as to their cash-flows and take investment decisions. You can also take your accounting expertise to the next level and obtain an international qualification in accounting and audit such as a Chartered Accountant/CA or CPA, ACCA, ACA qualifications.

Marketing is more about helping businesses understand the market/consumer preferences and to sell their products and any other offerings.

Combining both expertise can help but in my view it is better to focus on these one by one as the CPA required full attention and also covers business areas that can help you quickly learn marketing related matters.
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Mohd’s Answer

I would focus on one or the other as these are totally different fields that do not overlap much. However you can add Computer Science with either one and become a more well rounded college graduate. This will open doors to many positions and will be better for you in the long term both from a professional and financial standpoint.
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Jamie’s Answer

Hi-Agree with the previous advice given. As an accounting major and being married to a marketing major, I do find that the accounting degree does give a great general business background, in addition to providing specific skills within the major. When you start your college career however, you will get exposure to both curriculums and that may also let you choose if you would want to still double major or focus on one. Accounting majors do tend to have more flexibility in the business world, as they are exposed to all aspects of the business. Either are great fields to be in and can lead to fulfilling careers.
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Martin’s Answer

Accounting is a practical business function that is always useful, while marketing is more fun and creative. I wanted to major in both marketing and computer science, but their core requirements are different, so I had to pursue two separate degrees. Fortunately, accounting and marketing share some core elements, and gaining knowledge in both is beneficial.

In business, it's important to understand that accounting focuses on the Return on Investment (ROI) of business actions. In marketing, some aspects can be measured with ROI if there's enough information to track how people learn about or buy from your business. However, predicting or calculating ROI in marketing can be challenging, which can be frustrating for accountants. This is why some people say accounting and marketing are like different worlds.
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Parshva’s Answer

Hi Saksham! In the grand scheme of things, all majors are useful but the true value you gain from a business school is not essentially the major you choose, but rather the network you build, the soft skills you develop and the effort you put in to upskill yourself. To answer your question, personally, I would say any quant-heavy major paired with a qualitative major is a good combination. In your case, accounting can definitely give you a strong base with numbers which is crucial in any business/job, while marketing will essentially help you develop those crucial soft-skills like collaboration, presentation etc. Overall, this is a great combination but don't step back from trying out classes from other majors, especially during the first couple years of college. Best of luck!
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Michael’s Answer

Any major will be useful as long as you gain value and find it interesting. Marketing careers definitely have components of accounting with it as you run budgets and manage the business. Depending on how you view the course load and what you want to do after, definitely evaluate if a double major is needed. I would recommend shadowing some people in those fields and doing an internship to see if the classes are adding value to the real day to day.
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Kristina’s Answer

Hi. Congratulations in pursuing a business education; there are so many opportunities in the field. As others have stated, a double major may not be required if you have an idea of what career you would like to pursue. With that being said, studying both accounting and marketing would help you build a variety of skills that will be helpful in either career path. Additionally, having the double major would leave your options more open regarding which careers you can enter after graduation. Therefore if the double major is something you are passionate about, I think that is great. If it becomes too overwhelming, choosing one to major in would be great too. You can always take classes in the other subject to become a more well-rounded employee in whichever field you choose.
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Bekean’s Answer

Pursuing a double major in Accounting and Marketing can be a very strategic and useful decision, providing a well-rounded skill set that is highly valued in the business world. Here are some thoughts on the advantages and potential challenges of this path:

Advantages
Complementary Skill Sets:

Accounting: Offers a strong foundation in financial principles, analytical skills, and attention to detail. This expertise is crucial for understanding the financial health of a business, budgeting, and strategic planning.
Marketing: Develops skills in consumer behavior analysis, branding, market research, and strategic communication. These skills are essential for driving sales, understanding market trends, and crafting effective business strategies.
Career Flexibility:

Combining these two majors opens up a wide range of career opportunities. You could work in corporate finance, marketing departments, or even in roles that require a blend of both, such as product management or financial consulting.
It also prepares you for leadership roles, as understanding both financial and marketing perspectives is valuable for making informed business decisions.
Increased Job Market Competitiveness:

Employers often look for candidates with diverse skill sets. Having expertise in both accounting and marketing makes you stand out in the job market.
The combination can be particularly appealing to startups and smaller companies where employees often wear multiple hats.
Enhanced Entrepreneurial Skills:

If you aspire to start your own business, knowledge of both accounting and marketing is crucial. You'll be able to manage your finances effectively while also creating and executing marketing strategies to grow your business.
Potential Challenges
Intensive Coursework:

Double majoring typically means a heavier course load and potentially a longer time to graduate. Balancing the requirements for both majors can be demanding.
Time management and strong organizational skills will be essential to handle the workload effectively.
Possible Overlap in Concepts:

While accounting and marketing are distinct fields, they do intersect in areas such as budgeting for marketing campaigns or analyzing the financial impact of marketing strategies. Finding ways to integrate knowledge from both areas can be challenging but rewarding.
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Jordan’s Answer

An accounting major is always useful if you want to work in any sort of business field in my experience! As long as you are interested in what you study it's worth studying. I was a dual accounting and political science major and while I don't use my political science degree much, I'm grateful for it because it made me a stronger writer and a better presenter.
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William’s Answer

Dear Saksham,

I think that choice of both accounting and marketing is a beautiful blend and the skills from each could lead to a fruitful career. I would especially look into more information as to how a combination of both could be applied in the real world.

Best,
William Tu
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Dusty’s Answer

Hi there.

I agree with the advice given, to some extent. In the early part of your career, focusing on one over the other might be important, and in that regard I would pick accounting, because it's more versatile and marketable than marketing. However, as you progress through your career, marketing your brand and the offerings of your firm are also critical, so what you learn can be instrumental going forward. If you have the time and energy to embrace both, I would, but you're going to have to make one primary for a while, but there's no need to discard the one that is secondary. Good luck!
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