3 answers
Abigail
Student
Hammond, Indiana
1
Question
Asked
796 views
What is the difference between a Finance major and an Accounting major?
I know I want to major in anything business. I was thinking accounting or financing, but I do not know the difference between the two.
#business #accounting #finance
Login to comment
3 answers
Lauren Foss
Audit Associate
12
Answers
New York, New York
Updated
Lauren’s Answer
I had struggled with the same question when I was in college, and the introduction courses we were required to take really helped make that decision. At my university the introduction Finance course was dealing more with ratios and analysis of stocks, while my accounting courses was more looking at the entire business process and financial statements. The introduction courses greatly helped me pick accounting as my major and continue on to get my Master's in Accounting.
Jessica Bechaalani
AP Manager
8
Answers
Beirut, Beirut Governorate, Lebanon
Updated
Jessica’s Answer
While accounting focuses on the day-to-day management of financial reports and records across the business world, finance uses this same information to project future growth and to analyze expenditure in order to strategize company finances. So finance degree students will likely be more interested in financial strategy and control, while accounting degree students will be more focused on professional principles and processes, used in order to manage numbers rather than influence them.
You can check this link : https://www.topuniversities.com/courses/accounting-finance/accounting-vs-finance-which-should-you-study
You can check this link : https://www.topuniversities.com/courses/accounting-finance/accounting-vs-finance-which-should-you-study
Kellie (Kinsella) Casey
Internal Audit Senior Associate at PwC
13
Answers
Chicago, Illinois
Updated
Kellie (Kinsella)’s Answer
Hi Abigail -
This is a great question to ask. Most business majors are required to take classes in both accounting and finance prior to picking their major. They are considered the "baseline" courses for a business degree since it is very important to understand the basic concepts of both to understand how a business works.
In very broad terms, accounting focuses on the current transactions of the business and how the money operates throughout the business each day. It is literally considered keeping track of your money, including your revenue, expenses, assets and debts to make sure we can understand the current position of a company. Finance is more focused on the company's future performance and takes into consideration how to project how much a company will make as it operates. It also tracks performance against the previously projected earnings to explain trends in how the business is operating.
These are very broad differences, but understanding both is a key skill to be successful in business. Often times the two professions work together since both topics are very interrelated. Since you will be able to take both courses prior to picking a major, I would suggest keep track of which one you like best when you are in the classes and which one comes more naturally to you. This can be a great indicator of which one to choose!
Good luck!
This is a great question to ask. Most business majors are required to take classes in both accounting and finance prior to picking their major. They are considered the "baseline" courses for a business degree since it is very important to understand the basic concepts of both to understand how a business works.
In very broad terms, accounting focuses on the current transactions of the business and how the money operates throughout the business each day. It is literally considered keeping track of your money, including your revenue, expenses, assets and debts to make sure we can understand the current position of a company. Finance is more focused on the company's future performance and takes into consideration how to project how much a company will make as it operates. It also tracks performance against the previously projected earnings to explain trends in how the business is operating.
These are very broad differences, but understanding both is a key skill to be successful in business. Often times the two professions work together since both topics are very interrelated. Since you will be able to take both courses prior to picking a major, I would suggest keep track of which one you like best when you are in the classes and which one comes more naturally to you. This can be a great indicator of which one to choose!
Good luck!