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 Accountancy vs Finance Major
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Posted on 01-02-08 11:55 PM     Reply [Subscribe]
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Hi All :

I'm currently pursuing my Undergraduate Degree and majoring in Finance and Accountancy. As of now, in my junior year, I've found myself being more keen on the Finance sector than Accountancy. My question is to all the grads who either/or majored in both areas. What are the scopes of both? Like I said, I'm more interested in Finance sector and provided that Finance sector is where I could blossom my career into, I'm willing to disrupt my pursuit of Accountancy major and take some more computer courses that add some extra depth to my degree. Perhaps the likes of Eminitrader and co could feed some information on this?

Looking forward to getting your responses. Thank you all and hope everyone's staying warm this late Wednesday night / early Thursday morning.

 

Last edited: 03-Jan-08 12:05 AM

 
Posted on 01-03-08 2:15 AM     Reply [Subscribe]
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Posted on 01-03-08 6:03 AM     Reply [Subscribe]
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Accounting vs Finance

So, you want to know if finance is it for you?  Here is my take for you to decide if you are pursuing the right major:

-Did you score a B+ or better on all math and bus core subjects, i.e. stats, econ, investments, fin. instruments, corp finance, cap markets, calc I (up to differential equations)?

-Do you have basic accounting knowledge (i.e. you need to be fluent in extrapolating numbers from cash flow, income, and balance sheet statements).  

-Can you create a macro with medium level complexity in Excel? In addition, have you learned a computer programming language, if not, are you willing to?

-Do you like the notion of quantitatively deriving numerical values from formulas/calculations all day, and supporting your derivation qualitatively with an above average (if not world-class) writing ability?  

-Do you have above average presentation/verbal skills, i.e. do you feel comfortable getting in front of ppl and presenting your work?

-Do you think your interpersonal skills are second to none? Are you very opinionated? Can you quickly support your statements with actual facts or spot-on examples? An outgoing personality adds a lot of value, believe it or not.

-Do you have passion for the financial markets- fixed income/capital markets, equities (public/private), f/x, derivatives, futures, etc.?

-And lastly do you think Gordon Gekko is your hero :) ? 

For accountants, it's a whole different ball game. They MUST abide by strict rules. Sure, they have a lot of leeway, but the bucks stop where GAAP begins.  But accountants play a very important role in keeping corporate books clean- finance ppl depend on these numbers to make vital decisions.

In finance- it's all about how you support your numbers, whether they be simple facts or persuation. Timing is obviously critical, as window of opportunity ceases to exist sooner than later.

Remember that accountants do not need to know finance to do their job- in contast, finance person must know limited accounting to perform their job.

Does this help? :)


 
Posted on 01-04-08 5:22 PM     Reply [Subscribe]
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I'm really confused Javabeans... Pre-Calc is the highest class that I've taken in maths section while I don't have a good computer background so far... and for Accountancy, I'm gonna have about 127 credit hours by the time I gruaduate..basically meaning that I'll need an extra 23 credit hours to sit down for CPA tests....

 

Thanks for the input though....but I'm more confused than ever now.


 
Posted on 01-04-08 8:43 PM     Reply [Subscribe]
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as for job starters, i guess its easily to get entry level job in accounting...bt as u climb on the hierarchy, finance gets you somewhere top!!
well thnks javabeans for the info!!!
keep posting dude!!



 
Posted on 01-04-08 9:45 PM     Reply [Subscribe]
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I liked most of the Javabeans' suggestions barring a few.

First, as Quakmire is graduating with undergraduate degree just now, I think it is too early for him to possess all these qualities. Once s/he gets into the job, s/he can develop her/his skills gradually.

Second, as far as the skills set is concerned, I don't believe everyone entering into the finance field possesses all those qualities. Definately if you have good communication skills and are good at numbers/mathematics, you can do better. 

As suggested by rituman, it is easy to get foothold in to the companies with accouting major. 


 
Posted on 01-06-08 6:23 AM     Reply [Subscribe]
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Quag,

Given your response, I'd say stick to accounting. All the more so if you are on a student visa, and need to go through some legalization path. Accounting firms are more likely to sponsor you than say banks or investment companies.

Finance sector is very confusing and hazy- due diligence is a must. The ones that can point the path or show the light at the end of the tunnel are very handsomely rewarded in this industry. I just don't think being an average student makes one a good candidate to work in the industry. An exceptional student (or with about 18 months of Fortune 500 experience) with passion for finance usually do well.

Good luck!

JB

 


 
Posted on 01-06-08 6:50 AM     Reply [Subscribe]
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double major??!! sure why not!
 


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