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Study Accounting and Finance

What are Accounting and Finance?

Accounting and Finance degree will not only teach you about money and how to control it, but also about management, business, and the relationship between these three things. There is slightly a difference between accounting and finance. Accounting focuses more on precautions within a business by doing information analyses. These analyses will clear up the financial problems and solutions. Finance is more related to the management and its funds. Although they differ a little bit from each other, there are aspects that include both.

Why Should You Study Accounting and Finance?

1. Get employed anywhere An Accounting and Finance degree is pretty much the same everywhere. You get to learn the same things no matter what school you will go to because it is all about numbers and calculations. If you work in a company–any company, industry or sector for that matter–it will be easy for you to apply your knowledge and theories because you don’t have to work in a business company to practice what you have been learning. You can also work for a retail shop, a magazine, or a launderette.

2. Everyone needs accountants Money is what keeps the economy growing. Every business needs to know what their revenue is, their loss, their costs, their investments, and a lot more. As a businessman or businesswoman, you do not have the time (or the financial skills) to keep track of your cash flow, so you have to let someone else do it for you, someone who spent their education learning about it. 3. Career diversity Studying for this degree does not necessarily mean you have to be an accountant. With this degree, you can also get to work as a tax consultant, a budget analyst, an audit, or work as a financial director.

What Skills do You Need?

A. Organisational Skills

Accountants are very busy people, they have a lot of responsibilities they need to manage. All those companies you have to work for, all have different cash flows and are from different sectors, so it can get very confusing. You as an accountant or financial employer, need to organise your work by using tools such as agendas, calendars, and programs that can help you stay organised.

B. Communication

Having math skills and being good with numbers is not all that is required from you. Your communication skills need to be excellent, no matter what job you have or what sector you work in. It will help you with the interaction between your clients, your boss, and your team. Having good communication skills will also be useful for networking, and that could get you even more clients.

C. Leadership

A leader is someone who will guide you through your career, they are the role models of a company, and they make themselves approachable. As a leader, you also have to be a visionary to foresee the future and see what solutions it can bring. In order to do that, your skills in strategic thinking need to be good as well.

D. Decision-making Skills

With this degree a lot of analysing and information digging will be happening, you will find out about where the losses come from, what revenues are the highest in what months, and how a company can optimise their return on investments (ROI). You need to take a decision on how a company can reduce costs or how to improve its ROI.

What are the Job Opportunities?

1. Accountancy Accountants manage financial data such as liabilities, profits and losses, and assets. They will analyse these records and prepare a report. They also prepare accounts and tax returns. Accountants could work for a private firm, a professional accountancy firm, industrial organisations, or for governmental bodies.