Business Management vs. Accounting: Which Degree Is Right for You? (2023)

FAQs

Is a business degree or accounting degree better? ›

There is no definitive answer to this question. Business administration and accounting, although fairly similar, both have their own distinct qualities and even meeting points in the job market. The answer to which one is better, in this case, is subjective. It comes down to what you want to focus on.

If you've always been good at math and seeing trends and patterns in numbers, and you consider yourself a skilled communicator who can relay complex data analysis to others, then an accounting major (and career path) may be for you.

More job opportunities: Accountants work for many businesses across a variety of industries. Graduated from an accounting program may find more open job opportunities. Higher earning potential: An accounting degree can help professionals qualify for advanced roles and higher incomes.

Generally speaking, people consider accounting majors to be more difficult to study and pass than finance majors. And there are a few different reasons for this. The content of accounting majors is, on average, much more technical than for finance majors, and this can make it more difficult.

If you decide against a degree in accounting, alternative degrees for would-be accountants include maths, economics, business, management and finance. Remember that graduates of all subjects can pursue this career path.

A business management degree can help prepare you for a range of career opportunities across numerous industries, including positions leading people. Graduates of business management degree programs can pursue careers in finance, human resources, information security, marketing and more.

The accounting field has plenty of great opportunities waiting for you. You can work in various industries and roles to fill your career with purpose. With great pay, opportunities for growth, and the chance to help businesses grow into the next decade and beyond, accounting is a great career path to pursue.

For some, they may enjoy working with financial reports in their daily work. Others may be attracted to the constant learning aspect that comes with working in accounting. Another alternative may be just enjoying using mathematics and the skills that come along with a math-focused career.

To study at university, you will need to take mathematics and finance subjects. But to study with a private college or distance learning institution, you don't need any prior knowledge on this topic. Here at Skills Academy, we offer our programmes via Open Access.

What is the most important business degree? ›

Master of business administration

Strong leaders are essential in the business world. The perfect degree for anyone interested in acquiring strong leadership skills and getting top leader jobs is an MBA (master of business administration).

A bachelor's degree in business administration offers a broad grounding in the world of commerce and a bachelor's degree in finance tends to be more specialized, placing greater emphasis on investments and financial institutions. U.S. Bureau of Labor Statistics (BLS).

Accounting can be a very challenging major and takes four years of serious commitment to complete. With difficult classes, intense curriculums, and very little free time, many international students find that accounting may not be right for them and decide to leave the field.

It also requires a strong understanding of business operations and the ability to use financial data to make sound decisions. In other words, accounting is more than just math—it's a complex and challenging profession requiring specialized knowledge and skills.

Earning a bachelor's degree in accounting can help qualify you to sit for the certified public accountant (CPA) exam. With a CPA credential you can find more positions at advanced levels. However, to meet the full educational requirements for CPA licensure, many candidates choose to obtain a master's degree.

You'll learn about managing resources like personnel, finances, and physical elements. You'll learn about managing processes and procedures, strategies, and more. You'll also gain a working knowledge of other business disciplines like marketing, human resources, accounting and finance.

Always in demand

As long as there are businesses, managers will always be in demand. Studying Business Management gives students knowledge of business, finance, economics and marketing, making them highly sought after by several different sectors and employers.

The accounting field focuses solely on accounting practices, principles, and theories. Meanwhile, business administration places an emphasis on business management and operations. An accounting degree prepares learners to consult and manage financial matters for businesses, governments, individuals, and organizations.

For example, the average yearly salary for someone with a bachelor's degree in business management is $60,000, $75,000 with a master's degree, and $122,000 with a doctorate degree in business management.

Introverts tend to do well in accounting positions because many require little to no contact with others. For the most part, accounting jobs for introverts don't require much social interaction. Contact is often limited to working with clients and reporting findings to management via reports, emails or e-meetings.

Why do people love accounting? ›

You get to spend your time helping people

It could be the perfect career. Accountants help their clients all day long, especially ones who work for an accountancy practice. We think helping people solve their problems and achieve their business goals is a pretty rewarding way to spend your time.

The field of finance and accounting is an essential pillar of the business sector, as many organizational achievements are measured in financial growth. Students choosing a college major should understand that knowing the ins and outs of accounting and financial management are marketable skills for numerous careers.

The 3 types of accounting include cost, managerial, and financial accounting. ​​ Although 3 methods of accounting are both vital to the healthy functioning of a business, they have different meanings and accomplish different goals. Let's dive into each of each below.

The key point to a self-introduction for an accounting interview is to be precise about the strengths and achievements you mention. Give examples of what sets you apart from the other candidates. You can start with: your work experience, skills sets, key strength, and then finish with your career objective.

Some of the advantages of accounting are Maintenance of business records, Preparation of financial statements, Comparison of results, Decision making, Evidence in legal matters, Provides information to related parties.

While a business management degree only requires a couple of pure math classes, many of the degree's other requirements, such as economics, involve a lot of number crunching.

But while business management is indeed a challenging and complex field to navigate, and while there is a lot to learn in preparation for a successful management position, that doesn't mean this is a subject you should avoid.

Based on the credits and notional hours of this qualification, the minimum duration is six (6) semesters over a period of three (3) years, and the maximum duration is nine (9) years.

What is the most flexible business degree? ›

Business Management is an extremely flexible degree that allows you to explore a variety of fields: project management, data analytics, financial decision-making, leadership strategies, human resources, logistics and supply chain issues, and more.

A Bachelor's in Business Administration gives you a solid foundation, along with real-life examples and experience that you can use to nurture your own business idea. Business Administration degree programs teach you the fundamentals of how big and small companies run and where they fit into the global marketplace.

With a business administration degree, you can start a career in almost any industry: business, consulting, manufacturing, banking, advertising, or even music.

The coursework in a business degree varies, but typically covers finance, management, marketing, communications, and related areas of study. Degrees in finance emphasize the workings of financial institutions and cover topics related to both corporate and global finance.

I chose to study Financial Management because of the versatility of it's course outline. I also chose this course because right there and then when you finish studying this course it would give multiple working opportunities as well as you can be very versatile into different kinds of job opportunities.

An accounting certificate can be offered at the entry-level to those with no experience in the field or at the post-baccalaureate level for more specialized training in the field. A certificate in accounting can be useful if you want to try working in the field before dedicating two or four years to earn a degree.

While accounting does require a complex set of skills and abilities, as well as excellent attention to detail, it really isn't any more difficult than many of the other popular fields of study that lead to excellent lifelong career opportunities.

Yes, accounting is stressful.

Helping people file their tax returns can also be stressful because they all need it done within a four-month window, and a small mistake can affect both your client and your career. However, your level of stress largely depends on you, your role, and your work environment.

Accounting isn't hard-core math. It's basic addition, subtraction, multiplication, and division. Possibly some light, entry-level algebra, but that's it.

If you don't have an accounting degree, you can still become a CPA, you will likely just need to catch up in the following areas: Earning the minimum number of accounting credit hours. Earning the minimum number of business credit hours. Obtaining relevant experience.

Is a Bachelor Degree in accounting enough? ›

Can a person still get a job in finance even if they have a bachelor's degree in accounting? Yes, and many people do. The reverse is harder, because some accounting certifications such as the CPA require a degree in accounting. Most people don't end up in jobs that match their college majors.

To summarize, accounting career salaries can range anywhere from $40,000 – $120,000 annually depending on education, certifications, business location, and especially years of experience, with an overall average of $70,000 to $130,000 annually with a 6% job growth rate by the year 2030.

It can be very difficult to get that first accounting job. Employers want a candidate with accounting experience, but you can't get hired to get the experience. Fortunately, there are a variety of ways to get your foot in the door. With a bit of creative thinking, you can persuade an employer to give you a chance.

The field of finance offers more career choices but also less predictability. In some cases, careers in finance might offer higher pay. Careers in accounting can offer more predictable and stable work but less pay in many cases.

The core difference between these two business programs is the focus on accounting and financial management. BBA focuses on a wide range of business-related subjects whereas accounts and finance are the core subjects of the program BS Accounting and Finance. This eventually leads to the difference in the career path.

A bachelor's degree in business administration offers a broad grounding in the world of commerce and a bachelor's degree in finance tends to be more specialized, placing greater emphasis on investments and financial institutions. U.S. Bureau of Labor Statistics (BLS).

Based on NACE data, those who had a bachelor's degree in finance tend to have slightly higher starting median incomes than those with accounting degrees. In 2023, the median starting salary for finance majors was $61,456. On the other hand, the median starting salary for accounting majors was $53,444.

Is Accounting a Good Major? The short answer is a resounding yes. If you want to work in accounting, finance or business, getting a bachelor's or master's degree in accounting is a great investment in your career.

With a CPA credential you can find more positions at advanced levels. However, to meet the full educational requirements for CPA licensure, many candidates choose to obtain a master's degree. Earning a master's degree in accounting can lead to even more high-level and lucrative positions.

Accounting can be a very challenging major and takes four years of serious commitment to complete. With difficult classes, intense curriculums, and very little free time, many international students find that accounting may not be right for them and decide to leave the field.

Is BBA enough to get a good job? ›

So, if you want to be a marketing guru, a successful business administrator, and a successful manager or want to learn the intricacies and nuances of management and pursue a professional career in banking and finance, BBA would be the most suitable career course for your future.

The highest-paying business majors include marketing, finance, and international business. Management and human resources management also rank in the top five business majors with the highest salary potential.

Choosing a business degree will give you a good understanding of basic economic principles, how markets are affected by world events, and how to assess a firms' financial health. Combined, this can help you make better-informed investment decisions and ultimately, how to achieve a higher ROI.

Though there are many differences between finance and accounting, the main thing to note is that those in the finance industry offer more long-term advice, and focus on promoting future growth, whereas accountants advise for short-term impacts.

The current employment landscape sees a high demand for accounting degree jobs, such as accountants and auditors. According to a report by BLS, employment for auditors and accountants is projected to grow to over 1.4 million by the year 2029 (U.S. Bureau of Labor Statistics, 2021).