Graduates with a degree in accounting and finance are highly sought after by employers. While the demand for graduates has increased in recent years, the Bureau of Labor Statistics predicts continued growth through 2026. Accountants and financial analysts are expected to see 10 percent growth in the US, with the fastest rate of growth expected in computer systems design and related services and general financial investment activities. However, even in this challenging economy, graduates may find a variety of job opportunities that fit their interests and skills.
Accounting and finance are closely related. Both have different goals, but they both focus on measuring economic returns and analyzing the data. While accounting measures the value of assets and liabilities, finance considers how cash flows in and out of a company. Both involve cash exchanges and the use of financial instruments. In addition to accounting, finance also includes the study of money and other assets and liabilities, budgeting, and forecasting. Accounting is an integral part of the business world, as it makes many business decisions.
The most important financial measure is the free cash flow. This measure shows how much a business can spend or reinvest, and helps businesses decide whether to produce a product. Many people consider accounting to be a subset of finance. Accountants work under a standard set of rules called Generally Accepted Accounting Principles to maintain accurate financial records for businesses. They manage the general ledger, as well as cash flow and tax obligations.
The difference between accounting and finance is often based on a student’s interest in the two disciplines. While accounting focuses on day-to-day management of financial records, finance uses these same records to forecast company growth and strategize the business’s finances. Therefore, students with a finance degree are likely to be more interested in the strategic financial aspects of business. Accounting and finance work closely together to create the most effective business models.
Graduates of accounting and finance programs are in high demand. Twenty-five percent of full-time postgraduate students in the UK are studying FAME-related programs. This is largely because these fields require highly specialised workers. Employers are seeking graduates who can keep up with the constant changes in markets, new technologies, and emerging industries. Graduates with degrees in finance and accounting gain a deeper understanding of surface-level processes and are better equipped to adapt to changing environments and make sound business decisions.
Those with a degree in accounting or finance may focus on helping people to reach financial goals. While finance focuses on analyzing mathematical data and making investment decisions, successful professionals in this field are also adept at interpreting numbers. For a career in finance, both majors should consider their areas of interest. Accounting and finance fall under the BLS’ business and financial occupations category, which is projected to grow faster than the national average through 2028.