Even in times of economic downturn, the accounts show a persistently low unemployment rate. In times of profitability and less profitability, individuals and businesses still need help meeting their financial reporting needs. Career prospects for graduates of a bachelor`s degree program in accounting are good, but they are even better for those seeking graduate education. Other statistics from Georgetown University`s Center on Education and the Workforce indicate that unemployment from a bachelor`s degree or higher in computer science, engineering, and science (STEM) occupations is 2.5 percent. The category Management, Economics and Finance is 2.9% unemployment. If you think accountants can`t hold leadership positions, you might be surprised. Executive positions in certified public accounting (CPA) firms often offer six-figure salaries. Roles such as CFO, Controller and Chief Financial Officer (CFO) are opportunities for accountants with a lot of ambition, experience and training. However, many general business majors are underemployed after graduation, working in roles that do not require a university degree or are not relevant to their field of study. On the other hand, accounting majors can immediately work in junior accounting roles and work their way into senior accounting and management positions, especially if they choose to continue their education or certify professionally. Business degree programs can prepare students for potential management roles, but they still need to gain the work experience that will help them qualify for leadership opportunities. Although business administration and accounting are closely related, they have their differences.
The main difference between these two is the main focus of the major. Business administration does not deal directly with accounting, tax work and accounting, but with strategic financial planning. Accounting, on the other hand, deals directly only with financial matters. A business degree will help you gain skills in general administration, project management, business planning and research. Through courses in economics, finance, human resources, and marketing, you`ll gain skills in budget management, communication, time management, social media management, customer service, organization, monitoring, and teamwork, among others. When it comes to workload, most business leaders can expect a consistent workload throughout the year, with occasional periods of crisis approaching important project deadlines. On the other hand, accountants have distinctly quiet and busy seasons. Accountants will be extremely busy during financial reporting season, but the rest of the year is much more relaxed. Business leaders are more likely to work regularly with others in a highly collaborative work atmosphere that requires frequent communication.
Most business owners typically spend their days interacting with customers and working with a group of people. Human capital will always be a company`s most valuable asset. Human resources managers are responsible for human resource management, which includes recruitment, training, compliance, benefits, planning, retention, consulting and strategic planning, among others. The bottom line is that both fields are becoming more and more popular and promise good career growth. If you`re good at numbers and solve problems quickly, you can succeed in any path you choose. There is no right or wrong answer to this dilemma. If you have decided on a degree, you can apply today for the Bachelor of Arts in Accounting or Bachelor of Arts in Business Administration at BAU! Business consultants, also known as management consultants, help companies suggest ways to improve their efficiency. They give managers advice on how to make a business more profitable by reducing costs and increasing sales. In general, business consultants organize information about a problem, a design and improvement procedure, suggest new systems and organizational changes, and consult with managers to ensure that the changes work.
An accounting degree allows you to enter the workforce directly after graduation, and you can have a stable career path with that degree, especially after passing the auditor exam. In addition, you may occasionally take a refresher course to improve your skills. The business degree might launch you into a business, but if you want to stay competitive for higher positions, you may need to work towards a master`s degree in business administration. While this earning potential isn`t as high as some management careers, there`s certainly nothing to laugh about! Keep in mind that an accounting background can also be used to advance your career in other areas of finance, or even management roles, as you advance in your career. Salary expectations and job stability are always considered when evaluating your career options. When it comes to the debate between corporate governance and accounting, both paths seem to have strong prospects. Since accounting is a more focused curriculum than general business, this doesn`t mean students miss out on learning the fundamentals of business. Accounting programs require core courses in a variety of business subjects. After earning a degree in accounting, you can expect to develop your knowledge of generally accepted accounting principles and skills related to accounting research, financial reporting and analysis, mathematics and computer use, organization, critical thinking, communication, etc. According to reports from the Bureau of Labor Statistics (BLS), the employment rate in business and financial occupations is expected to increase by 8% from 2020 to 2030, helping to create about 750,800 jobs over the decade.
At the same time, the employment of accountants and auditors is expected to increase by 7%, with about 135,000 vacancies per year. An accounting degree aims to equip students with knowledge of financial accounting for businesses, governments, organizations, and other institutions. Some of the topics you will learn in this program include business accounting, public accounting, taxes, etc.