When it comes to choosing the right Bachelor’s degree abroad, you might get confused about Accounting vs Finance, which are often seen as the same thing, but they are more like a cake and a piece of cake. In other words, Accounting is part of Finance, but Finance has a much broader scope and is more complex than Accounting.
Accounting Bachelor’s degrees versus Finance Bachelor’s degrees
Doing a Bachelor’s in Accounting will prepare you to record transactions and analyse financial statements, in order to have a clear picture of a company’s financial health. Yes, it is a lot of paperwork, and you have to be a numbers’ fan.
Doing undergraduate studies in Finance means you will learn about long-term financial and budget planning. You’ll find out how to make sure a company reaches its financial goals. Finance activities involve raising funds, and gathering cash flow info from the accounting department so you can make financial predictions.
As an accountant, you will deal with numbers expressing sums which reflect owed taxes, tax returns, income and revenues, and so on.
As a financial analyst, you will draft budgets, compare them and come up with the best option to reduce financial risks and uncertainties.
To sum up, both Accounting and Finance deal with managing money, but they are used for two very different purposes. To put it simply, Accounting deals more with what happened in the past, whereas Finance is about making good predictions for the future.
Differences between courses during an Accounting and a Finance degree
Some countries have more study options in Accounting, while others have more in Finance. Looking at this will also give you a good idea about which country has better job prospects after graduation. For undergraduate degrees in Accounting, you can check:
- Bachelors in Accounting in the United States
- Bachelors in Accounting in the United Kingdom
- Bachelors in Accounting in Australia
- Bachelors in Accounting in Ireland
If you are planning on doing undergraduate studies in Finance, you should check:
- Bachelors in Finance in Canada
- Bachelors in Finance in the United States
- Bachelors in Finance in China
- Bachelors in Finance in the Netherlands
The best universities for a Bachelor's degree in Accounting or Finance
As we are living in the age of capitalism, both specialisations are in high demand. Therefore, it is no surprise that you can find Bachelor’s degrees in Accounting or Finance at almost any university. That’s why you should choose an academic institution carefully and try to find out more about what it has to offer.
Based on the rankings created by Times Higher Education, these are the best universities and colleges for Accounting & Finance studies:
Best accounting & finance schools in Europe
- London School of Economics and Political Science (LSE), UK
- ETH Zurich, Switzerland
- University of Warwick, UK
- Erasmus University Rotterdam, Netherlands
- Copenhagen Business School, Denmark
- Tilburg University, Netherlands
- University of Manchester, UK
- University of Mannheim, Germany
- LMU Munich, Germany
- Pompeu Fabra University, Spain
Best accounting & finance schools in the rest of the world
- Massachusetts Institute of Technology (MIT), US
- Stanford University, US
- Duke University, US
- University of Chicago, US
- University of Pennsylvania, US
- Harvard University, US
- Northwestern University, US
- National University of Singapore, Singapore
- Columbia University, US
- University of Michigan-Ann Arbor, US
Finance and Accounting careers and salaries
Because the two specialisations differ, it is only natural that the jobs you can get also vary. Here are some typical jobs you can do with each degree and the average salaries in the US according to Glassdoor.
Jobs with an Accounting degree
- Accountant – 53,700 USD/year
- Auditor – 56,600 USD/year
- Accounting Assistant - 50,350 USD/year
- Bookkeeper – 30,800 USD/year
- Payroll Clerk – 36,800 USD/year
Jobs with a Finance degree
- Financial Advisor – 54,900 USD/year
- Financial Planner – 57,900 USD/year
- Budget Analyst – 57,450 USD/year
- Credit Analyst – 52,750 USD/year
- Actuary – 97,750 USD/year
Whatever Bachelor’s or Master's degree you choose to pursue, going the way of the numbers and learning to work with them and loving them is a future prospect that will bring you great satisfaction at the work place. Good luck and have a great study experience!