Accounting Degrees! Confused! where to start? what to choose from available accounting degrees to kick start your career!
Here, in this article, you are given detailed and tempting information about the field of accounting. And after reading this, you may not think twice to go for it.
As a beginner, you must keep in view your interest, aptitude, and most importantly market condition before pursuing any degree. If you are advised by someone to go for an accounting degree. And you wonder why should I study accounting?
So, let’s start exploring.
Why Should I Study Accounting?
There is a huge number of different degrees offered all around the world. But the question is what to opt? which degree will lead you to a better and secure career?
On the path to success, it is necessary to choose the field that best fits you. However, to answer the question like why I should study accounting is concerned. Let’s have a look at some major reasons why you should study accounting.
Studying accounting opens many doors for you to the best future. As you have a huge range of different interconnected careers. For instance, after pursuing accounting as your major subject, you have all these options: business management, finance management, risk management, business analysis, entrepreneurship, auditing, etc.
There is an advantage for accounting student if he is not able to get any job. After studying accounting. Moreover, he has a great foundation to become an entrepreneur and can lead his own business. As he now possesses basic knowledge about how a business runs, how to manage his business, how to do marketing of his products, and how different industries work. Thus, this will be a great privilege for him to lead his business.
- Secure career
- Path to Success
- Highly paid jobs
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Types Of Accounting Degrees
There are different accounting degrees offered. As a student, you may find difficulty in choosing among these degrees. Here is some detailed information given about different accounting degrees. This may help you in opting for a degree to have your desired career.
ACCA ( Association of Chartered Certified Accountants)
This is one of the most advanced degrees in accounting. In this course, there are 13 exams divided into three levels. The first level is based on applied knowledge. The second level is based on applied skills. While the third is based on strategic professionals. Where a student is prepared in such a way to be able to showcase their knowledge, skills, and strategies accordingly. Most importantly, if you want to work internationally then, among all other degrees, ACCA can be one of the best options as ACCAs have international acceptability. On the other hand, it is known that ACCA is the most expensive degree which may become the reason for you to not choosing it. But keeping in view your career you may not consider these minor differences and opt for better career opportunities in the future.
Fail and pass ratio
As far as the fail and pass ratio is concerned. Before putting your hand on this degree, it is really important to know the pass and fail ratio of this degree. Because in this degree, the failure ratio is far more higher than the pass ratio. It is really common for ACCAs to get fail.
After completing this degree, students are able to work in management and cost accounting areas. If you have an interest in management then you may opt ACMA. Furthermore, ACMA degree holders may not enjoy international recognition as much as the ACCA do. Moreover, if you are thinking of choosing between ACMA and ACCA. Then ACCA is the best option as it is an internationally recognized degree. Similarly, ACMA’s don’t enjoy international acceptability as much as ACCA’s do. But ACMA will also be a better option as it is a vast field of accountancy and management. Best of all, it is less expensive than ACCA. However, the syllabus of both fields resembles to some extent.
CA (Chartered Accountancy)
CA is one of the leading accounting degrees. It may lead you to the best and most secure career paths. As it has zero unemployment rate with highly paid jobs. CA’s are provided with technical knowledge that helps them manage finance and accounting. This is the degree recognized all over the world. You must have to have strategic thinking and a lifelong learning desire to opt CA.
• Associate Programs
The associate program is commonly known as a two-year program. In this program, students have exclusive opportunities to learn finance and accounting. An associate degree holder is able to do entry-level jobs. Criteria for the associate program is to have 12 years of education. The associate program is designed to make proficient in accounting and finance.
• Bachelor’s Degree
It is a four-year program offered by universities. A student who is interested in finance and accounting fields may opt bachelor’s degree program. The most important question that arises here is what can I do with my accounting bachelor’s degree? A bachelor’s degree prepares students for entry-level and mid-level jobs. Here is a list of jobs or accounting careers that you can do after completing a bachelor’s degree.
- Loan Officer
- Budget analyst
- Internal auditor
- Financial analyst
- Financial accountant
- Management accountant
- Chief financial officer
- Tax specialist
- Financial Advisor
After going through this list, you may not think twice and go for the Bachelor of Accounting Degree program. As it has a broad range of accounting degrees jobs available.
• Master’s Degrees
A master’s degree in accounting help students gets higher-level jobs. This degree builds a very strong foundation in students and skilled them to work as finance managers and accountants. After completing this degree, students are able to work in the insurance company, finance division, bank, and taxation sectors. Thus, a master’s degree in accounting can lead you to a better career.
Ph.D. in accounting is the highest degree of accounting. For Ph.D., students are required to do research-based study. The criteria to apply for Ph.D. is to have completed 18 years of education or equivalent. As this is a research-oriented program. Similarly, the jobs with an accounting degree (Ph.D.) you are likely to get are research-based. If you are interested to work as a professor in the university, researcher, or business consultant jobs. Then PhD in accounting will be the best option.
- There are different types of accounting degrees offered, you can choose one which fits you.
- Studying accounting opens doors to a huge range of different interconnected careers.
- If you don’t want to do any job, you can start your own business as now you have the basic knowledge to start a business.
Hira Aziz - Author
She is a Business Content writer and Management contributor at 12Manage.com, where she contributes a business article weekly. She has over 2 years of experience in writing about accounting, finance, and business.