The Difference between Accounting and Finance

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  • เผยแพร่เมื่อ 28 มี.ค. 2024
  • ZACH DE GREGORIO, CPA
    www.WolvesAndFinance.com
    A description of the differences between the two subject areas of Accounting and Finance. There is a lot of confusion about the difference between these two fields. In business school, Accounting and Finance are two separate areas of study. They use two different tools and skill sets to accomplish their goals. These are pretty large generalizations, but it is valuable to understand the distinction between the accountant role and finance role in an organization. Accountants are primarily concerned with a goal that is historical looking. In finance, the goal is future looking. The goal of Accountants is to create a set of financial statements that represent the financial standing of a company at a point of time. They are concerned with all the historical economic activities that have led up to this point. Finance starts with the financial statements from the accountants. Finance is then concerned with defining their assumptions about the future, and that informs the business decisions on how to best use the available cash in the best way for the future. The reason this is important is because it informs two different definitions about risk. Accountants and finance professionals are talking about two different things. Accountants are concerned with material misstatements. They are trying to minimize that risk as much as possible. Finance people have a different relationship with risk. They embrace risk, because there is always an element of risk when you deal with the future. Finance is concerned with the variance between the assumptions and what actually ends up happening. Risk is very important to finance professionals, and risk plays a big role in determining valuations. For a finance person, it becomes about managing your risks. This description is focused on working in a corporate environment. Investing, on the other hand, is a unique area of finance. But investing still deals with managing risk through assumptions of the future. Both roles of accountant and finance professional are incredibly important. The business leader needs to understand both the company’s performance historically, and the best options to get performance in the future. When accounting and finance work together, they can enable decisions that are in the best interest of the company.
    Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.

ความคิดเห็น • 240

  • @christianrockr08
    @christianrockr08 7 ปีที่แล้ว +33

    Who knew Hawkeye was a business professional/cpa in his spare time?
    Kidding, thanks for the video! It was really helpful, I wish that I'd had one of my accounting professors explain things this easily and clearly before!

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +3

      Ha! People have used that comparison before... I am glad you found the video helpful. Keep watching!

  • @jiujitsuconcepts
    @jiujitsuconcepts 7 ปีที่แล้ว +19

    very well stated explanation. I enjoyed how you explained the difference relative to time perspective (past vs future) and risk definitions.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +2

      Thank you! It's good to hear people enjoy it

  • @yehiaabed3315
    @yehiaabed3315 6 ปีที่แล้ว +11

    thanks a lot, i totally understand that you were talking slowly, because you did not want to miss out any detail.

  • @MF-bi8ke
    @MF-bi8ke 6 ปีที่แล้ว +55

    Accounting is about recording financial transactions, finance is about managing money and financial flows on the basis of accounting data

    • @mubasharali5481
      @mubasharali5481 5 ปีที่แล้ว

      Moulay El Mehdi Falloul perfect

    • @donelion6459
      @donelion6459 4 ปีที่แล้ว

      @Teringventje no we don't .

    • @rahulsingh8230
      @rahulsingh8230 3 ปีที่แล้ว

      @@mubasharali5481 oaa

    • @makiyashoukat8807
      @makiyashoukat8807 3 ปีที่แล้ว

      amazing bro.

    • @JohnKim-vr3xc
      @JohnKim-vr3xc 7 หลายเดือนก่อน +1

      Hi may be one day you will run for office good luck 😅

  • @fet1612
    @fet1612 4 ปีที่แล้ว +2

    01:44
    Accounting is HISTORICAL. Finance is FUTURISTIC.
    Brilliant, Zach. I like all your videos. But this one. Immaculate. What a perspective of differentiating between the two. God bless you!

  • @orangzebmalik7548
    @orangzebmalik7548 7 ปีที่แล้ว +15

    Great video.. Today I know what's the main difference between accounting and finance. You nailed it.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +2

      Thank you! I'm glad you found it helpful!!

    • @davidrobertson1756
      @davidrobertson1756 5 ปีที่แล้ว

      Good intel for small and growing businesses. The differences between Accountant, Bookkeeper, CFO, Controller and CPA roles and when to enlist each in your business. Article (The A-B-Cs of accounting and finance): www.ingeniosolutions.com/jeans-tips/abc/

  • @Mackandal1758
    @Mackandal1758 7 ปีที่แล้ว +2

    I have been looking for many videos to explain me the difference so I can share it with my daughter who is planning to go to Business and don't know if she should take Accounting or Finance.
    You nailed it and explain it in such a simple way that a 2 year old can understand the difference.
    Thank you for sharing your knowledge with us!!!

  • @Zuli55
    @Zuli55 6 ปีที่แล้ว +28

    Watch on 1.25 speed

  • @warriorlink8612
    @warriorlink8612 3 ปีที่แล้ว +1

    Understanding both is a recipe for success

  • @andraiancu3017
    @andraiancu3017 7 ปีที่แล้ว +16

    Great video ! Thoroughly enjoyed it !

  • @mariagallegos99
    @mariagallegos99 3 ปีที่แล้ว +1

    This made the differences so much clearer, thank you!

    • @anatitan5546
      @anatitan5546 2 ปีที่แล้ว

      Hi Wolves of Finance ,
      I deeply admire what Wolves & Finance are. Your low viewers ship maybe because of the field of accounting is a special talent that is underappreciated.
      A.I. needs certified experts to run the finance technologies.
      Many young American do not understand how these protocols work.
      Maybe,you can introduce & explain the rancor & political science of this field.
      By the way,your wonderfully entertaining.
      If you see the titles of City of Reno Council Meetings.
      We are dead smack in the middle with a battle in court with California. It is an old court bankruptcy battle between NV.& Calif.
      Landmark cases affect other cases around the country.
      We need to know.
      Transmission sent from
      Mount Rose,
      Lake Tahoe-RenoNV.
      10.11am
      4.5.22

  • @abduljaleel7357
    @abduljaleel7357 3 ปีที่แล้ว

    Very useful video

  • @utubejunkie21
    @utubejunkie21 7 ปีที่แล้ว +8

    Zach! We had a class together at UNM. Glad to see you are doing so well. Congratulations on the CPA and the book. Kate

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      Thank you! Glad you saw my video!

    • @vincesolstice1342
      @vincesolstice1342 7 ปีที่แล้ว +2

      +WolvesAndFinance reuniting 😍

    • @Lazymath007_
      @Lazymath007_ 3 ปีที่แล้ว

      You guys should totally get married.

  • @fallyhag
    @fallyhag 6 ปีที่แล้ว

    Many thanks for taking the time to create and share this informative video. I came away a little wiser and realised you were right; not many people do know the difference.

  • @Ryan-xb1ry
    @Ryan-xb1ry 4 ปีที่แล้ว

    Great video! thank you for speaking so clearly and patiently. Good for non-native English speaker like me!

  • @larahporter8123
    @larahporter8123 ปีที่แล้ว

    Hey Zack I still go back to your videos!! This is a great explanation!!!

  • @FaheemProductions
    @FaheemProductions 5 ปีที่แล้ว +8

    Thank you very much for all the help and information about Finance. I will be taking Major in Finance in both BBA and MBA. What type of job would I need to take in the field of Finance? 😊

  • @gaming2top759
    @gaming2top759 6 ปีที่แล้ว

    Finishing before the summer my finance degree... I wish I found this channel when I started. It took me a while listening to teachers to get to proper difference between accounting and finance....

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +2

      Thanks for watching!

    • @johnbenjamin9937
      @johnbenjamin9937 5 ปีที่แล้ว

      Gaming2TOP then look at MBA in Accountancy or MS CPA exam jb

  • @rushdHBTS
    @rushdHBTS 4 ปีที่แล้ว +5

    In some countries and organizations both Finance and Accounting tied in the same department.
    1) General Accounting
    2) Financial Accounting
    The General Accounting deals with mostly Static matters like inventory, Property and Equipments etc.
    The Financial Accounting is subject of Dynamic things like Cash Flow , Stocks, Foreign Currency etc .
    Risk in General Accounting are like Theft , Fire , Damage due natural Calamity etc .
    Risk in Financial Accounting like
    Liquidity Crisis, Credit crunch, Fluctuations of Stock price and also Currency fluctuations and Devaluation.

    • @WolvesAndFinance
      @WolvesAndFinance  4 ปีที่แล้ว

      This is a good breakdown. Thank you for watching!

  • @pashereef2713
    @pashereef2713 4 ปีที่แล้ว

    Beautiful explanation
    Thank you 😊 so much

  • @maureenoconnell8181
    @maureenoconnell8181 7 ปีที่แล้ว +1

    Very well explained the two concepts. Good Finance decisions can be taken only based on the data provided by the accounts team. Therefore, the accounts team must be as reliable as the finance team.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      Thank you Maureen! By the way, I really liked your article "Re-envisioning the CFO as a Chief Future Officer." maureeneoconnell.com/re-envisioning-the-cfo-as-a-chief-future-officer/

    • @maureenoconnell8181
      @maureenoconnell8181 7 ปีที่แล้ว

      WolvesAndFinance Thanks for the appreciation.

  • @md.mehedhiislamneloy9002
    @md.mehedhiislamneloy9002 3 ปีที่แล้ว

    Best Explanation Ever! Thanks

  • @sakshikothari7689
    @sakshikothari7689 4 ปีที่แล้ว +1

    Very beautifully explained. Thank you sir :-)

  • @sloome100
    @sloome100 8 ปีที่แล้ว +2

    Thank you for those helpful videos. Keep up your work

    • @WolvesAndFinance
      @WolvesAndFinance  8 ปีที่แล้ว

      +Sloom Thank you! More great Finance discussion to come...

  • @abdiwelimohamed1632
    @abdiwelimohamed1632 7 ปีที่แล้ว +7

    This is amazing video ...even google can't answer this question!!!!! ..brilliant man

  • @yassereltayeb
    @yassereltayeb 7 ปีที่แล้ว +5

    Good video. Thanks. 😊

  • @paulhan7770
    @paulhan7770 2 ปีที่แล้ว

    Great video bro

  • @thuydang7432
    @thuydang7432 6 ปีที่แล้ว

    video is useful. thanks for sharing

  • @sirprozzychannel9157
    @sirprozzychannel9157 ปีที่แล้ว

    I like your style of videos man.
    Keep it up ✊✊✊

  • @mahmoudel-emam1883
    @mahmoudel-emam1883 6 ปีที่แล้ว

    very good video to explain this issue

  • @shyamasen
    @shyamasen 6 ปีที่แล้ว

    very much informative. as a fresher pick some short of knowledge, it's really important to distinguished between these two.

  • @millionsformillennials4834
    @millionsformillennials4834 7 ปีที่แล้ว

    Thank you for the distinction in this video. You should keep these up

  • @DrLakeciaReddrick
    @DrLakeciaReddrick 6 ปีที่แล้ว +4

    Great video!!! Thanks for uploading it. I was looking for information like this to make my decision for my doctoral program concentration.

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +1

      Thank you. Good luck on your doctoral work!

  • @mnash3
    @mnash3 6 ปีที่แล้ว

    Cool vid... Excellent statements. Thanks for sharing your perspective.

  • @shymkent
    @shymkent 7 ปีที่แล้ว

    Excellent video, thnx for posting it

  • @crisarouca6932
    @crisarouca6932 3 ปีที่แล้ว

    Wonderful video ! Thank you

  • @catherinematthew3364
    @catherinematthew3364 8 หลายเดือนก่อน

    You are amazing!!!!

  • @ibrahimalrumaih3869
    @ibrahimalrumaih3869 6 ปีที่แล้ว

    Thank you for this inform, Much appreciated

  • @elizabethc7696
    @elizabethc7696 6 ปีที่แล้ว +1

    Thanks for sharing this helps a lot.

  • @shabdullah2597
    @shabdullah2597 6 ปีที่แล้ว

    thanks a lot for your effort...👍keep up

  • @TheAngelinan
    @TheAngelinan 7 ปีที่แล้ว

    Thank you for making this video. It's so helpful.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +1

      You're welcome. Thank you for watching!

    • @samis8098
      @samis8098 7 ปีที่แล้ว

      WolvesAndFinance Finance is fun, in fact the only thing I enjoy.

  • @cristiecang5521
    @cristiecang5521 4 ปีที่แล้ว

    Thank you for the video. Great lessons.

  • @felixokatch4587
    @felixokatch4587 6 ปีที่แล้ว

    Good and informative

  • @KewhoMin
    @KewhoMin 6 ปีที่แล้ว +1

    Great video. You seem to have simplified the two sectors quite well.

  • @StevenGregoryJayy
    @StevenGregoryJayy 8 ปีที่แล้ว +3

    thanks for the video

    • @WolvesAndFinance
      @WolvesAndFinance  8 ปีที่แล้ว

      +Steven Johnson Thank you! Glad you enjoyed it.

    • @siphonkala5438
      @siphonkala5438 6 ปีที่แล้ว

      So in other words, Finance person we can also call them as Management accountants, cause task is for future

  • @HNguyen2393
    @HNguyen2393 8 ปีที่แล้ว

    thanks so much for this clearly explanation

    • @WolvesAndFinance
      @WolvesAndFinance  8 ปีที่แล้ว

      +ManHong Nguyen You're welcome! Stay tuned for more videos...

  • @nkaujhnub86
    @nkaujhnub86 6 ปีที่แล้ว +5

    You talk so clear!! Thank you so much!!

  • @kldodo
    @kldodo 6 ปีที่แล้ว

    Thank you, this is extremely helpful

  • @mikehoncho1075
    @mikehoncho1075 6 ปีที่แล้ว

    Thank you for posting

  • @oumoudiallo2360
    @oumoudiallo2360 6 ปีที่แล้ว +1

    great video

  • @TheRecruitmentGuy
    @TheRecruitmentGuy 7 ปีที่แล้ว

    Great video, nicely done. Graham martin, The Recruitment Guy

  • @hammerhead19able
    @hammerhead19able 6 ปีที่แล้ว +5

    I would like, want to be a Finance person. Love it.

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +1

      Thank you for watching!

    • @donelion6459
      @donelion6459 4 ปีที่แล้ว +1

      Go for it , your outlook will be different . Good luck .

  • @paulimboden5589
    @paulimboden5589 6 ปีที่แล้ว +1

    True for financial accounting only. Ever heard of managerial accounting?

  • @thejaggernaut822
    @thejaggernaut822 6 ปีที่แล้ว

    This is an excellent video, it helped me a lot.

  • @Bulkking
    @Bulkking 7 ปีที่แล้ว

    Great video. That really cleared things up!

  • @keatongroom
    @keatongroom 3 ปีที่แล้ว

    Excellent explanation! Industry and students need to understand the distinction. Up till now I’ve been wondering where I will add value. Question: can an accountant do a financiers job, but not the other way around?

  • @georgerogen3884
    @georgerogen3884 7 ปีที่แล้ว +252

    Accounting is backward looking.
    Finance is forward looking.
    Thats it.

    • @kevinbarajas8798
      @kevinbarajas8798 6 ปีที่แล้ว

      George Rogen losdarajs

    • @jimwin2011
      @jimwin2011 6 ปีที่แล้ว +24

      Isn't management accounting "forward looking"?

    • @ericakelly123
      @ericakelly123 6 ปีที่แล้ว

      Thank you! Took forever!

    • @abdiyare742
      @abdiyare742 6 ปีที่แล้ว +1

      +TWS - Huey Whar r u on to?

    • @abdiyare742
      @abdiyare742 6 ปีที่แล้ว +1

      +TWS - Huey 😂😂Oh i was thinking totally different. Obviously plan the future.

  • @muperez881
    @muperez881 7 ปีที่แล้ว

    good job

  • @rutabish4407
    @rutabish4407 5 ปีที่แล้ว

    Great video! loved the content and how you explained it

  • @davidbutterton2307
    @davidbutterton2307 7 ปีที่แล้ว

    Great Job Zach, thank you for taking the time to define and explain, very well done and very well explained, you should do more good Sir, thank you, David Butterton, Emirates Academy of Hospitality Management, Dubai, UAE

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      Thank you for watching. I'm glad it was helpful!

    • @davidbutterton2307
      @davidbutterton2307 7 ปีที่แล้ว

      Thanks Zach, nice to hear back from you. I am a business Prof at Emirates Academy of Hospitality Management in Dubai, UAE. The students really enjoyed your video, very insightful and useful of course. Accounting is such a great area to teach and I really enjoy breaking down all the bad perceptions of a really interesting and useful business subject area, videos like yours helps to frame and make sense and gives useful direction, thank you, great work, kind regards, David Butterton

  • @amitgaurav100
    @amitgaurav100 5 ปีที่แล้ว

    Excellent

  • @almazabraha
    @almazabraha 6 ปีที่แล้ว

    Thank you very informative!

  • @clintongrandy7640
    @clintongrandy7640 4 ปีที่แล้ว

    God bless you thank you!

  • @SelfStudyEgyptian
    @SelfStudyEgyptian 7 ปีที่แล้ว

    Well done

  • @gonzauruguay100
    @gonzauruguay100 4 ปีที่แล้ว

    Wow! Your videos are awesome.

  • @stanlukash33
    @stanlukash33 7 ปีที่แล้ว

    good video. thanks

  • @vidanost1710
    @vidanost1710 5 ปีที่แล้ว

    Thank you. Why do you look broke And unhappy? Are you broke and unhappy? Be happy. Life is too short to be sad.

  • @sohaibahmed226
    @sohaibahmed226 5 ปีที่แล้ว

    Pretty well explained.

  • @a..a8907
    @a..a8907 5 ปีที่แล้ว

    convincing and smooth

  • @syedfayzahmed8744
    @syedfayzahmed8744 6 ปีที่แล้ว

    nice video

  • @dankierson
    @dankierson 5 หลายเดือนก่อน

    Here in EU many colleges have courses called "Accounting & Finance".
    Sure, strictly speaking, accounting is about the past and finance about the future based on the past revenue.
    But in actuality *most* projections and plans are prepared and presented by accountants when applying for a loan or making a proposal to another organization.
    Those finance decisions not involving an existing enterprise nor referencing specific past revenues, e.g. the financing of oil/gas exploration projects, will not be in the hands of working accountants as projections here are based on general industry data. Such financing is more about risk/reward analysis and management. But even here you still have ex-accountants doing such work.

  • @hannanguyen7123
    @hannanguyen7123 4 ปีที่แล้ว +1

    Thank you, Zach. I really appreciate your careful explanation . The pace and structure of your presentation helps me understand the overall characteristic and responsibility of each role, which I have struggled for a while to grasp as a non-business major.

  • @hotdogathlete
    @hotdogathlete 6 ปีที่แล้ว

    greatly informative video but I had to watch it at 1.25x speed to get through it
    thanks for the info

  • @orlandolazardi9818
    @orlandolazardi9818 4 ปีที่แล้ว +1

    Thanks for the video, i am a finance/accounting double major. Initially planning on being just finance but everyone tells me the CPA makes the difference between being a cfo vs just having a finance degree. I would like to know what do you think about this... is the CPA necessary. Thanks

    • @WolvesAndFinance
      @WolvesAndFinance  4 ปีที่แล้ว +1

      If your goal is to become a CFO, you need to get a CPA certification. That usually requires a Masters of Accounting. I have both an MBA in Finance and a Masters of Accounting, which I have found helpful as a CFO. But most people will tell you that you do not need that many degrees. It just depends on your goals. Thank you for watching!

  • @pradipdhakal2665
    @pradipdhakal2665 6 ปีที่แล้ว

    Awesome video!!

  • @gregperry3481
    @gregperry3481 7 ปีที่แล้ว

    Great video!!

  • @loucaviotto4193
    @loucaviotto4193 6 ปีที่แล้ว +107

    speed it up to 1.25! its now a perfect video lol

    • @derekhirose5540
      @derekhirose5540 6 ปีที่แล้ว +4

      John Reese hahaha thank you so much!

    • @abz4852
      @abz4852 6 ปีที่แล้ว

      lol he is still talking pretty slow but the videos great

    • @dezzylush3331
      @dezzylush3331 5 ปีที่แล้ว

      Thanks!!!

    • @htdiah9587
      @htdiah9587 5 ปีที่แล้ว +3

      Most people dont process information quickly, some are also dealing with english.

    • @user-mc8cj3ls6m
      @user-mc8cj3ls6m 4 ปีที่แล้ว +3

      i use 2x speed,

  • @madawafernando2093
    @madawafernando2093 6 ปีที่แล้ว

    great video thanks for the vital information and does the job depend on the university I attend to ? Will it be a key factor or if I graduate from finance or acoounting which field has the most no of opportunities ?

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +1

      It does depend a lot on the university. Many businesses like to recruit from certain universities. Try to research where your ideal employer hires from. Also, most universities have stats on how many students find employment. Although, statistics don't matter if you don't get the job you want. I like to recommend focusing on building your resume for the job you want.

  • @Tortortoriz
    @Tortortoriz 4 ปีที่แล้ว

    Hello sir I am willing to go to school for financing but I'd that a main major more need than accounting.

  • @takamine1992
    @takamine1992 7 ปีที่แล้ว

    Thank you for the clear explanation. I was wondering. Are you as a professional more valuable if you did a bachelor and master in a combination of the two? It seems that it creates synergies.
    I'll be done with my masters in Finance in one year and since I did a very different bachelor thinking about doing some programme in accounting. What do you think?

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      It entirely depends on what job you get, and what your company values. From a pure cost benefit analysis, in business, getting more than one master's degree will usually not increase your salary at all. However, in my opinion, I am always biased towards getting as much education as possible.

    • @takamine1992
      @takamine1992 7 ปีที่แล้ว

      Thank you for your answer. Assume I do not care about the possible increase in salary. I just want to be good at what I do and hope to improve my performance by combining finance and accounting. Because I do not have a job yet I can not say anything about the wishes of a possible employer. On the short term I would like to work in M&A and value companies. On the long term I would like to become a controller at an industrial firm.
      What do you think? Would having a finance and accounting background add value in the sense of performance of me as an individual in these professions?
      Thank you again in advance.
      Ps. I'm from continental Europe. Maybe the situation is a bit different here.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      Education always adds value. However, it is helpful to balance education with work experience. If you don't have work experience in M&A yet, get that first before getting another degree. I have found it useful to get work experience in between college degrees. Your studies will have much more meaning if you can relate them to actual work experience. And many employers will not hire you, if you have a long list of degrees and limited work experience.

    • @takamine1992
      @takamine1992 7 ปีที่แล้ว

      Thank you for thinking with me. Ill start working right away after my master and see how things will develop. All the best!

  • @fordmustanggen5
    @fordmustanggen5 6 ปีที่แล้ว +3

    I'm stuck deciding on whether I should major in finance or accounting..

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +3

      If you are in undergrad, try taking a class in both. Also look at the type of jobs that students are getting hired for out of both those programs at your university. That will help you decide which you are most interested in.

    • @johnbenjamin9937
      @johnbenjamin9937 5 ปีที่แล้ว

      JUSTnMOTO. hope this help you
      undergrad acctg. MBA Corp Finance or Intl Finance
      if undergrad finance MBA or MS
      Accountancy sit for CPA exam
      jb

  • @shv7355
    @shv7355 7 ปีที่แล้ว

    we're is more vacancy ,in accounting or in finance ...which profile pay more ...for becoming a finance manager which course one have to pursue ..and for accounts manager which courses one have to do ...pls suggest me some more option in both field ...which are cost effective...

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว

      the job vacancies and salaries vary greatly depending on what city you live in and what industry. I would recommend asking a mentor in your area in the type of work you are curious about.

  • @chandanchadha8571
    @chandanchadha8571 4 ปีที่แล้ว +1

    Sir i want to become a finance professional....is experience of accounting equally important as finance in finance field?

    • @cardcode8345
      @cardcode8345 4 ปีที่แล้ว +1

      chandan chadha
      Nope, you need certifications not degree in finance

  • @mamonurrashed9663
    @mamonurrashed9663 2 ปีที่แล้ว

    start the video from 01:30
    You are welcome

  • @james.vitali
    @james.vitali 7 ปีที่แล้ว

    Zach, can you still enter in the finance profession with only an accounting major? I still want to do CPA after graduating from my degree.

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +1

      Your career is only limited by what you can make happen. If you want to work for a Finance company, start trying to intern at the company of your choice. However, Finance companies will not care about you getting a CPA as much as an accounting firm does. An accounting firm will likely pay the cost of you taking the CPA exam while a Finance company probably won't.

    • @teeahtate
      @teeahtate 6 ปีที่แล้ว +1

      Most finance companies will value the CFA over the CPA. However, there are some finance jobs that ask for a CPA. Most vice presidents of finance are usually CPAs. I agree that it depends on how you market yourself, networking, and your job search skills.

  • @dee9238
    @dee9238 5 ปีที่แล้ว

    What to do if I’ve decided to narrow down my career options in the business field but I don’t know what major? I don’t know my talents and what talents are required for each field. What if I lack some skill? I’m an under average student but want to do business, can I make it or is it something that comes naturally

    • @WolvesAndFinance
      @WolvesAndFinance  5 ปีที่แล้ว

      Every field in business takes hard work. Go after the area you find most interesting and you can make it. Thank you for watching!

  • @neilhamirkeshvala
    @neilhamirkeshvala 7 ปีที่แล้ว +3

    In that case it might be beneficial for future CEOs who declared Accounting as their major to double major in Accounting and Finance to meet the 150-credit requirement for the CPA exam rather than earning a Master's in Accountancy?

    • @WolvesAndFinance
      @WolvesAndFinance  7 ปีที่แล้ว +2

      I would encourage you to check the CPA requirements for your state. Most states will not accept credit from Finance classes to count towards the CPA exam. There are also some states with stricter requirements than others. I have heard difficult stories of people moving to a new state, but their credits don't meet the other state's CPA requirement.
      However, your question was specifically on future CEOs. If you study CEO's they come from a wide array of backgrounds, and many actually from sales and marketing. If CEO is your career goal, you have a wide range of degree options to choose from, but you should consider selecting based on your personal strengths.

    • @johnbenjamin9937
      @johnbenjamin9937 5 ปีที่แล้ว

      Neil Keshvala. thats why I got a
      MBA in Corporate Finance and
      MBA Accountancy unheard of but did it cause complex world we live in...jb

  • @raymeester7883
    @raymeester7883 6 ปีที่แล้ว

    Great video.
    But, why do look as if you were put in a awkward position?

  • @me-clickltd1440
    @me-clickltd1440 5 ปีที่แล้ว

    But what is accountability, and what is Cashflow Holding?

  • @jamshidmamarasulov5230
    @jamshidmamarasulov5230 4 ปีที่แล้ว

    Hello! I want to apply to university and choose accounting and finance field so for getting prepared for university level which book you would reccomend for me to learn this field more deeply?

    • @WolvesAndFinance
      @WolvesAndFinance  4 ปีที่แล้ว

      You can always read my book, available on Amazon here www.amazon.com/Wolves-Finance-Connection-Between-Business-ebook/dp/B00P48A4UO Good luck at university. Thank you for watching!

  • @adamtadros1472
    @adamtadros1472 3 ปีที่แล้ว

    I read a comment that said to speed it up.... If you are watching at 1x speed PLEASE! work up to 2x speed, get 2 times the information in the same time.

  • @evasutherland603
    @evasutherland603 3 ปีที่แล้ว

    MSc. Accounting Vs Finance: Which Should You Study?

  • @dpodsful
    @dpodsful 6 ปีที่แล้ว

    Do you have advice for a 38 year looking into switching careers into accounting?

    • @WolvesAndFinance
      @WolvesAndFinance  6 ปีที่แล้ว +1

      It depends on your strengths and weaknesses. It will be difficult competing with a younger applicant for an entry level position. But you also have experience which is valuable. Also consider getting specialized training for the job you want. It might take transitioning through multiple positions in a company to get closer to the job you want.

    • @teeahtate
      @teeahtate 6 ปีที่แล้ว

      I agree. Most companies look for experience in addition to education. However, networking and joining professional organizations will help your career. If you are interested and have a specialty in taxes, the barriers to entry are not as strict as it is for financial statement accounting.

  • @ansaransar1814
    @ansaransar1814 4 ปีที่แล้ว

    Thanks.

  • @commitmenttoexcellence
    @commitmenttoexcellence 6 ปีที่แล้ว +2

    you put on a fake smile at the end lol

  • @samohamo3048
    @samohamo3048 7 ปีที่แล้ว

    thankyou

  • @TheJordon125
    @TheJordon125 7 ปีที่แล้ว +34

    Great video. But just speed up a little. Too much time is being spent looking at ur smile

  • @nisan6937
    @nisan6937 3 ปีที่แล้ว +3

    Accounting You can find job much more easier and finance job rare . One of my friend finished with master of finance but difficult to find job so now he's studying again online course for Accounting . Most importance is " where is yr situation?"

    • @syedfurqan9982
      @syedfurqan9982 3 ปีที่แล้ว +1

      I want to be an accountant in future, So I want to ask what is the best degree to make perfect accountant??

    • @nisan6937
      @nisan6937 3 ปีที่แล้ว

      @@syedfurqan9982 the higher you get the better

    • @syedfurqan9982
      @syedfurqan9982 3 ปีที่แล้ว

      @@nisan6937 thankYou so much for having a advice for me. i will definitely work hard.

    • @syedfurqan9982
      @syedfurqan9982 3 ปีที่แล้ว

      @@nisan6937 are you an accountant ??

  • @arnoldwillie1528
    @arnoldwillie1528 4 ปีที่แล้ว +5

    management accountants are forward looking
    and financial accountants are backward looking

  • @kambrose3339
    @kambrose3339 3 ปีที่แล้ว

    Thats your job lol I have never been the paper guy and liked it lol. ✌