Accounting Vs. Finance. Which Career Choice is better?
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- เผยแพร่เมื่อ 28 เม.ย. 2024
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What are the differences between a career in Accounting vs. Finance, and which career choice is better for you? I go over this plus a day in the life of an accountant and a financial analyst. Then I explain to you the reasons why I chose Accounting over Finance. Enjoy!
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oh and happy learning :)
you got one subscriber sir thank you for given such important information regarding account finance
I had done bcom in Pakistan as a bachelor degree what should i do next
I have a question, I have an accounting background and bookkeeping certification. However, i want keep going would I be better off getting a Masters in Finance or an MBA concentrated in Finance. Thanks in advance sir.
I’m getting an A.A in Accounting and then when i transfer to university i’m getting a B.A in Finance🥰
Thank you for mentioning introvert vs extrovert, no one does. Definitely rather work a job good for introverts
Thanks Jorge. Go introverts:)
Thank you for including the term "introvert" in your description of the distinctions. I'm an introvert who loves finance, so I'm combining the two and studying for the CFA and CPA exams.
That’s great. Best of luck
Yes me too, I am an introvert as well. Gonna study for the CFA first then tackle the CPA
@@feliciafel1973getting a CPA and CFA is not worth it practicality wise, however if you’re doing it for the personal education and name then it is. CFA will teach you how to invest and analyze risk. CPA will strengthen everything accounting. I don’t think having both provides any advantage in the workforce.
@@feliciafel1973 I'm doing both as well. I would just suggest that you switch the orders of them. The CPA exam process can be completed in 12-18 months if you're already educated, but the CFA exams tend to take several years to complete. Also, they're changing the CPA exams in 2024, so if you're already educated in accounting you probably aren't prepared for the new CPA exams.
Bro an introvert seriously he is an extrovert he makes yt videos showing himself
It’s been so hard finding a resource that outlined the differences in a clear and finite way. Excellent video, thank you
This is one of the best videos I have found on the difference between finance and accounting. Really appreciate discussing the reasons one might choose one path over the other, and the introvert factor.
I agree with you 100% thanks for the video . I was always curious about working in Finance , but now by watching this video I have confirmed that accounting is my thing ! And I love it ! Thanks
I love the way u made ur decision; despite being able to generate more money u focused on ur life balance and happiness with respect to ur capacity
This video is what led me to your channel. I was struggling to find an accessible way to explain my change of career alignment from Accounting to FP&A to friend who isn't from our world and doesn't understand that us CPAs can do so many different things! This was spot on.
I liked the part where you explain how your personality interacts better with Accounting because I'm the reverse in every way. When I was an accountant, period ends grew stale after a while and my favorite part became working with the finance team to give them some guidance on how to forecast/budget accounting adjustment accounts. I was the only person in Accountings who wanted to touch that, and the finance team hated to forecast anything accounting based (which shows how much these two things don't intersect too well) so I ended up de facto owner of many accounts during the forecast process. Interacting with the finance team led way for a career revelation and an opportunity that I'm extremely happy to have gotten. It was like a gravitational field pulling me in that direction!
Thanks! Yeah, forecasting is not a natural skill for accountants, but certainly can be nurtured through experience. Great insight again here, thanks for adding!
You really helped choose which career to go for, I’m about to go to college this year and I had chosen an art degree and it wasn’t sitting well for my future goals money wise. Thank you very much 🙏
Thanks and best of luck!
what's ur major now?
i'm an introvert but i'm more into finance, i'll make my weakness as my strengths. thank you for the clarification between these two. it helped me a lot! you're so great!
Haha makes sense thanks for watching
Yes this is true to me also. I’m a bit scared of public speaking but I love the idea of working as an analyst.
Love you sir, day by day you are making my accounting life easy.👍
I am glad it’s helpful:)
I have nearly 3 years of experience in F&A and can say this video is very accurate.
I am happy someone from the financial analysis side confirms my analysis!
i’m 15 and want to be a financing accountant when i’m older, is this a good career goal?
If accounting and finance were the only two jobs left in the world, Do you think it’s worthy to have 20% less salary being an accountant than fiance in order to have more stable, more comfortable tasks at work and you can have time for personal life? Or is it worthy to step out of the comfort zone to get that extra 20% $ by doing fiance, but end up not having a life outside of work, and stress at your work? I’m an introvert too! Material wise, which one is harder? Please also talk about bonus. In what categories do they evaluate you and the amount $. Is bonus quarterly and annually.. and salary raise. I got a bachelor degree in accounting and debating which MS program to go for. It looks like CPA route is reasonable since I have most of the credits. I just want to hear other’s opinions!
@@abcdefg12369 There is so many different categories of F&A and it's going to vary based on the company. For example I work in private accounting instead of public so my hours are pretty good. Those straight out of college in public make about the same as me but their chances of being promoted to a higher paying job is likely higher if they can survive the burnout. If you are introverted I think accounting is more your alley. When I worked in Finance it was a lot of meetings and presentations. My companies bonus is once a year and it pays very well, around 10%-20% of your salary depending on well you/the company did. You can make a lot of money in accounting as well. We also get raises once a year but seems like switching jobs to get pay raises is becoming the new norm.
@@citizenoftheyearCC Thank you. In your accounting job, how many hours did you work per week (busy vs downtime season)? Did you have to work a lot outside of your work hours, such as OT? How much vocation time did you have and were PTOs easy to approve? What kind of meetings/presentations did you have and how often? Do you think you have closer relationships with your finance coworkers vs accounting since you interact with finance more or vice versa or same. Tell me about coworker relationships as well.
Brilliant video, I really enjoyed it. Very nice presentation, with facts and reasonable opinions. I liked also your tone of the voice and clear, easy to understand English, both very important to me to be able to follow with interest. I am certainly going to see your other videos as well. Thank you indeed.
Thank you Lazarina!
Adding my comment to make them total half a thousand on this video 💪.
Best video I’ve seen explaining the difference between these two. Thanks
Great video. Thanks. As an auditor in big4 I'm currently hesitating accounting and finance. Your video helped me to see things clearer !
Awesome 👏
If accounting and finance were the only two jobs left in the world, Do you think it’s worthy to have 20% less salary being an accountant than fiance in order to have more stable, more comfortable tasks at work and you can have time for personal life? Or is it worthy to step out of the comfort zone to get that extra 20% $ by doing fiance, but end up not having a life outside of work, and stress at your work? I’m an introvert too! Material wise, which one is harder? Please also talk about bonus. In what categories do they evaluate you and the amount $. Is bonus quarterly and annually.. and salary raise. I got a bachelor degree in accounting and debating which MS program to go for. It looks like CPA route is reasonable since I have most of the credits. I just want to hear other’s opinions!
@@abcdefg12369what ms program did you go for can we talk
thank you so much for the help! right now i’m an accounting major, but i recently took a finance class and liked it as well. i definitely think accounting is more for me given that i’m more introverted and like having a set schedule! also, the thought of predicting and advising others based on assumptions terrifies me
Alex you are not alone. Many finance professional dislike the forcasting/responsibility aspect as it is stressful.
@@TheFinancialController If I become a CPA, how can I open my own business? I mean doing what?
@@tpb1006you can open an accounting firm or partner with someone providing accounting services for small businesses
You clarified a lot of things for people considering a career in accounts or finance. Thanks!
Great video. Very helpful, I appreciate!!
Thank you William!
Good one sir, its very helpful for people like me .....expecting more from you , thankyou !( adding a small note : now a days accountant job also having high stress level !!)
I am great full you mentioned about introvert and extrovert. Never heard it before. I am new subscriber. I have done masters in accounting and finance and I love this profession and really want to pursue it further. I am here to refresh my knowledge. Thank you 🙏
Welcome aboard!
Can you guide me how to choose correct part parth in accounting and finance current I am doing bachelor in accounting and finance
I’ve been struggling on what to pick as a major for college, the video helps a lot thank you!
Glad you found it helpful:)
this was so helpful, i’m so torn between which path to take & this has definitely answered a lot of the questions i have. thank you so much!
Best of luck JJ!
Very helpful and straightforward video. Thank you!
Thanks for the support:)
I forwarded a link to this video to my grandson who is about to begin studies at a business school. He is interested in accounting and finance, but doesn't have a clear understanding of how a career in one of those disciplines would differ from a career in the other. This video is a perfect introduction to gaining a better understanding of the differences.
Thanks! Best of luck
Thanks a million! This helps me a lot for making a big decision.
It's clear and understandable. Thanks for your video.
Thanks Phong!
Many thanks for making this video. I was so indecisive with my career choice and this just cemented everything I needed to know about the life of an accoutant and financial analyst.
Good luck Robert!
This is a very informative video. Thank you!!
wow i think this helps a lot in terms of deciding what i want to do when im older
i think im leaning more towards finance
Great!
Excellent presentation, Thank you
Thanks again!
Thank you so much for your great video.it’s very understandable and useful information
Great job explaining both! My only comment would be to major in both. You’ll never know which one you like more until you study them.
You are not wrong!
@@TheFinancialController your channel is awesome. It’s helped me so much with my MBA program so far. Thanks for replying!
Thank you this video was very helpful. I did emphasis in finance and later I decided if I should do accounting or not and decided I wanna do accounting. I have a question. If I have already taken managerial accounting and financial accounting, how many more units do I need to complete the required accounting units that I need.
This was a great video, i benefited a lot. Thank you.
I really appreciate your explanation. Thank you
Glad it’s helpful
Thank you sir! It is really helpful 👍
Thank you! Best review so far. I am a nurse going back to school for career change!
Glad it was helpful!
Take love ❤️ Your videos are awesome and helpful. ❤️
This is amazing. Thank you so much.
You're very welcome!
Thank you for mentioning the introvert side as more preferable for accounting. Your reasons for choosing accounting aligns with mine especially #1 and #2. I always thought accountants are busy ensuring accuracy of numbers, which I considered to be stressful. With your explanation, I can imagine how more stressful the work of a FA can be. Thank you!
Thanks Lucia, yeah it’s hard to admit but I am a big introvert:)
i staying practice everytime and the videos are so clear and complette
Great :)
Will you please consider making a video on the career path you would recommend for those students who want to gain practical education and work experience to ultimately prepare themselves for starting and growing their own firm? I would really appreciate this kind of video since most accounting videos focus on becoming the best employee wo discussing a strategy for developing an end goal of preparing oneself to become self employed. Thankyou!
HI, what do you think would be the reason to choose finance over accounting? I liked that you have just mentioned why you have chosen accounting over finance.
Thank You❤
Thank you for this!! It did help
Thank you!
Really helpful, thanks a lot and please do keep coming up with more such content.
Sure Random Girl ;)
Your video touch to the point. I am finance manager for one NGO in Cambodia. The org just adopt of IFRS for SME for organisation. What of my concern is mistatement of information complying to the standard.
First view and subscribed. Well done &' keep the good stuff comin
Thanks man
Great points thank you
thank you, this video was very helpful for me
Great!
such a crucial video for anyone to understand and select a career to pursue .....
Very helpful thank you for making this video
Thanks!
Very helpful! Thanks!!!
That was so helpful. I am about to start my career in accounting and researching a lot. I think that suits me better than finance. Fist step is to get a career as a staff accountant taken off before venturing into finance though i have a finance degree. They always ask for experience as accountants before giving role of financial analyst.
I agree, financial analysts who have an accounting background tend to know how to read financial statements, retrieve financial data, and know accounting rules. All great attributes. Go for it and best of luck! Tune back in for more videos ;)
Definitely the move to be a financial analyst
You and i share the same reasons for going into accounting 🙃. Thank you for sharing your knowledge with us.
Love your videos man !
Thank you!
Thank you for clearing my thoughts, it was very informative and clear.
However, which professional course would you recommend to grow a career as Financial Analyst?
I have seen both accounting and finance majors do well as financial analyst. Real life work experience is what counts after the 4 year degree in either major. Find a company where you can learn their busy really well and a manager/mentor who will guide you.
Thanks brother, today I fully understand what exactly finance person job and accountant.
Nice comparison...mainly to the point...all best for your future endeavour.
Thank you!
Thanks for the explanation about differences FNA
The ending bgm is awesome where can i get ?
This is very informative video. Thanks 😊 ✨
Glad it was helpful!
Great presentation! Just subscribed
Thanks Kim!
Something they don’t tell you is that an accounting degree allows you to do anything finance can do, but finance people cannot do what accountants can do. Finance people could have to compete with accountants for jobs. Plus most CFOs and other prominent business positions have accounting degrees.
True!
Wait so I can't have a finance degree and take cpa and get into accounting?
@@Rohitoh You have to have an accounting degree and a certain number of credit hours and or work experience depending on the state as well. One you cannot be an accountant without a bachelor's in accounting and then on top of it, you need in some states a master's in accounting to be a CPA.
That's because in the process of learning Accounting you learn how to do forecasting, investing, etc. which are things in Finance, but Finance does not teach you about Accounting at all. There's a reason why almost every CFO and CEO is an accountant because it's the language of business and gives you the best understanding of a business more than any other area.
@@Hartsinck1 thank you for the detailed response, much appreciated 👍
@@Rohitoh yes you can. You will need to go for a masters in accounting at a university that allows non accounting majors to enter their program. Many exist.
Thanks Master for helping me to study accounting im motivated thanks alot
Not going to even lie as a finance major, wish I just did the accounting field. Picking it up as a second major though
Nicholas you can shine in either track. Finance is sexier and you can make more money, so press on the gas and just pay your dues and great things will happen
That's incredible
Hey! This video is really beneficial. Can you please make a video about the confusion between financial management and management accounting? thankyou!
Great video! I am currently a financial analyst and will receive my bachelor's in May with a Major in Business Management and a minor in accounting. I am thinking of switching over to an accountant.
What school are you attending if you don’t mind me asking?
What made you want to switch over to accountant?
I'm late to the party, but great video detailing the differences. I do a fantastic job (I think) pretending that I enjoy talking to people; I've had many, many years of customer service experience prior to becoming an Accountant. I actually prefer accounting because history is static. I can't make a "failed prediction" about history, but I can definitely fail at forecasting accurately with this broken crystal ball of mine 😉
definitely finance as its forward looking compared to Accounting which only looks at the past and companies see Accounting as a cost rather than bottom line contributing factor.
Agreeed
I did Roger CPA review too, it was a good course.
thank you very much sir. i have now a very much clear understanding about that as today i have an interview about the research and choose a domain in which i want to work and the options for me are these two accounting and finance. before watching i am so confused about that what to choose but now i have much clear about the pros and cons of that. i am a bachelor student and i am so much extrovert, and the thing is that i have a psychological fear in my mind about the rules and regulation that i can't work under the restrictions, but yes i am so much conscious about the stress level. but maximum things are with the finance. and i have an interest as well in the risk management and the work of stock markets etc. but above all thank yew very much for this video and specially sharing your experience with us. God bless you.
Thanks Kainat. Let me know your progress after you figure out the best path for you :)
@@TheFinancialController Thank yew sir for motivated me and asking about this....
Sir i have selected research in finance and the idea on which i starts working is to analyze the "financial attitudes of investors during covid 19 particularly related with the stock markets"
@@TheFinancialController can i get your mail.... For any other question that i wana ask or if i need any help from you in my research project??
Fantastic video, helped clear up so many questions I had as well as looking through the comments below. Quick question. For someone that has a math degree and is looking to get into accounting, what would be a good first step? Would really value your input. Thank you in advance sir!
Hi. Accounting is not similar to math. So this is a change of career for you. I recommend working a few days/weeks first in accounting before committing because you will need a 4-year degree which is a lot of work
@@TheFinancialController Thanks for the response! Good to know. And yes, I've actually been in sales for a little over 5 years, and am looking for a big change, hopefully to something that will take full advantage my skillset and personality better. Sales has been exhausting since day one. And I really enjoy making sense of numbers, what they mean, and where they come from, so I've been looking to transition into something related to finance and accounting but havnt made permanent plans yet. Thank you so much for taking the time to reply. Sincerely appreciated 🙏
Helpful video..love it when you mention but being introvert now I know this is common for Accountants like me.
Haha glad it helps
Nice, just switched majors from music ed MAT to finance BA, but honestly, I only switched cuz I like talking about money. I didn't really think I'd like accounting more than Finance, and I might switch to accounting
Great video!! But I have few questions:-
1. How far we can go in our careers being an accountant without CPA designation?
2. Can we get finance jobs(financial analyst) after majoring in accounting or working in any public industry?
It's hard to reach an Accounting Manager role without CPA. I've seen very few folks who did that, and mainly because they were good with financial systems and automation. Yes, I am a big believer in going into Accounting as means to becoming an financial analyst. Watch my video on Exit from Public accounting for more breakdown.
@@TheFinancialController is it possible to drift into finance after acquiring a degree in accounting..If so what will be the career path
you are doing great job bro please keep working to help account finance student
Thanks Bilal
Subscribed. I see that this video is three years old…looking forward to catching up on newer content.
Wonderful video, your profile seems like mine. One point that was important for my decision is the social part, that only 25% in average to time spend with colleagues it's enough . Thank yoou
Haha great thanks for sharing!
Very nice Vedio. U explain very well. Also I liked exit strategy for CFO and controller.
Wanted to connect in LinkedIn..
Nice! Of course let’s.
Thanks for ur sharing and video. :))
Wow thanks very much I now know where to major
Good job!
Really helpful video
I wish I would’ve watched this video before I switched my majors from Accounting to Finance last week. I relate to the introvert section so much, but the finance courses have been easier for me to understand than accounting, which makes me feel lost often.
My question for you would be if you think it it’s ever too late to go into Accounting and become successful in obtaining an CPA, I probably won’t get my Bachelor’s until I’m 34 and would have to be “too old” to be starting a career in Accounting
The age aspect is a thing of the past. Hiring managers look for decent grades and someone who can articulate their knowledge during an interview. Go full speed brother
Im studying chemistry pre-pharmacy but my two majors of choice for pharmacy is accounting or finance
Impressive distinction between Accounting and Finance, and what informed your preference . Employers often seem to prefer Financial Analyst role more as it relates with predicting and forecasting the future though. Could you share your views on what inherent factors and learning requirements to make a good Financial Analyst for one that wish to transit from Accounting?
Thanks. My video “5 career tips to make a move from accounting to finance” covers this question
Hi thank you so much! Would you say that these 2 majors are the best to go for in business? Accounting and finance. Money wise and jobs, etc.
Absolutely! I would even favor accounting more because the finance knowledge can be obtained later when you work at a company
@@TheFinancialController Love it. If one wants to advance to a finance role, would they need to go back into education or it highly depends on the company?
I’m deciding on what i should major in college and accounting was one of my top options. Im interested but im worried that accountants work very long hours and have no life execpt for work. I would love 40 or even 50 hours a week but nothing like 70 or 80 hours. I dont mind making less money with less hours but i dont want to risk having no life by working 80 hours a week.
Accounting can be 40-50 hour week if you avoid public accounting.
Prior to watching this video I was worried about my career options as I major in accounting. I really enjoy the schooling so far and been able to do well but I have my worries in case I realize in the future that the traditional path most accounting majors pursue isn't for me (a lot of them go through PA which sounds scary to me).
From what you've said it looks like majoring in accounting would be more beneficial in terms of flexibility? I've heard this said before - in terms of jobs/career do you agree that an accounting major has more flexibility in that they can do jobs that finance majors can do but finance majors would have to learn more if they wanted an accounting role? I hope my question makes sense hahah.
Great question. Yes, when hiring, I find accounting majors most versatile. When you are an accountant who does financial analysis, your knowledge of technical accounting, rules, mechanics of general ledger, etc are extremely handy and helpful in finance careers. So do your best in accounting and you can nail both.
Thanks
Thank you soooo much
Thanks Messy. Both Accounting and Finance are great career choices and highly fluid (move from one to the other). Good luck!
I majored in accounting and a major introvert. Totally agree w/ you. Took a job in finance right out of college.. worst mistake yet. Trying so hard to find an actual accounting job. Is accounts payable a good place to start? What about taking jobs that don’t require a degree, is that a waste?
Yes a waste of no degree required. AP is a good place to nail down the nuts and bolts, then try to get some fin reporting experience
Thank you. 🤩
You are welcome!
@@TheFinancialController 🤩
I'm an Accounting and Finance student
thanks sir
what's your opinion about working at Big 4 accounting firms as a chartered accountant
?
This is an underated channel!
I agree ;)
Can you make a video on professionals switch career midway like working as an engineer transitioning to accounting. How it is perceived inside the accounting field professionals
I just started an accounting class and it's hard as hell
This is normal. It will start to make sense by accounting 201 level courses, I promise ;)
@@TheFinancialController yea im taking 200 and its like learning a new language. Plus its online so its difficult to self learn.
It’s hard bc it’s worth it :)
Accounting classes are harder than working in accountingz. Sap makes it like that.
@@mrLWC so your telling me the daily work is not as complex as the school work?