Your complete guide to studying Accounting

Everything you need to know about studying Accounting

part of Business & Management

What is Accounting?

Accounting is the language of business and is critical for informed decision-making in any industry. As a student in Accounting, you will learn to record, analyse, and communicate financial information. But this discipline is about much more than just numbers; it's about painting a clear picture of a company's financial health.

Accounting Specialisations

Here are some specialisations you'll likely stumble upon:

  • Financial Accounting: Reporting company financial information to external parties.
  • Management Accounting: Internal reporting for decision-making processes.
  • Tax Accounting: Specialising in tax returns and tax planning.
  • Auditing: Evaluating the accuracy of financial records.
  • Forensic Accounting: Investigating financial discrepancies and frauds.

Whether pursuing a Bachelor's or a Master's in Accounting, you are likely to find that Financial Accounting is the most popular specialisation in Accounting programmes, but areas like Forensic Accounting are rapidly growing.

What will you learn during an Accounting programme?

By pursuing an Accounting degree you will learn:

  • Techniques to accurately record financial transactions.
  • Skills to analyse complex financial reports.
  • Ethical standards integral to the finance world.

Key courses to expect:

  • Financial Statement Analysis: Dissecting and understanding company financial statements.
  • Cost Management: Grasping costing and budgetary controls.
  • Taxation: Understanding tax laws and planning.
  • Advanced Auditing: Learning advanced techniques for financial evaluations.
  • Corporate Finance: Exploring business financing and decision-making.

Accounting is a good degree for those with a keen eye for detail and a passion for financial clarity. The skills you can get from studying Accounting courses will be invaluable in the finance world but will also be very useful in many other industries.

Skills required for a degree in Accounting

A successful accountant often possesses strong analytical skills, impeccable attention to detail, and a high level of integrity. Moreover, interpersonal and communication skills are vital as accountants frequently collaborate with other departments. Ensuring you meet the Accounting degree requirements will often mean keeping up-to-date with changing financial regulations and standards.

What can you do with an Accounting degree?

With your qualifications, there are many jobs or career paths to consider. Here are some of the most popular:

  • Chartered Accountant: Managing financial records for a range of clients.
  • Tax Advisor: Offering specialised tax advice and planning.
  • Auditor: Ensuring the accuracy and fairness of financial statements.
  • Forensic Accountant: Investigating financial discrepancies and providing expert witness testimonies.
  • Financial Analyst: Guiding businesses in financial decisions.

Considering the jobs you can get with an Accounting degree, it's obvious that this field offers stability and growth. Furthermore, the skills you acquire will prove valuable not just in accounting firms but also in the finance departments of various businesses, non-profits, and government agencies. Ultimately, a career after the most common specialisation in Accounting promises both challenges and substantial rewards.

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