Money Matters, And So Do Majors Who Deal With It
Everyone is in the business of making money, so it is no surprise that those whose job it is to deal with it are enjoying a good career outlook. According to the Bureau of Labor Statistics, employment of accountants and auditors is expected to grow by 22 percent between 2008 and 2018, and that of financial analysts is expected to increase by 20 percent, both much faster than the national average. With these occupations being in high demand, it is fair to say those who major in finance and accounting will be as well.
The field of finance focuses on how financial decisions effect businesses and ways that financial planning can help increase business profits. Through finance courses, majors learn about how factors such as the economy, stock market, investment decisions, and interest rates can effect a businesses’ financial success. Finance majors take basic courses in mathematics, business, statistics, economics, and accounting, where they learn how to create and manage budgets, make wise investments, and control costs. Courses focusing specifically on the field of finance include corporation finance, real estate, monetary theory, management of financial institutions, financial markets, and cost and managerial accounting. Finance is an ideal major for highly analytical individuals who have strong qualitative skills, enjoy solving complex problems, and love taking risks. Finance majors can look forward to careers in banking, insurance, real estate, money management, personal financial planning, and corporate and public finance. They can be financial analysts, bank managers, loan officers, real estate brokers, traders, claims adjusters, and financial planners. Finance majors are commonly employed at commercial banks and credit unions, brokerage firms, captive finance companies, and private businesses and foundations.
The field of accounting focuses on the analyzation of financial information in order to make important business decisions. Through accounting courses, majors learn how to run firms effectively by the gathering, recording, analyzing, interpreting, and communicating of information concerning financial performance and risks. To be able to understand financial principles, accounting majors take foundational courses in math, statistics, economics, business, and computer applications. The majority of courses they take focus on accounting and financial procedures such as accounting information systems, auditing, cost accounting, and tax accounting. Majoring in accounting is ideal for attentive and detail-oriented individuals who enjoy advising and communicating with others. Accounting majors can pursue careers in the areas of management accounting, government accounting, public accounting, and internal auditing. They can be certified public accountants, private accountants, government auditors, compliance auditors, and tax specialists. Common places of employment include public accounting firms, government facilities, and private businesses.