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Old 01-18-2014, 07:47 PM
 
1 posts, read 7,854 times
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I took a few years off after high school but now that I'm finally going to college I don't know what I want to major in. I figure the best ones for me, based on interest, are accounting or financing. The most experience I have is to do my own taxes, using TurboTax or something, and figuring out which credit card to pay off and how long it will take at a certain payment. But I like to analyze situations and figure out if I do A then I'll get result Y, if I do B then I'll get result Z. I did that with cousin when she went to college. I researched and wrote down a dozen different scenarios for her based on the majors/minors and electives she was interested in. I showed her all the scenarios and explained how they worked out and when she wanted me to alter one I went over it with her. Based on this info do I seem more suited for accounting or finance?
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Old 01-18-2014, 07:52 PM
 
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Finance only if you go to HYS.
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Old 01-18-2014, 08:26 PM
 
Location: Miami,FL
653 posts, read 822,918 times
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I did both, but if you need to choose one, go with accounting
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Old 01-18-2014, 09:01 PM
 
280 posts, read 352,031 times
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Most degrees offer enough required free electives for you to do both, if you can that would be the best way to go. I choose accounting, but now work in corporate finance and wish I had the classroom experience in Finance. If you have to pick between the two, I would say accounting. Accounting is the foundation of Finance and the language of the business world. Just make sure you go in prepared to do the work necessary to be in the top 10-15 percent of your class. I was also a non-traditional student so I can relate to your current situation.
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Old 01-18-2014, 09:10 PM
 
Location: Des Moines Metro
5,103 posts, read 8,676,791 times
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Also make sure that your program has a high CPA exam pass rate and go elsewhere if they don't.

If you don't get the CPA, you'll be doomed to a lot of low-level tedium for a long time.
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Old 01-18-2014, 09:23 PM
 
615 posts, read 1,387,076 times
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Accounting and finance goes hand in hand. Accounting > Finance. Accounting degree + CPA = $$$
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Old 01-20-2014, 06:20 AM
 
Location: Hampton Roads
3,032 posts, read 4,757,079 times
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Quote:
Originally Posted by Chicago87 View Post
Accounting and finance goes hand in hand. Accounting > Finance. Accounting degree + CPA = $$$
In the companies I have worked for (in property management and healthcare), Finance > Accounting so it's not always an accurate assessment.

Accounting and finance go hand in hand; however, there is a difference and they're not one and the same. Finance goes a step after accounting and uses financial data to make strategic business decisions and tries to predict things that may happen in the future under given financial assumptions.

I think if you're someone who likes to analyze situations, then you might be better suited and happier with finance than accounting. With accounting, it is less analyzing future situations/outcomes and more about accounting for what has happened in the past.
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Old 01-20-2014, 06:25 AM
 
20,793 posts, read 61,546,377 times
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Quote:
Originally Posted by Chicago87 View Post
Accounting and finance goes hand in hand. Accounting > Finance. Accounting degree + CPA = $$$
I STRONGLY disagree with that....

Yes, an entry level CPA can make ok money but unless you get into a large firm and work your way up, you aren't making that much more.

Finance degrees can lead to all kinds of jobs that pay as well as, if not better than, a CPA, in a wider variety of industries, heck any industry as almost every larger company employs financial analysts of some kind as just a starting point.
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Old 01-21-2014, 09:06 AM
 
2,210 posts, read 3,518,475 times
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Based on what you said you enjoy, you would be much better off pursuing a finance degree. Accounting (financial accounting, at least) is just reporting what a company did in terms of revenues and how that effects the balance sheet. It is essentially backward looking. Finance is analyzing a company's position and determining how they should manage and allocate their resources going forward.
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Old 01-22-2014, 09:18 PM
 
Location: Chicago
460 posts, read 782,659 times
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I'm an Accounting major, so I may be a little biased. There are several Finance majors who I've had classes with at my school who were Accounting majors until they encountered Intermediate Financial Acct 1. Then they switched to Finance. If you haven't heard, Intermediate 1 and 2 are gatekeeper courses.

My curriculum requires an intro to Finance course which I really enjoyed. I'm taking another senior level finance course this semester as it qualifies for one of the international studies courses we have to take. The math in Finance is a little more complicated than the Accounting math (I've survived both Intermediate 1 and 2), but the Accounting is to me a much more complex subject with many, many more ways to get an incorrect answer.

Both fields have job opportunities if you network properly and apply yourself in school, and both also have relevant graduate degree programs. The big 4 audit firms regularly hire finance majors as well as accountants, but I believe that a degree in Accounting gives you some added flexibility.
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