How Accounting & Finance Can Play An Important Role In Your Career?
When it comes to choosing a subject to study, you have to focus on your career prospects. After all, many students want to ensure that their chosen fields have good jobs and reputation in the market. And when it comes to opportunities, Accounting & Finance is a well-known field.
Studying for this degree will ensure that you are trained and prepared for a business career. Almost all the companies need the expertise of an Accounting & Finance graduate in order to meet the business needs. But before you decide to opt for this field, it is better to understand it in a more comprehensive manner.
What's Accounting & Finance?
So starting with the basics, what exactly will you be studying in accounting courses? The subject of Accounting & Finance basically involves the concepts related to business, management, and money with great focus on information analysis. A degree in this subject allows the individuals to acquire technical skills and knowledge for analysing business, accounting problems.
Accounting primarily focuses on the daily management of financial reports, as well as records, of the company. On the other hand, Finance equips the individual with the ability to forecast future growth, analyse expenditure, and impact the company policies related to finances. The overall degree brings knowledge from both of the subjects together to support the students in developing full-fletch abilities.
Why should you study Accounting & Finance?
There are various reasons why many students around the world opt for this subject. Firstly, the need for accountants and financial experts is increasing all around the globe. Graduates of this subject also have a great prospect of making big in the business arena. For instance, the degree allows the individuals to join the best graduate training schemes. In a well-established company, individuals can benefit from well-structured training programs and improve their skills.
On the other hand, accountants and finance experts remain at the centre of any business operations. In this way, people graduating with this degree can work in just about any industry or sector, pertaining to their expertise in dealing with the monetary matters. You can not only work in the corporate sector, but you can also uncover financial crimes or work as an environmental accountant. The possibilities are simply enormous.
The stability of any job is dependent upon the trends in the market. However, a career in the field of Accounting and Finance is considered to be very stable because even when the market trends and economic activities are changing, there is a great need for highly skilled professionals. Accountants are also able to make a lot of money because the turnouts from this field are substantial.
Many schools also offer options for additional degree subjects to students of accounting and Finance. For example, individuals pursuing this degree can learn a new language or study a social sciences subject. Studying a joint degree can provide you with wide-ranging skills and knowledge.
Most importantly, this subject can help students develop a highly practical approach and implement their knowledge in real-life situations. In many institutions, students are also given a chance to go for a placement year in which they are able to work in the industry and develop their career experience. You can develop leadership skills as well, allowing you to ascend to a top-notch managerial position.
What are some high paying jobs for accounting & finance graduates?
There are various jobs that you can bag by pursuing finance or accounting courses in Singapore. While success in any field comes down to your own skills and talent, it is also essential to ensure that there are prospects in the market. Here are some top-paying jobs for accounting & finance graduates:
- Financial Managers
Usually paid over $120,000, Financial Managers are responsible for managing the finances of the company, create financial strategies, and support the overall growth of the organisation. This job is relatively high in demand.
- Financial Analyst
The average salary of a Financial Analyst today is almost $85,000. The job of the Financial Analysts is to keep track of the economic trends and provide financial advice to their clients.
- Management Analyst
A management analyst is usually paid $83,000 on average. Their major goal is to improve the efficiency of the company by analysing external threats, recommending appropriate solutions, and supporting efficient operations.
- Financial Examiner
This job will allow you to make an average of $80,000. Financial examiners are responsible for keeping financial institutions compliant with the law. They usually work in Banks to help in risk management and prevent losses.
- Budget Analyst
Budget analysts make about $76,000 on average. They help both the private and public sectors in managing and organising their finances appropriately.
- Accountant
Accountants usually make over $70,000 today. An accountant overlooks all the financial aspects of the company, ensuring that the company is paying tax and fulfilling its financial goals.
What do Accounting & Finance graduates do?
Once you have managed to get your degree, you can apply for various jobs in the market. Usually, graduates tend to employ in high street banks, investment banks, accountancy firms, management consultancies, and building societies. Accountancy and finance graduates also tend to opt for further professional qualifications. Some standard professional qualifications include the Association of Chartered Certified Accountants (ACCA) qualification, Association of Accounting Technicians (AAT) qualification, and Chartered Institute of Management Accountants (CIMA) professional qualification.
What qualifications do you need to get Accounting & Finance?
Accounting and Finance courses usually don't have very complex requirements. But if you are opting for higher degrees, you might be required to have some preliminary knowledge of the field. The actual requirements will be specified by the institution you are applying at.
Final Words
Accounting & Finance is a very promising degree that will pave your path towards success. If you are good with numbers and willing to learn more about topics like financial reporting, auditing, and taxation, then this is the field to opt for.