What is accounting and finance?
Accounting and finance are both of course related to money and businesses. Accounting focuses more on the broader picture of a company’s financial situation, whereas finance focuses more on management of funds, so you could be studying quite different things depending on which specific degree course you choose. Whichever you choose, however, you’ll be learning about how business operate financially.
Read more about studying accounting and finance at uni.
Reasons to study accounting and finance
1. The skills you’ll learn
You’ll learn loads of new transferrable and subject-specific skills on a degree in accounting or finance. Some of the transferrable skills you’ll learn include communication, critical thinking, data analysis, decision making and problem solving. As well as these, you’ll learn subject-specific skills including business accountancy, using financial information for business decision making and you’ll develop an understanding of how commerce, industry and finance work.
2. The career you could have
With a degree in accounting or finance, there are plenty of careers you can go into. You could become an actuary, providing clients with financial forecats or a chartered accountant, record keeping, auditing and advising. You could also work as a data analyst, economist or a tax adviser to provide advice and guidance to clients, businesses or the government.
If you’re still looking for your perfect career, use our Career Matcher tool now.
3. All the topics that get covered
Obviously, what you study will depend on which course you pick and which uni you go to, as well as the optional modules you select. However, there are some common modules that are offered on many of the degrees in this subject area, including accounting and accountability, auditing, business law, taxation and commerce, banking and investment. Therefore, you can expect your degree to cover some (or all) of these topics, depending on whether you go more down the finance or accounting route.
4. You can study all over the UK
Because accounting and finance are popular courses, you’ll be able to study almost anywhere in the UK you want to. According to Complete University Guide’s 2024 accounting and finance league tables, the top five unis overall in the UK are the London School of Economics and Political Science, the University of Bath, the University of Warwick, the University of Glasgow and the University of Leeds. In the same league tables, the top five UK unis for student satisfaction are the University of West London, Bangor University, Aberystwyth University, University of East London and Robert Gordon University.
Find the full 2024 accounting and finance league tables from Complete University Guide here.
5. It’s something you enjoy!
And finally, we hope you enjoy the subject! As you’ll probably be studying it for three years (and possibly more depending on the type of course you choose), you have to really commit to the subject. Enjoying what you study at uni is super important because you’ll be thinking about it pretty much every day, so it’s obviously also a huge bonus if you enjoy what you’re studying.
Overall, as you’ve just found out, there are loads of reasons to study accounting and finance at university. You’ll learn loads of new skills, and there’s a wide range of different careers you could potentially go into after you graduate. Plus, there are unis all across the UK offering high quality courses in these subject areas, so you’ll be spoilt for choice when it comes to selecting your course.
Is accounting and finance for you? Start searching for courses now!
FAQs
There are many reasons why someone might choose to pursue a career in Accounting or finance . For example, they may enjoy working with numbers and analyzing data, have an interest in business and economics, or be attracted to the potential for high salaries and job security.
Why do you choose to study accounting and finance? ›
Studying accounting develops your critical thinking and problem-solving skills, which are vital in not only your career, but also your everyday life. They allow you to identify and solve financial issues and develop solutions to prevent them happening again in the future.
How do you answer why did you choose to study accounting? ›
Express your interest in numbers
An accountant's role revolves around working with numbers. Emphasize your fascination with numbers and how they convey a company's financial narrative. Highlight how accounting allows you to decode these numbers and assist companies in making informed decisions.
Why am I interested in accounting and finance? ›
Explain your genuine interest in numbers, financial matters and the role of accounting in managing data. This will demonstrate to the hiring manager that you are aware of the requirements of the role and not only that, but you are interested in every aspect of the role including numbers and statistics.
What are the 5 main reasons why accounting is important? ›
The importance of accounting
- Tracking income and expenditure.
- Ensuring statutory compliance.
- Provide quantitative financial information.
- Assess the performance of a business or organisation.
- Provide data to support decision making.
Accounting deals with record-keeping and reporting decisions for your company's finances. Finance helps to analyze all the data to make important decisions about how best to direct the organization. Accounting and finance are two pieces of a successful business puzzle that need each other to thrive.
Why did you choose to study finance? ›
Master skills that prepare you for real-world job responsibilities. Unlike more general degrees, like business administration, finance teaches you in-demand skills in areas including data analytics, risk management, capital allocation, and investment strategy.
Why did I choose accounting as my major? ›
You Have Opportunities to Work in Any Industry You Choose
You can specialize or generalize -- be a tax expert or a CFO, work as an auditor or be the auditee, work for the government or help a company comply with government regulations. You will have vast opportunities to determine a path that is best for you.
Why is studying accounting so important? ›
Accounting is the key tool business professionals use to understand and communicate business phenomena. When you learn accounting, you unlock the ability to understand businesses, produce and act on useful information, and lead organizations toward financial success.
What makes accounting interesting? ›
For instance, you might explain that your skill development makes the challenges and analysis of financial data interesting and exciting. You might also describe specific challenges that required you to rely on a specific skill like applying mathematical formulas to help solve a problem.
You Have a Passion for Problem-Solving.
If you love figuring out puzzles and challenging your brain in other ways, accounting is a great fit for you. Accountants should have a strong desire to learn and excel at solving problems. As an accountant, you might face complex problems that need to be carefully sorted out.
Why did you choose accounting career answers? ›
I chose a career in accounting and finance because I have always been fascinated by the way financial decisions impact a company's performance and strategy. My natural aptitude for numbers and detail-oriented analysis, combined with my interest in business operations, drew me towards this field.
Why are you interested in majoring in finance? ›
A finance degree can open doors to a broad range of dynamic professional opportunities — often with high earning potential in diverse industries. Finance majors learn fundamental business skills that can translate to careers in a variety of organizations in the public, private, and nonprofit sectors.
Why did you choose to study accounting? ›
As long as businesses exist, there always will be a demand for accountants, therefore it is a very reliable degree option. This degree will also allow me to build a career I am passionate about, rather than just settling for regular job I don't care too much about.
Why is accounting important in simple words? ›
Accounting is important as it keeps a systematic record of the organization's financial information. Up-to-date records help users compare current financial information to historical data. With full, consistent, and accurate records, it enables users to assess the performance of a company over a period of time.
What is the major focus of accounting? ›
The focus of financial accounting is on summarizing and reporting a business's financial position to entities outside the business with a vested interest, such as stockholders, creditors, government agencies and suppliers.
Why you choose accounting and finance interview questions? ›
I chose a career in accounting and finance because I have always been fascinated by the way financial decisions impact a company's performance and strategy. My natural aptitude for numbers and detail-oriented analysis, combined with my interest in business operations, drew me towards this field.
Why you choose accounting as your major? ›
The skills you gain, the challenges you tackle, and your impact as an accountant can be immensely rewarding. So, if you're looking for a career combining analytical thinking, job security, and the potential for global impact, enrolling in an accounting program could be the perfect choice for you!
Why study accounting and finance personal statement? ›
I feel accounting will offer me a steady career path in the financial world that could lead on to other related fields such as investment banking or financial analysis. Another reason I am attracted to accounting is that I have a strong interest in corporate business and the economy.
