How Difficult Is Accounting & Finance? - Whats You Should Know
When it comes to choosing our field of study, we want to weigh up all the options carefully before making a decision. If you’re somebody who has a natural affinity for math, then chances are, you’ve probably considered accounting and finance as a future career path.
It can, however, be off putting, when you hear of so many people complaining about how difficult these subjects are. But is this the case? Are accounting and finance really any harder than other fields of study?
If you’ve found yourself asking the questions posed above, then you’ve come to the right place. To find out more about the intricacies of studying accounting and finance, simply keep reading below, as we take a closer look.
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What Do They Teach In Accounting And Finance?
Before we jump straight in and look at the practicalities of studying accounting and finance, let’s take a closer look at what is taught in these subjects.
If you have a broader understanding of the things you might be learning about, it will make it easier for you to determine whether it might be within your interests and capabilities.
A traditional accounting bachelor’s degree, will typically take around 4 years to complete in total. During these four years, students will learn all manner of different things. Accounting draws its statistics from a whole host of joining subjects, such as economics, law, and business.
When you undertake an accounting and finance degree, you’ll have the opportunity to specialize in particular areas, including auditing, environmental finance, analytics, or real estate, amongst other things.
The item you specialize in during your degree will likely have an effect on your career path in the future, so you can cater it around your specific interests.
During your accounting and finance degree, you’ll gain a whole host of different skills that can be incredibly useful when applying for jobs. Some of the key skills that you earn when you study accounting and finance include leadership skills, project management skills, technology skills, computational skills, and even creative thinking skills.
Now that we’ve given a brief overview of what an accounting and finance degree consists of, we can move on to answer the titular question.
Is Accounting And Finance Hard?
So, is accounting and finance really all that difficult, or is it just hearsay? This is an incredibly difficult question to answer, purely because it's subjective, and entirely dependent on the capabilities of the individual. For example, an accounting degree might feel like a piece of cake for someone whose brain is designed to grasp the work effortlessly, but others who aren’t as adept at math and analytics may struggle.
In general, we’d say one of the key determining factors as to whether or not accounting is hard, is whether or not a person actually enjoys the subject. This goes for all subjects, for that matter. If you don’t feel passionate about what you’re learning, chances are you’re not going to put in the hours when it comes to studying.
We often see students choosing other subjects as opposed to accounting and finance, because they’ve been told how tough it is. This statement does carry some credit, as finance is considered to be quite a weighty subject.
But, this shouldn’t put you off choosing it as your field of study, as it can be incredibly rewarding if you have enough interest.
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Will The Subject Be Well Suited For Me?
This brings us onto our next question, will accounting and finance be a suitable subject for you. As we said, it’s incredibly important that you only choose to study this subject if you have a genuine passion and interest for finance. This will be the driving force behind your studies, and any good grades you achieve.
Some of the most difficult aspects of studying this subject is that the curriculums can be quite lengthy. You’ll also be required to put in the hours outside of classes, in order to catch up or grasp things that didn’t quite click in lectures.
You will be studying a whole host of different things, such as valuing assets, double entry accounting, profits, balance sheets, amongst others. If these sound like topics that you’d be interested in undertaking, then by all means, it sounds as though accounting would be a great option for you.
In terms of personality, accounting can be tailored towards extroverts or introverts, as there are different fields of study within accounting that have different requirements. If you’re somebody who likes your own company, then pursuing a job bookkeeping might be the perfect choice within the field.
If however, you enjoy interacting with other people on a regular basis, then we’d recommend that you look at financial advising. This job requires you to liaise closely with businesses and people on a daily basis. This job requires good oral competency, and a desire to help other people using your skills.
If you love math, then you have a good basis for an accounting degree. However, accounting isn’t just limited to solving equations, but rather, consists of understanding company transactions, and how they work. A good portion of the degree is theory, so you won’t just be limited to solving mathematical problems all day.
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To sum up, accounting and finance as a degree is known for being tough. It requires a lot of study outside of classes, as well as an incredibly varied curriculum. If you have a passion for the subject however, and good mathematical competency, chances are you’ll do well.
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