Once you have decided to get a degree in business you will now have to decide upon the majors. If you are a numbers person and good at math then you consider specializing in finance or accounting in Orlando. Even when you have decided upon you field of major, you will have to decide upon becoming a certified public accountant or a financial analyst.
Orlando Accounting: What Is It All About?
Before you choose to pursue a degree in Orlando accounting or finance make sure you know the difference the difference between the two. Often these two fields are used in place of each other but they differ from each other in many ways.
The term accounting is generally used to describe to standards and rules that are issued by the relevant accounting authority. These principles are used for setting up, sorting, storing and auditing the accounting records of an organization. Professionals in accounting work with journal entries, bank reconciliation statements, issue invoices, prepare semi-annually and annual financial reports, maintain tax record and perform other procedure that arises due to daily operation of a business.
Bookkeeping, often described as a branch of Accounting, is a method that is used to record the financial transactions that are mainly concerned with routine accounting operations. The Double-Entry Accounting Method, which is most commonly used in many organizations in maintaining the books of account.
Finance: What Am I Getting In?
The field of Finance focuses on availability of monetary resources and analyzing profitability of the business. Some of the function includes management of money, fixed and current assets, maintaining a bank account, looking out for investment opportunity. Professionals in the field of finance determine the allocation of monetary resources within the organization their usage over extended period of time. This career frequently deals with professionals outside the organization including individuals from government agencies, banking professionals, share-holders and suppliers.
Finance is mainly concerned with:
(1) Studying money and capital market
(2) Managing and controlling assets and investments within financial institutions
(3) Managerial finance also known as business finance
The job of an accountant is usually to deal with past records and transactions whereas a financial analyst’s job is to determine the future financial needs of the organization.
Orlando Accounting Careers
An Accounting degree can lead your path to the following career path:
- Role of a Chief Financial Officer (CFO)
- A Certified Public Accountant (CPA)
- An Accounting Manager
- An Auditor
- An Accountant
Whereas a degree in finance will get you the above career as well as provide following career options in the field of:
- Commercial or Investment Banking
- Financial Services Brokerage
- A Finance Manager
- A Finance Advisor
- A Financial Analyst or a Planner
While choosing a degree, you should consider your interest as well as the majors that you are planning to study. If you are a workaholic and like structure and discipline then you should think about a career in accounting. Meanwhile if you like to speculate and play with the risks then you should pursue a career in finance.
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