Difference Between Finance and Accounting - Career Options,Work, Education Need 

 Hello everyone  today, we have a topic which is finance versus accounting. I mean what is exactly the better option we'll try and understand. This difference you don't need to worry about. You know we will be discussing many topics here so that you know you may have a clear idea regarding what exactly is good.

               Difference Between Finance and Accounting

See many students think that you know Finance and Accounting steam are a system from the same domain from the same domain of expertise but you know if you ask an accountant or a finance guy who has been working as a in a corporate for a long time they would tell you how different they are in terms of the nature scope work or the area of explain. 

The first you know I want you to understand exactly what this is all about.

1)  WORK

 Finance is basically a science of sayings of planning. It's a science of planning the distribution of the assets within the company 

*And if you see for accounting on the other hand is basically what we call as the art of summarizing things summarizing their past recording of the financial later transactions.

2)  CARRIER OPTION

what are the carrier option finance you have investment banking you have corporate finance then you have equity research your private equity risk management probably quantitative analysis project finance and so called the technical analysis.

 In accounting you have the career options like you know forensic accounting you have management accounting then you have sort of what is called as public accounting.

The financial accounting then you have auditing in this auditing of both and also government accounting so all of this career option in both of the scenario

3)  EDUCATION NEED 

 Point of difference is what sort of education you need to obtain in case of finance bachelors in finance will be suitable for you or you know accountancy will also be fine in this in terms of bachelors economics 

Bachelor's in economics will also go and a good MBA is a masters option. You know CFA is their frm or PRM is their CFP certified financial planner. 

4)  JOB OPTIONS

 This will remain the same the bachelor's in accounting instead of a cut economics you have a chartered accountancy CA you have CPA ACCA Seema you have Seema here you have CMA so all this are the education drivers that that will help you to reach there now which are the top forms that will hire you in this kind of scenario companies like Blackstone Goldman Sachs you have Morgan Stanley we have Bank of America Merrill Lynch credit Swiss city bank HSBC UBS bank JP Morgan is there and so on and so forth it goes the list is just too long over 

*Here in accountancy you have PWC KPMG these are the 4 big firms Deloitte then you have E & Y that's the Ernst  Young Grant Thornton then you have video of usa baker Tilly and so on and so forth now how exactly the work life will go in this the fourth 

5) THE WORK LIFE GO 

The work life well it depends on the sub domain in the finance you are working for like you know let's say in investment banking if you're working it's brutal equity research IB I'll say this is really brutal if you are in equity research the analysts have a balance work life depending on the area you may have to work for let's say 10 to 18 hours a day in accounting you can say there is a balanced life there is a much better than the Financial Analysts work is not urgent all the time of the year now 

 

6) The travel part that is involved so mostly they are not required to travel much you can safely assume that you know 90% of the time you spent in the office over here also no not much travel is involved now what are the keywords that that they use in in this particular field so financial modelling is one thing that they use valuations mergers and acquisitions NPV IRR and so on and so.

*I hope you have got real idea regarding what is finance in accounting so first you know let's understand well this is the difference between the finance and accounting as of now all this points are pretty much self-explanatory in itself and probably you should take a decision based on your career goals what exactly you want to go for in your life and then accordingly choose you can take this point of comparisons to decide exactly what is good and what is bad for you so that's it for this particular career option session thank you very much. If you have any questions, just ask in the comment box now.