Accounting or Economics? Know which one to choose!
When choosing a graduation, you have to be careful with some pitfalls. One of the most common situations is to be undecided between two courses in the same area of knowledge that, at first glance, are similar.
This occurs, for example, with the options of Accounting Sciences or Economics, with both sectors working with administration and accounting. The best solution, therefore, is to seek as much information as possible about each of the areas and, of course, about their differences.
Follow the steps below and find out which option is best for you: Accounting Sciences or Economics. Good reading!
What are the objectives of each course?
Whenever in doubt about the difference between two courses, start by understanding the objectives of each. You might be surprised that, despite being close, they have totally different activities!
The purpose of accounting
Accounting Sciences seeks, primarily, to provide information on the financial performance of a given organization, preparing reports that facilitate decision-making.
In other words, the professional in this area collects and organizes data on how the organization’s assets and money are being used, generating reports. This information will be used by various people related to the company when making important decisions. Some examples of its use are:
- the company administrator will be able to decide if it is time to expand the business;
the shareholder can decide whether to invest more money or not;
the supplier can estimate the risk of selling on credit to this organization;
the Government can assess whether this company is a good partner for a public project.
The aim of economics
Economics is a much broader area than Accounting. It is not limited to observing the financial issue and does not study just one organization. Even when we talk about “microeconomics” we are talking about a system; and not a specific company.
Economists study different aspects — social, political and even religious — to understand how economic interactions occur in a society.
What are the differences between Accounting and Economics courses?
The differences between these two fields of knowledge are already beginning to appear during the courses. Students of Accounting Sciences and Economics will study different subjects, which are related to the work that each one will develop later.
Some of the Accounting subjects are:
- Financial math;
- Cost Accounting;
- Analysis of Financial Statements;
Meanwhile, in Economics, some of the subjects are:
- International Trade;
Note that, in Economy, you will see a little bit of everything. However, due to the time constraint of the course, it will be a more superficial perspective. In Accounting Sciences, you go straight to the subjects that will be important in your day-to-day work.
Accounting student profile
Those who choose to graduate in Accounting Sciences must have ability with numbers and calculations, be organized and detail oriented. In addition, it is important to have an analytical eye to analyze data and interpret different economic situations, whether of companies or customers.
Good communication, both oral and written, is another skill expected from accounting students, who must be able to receive and transmit information quickly. It is still essential to keep up to date to keep up with the constant changes in legislation involving the area.
Economics student profile
Economics students, on the other hand, must be a good observer to understand the causes of economic phenomena, identifying their impacts on everyday life. Due to the fact that most of the activities are carried out in teams, it is also important that the student has the ability to work in groups.
In the same way, developing good communication and interpersonal relationships is fundamental for the future economist’s success. Especially because the professional often deals with customers, shareholders and corporate leaders, and with different sectors of a company, having to understand the operation of all activities involving the business.
What are the differences in professional performance?
Just as the objectives of each area are different, professionals trained in Accounting or Economics will also have different opportunities for action.
In the case of Accounting Sciences, there is a wide variety of career options that you can follow. Therefore, it is a course with a high prospect of employability.
One of the most common alternatives is to become a self-employed professional. You can open an accounting office to serve people and small businesses, which guarantees a good volume of work.
If you prefer a slightly more stable career, you can also work exclusively in corporate accounting, being a contracted and registered employee. Large companies, which have a lot of financial transactions, usually have their own team of accountants.
Another possible alternative is to pursue a career as an auditor. This means that you will not be responsible for preparing the accounting statements, but for reviewing them for errors – whether intentional or not.
Auditors are called, for example, when a company decides to buy another. It’s their work that lets you know if the business you’ve bought is really profitable or if it’s a scam. Because it is a job of high responsibility, it is highly valued. To go down this path, you’ll likely need to take specialization courses.
Finally, it is worth remembering that most public tenders (municipal, state or federal) offer vacancies for those with a degree in accounting, with very attractive salaries!
And what are the options for a professional trained in Economics? While it is a very interesting and important area, there are fewer practical ways to work with it.
Most economists offer consultancy, helping companies better understand market risks and opportunities. As this type of service is complex and expensive, only large organizations look for it (and, of course, only the best economists are called). To work with consultancies of this type, you can look for job vacancies in market intelligence companies.
Some spheres of government are also looking for economists to carry out a very similar job. Therefore, those who graduate need to keep an eye on tenders from large federal bodies. The salary is quite attractive, but beware: there are few vacancies and tenders can take years to happen.
What can the Accounting Sciences professional work on?
Anyone who thinks that graduates in accounting act only as accountants is wrong. Depending on the position, the professional can work with tax, contractual, fiscal and property issues, in different locations and enterprises.
Check out, below, what are the possible duties of those who choose the profession:
- provision of services and consultancy.
- financial manager;
- financial consultant;
- accounting expertise;
- server in public bodies;
- teacher in free, technical and professional courses.
What can the Economics professional work on?
Because the economy is a diverse area, there are job opportunities in both the public and private sectors. Thus, the professional finds vacancies in several institutions, such as the stock exchange, NGOs and companies of various sizes.
See, below, which are the main options for action that economists find in the market:
- financial market;
- agro-industrial economy;
- market studies;
- economic expertise;
- business economics;
- financial guidance.